- Electric Last Mile Solutions Inc ELMS has signed a binding, long-term supply agreement with Liuzhou Wuling Automobile Industry Co Ltd (Wuling Motors).
- Under the terms of the agreement, the company will have access to EV component systems and parts from Wuling Motors' commercial EV cargo van platform to manufacture its all-electric Urban Delivery vehicle.
- "We are delighted to be collaborating with a company of Wuling Motors' caliber to broaden our long-term, strategic supply base,” said CEO James Taylor.
- Electric Last Mile Solutions expects to launch Urban Delivery van later this year at a starting price of approximately $25,000, after incentives. The company will produce the vehicle at its Mishawaka, Indiana plant.
- Price action: ELMS shares are trading higher by 0.36% at $9.75 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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