Electric Last Mile Solutions Inc., a Troy-based commercial electric vehicle (EV) company, announced today that shares of its common stock and warrants will begin trading on the Nasdaq Stock Market under the new ticker symbols ELMS and ELMSW, respectively.
This follows the completion of the company’s previously announced business combination with Forum Merger III Corp., a special purpose acquisition company. Forum shareholders approved the combination at a special meeting held last Thursday.
“Today is an important achievement for ELMS and a significant milestone in our mission to transform last mile productivity for our customers with efficient, sustainable and connected e-mobility workstations intended to improve their bottom line,” says Jim Taylor, co-founder and CEO of ELMS.
“We are focused on execution to launch the Urban Delivery, which we anticipate will be a first-mover in the Class 1 commercial electric vehicle segment. As a public company, we believe we now have all the pieces in place to launch the Urban Delivery later this year and are excited to help position America as the leader in EV manufacturing.”
The ELMS Urban Delivery, expected to launch later this year, is expected to be the first Class 1 commercial EV available in the U.S. market and will be produced at the company’s recently acquired facility in Mishawaka, Indiana.
The Urban Delivery is anticipated to have a range of approximately 150 miles and is also expected to come with a suite of connectivity and productivity solutions, including over-the-air updates. As part of its integrated business model, Taylor says ELMS also plans to offer upfitting solutions to customize the Urban Delivery to fleets’ individual end-use cases.
ELMS also recently announced plans to reveal a working prototype of its second vehicle, the Urban Utility, an all-electric medium duty cab forward truck, later this summer.