Electric Last Mile

Assembly Line

EV maker Electric Last Mile Solutions files for bankruptcy

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Electric Last Mile

U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) (ELMS.O) said on Sunday it is planning to file for Chapter 7 bankruptcy, after a review of its products and commercialization plans. The move comes after the Troy, Michigan-based company disclosed a probe by the U.S. Securities and Exchange Commission and withdrew all its previously issued business outlook in March.

Read more at Reuters