U.S. markets closed
  • S&P 500

    4,395.26
    -23.89 (-0.54%)
     
  • Dow 30

    34,935.47
    -149.06 (-0.42%)
     
  • Nasdaq

    14,672.68
    -105.59 (-0.71%)
     
  • Russell 2000

    2,226.25
    -13.78 (-0.62%)
     
  • Crude Oil

    73.81
    +0.19 (+0.26%)
     
  • Gold

    1,816.90
    -18.90 (-1.03%)
     
  • Silver

    25.55
    -0.23 (-0.90%)
     
  • EUR/USD

    1.1872
    -0.0024 (-0.20%)
     
  • 10-Yr Bond

    1.2390
    -0.0300 (-2.36%)
     
  • GBP/USD

    1.3908
    -0.0050 (-0.35%)
     
  • USD/JPY

    109.6500
    +0.1890 (+0.17%)
     
  • BTC-USD

    41,485.69
    +2,699.25 (+6.96%)
     
  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     
  • FTSE 100

    7,032.30
    -46.12 (-0.65%)
     
  • Nikkei 225

    27,283.59
    -498.83 (-1.80%)
     

ELMS Files Patent Application for Class 1 Commercial EV Frontal Impact-Absorption Design, Preliminary Vehicle Crash Testing Yields Positive Results

·5 min read
  • Design in the patent application a part of ELMS’ proprietary EV crash protection system.

  • Preliminary testing incorporating the ELMS-designed energy-absorbing front bumper system with innovative honeycomb structure yields positive results.

TROY, Mich., July 22, 2021 (GLOBE NEWSWIRE) -- Electric Last Mile Solutions, Inc. (NASDAQ: “ELMS” or “ELMSW”) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity for the last mile, announced today that it has filed a provisional patent with the United States Patent and Trademark Office (“USPTO”) related to the development of its EV crash protection system to improve vehicle and occupant safety and battery stability in the event of a collision.

“This design, just one part of our EV crash protection system, is a testament to our capability to design and engineer leading safety technologies specific to commercial EVs,” said ELMS Vice President of Engineering, Praveen Cherian. “Our most recent crash test incorporating the design yielded positive results, and we believe that these indicate we are on the right track to produce the Urban Delivery later this year.”

The design encompassed in ELMS’ provisional patent application allows for the hollow channel bumper, crash boxes, tubular supports and ring assembly to crumple in stages upon frontal impact to absorb and redirect the energy to protect the occupant as well as the high voltage battery.

ELMS expects to hold its next round of crash tests in August and intends to utilize the energy-absorbing front body vehicle assembly design in the Urban Delivery, which the Company intends to launch later this year.

The ELMS’ Urban Delivery is expected to be the first Class 1 commercial electric vehicle available in the U.S. market and will be produced at the Company’s 675,000 square foot plant in Mishawaka, Indiana.

About Electric Last Mile Solutions, Inc.

Electric Last Mile Solutions, Inc. (Nasdaq: ELMS) is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers’ businesses more efficient and profitable. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.

Contacts
Media: elms-svc@sardverb.com
Investor Relations: IR@electriclastmile.com

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance of the business, the size, demands and growth potential of the markets for the Company’s products and the Company’s ability to serve those markets, the Company’s ability to develop innovative products and compete with other companies engaged in the commercial delivery vehicle industry and/or the electric vehicle industry, the Company’s ability to attract and retain customers, the estimated go to market timing and cost for the Company’s products, and the implied valuation of the Company. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; (2) changes in applicable laws or regulations; (3) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (4) the impact of COVID-19 on the Company’s business; (5) any delays the Company may experience in realizing its projected timelines and cost and volume targets for the production, launch and ramp up of production of the Company’s vehicles and the modification of its manufacturing facility; (6) the ability of the Company to obtain customers, obtain product orders, and convert its non-binding pre-orders into binding orders or sales; (7) the Company’s ability to implement its business plans and strategies; and (8) other risks and uncertainties indicated from time to time in the proxy statement filed by Forum relating to the business combination, including those under the “Risk Factors” section therein, and in Forum’s other filings and the Company’s future filings with the Securities and Exchange Commission. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that the Company considers immaterial or which are unknown. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.