ELMS Files Patent Application for Class 1 Commercial EV Frontal Impact-Absorption Design, Preliminary Vehicle Crash Testing Yields Positive Results
July 22 2021 - 8:00AM
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.
ContactsMedia:
elms-svc@sardverb.com Investor Relations:
IR@electriclastmile.com
Forward-Looking StatementsThis
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
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“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue,” and similar expressions are
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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.
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