ELMS Signs Agreement with Cox Automotive to Deliver Nationwide Service and Support Solutions to its Customers
October 06 2021 - 7:00AM
Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or
“the Company”), a pure-play commercial electric vehicle (“EV”)
company focused on redefining productivity for the last mile, today
announced it has signed an agreement with Cox Automotive Inc. (“Cox
Automotive”) to provide comprehensive service and support solutions
for its commercial EV customers nationwide. ELMS’ Urban Delivery
has already been shipped and sold to customers, becoming the first
Class 1 commercial EV available in the U.S. market. Now, these
customers have industry-leading service solutions from Cox
Automotive – one of the largest automotive service providers in the
world.
ELMS and Cox Automotive have been collaborating
since May to understand ways to provide EV commercial customers
best-in-class service solutions. The two companies are now acting
on those discussions, with ELMS Urban Delivery customers receiving
access to more than 6,000 service centers and 3,000 partner
locations across the country that collectively service millions of
vehicles each year. Customers will also have access to Dickinson
Fleet Services’ network of more than 800 mobile technicians
bringing service directly to their vehicles.
This new arrangement provides a full scope of
service solutions to ELMS customers, including preventative
maintenance, vehicle pick-up and delivery, battery servicing,
vehicle and collision repairs, and roadside assistance.
“Our customers now have a collection of service
solutions at their disposal from Cox Automotive, who are experts in
providing trusted, reliable commercial vehicle maintenance and
repairs,” said Ron Feldeisen, Chief Revenue Officer, ELMS. “This
allows fleet and commercial owners to maximize vehicle uptime and
improve cost efficiencies to get the most out of their vital
resources.”
“We are excited to work with ELMS and provide
its Urban Delivery EV customers world-class service solutions,”
said Alex Fraser, AVP of Fleet Operations, Cox Automotive Mobility.
“Keeping commercial vehicles on the road so they can accomplish
their daily responsibilities is what we strive for each and every
day.”
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 the first Class 1 commercial
electric vehicle in the U.S. market. The Company expects to begin
production of its second vehicle, the Class 3 Urban Utility EV, in
the second half of 2022. ELMS is headquartered in Troy, Michigan.
For more information, please visit www.electriclastmile.com.
About Cox Automotive Cox
Automotive Inc. makes buying, selling, owning and using vehicles
easier for everyone. The global company’s more than 27,000 team
members and family of brands, including Autotrader®, Dealer.com®,
Dealertrack®, Dickinson Fleet Services®, Kelley Blue Book®,
Manheim®, NextGear Capital®, VinSolutions®, vAuto ® and Xtime ®,
are passionate about helping millions of car shoppers, 40,000 auto
dealer clients across five continents and many others throughout
the automotive industry thrive for generations to come. Cox
Automotive is a subsidiary of Cox Enterprises Inc., a
privately-owned, Atlanta-based company with annual revenues of
nearly $20 billion. www.coxautoinc.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
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 described in the “Risk Factors” section of the
Company’s Quarterly Report on Form 10-Q for the quarter ended June
30, 2021 and in 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 its expectations or any change in events, conditions or
circumstances on which any such statement is based.
ContactsMedia:
elms-svc@sardverb.com Investor Relations:
IR@electriclastmile.com
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