James Taylor, the former CEO of Electric Last Mile Solutions, kept a low profile following the bankruptcy sale of the company’s assets to Mullen Automotive. This week, he resurfaced as CEO of Mullen-controlled Bollinger Motors, a maker of electric trucks.
Was...
The same driverless technology that Kodiak Robotics plans to put on highways in late 2024 has application to the military, which sees leveraging commercially developed innovation as smarter than creating everything itself.
Following Kodiak’s reveal of its Ford F-150-based prototype autonomous vehicle for the U.S. Army on Monday, Kodiak founder and CEO Don Burnette and I discussed dual-use technology, the recent comings and goings in the autonomous trucking space and a thawing of investor...
https://www.freightwaves.com/news/are-startup-investors-getting-past-the-fomu-cycle
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As third-quarter earnings roll in, it is a good time to check the state of electrification startups....
https://www.freightwaves.com/news/whatever-became-of-those-splashy-electrification-startups
One is a startup. The other is better described as an early-stage growth company. Choosing lidar maker Ouster Inc. and bus, battery and electric infrastructure provider Proterra Inc. for Securities and Exchange Commission filings scrutiny may be selective. But they represent the ongoing financial difficulties affecting companies trying to advance transportation technology.
Some have already left the stage: XL Fleet was purchased by the Shyft Group. Electric Last Mile Solutions went bankrupt amid...
https://www.freightwaves.com/news/startups-struggling-to-make-financial-ends-meet
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Microplant developer Arrival cut 800 jobs — half of its workforce — and named a new CEO Monday. The...
https://www.freightwaves.com/news/last-mile-startup-arrival-cuts-800-jobs-as-it-seeks-survival
“It’s the lure of easy money, it’s got a very strong appeal.” — Smuggler’s’ Blues by Glenn Frey
After convicting SPAC-sponsored Nikola Corp. founder Trevor Milton of defrauding investors, who will federal prosecutors target next among transportation companies that took a similar path to public trading?
They have options. A statement by U.S. Attorney Damian Williams suggests some targets of Securities and Exchange Commission and Justice Department subpoenas may have cause for worry.
“Let this case...
https://www.freightwaves.com/news/commentary-after-bagging-milton-who-will-feds-go-after-next
Layoffs get the headlines but a surprising number of electrification startups are adding employees even as they try to raise more money. Volvo is using two dealerships and a five new charging points to create a corridor in California. And the Diesel Technology Forum graphically shows once again that fossil fuels are still king in commercial transportation.
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Electrification startups are hiringRecord-hig...
Battery-electric delivery van startup Electric Last Mile Solutions (ELMS) has filed for bankruptcy liquidation, ending a long slide that included insider trading, an SEC investigation and a bear market that is pummeling newly public transportation companies.
“Unfortunately, there were too many obstacles for us to overcome in the short amount of time available to us,” Shauna McIntyre, interim CEO and president, said in a press release.
In an 8-K filing Sunday with the Securities and Exchange...
https://www.freightwaves.com/news/electric-last-mile-solutions-files-for-bankruptcy-liquidation
The past couple of months for Electric Last Mile Solutions (ELMS) could certainly be described as a horror movie. The tumultuous stretch kicked off in February with a pair of resignations from ex-CEO James Taylor and ex-Chairman Jason Luo, following a board investigation that revealed the two had purchased heavily discounted shares of company stock pre-SPAC merger.
So far in March, things haven’t improved for ELMS. At the beginning of the month, the company announced that it would be laying off
The first step in the mission to launch a Class 1 electric delivery van has been reached with Electric Last Mile Solutions announcing on Wednesday that it has delivered the first Urban Delivery van from its Indiana assembly facility.
The vehicle was handed over to Randy Marion Automotive Group, a large nationwide commercial dealership group. Just last week, the dealer announced an order for 1,000 of the EVs.
“There is no doubt that the commercial last-mile delivery market is demanding electric...