Electric Last Mile Systems

Cowen expects Electric Last Mile Systems to charge ahead

Cowen issues positive report on electric vehicle maker ELMS

In an increasingly competitive space, Cowen Equity Research has initiated coverage of Electric Last Mile Systems (ELMS) with an outperform rating, setting a per-share price target of $14.

ELMS (NASDAQ: ELMS) closed Thursday at $9.15, down 6% from the open.

The research firm said it was “impressed by the company’s experienced management team and capital-light go-to-market business model that focuses on keeping its approach to manufacturing simple” and a low capital expenditure need to bring Class...

https://www.freightwaves.com/news/cowen-expects-electric-last-mile-systems-to-charge-ahead

Electric Last Mile Systems’ first-day stock spike doesn’t last long

Electric Last Mile Systems goes public

Shares of Electric Last Mile Systems (NASDAQ: ELMS) jumped as much as 10% in early morning trading on Monday after the electric vehicle maker made its public trading debut following its merger with special purpose acquisition company (SPAC) Forum Merger III Corp.  

Despite the early jump, though, the stock quickly dropped to $10.42 per share in late Monday morning trading. The stock opened at $11.10 per share. It was expected to have a valuation of about $1.4 billion at open. Forum Merger III,...

https://www.freightwaves.com/news/electric-last-mile-systems-early-stock-spike-doesnt-last-long-on-first-trading-day

ELMS to show prototype Class 3 electric van at FedEx event

Electric last mile systems to debut electric cargo van at FedEx contractor event

Electric Last Mile Systems (ELMS) will debut the second of its fully electric delivery vehicles at the upcoming Route Consultant Contractor Expo on July 30-31. The event is the largest FedEx Ground contractors event in the country and will be held in Nashville, Tennessee.

ELMS will show a prototype of its Class 3 vehicle, what it is calling the Urban Utility. The vehicle will join its smaller Class 1 sibling, the Urban Delivery cargo van, which will also be on display. The Class 1 is expected to...

https://www.freightwaves.com/news/elms-to-show-prototype-class-3-electric-van-at-fedex-event

DHL Express ups order for Lightning eMotors’ electric Transit vans

A successful trial of nine Lightning eMotors electric Ford Transit vans has led DHL Express to announce it will deploy an additional 89 vehicles in New York and California this year.

The Ford Motor Co. (NYSE: F) Transit 350HD Class 3 vans are equipped with Lightning’s zero-emission system and capable of achieving 61 miles per gallon equivalent, compared to 13 miles per gallon for a similar gas-powered van, Lightning said. They include proprietary telematics and analytics software, which will aid...

https://www.freightwaves.com/news/dhl-express-ups-order-for-lightning-emotors-electric-transit-vans

Arrival sets second US microfactory as public trading nears

U.K. electric delivery van and bus startup Arrival Ltd. will build its second U.S. microfactory in Charlotte, North Carolina, the site of its U.S. headquarters. The SPAC-backed startup begins public trading Thursday.

The new microfactory will make vans to help fulfill a 10,000-unit order from United Parcel Service (NYSE: UPS). Many of the vehicles produced at the Charlotte microfactory are expected to enter UPS’ North American and European fleets.

“We’re excited by this significant milestone that...

https://s29755.pcdn.co/news/arrival-sets-second-us-microfactory-as-public-trading-nears

Truck Talk: Safety sells edition

Welcome back to Truck Talk. Was this forwarded to you? Subscribe here for delivery to your inbox every Friday.

This week, we’re looking at some impressive outcomes from truck safety technology; a couple of dump truck developments (because dump trucks are cool) and the definition of a pre-order.

This stuff really works

Daimler Trucks North America was the first to show off limited hands-free driving in its 2020 model Cascadia flagship. The suite of technologies included active braking, active lane...

https://www.freightwaves.com/news/truck-talk-safety-sells-edition