Short CircuitedLong is the way and hard that out of Hell leads up to the light. (Milton)
One cloned competitor down for the count.
Who's on first? What's on second?
Who will be the last van standing? EV start-up Electric Last Mile Solutions said late Sunday it plans to file for bankruptcy less than a year after it went public with a special purpose acquisition company.
The Michigan-based maker of electric commercial vans said in a release that interim CEO Shauna McIntyre and its board of directors decided on Sunday to file for Chapter 7 bankruptcy protection, which will allow it to liquidate its assets, after a “comprehensive review of the company’s products and commercialization plans” turned up no better option for stakeholders.
ELMS’ public offering, in late June 2021, came amid a wave of SPAC deals that took EV makers public. The company is the first of those post-SPAC EV makers to say that it will declare bankruptcy.
https://www.cnbc.com/2022/06/13/ev-start-up-electric-last-mile-solutions-to-declare-bankruptcy.html
https://finance.yahoo.com/news/ev-truck-startup-electric-last-011103756.html