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ELMS Announces Third - Quarter 2021 Financial Results Completed launch and initial deliveries of the ELMS Urban Delivery , the first Class 1 commercial electric vehicle in the U.S. , to become revenue - generating company Secured 6,000 - unit order commitment ● TROY , Mich . ( Nov. 10 , 2021 ) - Electric Last Mile Solutions , Inc. ( NASDAQ : ELMS ; ELMSW ) ( " ELMS " or the “ Company " ) , a pioneer of electric vehicles ( " EVs ” ) and intelligent mobility solutions for commercial vehicle customers , today announced financial and operating results for the quarter ended Sept. 30 , 2021 . +4 ELMS ELECTRIC LAST MILE SOLUTIONS " We are thrilled to have achieved our scheduled milestones this quarter , most notably generating revenue from the successful launch and delivery of the first Class 1 commercial EV in the United States , " said James Taylor , CEO of ELMS . " Having secured the first - mover advantage in this space , we now are focused on ramping up production , to meet demand and deliver on our initial order commitment from a major commercial vehicle distributor . ● Signed long term agreements for battery and components supply and nationwide vehicle service " In light of unprecedented global supply - chain challenges , we have made the strategic decision to revise our production target to 300 - to - 500 vehicles for 2021 and deliver the remaining orders in Q1 of 2022. " Third Quarter 2021 Highlights ● Expanded operational footprint to Asia Pacific , California and Canada On track to launch certified Urban Delivery in December ● ● Net loss for the third quarter was $ 17.8 million , or ( $ 0.15 ) per share . Total cash balance including restricted cash of $ 170.9 million as of Sept. 30 , 2021 . Assembled workforce and equipment necessary to ramp up production at Mishawaka plant . Commenced production of the ELMS Urban Delivery and shipped the first units to customers on Sept. 28 , 2021 , to become a revenue - generating company . Secured initial binding order for 1,000 units with a national distributor , with a commitment to purchase a total 6,000 units through 2022 . Signed supply agreements with Wuling Motors and CATL for components and lithium iron - phosphate ( LFP ) batteries . Signed agreement with Cox Automotive to provide comprehensive service and support solutions for ELMS customers across more than 6,000 U.S. service centers . Announced and revealed the Urban Utility , followed by customer evaluations , with production on track to commence in the second half of 2022 .