Bob Rosadini Posted June 13, 2022 Share Posted June 13, 2022 From Automotive News..... Founders James Taylor and Jason Luo had planned to import electric delivery vans from China and assemble them at a former General Motors Hummer factory in Mishawaka, Ind. Both men resigned in early February after Electric Last Mile accused them of making improper stock purchases just before the company announced the SPAC merger in December 2020. The company listed on the Nasdaq in late June 2021 in a SPAC transaction that netted it about $379 million. “I’m very disappointed by this outcome because our ELMS team demonstrated incredible determination to get our electric vans ready to meet the critical need for clean, connected vehicles that reduce carbon emissions from ground transportation,” McIntyre said in the statement. “Unfortunately, there were too many obstacles for us to overcome in the short amount of time available to us.” Taylor, a former GM executive who once ran the Hummer brand, had served as CEO while Luo, a former CEO of Ford China, was chairman. The company’s market value had been as high as $1.4 billion shortly after it started trading, based on closing prices. Quote Link to comment Share on other sites More sharing options...
bzcat Posted June 13, 2022 Share Posted June 13, 2022 Another pump and dump stock scheme that pretended it was an EV company. Quote Link to comment Share on other sites More sharing options...
rmc523 Posted June 13, 2022 Share Posted June 13, 2022 Never heard of it. And also not sure why it's in the Ford section lol. Quote Link to comment Share on other sites More sharing options...
Bob Rosadini Posted June 13, 2022 Author Share Posted June 13, 2022 48 minutes ago, rmc523 said: Never heard of it. And also not sure why it's in the Ford section lol. Uh..I guess because there has been a lot of varied discussions on Ev's here..and a competitor bites the dust...and also two industry guys- a GM guy and a Ford guy who HAD fairly significant positions come away from this thing with a significant stain on their records. If there was breaking news on Trevor Milton, would you object to it being posted here as well because you probably HAVE heard of him???? Quote Link to comment Share on other sites More sharing options...
blwnsmoke Posted June 13, 2022 Share Posted June 13, 2022 18 minutes ago, Bob Rosadini said: Uh..I guess because there has been a lot of varied discussions on Ev's here..and a competitor bites the dust...and also two industry guys- a GM guy and a Ford guy who HAD fairly significant positions come away from this thing with a significant stain on their records. If there was breaking news on Trevor Milton, would you object to it being posted here as well because you probably HAVE heard of him???? So wouldn't one put it in the competitor forum then? Quote Link to comment Share on other sites More sharing options...
Bob Rosadini Posted June 14, 2022 Author Share Posted June 14, 2022 24 minutes ago, blwnsmoke said: So wouldn't one put it in the competitor forum then? My bad, shame on me, guilty as charged. I usually go to this topic as it seems to me it usually has a good mix of industry subjects. Quote Link to comment Share on other sites More sharing options...
rmc523 Posted June 16, 2022 Share Posted June 16, 2022 On 6/13/2022 at 7:57 PM, Bob Rosadini said: Uh..I guess because there has been a lot of varied discussions on Ev's here..and a competitor bites the dust...and also two industry guys- a GM guy and a Ford guy who HAD fairly significant positions come away from this thing with a significant stain on their records. If there was breaking news on Trevor Milton, would you object to it being posted here as well because you probably HAVE heard of him???? Who? Quote Link to comment Share on other sites More sharing options...
rperez817 Posted June 18, 2022 Share Posted June 18, 2022 On 6/13/2022 at 7:57 PM, Bob Rosadini said: If there was breaking news on Trevor Milton, would you object to it being posted here as well because you probably HAVE heard of him???? On 6/15/2022 at 10:00 PM, rmc523 said: Who? Trevor Milton is the former founder and executive chairman of Nikola Motors. Last July, he was indicted for securities fraud and wire fraud. He remains free on $100 million bond while awaiting trial. The news was posted in this thread in the Competing Products section of this site. Quote Link to comment Share on other sites More sharing options...
Bob Rosadini Posted June 18, 2022 Author Share Posted June 18, 2022 7 hours ago, rperez817 said: Trevor Milton is the former founder and executive chairman of Nikola Motors. Last July, he was indicted for securities fraud and wire fraud. He remains free on $100 million bond while awaiting trial. The news was posted in this thread in the Competing Products section of this site. Minor detail. He actually made videos of his class 8 in action....only problem was he had it positioned on a hill, it had no functioning powertrain and they shot video of it moving down hill..thx to Isacc Newton! 1 Quote Link to comment Share on other sites More sharing options...
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