EV start-up planning bankruptcy filing ...Middle East

Electric Last Mile Solutions (ELMS), an electric vehicle start-up company, has announced it has filed for Chapter 7 bankruptcy.  “Ultimately, the Board determined, following a comprehensive review with the assistance of the Company's outside advisors, and upon the recommendation of the Company's management, that it is in the best interest of the Company and the Company's stockholders, stakeholders, creditors, and other interested parties to file for Chapter 7 relief,” ELMS said in a statement.  The start-up company said a leadership team led by the newly-appointed interim CEO and President Shauna McIntyre had launched a review of the company’s products and commercialization plans an

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