Electric Last Mile Provides Update on Pre-Orders and Start of Production

TROY, Mich.--(BUSINESS WIRE)--Electric Last Mile, Inc. (“ELMS” or “the Company”), a commercial electric vehicle (“EV”) company focused on last mile delivery solutions, announced it has received over 45,000 non-binding pre-orders for its Urban Delivery class 1 commercial EV. The Company also announced its intention to begin production of the Urban Delivery at the Mishawaka, Indiana manufacturing facility by the end of the third quarter of 2021, which would make the Urban Delivery the first class 1 commercial EV officially available in the U.S. market. As part of its customer process, ELMS will continue working with pre-order customers to finalize specific duty-cycle requirements and allocation schedules as it seeks to obtain binding purchase orders and as it prepares for the anticipated start of production later this year. The Company recently announced its plan to acquire the Indiana manufacturing facility as part of its pending merger with Forum Merger III Corporation (Nasdaq: FIII). Upon closing of the merger transaction, the combined company will be named Electric Last Mile Solutions, Inc. and the common stock of Electric Last Mile Solutions, Inc. is expected to be listed on the Nasdaq Capital Market under the new ticker symbol, “ELMS.”