GlobeNewswire Inc | Sep 24, 2021 07:05AM EDT

September 24, 2021

-- Rob Song, Deputy Chief Financial Officer and Treasurer, bringing extensive finance and capital markets experience -- Ron Feldeisen, Chief Revenue Officer, bringing senior executive Global B2B sales experience

TROY, Mich., Sept. 24, 2021 (GLOBE NEWSWIRE) -- Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (ELMS or the Company), a pure-play commercial electric vehicle (EV) company focused on redefining productivity for the last mile, today announced two executive appointments.

Rob Song was appointed as Deputy Chief Financial Officer and Treasurer bringing nearly 20 years of diverse finance experience to ELMS, spanning public company finances, investments, debt and equity capital markets and investor relations. Ron Feldeisen joined as Chief Revenue Officer with 30 years of automotive, business-to-business and large enterprise sales experience.

We continue to hire top talent to support our growth plans as we ramp up our production of the ELMS Urban Delivery, the first Class 1 commercial electric vehicle in the United States. Rob and Ron bring diverse and extensive finance and sales knowledge to our team, said James Taylor, ELMS Co-Founder and CEO. Their leadership roles are crucial to execute our go-to-market strategy as we transition from a pre-revenue to revenue generating company and begin delivering vehicles with unique solutions to our customers.

Before joining ELMS, Mr. Song served as Chief Investment Officer of CorePoint Lodging Inc., a publicly traded real estate investment trust. Prior to that, he was involved in the planning and execution of capital markets activities for Alphabet, Inc. Mr. Song also spent eight years at Morgan Stanley in New York and Sydney, serving as Vice President of Investment Banking. He holds a Bachelor of Commerce in Actuarial Science and a Master of Finance from Macquarie University in Australia.

Mr. Feldeisen served in various executive sales and marketing roles before joining ELMS. As Senior Vice President of Global Sales and Marketing at JR Automation, an automated manufacturing and robotics company, he played a key role in the companys transformation to deliver software-based solutions. He also served as Senior Vice President of Global Sales and Marketing for Joyson Safety Systems, a leading Tier 1 automotive safety supplier, recognized as one of the fastest-growing companies in its sector. Mr. Feldeisen holds a Bachelor of Science in Engineering from Grove City College and a Master of Business Administration from Duke University.

About Electric Last Mile Solutions, Inc.Electric Last Mile Solutions, Inc. is focused on defining a new era in which commercial vehicles run clean as connected and customized solutions that make our customers businesses more efficient and profitable. The Company is differentiating itself from the traditional OEM approach by focusing exclusively on Class 1 to Class 3 commercial vehicle segments. ELMS first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.

Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Companys actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as expect, estimate, project, budget, forecast, anticipate, intend, plan, may, will, could, should, believes, predicts, potential, continue, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Companys expectations with respect to future performance of the business, the size, demands and growth potential of the markets for the Companys products and the Companys ability to serve those markets, the Companys ability to develop innovative products and compete with other companies engaged in the commercial delivery vehicle industry and/or the electric vehicle industry, the Companys ability to attract and retain customers, the estimated go to market timing and cost for the Companys products, and the implied valuation of the Company. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Companys control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; (2) changes in applicable laws or regulations; (3) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (4) the impact of COVID-19 on the Companys business; (5) any delays the Company may experience in realizing its projected timelines and cost and volume targets for the production, launch and ramp up of production of the Companys vehicles and the modification of its manufacturing facility; (6) the ability of the Company to obtain customers, obtain product orders, and convert its non-binding pre-orders into binding orders or sales; (7) the Companys ability to implement its business plans and strategies; and (8) other risks and uncertainties described in the Risk Factors section of the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and in the Companys future filings with the Securities and Exchange Commission. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that the Company considers immaterial or which are unknown. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

ContactsFor Electric Last Mile, Inc.elms-svc@sardverb.comIR@electriclastmile.com