Electric Last Mile – Elms And Catl Enter Agreement that Secures Battery Supply Through 2025 for Class 1 Urban Delivery Commercial Electric Vehicle

Electric Last Mile – ELMS and CATL enter agreement that secures battery supply through 2025 for class 1 urban delivery commercial electric vehicle.

Electric Last Mile Solutions, Inc. (NASDAQ: ELMS; ELMSW) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company focused on redefining productivity and sustainability for the last mile, announced major progress in its vehicle battery strategy with an eye towards potential U.S. localization of its electric vehicle batteries.

ELMS reached an agreement with Contemporary Amperex Technology Co., Limited (“CATL”), the global leader of new energy innovative technologies, to supply batteries and secure production capacity needed for its all-electric Class 1 Urban Delivery commercial vehicle. The agreement secures battery supply through 2025.

CATL will provide a 42-kWh lithium-ion battery in the lithium-iron phosphate (LFP) chemistry system, which has demonstrated high safety and reliability, as well as long cycle life. By leveraging CATL’s cell-to-pack (CTP) technology, the battery pack’s design improves system energy density, simplifies manufacturing and results in cost savings. Additionally, both sides are collaborating on future battery localization in the U.S.

Rob Song, Deputy Chief Financial Officer and Treasurer, ELMS.

We reached an important milestone to secure battery capacity in an extremely challenging supply environment.

“This step allows ELMS to guarantee continued utilization of trusted, reliable vehicle components in our products.”

About Electric Last Mile Solutions, Inc.

Electric Last Mile Solutions, Inc. (Nasdaq: ELMS) 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. ELMS’ first vehicle, the Urban Delivery, is the first Class 1 commercial electric vehicle in the U.S. market.

The Company expects to begin production of its second vehicle, the Class 3 Urban Utility EV, in the second half of 2022. ELMS is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.

About Contemporary Amperex Technology Co., Limited

Contemporary Amperex Technology Co., Limited (CATL) is a global leader in new energy technology innovation, committed to providing premier solutions and services for new energy applications worldwide. In June 2018, the company went public on the Shenzhen Stock Exchange with stock code 300750.

According to SNE Research, in the year 2020, CATL’s EV battery consumption volume ranked No.1 in the world for four consecutive years. CATL also enjoys wide recognition by global OEM partners.

To achieve the goal of realizing fossil fuel replacement in stationary and mobile energy systems with highly efficient electrical power systems that are generated through advanced batteries and renewable energy, and promote the integrated innovation of market applications with electrification and intelligentization, CATL maintains continuous innovation in four dimensions including battery chemistry system, structure system, manufacturing system and business models.

Highlights:

• ELMS and CATL enter agreement that secures battery supply through 2025 for Class 1 Urban Delivery commercial electric vehicle
• Companies collaborating on potential future localization of electric vehicle batteries

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ELECTRIC LAST MILE SOLUTIONS LOCKS IN URBAN DELIVERY BATTERY SUPPLY THROUGH 2025, PLANS LOCALIZATION, Troy, Mich., October 14, 2021