DETROIT — U.S. electrical industrial automotive maker Electrical Final Mile Options acknowledged on Monday it has signed a letter of intent for Cox Automotive to supply service and repairs for the availability van it will launch later this yr.
Underneath the deal, Cox’s Pivet unit will current assure repairs, automotive repairs, roadside assist, collision repairs and EV battery servicing to ELMS’ prospects, the companies acknowledged. Cox boasts a neighborhood of higher than 6,000 service services, 3,000 companions and over 800 mobile technicians. Monetary phrases weren’t disclosed.
“The chance to collaborate with business chief Cox Automotive helps put us on monitor to supply prospects some of the complete service options that addresses their fleet wants in essentially the most time and cost-efficient method,” ELMS CEO James Taylor acknowledged in a press launch.
Cox, a subsidiary of privately owned Cox Enterprises, owns the Autotrader on-line automotive market, Kelley Blue Guide car valuation service and Manheim, which auctions vehicles. Cox moreover invested in EV startup Rivian.
ELMS plans to launch a small Class 1 electrical provide van on the end of the third quarter, adopted by a much bigger Class 3 truck inside the second half of 2022. The Troy, Michigan-based producer has agreed to go public by the use of a reverse merger with special-purpose acquisition firm Discussion board Merger III Corp. in a deal anticipated to close inside the second quarter.
Each vehicles is perhaps assembled on the former Hummer plant in Mishawaka, Indiana, that ELMS intends to amass from China’s Chongqing Sokon Business Group Inventory Co. when the SPAC deal closes.
ELMS’ vehicles is perhaps based mostly totally on Sokon’s industrial van made in China, and the batteries is perhaps geared up by Chinese language battery firm CATL.
The small van has a starting price of $32,500 sooner than the $7,500 federal tax credit score rating and a driving differ of 150 miles. It’ll embody such choices as over-the-air updates.