US start-up ELMS heading towards its end
US start-up Electric Last Mile Solutions (ELMS), which specialises in commercial electric utility vehicles, has filed for bankruptcy. The bankruptcy filing comes about a year after the company went public and follows the resignation of its founders James Taylor and Jason Luo and an investigation by the US Securities and Exchange Commission (SEC).
Uniti files for insolvency
The Swedish electric car start-up Uniti has filed for insolvency. The company announced on LinkedIn that it had not been able to raise enough capital. The move does not come as a surprise.
e.GO Mobile applies for self-administered insolvency
The Aachen-based electric car manufacturer e.GO Mobile has filed an application for a protective shielding procedure with Aachen Local Court – a special form of insolvency in self-administration. The Chinese investor planning to join the German startup apparently could not participate as intended due to the effects of the Covid-19 pandemic.