Commercial EV startup ELMS signs battery supply deal with CATL
Information about Commercial EV startup ELMS signs battery supply deal with CATL
By Ben Klayman
DETROIT (Reuters) – U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) on Thursday said it has signed a battery supply deal with China’s Contemporary Amperex Technology Co Ltd (CATL).
Financial terms of the deal, which runs through 2025, were not disclosed. CATL’s batteries power the Class 1 small delivery vehicle that ELMS began building last month at its plant in Mishawaka, Indiana.
The companies are also exploring a setup where CATL would have a U.S. plant that would make battery cells and ship them to the ELMS plant in Indiana for assembly into battery packs, an ELMS spokesman said.
“We reached an important milestone to secure battery capacity in an extremely challenging supply environment,” ELMS’ deputy chief financial officer, Rob Song, said in …