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EV Startup Electric Last Mile Warns It May Run Out of Cash in June
Urban Delivery electric vans on the production line at the Electric Last Mile Solutions facility in Mishawaka, Indiana.
Photographer: Taylor Glascock/BloombergThis article is for subscribers only.
Electric Last Mile Solutions Inc. warned Friday it may run out of cash in June, at least one month sooner than previously projected, unless it can raise additional capital.
The latest projections reflect higher costs in a number of areas, including employee retention and payments to suppliers, the Troy, Michigan-based electric vehicle startup said in a filing.