Electric Last Mile Solutions

How it happened

Electric Last Mile Solutions (ELMS) was a commercial EV maker that went public via SPAC in 2021 at roughly a $1.4B valuation. Following the resignation of top executives over an undisclosed share purchase and a going-concern warning, it filed for Chapter 7 bankruptcy in June 2022, becoming the first EV de-SPAC to go bankrupt and losing nearly all of its value. Employees sensed the rot early: Glassdoor reviewers branded the company fraudulent months before the end and faulted reckless decision-making at the top. Several described leadership looking after itself while much of the workforce was cut, calling the collapse a scam on staff and investors alike.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.