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Dec 17, 2020

Electric Last Mile, Inc. (ELMS)

Electric Last Mile, Inc. (ELMS), an electric vehicle (EV) company focused on commercial and delivery fleet vehicles, announced intentions today to establish operations and launch production at the former AM General commercial plant in Mishawaka. Subject to the completion of ELMS' recently announced business combination with Forum Merger III Corporation (Nasdaq: FIII), the company plans to create up to 960 new jobs by the end of 2024 to support its expansion plans in Indiana.




 

"ELMS' decision to fuel its growth in Indiana is a testament to the state’s business-friendly environment, strong automotive sector and skilled, diverse workforce," said Governor Eric J. Holcomb. "We're excited ELMS is choosing to launch production at the former AM General facility in Mishawaka and look forward to supporting their growth as the company delivers advanced electric vehicle solutions and creates hundreds of quality career opportunities for Hoosiers."



The Auburn Hills, Michigan-based company plans to invest more than $300 million in the 675,500-square-foot former AM General facility at 12900 McKinley Highway in Mishawaka. The facility is expected to support the production and assembly of ELMS’ electric Urban Delivery vehicle, with the capacity to manufacture up to 100,000 vehicles annually. The company plans to launch production by the third quarter of 2021.

The Indiana Economic Development Corporation (IEDC) offered ELMS up to $10 million in conditional tax credits and up to $200,000 in conditional training grants based on the company’s job creation plans. The IEDC also offered up to $2.8 million in conditional tax credits from the Hoosier Business Investment (HBI) tax credit program based on the company’s planned capital investment in Indiana. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. St. Joseph County will consider additional incentives at the request of the St. Joseph County Division of Economic Development.

Indiana is a leader in manufacturing, with 8,500 manufacturing facilities and the highest concentration of manufacturing jobs in the nation. With more than 500 automotive suppliers and five original equipment manufacturer (OEM) companies, Indiana supports the second largest automotive sector by GDP in the U.S., producing more than 1.3 million cars and light trucks annually.