The company, which sold electric urban delivery trucks and vans, went public in
Share prices in the company had tanked 93% as of the close of trading last week and had dropped another 55% in premarket trading. The official bankruptcy filing is expected in the next few days.
"I'm very disappointed by this outcome because our ELMS team demonstrated incredible determination to get our electric vans ready to meet the critical need for clean, connected vehicles that reduce carbon emissions from ground transportation," McIntyre said in a statement to Bloomberg.
"Unfortunately, there were too many obstacles for us to overcome in the short amount of time available to us."
McIntyre has served as the interim CEO since February when founder
The company said it was under investigation by the
Copyright 2022 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source