EV maker Electric Last Mile Solutions files for bankruptcy

FILE PHOTO: U.S. commercial electric vehicle maker Electric Last Mile Solutions (ELMS) shows its all-electric Urban Utility van and commercial truck in Troy, Michigan, U.S. November 19, 2021. REUTERS/Rebecca Cook

(Reuters) - U.S. commercial electric vehicle maker Electric Last Mile Solutions Inc (ELMS) said on Sunday it is planning to file for Chapter 7 bankruptcy, after a review of its products and commercialization plans.

The move comes after the Troy, Michigan-based company disclosed a probe by the U.S. Securities and Exchange Commission and withdrew all its previously issued business outlook in March.