Electric Last Mile Solutions Inc. said on Wednesday it has secured a purchase order for 1,000 units of its urban delivery van from distribution partner Randy Marion Automotive Group.
Shares of the Michigan-based electric vehicle company rose 11 percent to $7.92 in afternoon trading.
The purchase order comes after the company commenced production of its all-electric delivery van on Monday.
Electric Last Mile, which went public through a SPAC merger in June, said it plans to ship the first few units on Sept. 28 from its Mishawaka, Ind., facility.
Last month, the company said despite a delay in closing the merger and global supply chain challenges due to the COVID-19 pandemic, it is on track to meet its full-year production targets for 2022.
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