US electric vehicle maker ELMS files for bankruptcy

Electric delivery van maker Electric Last Mile Solutions, under investigation by a top US securities regulator, has announced plans to file for bankruptcy, less than a year after going public.

The Michigan-based company, which aimed to provide urban delivery vehicles, announced late Sunday had filed for Chapter 7 bankruptcy, or liquidation.

In February, the company's CEO, Jim Taylor, and chairman, Jason Luo, resigned following an internal investigation into share purchases by the co-founders before ELMS went public.

ELMS appointed board member Shauna McIntyre as interim CEO to review the company's products and plans.