EV startup Mullen to bid for bankrupt Electric Last Mile Solutions

California-based EV startup Mullen Automative has emerged as the leading bidder for the assets of bankrupt commercial EV maker Electric Last Mile Solutions (ELMS). Mullen has agreed to a stalking horse bid of "almost $100 million in total consideration", according to a filing. Mullen will pay $55 million for ELMS' assets including its Indiana plant, and $37 million in liabilities.