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<blockquote data-quote="Weather Man" data-source="post: 16671846" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3742141-electric-last-mile-solutions-gains-on-securing-1000-binding-purchase-orders" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3742141-electric-last-mile-solutions-gains-on-securing-1000-binding-purchase-orders" target="_blank">Electric Last Mile Solutions gains on securing 1,000 binding purchase orders</a></p><ul> <li data-xf-list-type="ul">Electric Last Mile Solutions (NASDAQ:<a href="https://seekingalpha.com/symbol/ELMS" target="_blank">ELMS</a>) +2.2% premarket, has <a href="https://seekingalpha.com/pr/18482248-electric-last-mile-solutions-secures-1000-binding-orders-start-of-production-begins" target="_blank">received</a> a binding purchase order for 1,000 units of its Urban Delivery vehicle from its distribution partner, Randy Marion Automotive Group.</li> <li data-xf-list-type="ul">Production for the Urban Delivery started on September 20 and the company plans to ship its first units from its production facility in Mishawaka, Indiana on September 28.</li> <li data-xf-list-type="ul">“From the outset, we stated that our goal was to deliver the first commercial Class 1 EV to the U.S. market, and with the start of production this week we will achieve that milestone,” said ELMS CEO James Taylor. “This order is reflective of the work that we do with our customers and sales channel partners to understand and meet their unique business needs.”</li> </ul><p></p><p><a href="https://seekingalpha.com/news/3742136-sonic-automotive-acquires-rfj-auto-partners-adds-32b-in-annualized-revenue" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3742136-sonic-automotive-acquires-rfj-auto-partners-adds-32b-in-annualized-revenue" target="_blank">Sonic Automotive acquires RFJ Auto Partners, adds $3.2B in annualized revenue</a></p><ul> <li data-xf-list-type="ul">Sonic Automotive (NYSE:<a href="https://seekingalpha.com/symbol/SAH" target="_blank">SAH</a>) +2% premarket, has <a href="https://seekingalpha.com/pr/18482216-sonic-automotive-adds-3_2-billion-in-annualized-revenues-acquisition-of-rfj-auto-partners" target="_blank">added</a> $3.2B in annual revenue through acquisition of RFJ Auto Partners, representing an incremental 30% increase in franchised dealership revenues above the company’s previously stated target of $25B in total revenues by 2025.</li> <li data-xf-list-type="ul">The transaction will add six incremental states to Sonic’s geographic coverage and five additional brands to its portfolio, including the highest volume Chrysler Jeep Dodge RAM dealer in the world in Dave Smith Motors.</li> <li data-xf-list-type="ul">This acquisition represents one of the largest transactions in automotive retail history and is expected to propel Sonic Automotive into the top-five largest dealer groups in the U.S. as measured by total revenues.</li> <li data-xf-list-type="ul">RFJ Auto generated $2.8B in annual revenues in 2020 with 33 locations in seven states and a portfolio of 16 automotive brands.</li> <li data-xf-list-type="ul">“This transaction is well-aligned with our strategy to grow our franchised dealership business by acquiring franchises that increase our geographic reach and expand our brand portfolio,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive.”</li> <li data-xf-list-type="ul">The company says EchoPark is on track to achieve 25% population coverage by the end of 2021, and 90% population coverage by 2025.</li> <li data-xf-list-type="ul">The RFJ Auto transaction is expected to close in December 2021.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16671846, member: 137766"] [URL='https://seekingalpha.com/news/3742141-electric-last-mile-solutions-gains-on-securing-1000-binding-purchase-orders'] Electric Last Mile Solutions gains on securing 1,000 binding purchase orders[/URL] [LIST] [*]Electric Last Mile Solutions (NASDAQ:[URL='https://seekingalpha.com/symbol/ELMS']ELMS[/URL]) +2.2% premarket, has [URL='https://seekingalpha.com/pr/18482248-electric-last-mile-solutions-secures-1000-binding-orders-start-of-production-begins']received[/URL] a binding purchase order for 1,000 units of its Urban Delivery vehicle from its distribution partner, Randy Marion Automotive Group. [*]Production for the Urban Delivery started on September 20 and the company plans to ship its first units from its production facility in Mishawaka, Indiana on September 28. [*]“From the outset, we stated that our goal was to deliver the first commercial Class 1 EV to the U.S. market, and with the start of production this week we will achieve that milestone,” said ELMS CEO James Taylor. “This order is reflective of the work that we do with our customers and sales channel partners to understand and meet their unique business needs.” [/LIST] [URL='https://seekingalpha.com/news/3742136-sonic-automotive-acquires-rfj-auto-partners-adds-32b-in-annualized-revenue'] Sonic Automotive acquires RFJ Auto Partners, adds $3.2B in annualized revenue[/URL] [LIST] [*]Sonic Automotive (NYSE:[URL='https://seekingalpha.com/symbol/SAH']SAH[/URL]) +2% premarket, has [URL='https://seekingalpha.com/pr/18482216-sonic-automotive-adds-3_2-billion-in-annualized-revenues-acquisition-of-rfj-auto-partners']added[/URL] $3.2B in annual revenue through acquisition of RFJ Auto Partners, representing an incremental 30% increase in franchised dealership revenues above the company’s previously stated target of $25B in total revenues by 2025. [*]The transaction will add six incremental states to Sonic’s geographic coverage and five additional brands to its portfolio, including the highest volume Chrysler Jeep Dodge RAM dealer in the world in Dave Smith Motors. [*]This acquisition represents one of the largest transactions in automotive retail history and is expected to propel Sonic Automotive into the top-five largest dealer groups in the U.S. as measured by total revenues. [*]RFJ Auto generated $2.8B in annual revenues in 2020 with 33 locations in seven states and a portfolio of 16 automotive brands. [*]“This transaction is well-aligned with our strategy to grow our franchised dealership business by acquiring franchises that increase our geographic reach and expand our brand portfolio,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive.” [*]The company says EchoPark is on track to achieve 25% population coverage by the end of 2021, and 90% population coverage by 2025. [*]The RFJ Auto transaction is expected to close in December 2021. [/LIST] [/QUOTE]
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