ElectraMeccanica Reports AGM Results
01 Agosto 2022 - 5:30PM
Business Wire
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO)
(“ElectraMeccanica” or the “Company”) is pleased to
announce the results of the Company’s annual general meeting (the
“AGM”) held on July 27, 2022.
At the AGM, the Board of Directors (the “Board”) reviewed
and approved its fiscal 2021 results and information circular and
proxy statement, which can be accessed on SEDAR (www.sedar.com) and
which provides additional detail on the Company, its operations and
governance. Highlights include:
- Re-election of Kevin Pavlov, Steven Sanders, Jerry Kroll, Luisa
Ingargiola, Joanne Yan, Dave Shemmans, Michael Richardson and
William Quigley as Directors of the Company for the ensuing year,
continuing with their various appointments across the Audit,
Compensation and Nominating and Governance Committees.
- The addition of auto-industry veteran Dietmar Ostermann as a
Board Director.
- Appointments of the below individuals as executive officers of
the Company:
- Kevin Pavlov, President and Chief Executive Officer
- Bal Bhullar, Chief Financial Officer
- Joseph Mitchell, Chief Operating Officer
- Isaac Moss, Chief Administrative Officer and Corporate
Secretary
- Kim Brink, Chief Revenue Officer
- The re-appointment of KPMG LLP, Chartered Professional
Accountants, as the Company’s auditor for the ensuing year.
Steven Sanders, the Company’s ongoing Chairman, stated: “While
the operating environment for any kind of advanced manufacturing
has only grown more complex, the Board remains pleased with
ElectraMeccanica’s progress as an emerging OEM. Kim Brink and
Joseph Mitchell are essential additions to the management team
under new CEO Kevin Pavlov, and with the election of Dietmar
Ostermann to the Board alongside seasoned auto industry experts
Dave Shemmans, Michael Richardson and William Quigley, we now have
a slate of executives and Directors with the most automotive and
operating experience ElectraMeccanica has ever had. We look forward
to continuing to scale and onshore production by building and
selling innovative electric vehicles that serve our unique
horizontal market, comprising everyday consumer needs for
hyper-efficient, nimble and design-forward electric mobility.”
Dietmar Ostermann recently retired as Senior Partner in PwC’s
Automotive Practice advising automotive OEMs, auto suppliers,
dealers, auto aftermarket parts manufacturers and service chains.
Dietmar served as PwC's US Automotive Advisory Leader based in
Detroit. In this role, Dietmar coordinated PwC’s US auto Consulting
and Deals activities, while also serving select OEM and supplier
clients. Dietmar lead PwC’s Global Auto Advisory Practice for 5
years before focusing on North America in 2017. Ostermann ran A.T.
Kearney from 2000 to 2003 having previously held the roles of
Managing Director Germany, and prior to that US Auto Practice
Leader. Dietmar Ostermann began his automotive career at BMW in
manufacturing engineering and logistics.
The Board would like to thank the shareholders for their ongoing
support.
About ElectraMeccanica Vehicles Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian
designer and manufacturer of environmentally efficient electric
vehicles (EVs). The company’s flagship vehicle is the innovative,
purpose-built, single-seat EV called the SOLO. This
three-wheeled vehicle will revolutionize the urban driving
experience, including commuting, delivery and shared mobility.
Engineered for a single occupant, it offers a unique driving
experience for the environmentally conscious consumer. Depending on
driving conditions, temperature and climate controls, the
SOLO has a range of up to 100 miles and a top speed of up to
80 mph. The SOLO also features front and rear crumple zones,
side impact protection, roll bar, torque-limiting control as well
as power steering, power brakes, air conditioning and a Bluetooth
entertainment system. It blends a modern look with safety features
at an accessible price point of $18,500 (MSRP) for the consumer
model and $24,500 (MSRP) for the delivery-oriented SOLO
Cargo model, which features an expanded cargo box to accommodate a
wide variety of fleet and commercial applications. The SOLO
is currently available for order here. For more information, please
visit www.electrameccanica.com.
Safe Harbor Statements
Except for the statements of historical fact contained herein,
the information presented in this news release constitutes
“forward-looking statements” as such term is used in applicable
United States and Canadian securities laws. These statements relate
to analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
“anticipates”, “estimates”, “projects”, “expects”, “contemplates”,
“intends”, “believes”, “plans”, “may”, “will”, or their negatives
or other comparable words) are not statements of historical fact
and should be viewed as “forward-looking statements”. Such forward
looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks and other factors
include, among others, the prices of other electric vehicles, costs
associated with manufacturing vehicles, the availability of capital
to fund business plans and the resulting dilution caused by the
raising of capital through the sale of shares, changes in the
electric vehicle market, changes in government regulation,
developments in alternative technologies, inexperience in servicing
electric vehicles, labour disputes and other risks of the electric
vehicle industry including, without limitation, those associated
with the delays in obtaining governmental approvals and/or
certifications. Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements contained in this news release and in any document
referred to in this news release. Forward-looking statements are
made based on management’s beliefs, estimates and opinions on the
date the statements are made, and the Company undertakes no
obligation to update forward looking statements if these beliefs,
estimates and opinions or other circumstances should change, except
as required by applicable law. Such forward-looking statements
reflect our current views with respect to future events and are
subject to certain risks, uncertainties and assumptions, including,
the risks and uncertainties outlined in our most recent financial
statements and reports and registration statement filed with the
United States Securities and Exchange Commission (the “SEC”)
(available at www.sec.gov) and with Canadian securities
administrators (available at www.sedar.com). Although the Company
believes that the beliefs, plans, expectations and intentions
contained in this news release are reasonable, there can be no
assurance those beliefs, plans, expectations or intentions will
prove to be accurate. Investors should consider all of the
information set forth herein and should also refer to the risk
factors disclosed in the Company’s periodic reports filed from
time-to-time with the SEC. This news release shall not constitute
an offer to sell or the solicitation of an offer to buy securities
of the Company nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20220801005617/en/
Investor Relations Contact Robbie Goffin, Sinter
robbie@sintercompany.com
Public Relations Contact John Franklin, Sinter
john@sintercompany.com
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