ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO)
(“ElectraMeccanica” or the "Company"), a designer and manufacturer
of electric vehicles revolutionizing the urban driving experience,
has commenced the first commercial deliveries of its flagship
single-seat
SOLO electric vehicle (EV) as part of
an invite-only unveiling event held in Los Angeles, California on
October 4, 2021.
The event was hosted by the ElectraMeccanica
senior management team at the Universal Hilton Hotel, adjacent to
the iconic Universal Studios and a brief drive from the Los Angeles
ElectraMeccanica Service and Pre-Delivery Inspection Facility.
Initial deliveries were provided to early consumer reservation
holders and the first fleet customers, including Skechers USA,
Faction Technology, Cyber Yogurt and a popular Southern California
Ruby’s Diner franchisee.
“We’re really excited to be contributing to sustainability by
using the SOLO EV as a moving billboard for our
business and to help with deliveries. It’s a fun vehicle to drive
that supports our business initiatives,” said George Alexander,
Ruby’s Mission Viejo.
“Our core values at Cyber Yogurt have always
been quality, service and sustainability. We
wanted to go with the SOLO EV because it allows us
to demonstrate our commitment to sustainability. Even though
we are a small business, we want to do our part to make a
difference in our community,” said Pablo Tamashiro, Owner of Cyber
Yogurt
“Faction is focused on enabling driverless
electric vehicles that are right-sized for delivery and
ride-on-demand. We’re excited to add Solo to our
development fleet and look forward to collaborating
with ElectraMeccanica to evolve the future of urban
mobility,” added Ain McKendrick, Founder and CEO of Faction
Technology.
ElectraMeccanica will continue to ramp
production alongside its manufacturing partner and strategic
investor, Zongshen Industrial Group, which produced early
SOLO vehicles initially used for validation,
marketing and advertising purposes throughout the Company’s robust
retail footprint in 10 major markets spanning five western states.
To support increased production capacities from continued demand,
ElectraMeccanica remains on track to complete its new U.S. Assembly
and Engineering Technical Center in Mesa, Arizona in Summer of
2022, which will have the ability to produce up to 20,000 vehicles
per year.
“The initial customer deliveries of our flagship
SOLO EV marks a transformational milestone not
only for ElectraMeccanica, but for the future of the electric
vehicle industry,” said Kevin Pavlov, CEO of ElectraMeccanica. “As
the first production SOLOs hit the road, I was
reminded that bringing a revolutionary, production-ready EV to
market is no small feat–particularly one as unique and
differentiated as our three-wheeled, single-seat
SOLO. As we look ahead, we will continue to ramp
production to meet the ever-growing demands for right-sized EVs
with a practical everyday use and helping to create sustainable
value for our customers and shareholders alike.”
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. The SOLO has a range of 100
miles and a top speed of 80 mph, making it safe for highways. 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. The SOLO
is currently available for pre-orders here. InterMeccanica, a
subsidiary of ElectraMeccanica, has successfully been building
high-end specialty cars for 61 years. For more information, please
visit www.electrameccanica.com.
Safe Harbor StatementExcept for
the statements of historical fact contained herein, the information
presented in this news release and oral statements made from time
to time by representatives of the Company are or may constitute
“forward-looking statements” as such term is used in applicable
United States and Canadian laws and including, without limitation,
within the meaning of the Private Securities Litigation Reform Act
of 1995, for which the Company claims the protection of the safe
harbor for forward-looking statements. 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 other 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 “expects” or “does not expect”, “is expected”,
“anticipates” or “does not anticipate”, “plans”, “estimates” or
“intends”, or stating that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved) 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 availability of capital to fund programs
and the resulting dilution caused by the raising of capital through
the sale of shares, accidents, labor disputes and other risks of
the automotive industry including, without limitation, those
associated with the environment, delays in obtaining governmental
approvals, permits or financing or in the completion of development
or construction activities or claims limitations on insurance
coverage. 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. Although the Company believes
that the expectations reflected in such forward-looking statements
are based upon reasonable assumptions, it can give no assurance
that its expectations will be achieved. Forward-looking information
is subject to certain risks, trends and uncertainties that could
cause actual results to differ materially from those projected.
Many of these factors are beyond the Company’s ability to control
or predict. Important factors that may cause actual results to
differ materially and that could impact the Company and the
statements contained in this news release can be found in the
Company’s filings with the Securities and Exchange Commission. The
Company assumes no obligation to update or supplement any
forward-looking statements whether as a result of new information,
future events or otherwise. 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. This
news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities.
Investor Relations ContactMZ Group(949)
259-4987SOLO@mzgroup.us
Public Relations ContactAmy
PandyaR&CPMK(310) 967-3418amy.pandya@rogersandcowanpmk.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5637d36a-ce98-4094-a253-2f768d1b0622
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