American-Made 2023 ElectraMeccanica SOLO EV Now Undergoing Validation Testing
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) has announced that the 2023 SOLO EV is currently undergoing validation testing at a temporary facility in Rochester Hills, Michigan, in partnership with GLV Automotive. The vehicle will be assembled at the Mesa Manufacturing Facility in Arizona, with plans for public delivery in late 2022. The testing is focused on implementing upgrades based on customer feedback to ensure compliance with specifications. CEO Kevin Pavlov emphasized the importance of this partnership and the company's commitment to creating long-term value for shareholders.
- 2023 SOLO EV undergoing validation testing to implement customer feedback.
- Partnership with GLV Automotive enhances engineering and design processes.
- Assembly planned at Mesa Manufacturing Facility for efficiency in mass production.
- Validation testing at a temporary facility indicates delays in full-scale production.
- Public delivery scheduled for late 2022 could impact revenue timelines.
Next-Generation SOLO EV to be Assembled in the U.S.; Currently in Validation Testing at Dedicated Joint Testing Facility with Partner GLV Automotive
VANCOUVER, British Columbia, Dec. 13, 2021 (GLOBE NEWSWIRE) -- ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the "Company"), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, today announced that the 2023 SOLO EV – to be assembled at the Company’s Mesa Manufacturing Facility in Arizona for delivery to the public in late 2022 – is now undergoing validation testing at a dedicated temporary testing facility.
The validation testing is intended to ensure the new 2023 SOLO EV – which implements a suite of upgrades based on customer feedback – meets all desired specifications. The validation testing is taking place at a temporary facility in Rochester Hills, Michigan in conjunction with GLV Automotive.
Kevin Pavlov, CEO of ElectraMeccanica commented, “GLV Automotive has been an invaluable partner as we finalize the engineering and design for the model year 2023 SOLO EV, implementing seemingly minor but impactful improvements throughout. In addition, we are working to identify vehicle assembly best practices with the objective of implementing throughout our Mesa Manufacturing Facility to improve the efficacy as we scale to mass production.
“We are executing on all fronts, concurrently progressing our business in several key areas at once. I look forward to continued progress in the months ahead as we strive to create sustainable, long-term value for our shareholders,” concluded Pavlov.
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
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.
Investor Relations Contact
MZ Group
(949) 259-4987
SOLO@mzgroup.us
Public Relations Contact
Amy Pandya
R&CPMK
(310) 967-3418
amy.pandya@rogersandcowanpmk.com
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