ElectraMeccanica Appoints Global Automotive Executive, Michael Richardson to Board of Directors
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) announced the appointment of Michael Richardson to its Board of Directors. With nearly 50 years of experience in the automotive sector, Richardson has held executive roles at notable companies, including Dura Automotive and General Motors. His expertise in vehicle electrification and strategic growth aligns with ElectraMeccanica's shift from product development to scaling production of its SOLO electric vehicle. The company aims to enhance its market presence and create long-term value for shareholders through Richardson's insights and industry knowledge.
- Appointment of Michael Richardson, an automotive industry veteran, to the Board of Directors.
- Richardson's extensive experience in vehicle electrification and growth strategy could enhance ElectraMeccanica's capabilities.
- Strategic leadership expected to support the company as it shifts focus to scaling SOLO production.
- Potential concerns regarding continuity and experience gaps in management as new board members are integrated.
VANCOUVER, British Columbia, Nov. 23, 2021 (GLOBE NEWSWIRE) -- ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) ("ElectraMeccanica" or the "Company"), a designer and manufacturer of electric vehicles, today announced the appointment of Michael Richardson, a global automotive industry veteran, to its Board of Directors, effective immediately.
Michael Richardson is an accomplished automotive executive with nearly 50 years of global experience, guiding business strategy and building customer solutions. Most recently he served as Interim CEO of Dura Automotive where he was tasked with delivering multiple strategic, urgent initiatives during the global pandemic. He currently serves as an Independent Director on the Board of Directors for both Dura and Shape Corporation.
Mr. Richardson’s career spanned key roles at General Motors, Delphi Corporation and Nexteer Automotive, serving in multiple positions within the multi-billion-dollar global steering and driveline businesses, with focus on the development of electric steering systems, steering columns, driveline systems as well as advanced driver assistance systems (ADAS) and key technologies enabling reliable vehicle autonomy. He began in 1974 as a co-operative student at the former Saginaw steering gear division of General Motors and was ultimately appointed Executive Board Director and President of Nexteer, where he was responsible for building its global product portfolio, expanding customers served and delivering industry leading growth. Richardson graduated with a Bachelor’s degree in Mechanical Engineering from Kettering University and holds a Master’s degree in Business Administration.
“We are privileged to welcome Michael to the Board as an Independent Director, as he brings valuable automotive industry experience and insights in management, brand building and growth strategy,” said Kevin Pavlov, CEO of ElectraMeccanica. “Michael joins us at an opportune time with his firsthand knowledge of advancing capabilities in vehicle electrification and product development, as well as leading global brands through strategic growth initiatives. In addition, his knowledge of corporate strategy, M&A and strategic alliances will support our worldwide expansion strategies. We believe that Michael will help us increase the breadth and depth of our reach as a Company, positioning us to continue to create long-term value for our shareholders.”
Richardson added: “ElectraMeccanica has reached a key inflection point in its evolution, and I am honored to offer my insight as the Company turns its focus from product development to scaling production to meet demand for its SOLO EV. I look forward to working alongside Kevin and the rest of the board to build its vision of providing exciting, unique driving experiences that are both affordable and environmentally friendly.”
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
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Investor Relations Contact
MZ Group
(203) 741-8811
SOLO@mzgroup.us
Public Relations Contact
Amy Pandya
R&CPMK
(310) 967-3418
amy.pandya@rogersandcowanpmk.com
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