ElectraMeccanica Releases First Photos and Video from SOLO EV Assembly Line
ElectraMeccanica (NASDAQ: SOLO) has announced that its SOLO electric vehicles are set to hit the U.S. market this fall. Following the commencement of production with Zongshen Industrial Group, initial deliveries are expected in late November to early December for pre-order customers in the Western U.S. The SOLO is a three-wheeled, all-electric vehicle designed for urban environments, featuring a range of 100 miles and a top speed of 80 mph, priced at $18,500. The company is expanding its retail presence across the West Coast.
- Production of SOLO EV has commenced, increasing investor confidence.
- Expected initial deliveries by late November to early December could boost early sales.
- Expansion of retail locations throughout the West Coast enhances market presence.
- None.
SOLO EVs Are Coming to the U.S. Soon
VANCOUVER, British Columbia, Sept. 08, 2020 (GLOBE NEWSWIRE) -- ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the "Company"), a designer and manufacturer of electric vehicles, today released the first photos and video footage of a behind-the-scenes look at current SOLO EV production vehicles on the assembly line. Completed vehicles are expected to hit U.S. market this fall.
Last month ElectraMeccanica announced the commencement of production of the SOLO EV through its manufacturing partner and strategic investor, Zongshen Industrial Group (“Zongshen”). The Company has targeted late November/early December for initial deliveries to those on its pre-order list before ramping production to meet increasing demand. The first deliveries will be to early adopters/reservation holders in the Western U.S. where the Company has an existing and expanding retail footprint.
“We’re excited to share these first images from our assembly line as we continue to ramp production to meet the increasing demand for our vehicles,” said ElectraMeccanica CEO Paul Rivera. “Going forward, as always, we are making every effort to ensure that customer care for our future drivers will be fully supported and that the ‘Drive SOLO’ experience is second to none.”
ElectraMeccanica currently maintains SOLO EV retail locations in the Los Angeles, CA area as well as in Scottsdale, AZ and in a residential suburb near Portland, OR. In the coming months the Company has yet-to-be-announced plans for additional retail locations throughout other West Coast locations.
To see video from the Company’s SOLO EV assembly line, featuring commentary from ElectraMeccanica CEO Paul Rivera, please click here.
The SOLO is a purpose-built, three-wheeled, all-electric solution for the urban environment. 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 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
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. The SOLO provides a driving experience that is unique, trendy, fun, affordable and environmentally friendly. 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 Statement
Except 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.
Company Contact
Ms. Bal Bhullar, CPA, CGA, CRM
Chief Financial Officer & Director
(604) 428-7656
Bal@electrameccanica.com
Investor Relations Contact
Gateway Investor Relations
Matt Glover and Tom Colton
(949) 574-3860
SOLO@gatewayir.com
Public Relations Contact
Amy Pandya
R&CPMK
(310) 967-3418
amy.pandya@rogersandcowanpmk.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b78b06fa-8941-4c78-b693-91a438957f34
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