ElectraMeccanica SOLO EV Sales Update

Rhea-AI Summary

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) announced the delivery of a total of 42 SOLO EVs to reservation and fleet holders as of November 30, 2021. Deliveries started on October 4, 2021. CEO Kevin Pavlov noted an increase in consumer excitement, highlighted by over 900 test drives at the LA Auto Show. The SOLO EV is designed for urban driving, featuring a range of 100 miles and a top speed of 80 mph, priced at $18,500. The company continues its growth trajectory in the electric vehicle market.

Positive

• 42 SOLO EVs delivered as of November 30, 2021.
• Successful consumer engagement with over 900 test drives at LA Auto Show.
• Strong market interest in the SOLO EV reflects potential for future sales.

Negative

• None.

Announces Total of 42 SOLO EVs Delivered to Consumers & Fleets

VANCOUVER, British Columbia, Dec. 06, 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 as of November 30, 2021 the Company has delivered a total of 42 SOLO EVs to reservation and fleet holders. Delivery of SOLO’s to reservation holders and fleets commenced on October 4^th at an invite only event at the Los Angeles Hilton.

Kevin Pavlov, CEO of ElectraMeccanica commented, “ElectraMeccanica continues to execute, delivering 42 SOLO EV vehicles as of November 30^th. The excitement surrounding our flagship SOLO EV continues to gain momentum, further evident in the overwhelming number of visitors and test drive participants during the recent Los Angeles Auto Show. In addition to delivering SOLO EVs to reservation holders and fleets, over 900 individuals enjoyed test drives at the LA Auto Show, exceeding our expectations. DRIVE SOLO!”

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8d1b78-8a93-41d4-84ed-23110e0ed6ed

https://www.globenewswire.com/NewsRoom/AttachmentNg/fef4f5d7-0674-4639-a102-9e7610f115fc

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 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

 

FAQ

How many SOLO EVs has ElectraMeccanica delivered by November 30, 2021?

ElectraMeccanica has delivered a total of 42 SOLO EVs by November 30, 2021.

What is the price of the SOLO EV?

The SOLO EV is priced at $18,500.

When did deliveries of the SOLO EVs commence?

Deliveries of SOLO EVs commenced on October 4, 2021.

What features does the SOLO EV offer?

The SOLO EV features a range of 100 miles, a top speed of 80 mph, and includes modern safety features.

Where was the launch event for the SOLO EV held?

The launch event for the SOLO EV was held at the Los Angeles Hilton.