Electrameccanica Vehs Corp - SOLO STOCK NEWS

Faction Technology, Inc. has launched driverless delivery services in the San Francisco Bay Area, partnering with Cocola Bakery. The service utilizes lightweight electric vehicles from Arcimoto (NASDAQ: FUV) and ElectraMeccanica (NASDAQ: SOLO), ensuring reliable deliveries. Faction employs its DriveLink® and TeleAssist® technologies to enhance safety and efficiency. The company aims to expand its delivery network and plans to introduce services for additional commercial customers at a cost under $2 per mile, reinforcing its goal of revolutionizing micro-logistics.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) has undertaken significant cost-reduction initiatives, consolidating operations at its Mesa, Arizona headquarters and reducing its workforce by 98 positions, a 57% decrease outside Arizona. These measures aim to enhance fiscal discipline and improve operating costs by approximately $10 million annually. CEO Susan Docherty has also been appointed to the Board of Directors. The company's Investor Day has been postponed to June 14, 2023 to focus on immediate business execution.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) announces major leadership changes as Susan Docherty takes on the roles of both CEO and Interim COO, effective immediately. The resignation of Kevin Pavlov and Joe Mitchell was also confirmed. The company is set to commission its new manufacturing facility in Mesa, Arizona on December 12, 2022, signaling a shift towards onshore manufacturing. Furthermore, an investor day is scheduled for February 15, 2023 to engage with stakeholders about the company's future.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) reported a remarkable increase in Q3 '22 revenue of $1.44 million, representing over a 12x growth from the same quarter last year. The company manufactured 103 SOLO vehicles in Q3, though deliveries were impacted by a 'Zero Covid' policy in China, resulting in 64 EMV deliveries. The Mesa facility build-out is on track to conclude by year-end, while operating discipline has improved gross margins by 55 points. The company boasts over $1.73 million in working capital with 32% revenue and 37% delivery growth from Q2.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) will showcase its electric vehicle, the SOLO, at four major events: the Fleet Forward Conference (Nov 9-11), the Los Angeles Auto Show (Nov 18-27), the Arizona International Auto Show (Nov 24-27), and the San Diego International Auto Show (Dec 30-Jan 2). Test drives of the three-wheeled SOLO, designed for urban commuting, will be available at these events in California and Arizona. The SOLO features a range of up to 100 miles and is priced at $18,500 for consumers and $24,500 for the delivery model.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) has announced an upcoming investor day scheduled for February 2023 at its new facility in Mesa, Arizona. The company designs and manufactures electric vehicles, with its flagship product being the SOLO, a single-seat, three-wheeled EV aimed at revolutionizing urban commuting. The SOLO offers a range of up to 100 miles and a top speed of 80 mph, priced at $18,500 for the consumer model. Further details regarding the investor event will be shared soon.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) unveiled its inaugural TV campaign showcasing two creative spots in California and Arizona. This launch aims to enhance brand visibility for its flagship product, the SOLO, an innovative single-seat electric vehicle designed for urban environments. Priced at $18,500 for the consumer model and $24,500 for the delivery model, the SOLO offers up to 100 miles range and a top speed of 80 mph. The company continues its commitment to revolutionizing urban mobility.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) will report its Q3 2022 financial results on November 14 after market close. Following this, the company will host a webcast to share performance information on their investor relations site. The company designs environmentally efficient electric vehicles, including the SOLO, a three-wheeled, single-seat model with a maximum range of 100 miles and a top speed of 80 mph. The SOLO is priced at $18,500 for consumers and $24,500 for the SOLO Cargo model.