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Category: ElectraMeccanica (SOLO) and Electric Vehicles (EV)
Date: 25 August 2020 Stock price of ElectraMeccanica: $2.83 We take a look at the press announcement released by ElectraMeccanica (SOLO) in which they officially announced the production start date of the their first electric vehicle called the SOLO EV.
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The SOLO is a purpose-built, all-electric, three-wheeled vehicle for the modern urban environment. Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer. The SOLO has a range of over 100 miles and a top speed of 80 mph, making it safe for any road or highway"
More About ElectraMeccanica (SOLO)
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of electric vehicles. The company’s flagship vehicle is the innovative purpose built, single-seat electric vehicle called the SOLO. This vehicle will revolutionize 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 60 years.
ElectraMeccanica (SOLO) press release announcing production start date for the SOLO
VANCOUVER, British Columbia, Aug. 24, 2020 (GLOBE NEWSWIRE) -- ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) ("ElectraMeccanica" or the "Company"), a designer and manufacturer of electric vehicles, today announced an official start date of August 26th for the commencement of production for its flagship SOLO EV.
The SOLO is a purpose-built, all-electric, three-wheeled vehicle for the modern urban environment. Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer. The SOLO has a range of over 100 miles and a top speed of 80 mph, making it safe for any road or highway. The vehicle features front and rear crumple zones, triple-side impact protection, roll bar, torque-limiting control and many premium comfort features, such as power steering, power brakes, air conditioning and a Bluetooth entertainment system. The SOLO blends a cool, modern look with state-of-the-art technology at an attainable price point.
ElectraMeccanica will be working in close partnership with its contract manufacturing partner and strategic investor, Zongshen Industrial Group (“Zongshen”), in Chongqing, China on the initial production vehicles. The Company has targeted late November/early December for initial deliveries to select members on its pre-order list before ramping production to meet growing demand.
Distribution will begin in three locations where the Company has an existing retail footprint: Southern California, Scottsdale, AZ and Portland, OR. Additional deliveries will be made to key markets along the West Coast as the Company continues to expand.
Owing to strong consumer demand, ElectraMeccanica has already accumulated a substantial waiting list and encourages potential customers to place their pre-orders as soon as possible to secure their position in line. The SOLO is currently available for pre-orders on the Company website here.
“August 26 will be a momentous occasion for our business, and I could not be prouder of all the efforts from our collective team to make our SOLO dream a reality,” said ElectraMeccanica CEO Paul Rivera. “We will be working continuously with our manufacturing partners throughout the next several months to ship fully-assembled vehicles and put them into the hands of our early adopters. Going forward, we are making every effort to ensure that the driver experience and customer care are fully supported. We are thoughtfully considering every detail to ensure that the ‘Drive SOLO’ experience is truly exceptional.”
The SOLO is a purpose-built, all-electric, three-wheeled vehicle for the modern urban environment. Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer. The SOLO has a range of over 100 miles and a top speed of 80 mph, making it safe for any road or highway. The vehicle features front and rear crumple zones, triple-side impact protection, roll bar, torque-limiting control and many premium comfort features, such as power steering, power brakes, air conditioning and a Bluetooth entertainment system. The SOLO blends a cool, modern look with state-of-the-art technology at an attainable price point.
ElectraMeccanica will be working in close partnership with its contract manufacturing partner and strategic investor, Zongshen Industrial Group (“Zongshen”), in Chongqing, China on the initial production vehicles. The Company has targeted late November/early December for initial deliveries to select members on its pre-order list before ramping production to meet growing demand.
Distribution will begin in three locations where the Company has an existing retail footprint: Southern California, Scottsdale, AZ and Portland, OR. Additional deliveries will be made to key markets along the West Coast as the Company continues to expand.
Owing to strong consumer demand, ElectraMeccanica has already accumulated a substantial waiting list and encourages potential customers to place their pre-orders as soon as possible to secure their position in line. The SOLO is currently available for pre-orders on the Company website here.
“August 26 will be a momentous occasion for our business, and I could not be prouder of all the efforts from our collective team to make our SOLO dream a reality,” said ElectraMeccanica CEO Paul Rivera. “We will be working continuously with our manufacturing partners throughout the next several months to ship fully-assembled vehicles and put them into the hands of our early adopters. Going forward, we are making every effort to ensure that the driver experience and customer care are fully supported. We are thoughtfully considering every detail to ensure that the ‘Drive SOLO’ experience is truly exceptional.”
ElectraMeccanica (SOLO) stock price history since their listing
The image below shows the stock price history of ElectraMeccanica (SOLO) since their listing. Since their listing the stock of SOLO has increased by 17.9%. One wonders if the news of the firm officially starting production of their 3 wheeled electric vehicle (EV) will see additional interest in the firm's stock.
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