ElectraMeccanica Vehicles Corp. (NASDAQ:
SOLO) ("ElectraMeccanica" or the "Company"), a designer
and manufacturer of electric vehicles, commemorated the start of
construction for its new U.S. Assembly and Engineering Technical
Center with a groundbreaking ceremony held yesterday in Mesa, AZ.
In attendance were more than 50 invited guests,
Company Board Members and local dignitaries, including Arizona
Commerce Authority President Sandra Watson, who kicked the event
off with a keynote address. Ms. Watson was joined at the podium by
the President and CEO of the Greater Phoenix Economic Council Chris
Camacho, Mesa Mayor John Giles and ElectraMeccanica’s President and
CEO Paul Rivera.
The 235,000 square foot facility is located on
18 acres of land adjacent to the Phoenix-Mesa Gateway airport. It
will include an assembly and manufacturing plant, a research
center, 22,000 square feet of office space and 19,000 square feet
of lab space. To maintain ElectraMeccanica’s asset-light model, the
building will be leased from the Developer, Marwest Enterprises,
LLC. The building is being designed by the architectural firm Ware
Malcomb and engineered by Hunter Engineering with Willmeng
Construction acting as the General Contractor. When operational,
the facility will have a production capacity of up to 20,000
vehicles per year and employ upwards of 200-500 people. The current
completion date is slated for Spring 2022.
“Today is a momentous day for ElectraMeccanica
and the State of Arizona,” said Sandra Watson, President and CEO,
Arizona Commerce Authority. “Our electric vehicle industry is
booming - with three manufacturing groundbreakings in just the last
16 months and additional suppliers setting up shop. We’re grateful
to ElectraMeccanica for choosing Arizona as the home of their first
U.S. based facility and look forward to supporting them long into
the future.”
“Today’s groundbreaking marks a notable
achievement for ElectraMeccanica,” said Company President and CEO
Paul Rivera. “The new engineering technical center and assembly
facility will be a showcase for our vehicle lineup and afford us
with the physical and human capital we need to provide the U.S.
retail and fleet market with a 'made in the USA'
SOLO EV. We are thrilled to become an
integral part of the vibrant Mesa community, the greater Phoenix
Metropolitan area and Arizona as a whole. We are looking forward to
expanding our team and building a new culture with our future
employees and their families.”
“ElectraMeccanica breaking ground on its U.S.
base of operations solidifies Greater Phoenix as America's new EV
manufacturing hub,” said Chris Camacho, President & CEO of the
Greater Phoenix Economic Council. “There is no better place to
scale, innovate, manufacture and find skilled talent to meet the
demand of advanced industry. We look forward to watching
ElectraMeccanica’s continued success and working with Gov. Ducey,
the Arizona Commerce Authority, and City of Mesa to support the
company's expansion.”
“ElectraMeccanica made an excellent decision in
choosing to locate its first U.S.-based facility in the Mesa
Gateway area,” said Mesa Mayor, John Giles. “It’s an ideal location
with easy access to two major freeways the Gateway Airport and a
talented, growing workforce.”
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 $18,500.
The SOLO is currently available for
pre-orders
at https://electrameccanica.com/product/solo-reservation/.
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 62 years. For more information, please visit
www.electrameccanica.com.
Safe Harbor StatementExcept 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.
Investor Relations ContactGateway Investor
RelationsMatt Glover and Tom Colton(949)
574-3860SOLO@gatewayir.com
Public Relations ContactMichelle
RaveloR&CPMK for ElectraMeccanica(714)
403-9534michelle.ravelo@rogersandcowanpmk.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9d5a4541-24b9-42aa-b814-96f699d66011
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