Electrameccanica Vehicles (NASDAQ:SOLO)
Historical Stock Chart
6 Months : From Mar 2019 to Sep 2019
Electra Meccanica Vehicles Corp. (NASDAQ: SOLO) (“Electra Meccanica” or the “Company”), a designer and manufacturer of electric vehicles, has signed a multi-year promotional program with Denver, CO-based Apollo Brands LLC™ (Apollo), makers of Apollo Energy Gum™ and other specialty brands.
The promotional program will involve the use of Electra Meccanica’s SOLO single-passenger EVs to be used for the distribution of Apollo’s products to their retail partners throughout Denver, Boulder and much of the Front Range region. The emissions-free electric vehicles are perfectly aligned with Apollo’s commitment to sustainability and the environment and showcases Electra Meccanica’s increasing adoption for small-profile delivery purposes in a wide range of industries.
The program involves Apollo purchasing several SOLOs over the next 12 months, three of which are already in use for deliveries in the Denver area. Each SOLO will be wrapped in Apollo logo (as pictured) and used to market Apollo to various retailers and distribution hubs. The capability of the SOLO to carry up to 1500 packs—or five master boxes of Apollo Energy Gum within the car’s range of 100 miles—makes the SOLO a perfect vehicle to reduce costs while paying respect to the environment. As Leona Green, owner of Greens Beans in Vancouver, B.C. and the very first SOLO states, “Using the SOLO as a delivery vehicle for my catering business has cut my cost of operation for delivery to USD$15.00 per month, not to mention I love driving my SOLO.”
“We’re very pleased to make this announcement along with such an exciting and energetic company as Apollo while collaborating to bring a sustainable model for the delivery of their products,” stated Electra Meccanica’s Director of U.S. Operations, Anthony Luzi. “This pioneering partnership joins two companies in a way that demonstrates to both customer bases that we’re breaking with tradition. Apollo brings an exciting and unique quality to the energy gum landscape, and our unique single-passenger SOLOs make the perfect low-cost option for their small-profile distribution needs. The SOLOs are already attracting attention from Colorado residents as demonstrated by calls to both companies’ headquarters, making it a win-win for both companies. Like other programs we’ve initiated with nationally recognized brands and a handful of independent customers, we’ll continue to provide a reliable, sustainable and affordable solution for delivery businesses of all sizes.”
“At Apollo Brands™ we are creating the next energy category and SOLO is a perfect way to deliver our brands in an environmentally correct way with a reduced carbon footprint compared to traditional distribution vehicles.” stated Apollo Founder and CEO, Troy Widgery. “Our customers are making a choice to evangelize a better-for-you energy source, and we believe the decision to promote and distribute with a fleet of Apollo SOLOs will resonate with our audience.”
About Apollo Brands LLC Apollo was born out of Founder Troy Widgery's prior success with GO FAST!™ Energy Drink. Troy's background in extreme sports guided the passion to build GO FAST!™ into a brand with global reach, but he strived to build a healthier, more efficient energy product. Apollo and its specialty brands are manufactured in Colorado and represent the culmination of nearly 700 formulations over several years. Troy's belief is that a Liquid Core™ of functional ingredients surrounded by a xylitol gum shell is the best way to provide a clean and portable energy supplement for those in the pursuit of a healthy and productive lifestyle. Apollo strives to make choices with a focus on sustainability, from ingredients to distribution and everything in between. For more information visit www.apolloenergygum.com.
About Electra Meccanica Vehicles Corp. Electra Meccanica is a designer and manufacturer of electric vehicles. The Company builds the innovative, all-electric SOLO, a single passenger vehicle developed to revolutionize the way people commute, as well as the Tofino, an elegant high-performance two seater electric roadster sports car. Both vehicles are tuned for the ultimate driving experience while making your commute more efficient, cost-effective and environmentally friendly. Intermeccanica, a subsidiary of Electra Meccanica, has successfully been building high-end specialty cars for 60 years. For more information, visit www.electrameccanica.com.
Forward Looking Statements Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Media Contact:Sean Mahoney (310) 867-0670sean@ElectraMeccanica.com
Investor Relations:Greg FalesnikManaging DirectorMZ Group - MZ North America(949) email@example.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/096861bf-0a2b-4b62-9d1d-189129b277e9