ElectraMeccanica Appoints Electric Vehicle Pioneer and Former Director of Electrified Propulsion at GM, Peter Savagian, to Bo...
October 22 2019 - 8:31AM
ElectraMeccanica Vehicles Corporation (NASDAQ: SOLO)
(“ElectraMeccanica” or the “Company”), a designer and manufacturer
of electric vehicles, announced today that the Board of Directors
has appointed Peter Savagian as an Independent Director, effective
immediately.
Mr. Savagian is a pioneer in automotive
electrification, with a broad spectrum of expertise in the
technology, development, launch and production of electric
vehicles. In 1990 he began work on the General Motors EV1, the
first modern electric vehicle and was named Chief Engineer of
Electric Propulsion Systems in 1998. Later, as General Director of
Electrified Propulsion, he built and led multiple teams to
innovate, engineer and execute the full range of electrified
vehicle propulsion systems. His accomplishments at General Motors
include 13 electrified autos brought to production. Notably, these
include the first modern Electric Vehicle, the GM EV1, the first
plug-in hybrid, the Chevy Volt, and the industry’s first long-range
value EV, the Chevy Bolt.
“Peter’s tenure at GM, one of the world’s
largest producers of vehicles, in addition to his deep expertise in
electric vehicle development and production, makes him an
invaluable addition to our Board of Directors,” said Paul Rivera,
Chief Executive Officer of ElectraMeccanica. “We look forward to
his guidance in bringing our trend-setting SOLO EV
to market.”
Mr. Savagian is presently Senior VP of
Engineering at Ampaire, an electric aircraft startup company where
he directs innovation, design, development and certification of
electric propulsion systems and their integration into short-haul,
fixed-wing electric aircrafts. He holds 44 patents and has authored
17 technical publications in the field of electrification. Mr.
Savagian holds a BS in Mechanical Engineering from the University
of Wisconsin, an MS in Operations Research Engineering from the
University of Southern California and an MBA from Duke
University.
Peter Savagian, commented: “I am absolutely
elated to join the ElectraMeccanica board of directors. I have
dedicated my career to improve the environment via the
electrification of transportation, and this forward-looking company
is well aligned with this mandate. ElectraMeccanica is on the brink
of launching a new segment-defining product, the
SOLO, and much more will follow. I am convinced
that ElectraMeccanica has the opportunity to create new value by
connecting with various kinds of customers with its uniquely
affordable, practical, fun and fully electric vehicles. It is
fulfilling to be able to use my years of electrification experience
to help guide and provision the ElectraMeccanica team to execute in
this vital business.”
About ElectraMeccanica Vehicles
Corp.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. 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 mining 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 Contact:Greg
FalesnikManaging DirectorMZ Group - MZ North America(949)
385-6449greg.falesnik@mzgroup.uswww.mzgroup.us
Media Contact:Sean MahoneyC.
310-867-0670sean@electrameccanica.com
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