ElectraMeccanica Announces New Cost-Effective Aluminum Chassis for Flagship, Single-Occupant SOLO EV
April 07 2020 - 8:31AM
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) ("ElectraMeccanica"
or the "Company"), a designer and manufacturer of electric
vehicles, has announced the engineering and development of a new,
cost-effective aluminum chassis for the Company’s flagship,
single-occupant
SOLO electric vehicle (EV).
The new, high strength, drop-in aluminum chassis
will replace the current composite chassis in the
SOLO EV, making it much better suited for mass
production by reducing the overall weight and per-unit assembly
cost of the vehicle. ElectraMeccanica has engaged a Tier-One
engineering partner with a global presence, which will provide
on-the-ground support in both Canada and China.
“This project represents our continued focus on
evolving the safety, comfort and design of our flagship
single-occupant SOLO EV, while incorporating
important cost saving advantages to improve margins in
mass-production,” said Paul Rivera, Chief Executive Officer of
ElectraMeccanica. “The partner we’ve selected for this project
brings significant expertise in lightweight, high-strength
automotive safety structures that are perfectly suited for the
SOLO. We look forward to the impending launch of
the revolutionary SOLO EV later this year.”
With an MSRP of $18,500, the
SOLO EV is a trend-setting all-electric,
single-seat vehicle expected to revolutionize the commuting,
delivery and shared mobility experience. To be one of the first to
own a SOLO, please reserve yours online by
visiting www.electrameccanica.com.
About ElectraMeccanica Vehicles
Corp. ElectraMeccanica Vehicles Corp.
(NASDAQ: SOLO) is a Canadian designer and manufacturer of
environmentally efficient electric vehicles. The company’s flagship
vehicle is the innovative purpose built; single-seat electric
vehicle 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 61 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.
Company Contact:Ms. Bal Bhullar, CPA, CGA, CRM
Chief Financial Officer & Director(604)
428-7656Bal@electrameccanica.com
Investor Relations:Greg FalesnikManaging
DirectorMZ Group - MZ North America(949)
385-6449SOLO@mzgroup.us www.mzgroup.us
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