ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO)
("ElectraMeccanica" or the "Company"), a designer and manufacturer
of electric vehicles, today announced its latest
SOLO EV retail location in suburban Portland,
Oregon’s renowned Washington Square Mall.
The upcoming September 1st opening will mark the
Company’s second retail outpost at a Macerich-owned property
following its successful debut at Scottsdale, Arizona’s Fashion
Square in June. In the first few weeks of operation, the
SOLO has generated strong visibility from both
word-of-mouth and considerable foot traffic.
Washington Square Mall is located between the
Tigard and Beaverton, Oregon areas approximately 18 miles from
downtown Portland. The 1.5 million square foot complex boasts
favorable shopper demographics and has maintained strong visitor
traffic since reopening after the temporary shutdown caused by the
COVID-19 pandemic. Strategically positioned indoors in a
high-visibility area alongside notable, name-brand anchor stores,
the new SOLO EV retail location should attract a
significant portion of the estimated 13 million shoppers that visit
the mall annually.
“Our upcoming campaign in Portland directly
aligns with our ongoing plan to open new, direct-to-consumer retail
locations at higher-end shopping centers in EV-friendly cities,”
said Paul Rivera, Chief Executive Officer of ElectraMeccanica. “We
appreciate the opportunity to deepen our relationship with Macerich
after our stellar reception at Scottsdale’s Fashion Square and will
look to continue our partnership as we bring the
SOLO EV to more high-demand markets. As states
continue reopening in the wake of the pandemic, we are pushing
forward into key west coast markets like Portland, where we’ll be
looking to benefit from the large eco-friendly population and
favorable rebate program to continue driving strong interest and
adoption of our SOLO EV. At the same time, in
today’s uncertain climate, we remain dedicated to providing
personal independence in a safe, secure and self-contained driving
environment.”
The state of Oregon has historically been a
progressive champion for climate change mitigation. As part of the
Oregon Clean Vehicle Rebate Program (“CVRP”), state residents can
receive up to $2,500 per vehicle in rebates for the purchase of a
SOLO EV. The CVRP is part of the Go Electric
Oregon initiative, which aims to have at least 50,000 registered
electric vehicles on Oregon roads by the end of 2020. Interested
readers can view the list of eligible vehicles by clicking
here.
ElectraMeccanica also currently maintains a
SOLO EV storefront at Westfield Century City in
Los Angeles with another location under contract at Westfield
Fashion Square, a premier shopping center in Sherman Oaks, CA. As
the state begins to reopen, the Company will pursue its planned
rollout throughout the Southern and Northern regions in accordance
with proper health and safety regulations. Going forward, the
Company will continue to pursue a retail awareness strategy focused
on dynamically entering select, new markets where interest and
consumer demand is greatest.
The SOLO is a purpose-built three-wheeled
solution 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 100 miles and a top speed of 80 mph, making it safe for
highways. The vehicle features front and rear crumple zones, 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 attractive price point. 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 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 ContactMs. Bal Bhullar,
CPA, CGA, CRMChief Financial Officer & Director(604)
428-7656Bal@electrameccanica.com
Investor Relations
ContactGateway Investor RelationsMatt Glover and Tom
Colton(949) 574-3860SOLO@gatewayir.com
Public Relations Contact Michelle Ravelo-Santos
R&CPMK (310) 297-0190 michelle.ravelo@rogersandcowanpmk.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9bb52b27-1061-4917-9504-c338b03f1854
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