Volcon Inc. (NASDAQ: VLCN) (“Volcon''), the first all-electric,
off-road powersports company, and ElectraMeccanica Vehicles Corp.
(NASDAQ: SOLO) (“ElectraMeccanica”), a designer and manufacturer of
electric vehicles revolutionizing the urban driving experience,
today jointly announced that ElectraMeccanica has been selected for
the final assembly of Volcon’s electric UTV, the Stag. This
contract expands the previously announced assembly work
ElectraMeccanica will do for the Grunt EVO and Runt LT electric
motorcycles.
“We continue to make progress in scaling our vertically
integrated supply chain in partnership with GLV Mexico, with
frames, panels, suspension components, paint and cure lines ramping
as we speak,” commented Jordan Davis, Volcon Chief Executive
Officer. “By adding stateside assembly to our vertically integrated
supply chain, we accomplish both our promise to keep manufacturing
in North America while focusing on profitability and supply chain
resilience.”
The partnership provides ElectraMeccanica with additional EV
manufacturing brands to assemble in their state-of-the-art Mesa,
Arizona facility; while assisting Volcon with their reshoring
efforts for the Americas.
Susan E. Docherty, ElectraMeccanica CEO, stated: “The EV market
continues to expand and we’re excited that our Mesa facility is
playing an immediate part in that growth. We’re also extremely
pleased to build on our existing relationship with Volcon and GLV
by leveraging our teams’ expertise to bring new types of electric
vehicles to eager customers, while we also work to develop our own
next generation EV.”
With more than half of Volcon's product line being assembled in
the United States, the Company hopes to show its dedication to make
best-in-class products, without handing off significant costs to
the consumer. Davis continued, “Complex global supply chains, as we
know them, existed long before Volcon was established. However,
instead of subscribing to the trickle down of common transnational
commerce practices, we feel we have an opportunity to show what a
‘trickle up’ model could look like by collaborating with businesses
in our own backyard for components that are often sourced overseas.
While not perfected, we feel with opportunities like this, we get
closer to creating a version where maximum profits are not at the
expense of American jobs and maintaining a circular flow of dollars
in our own communities.”
About Volcon, Inc
Based in the Austin, Texas area, Volcon was founded as the first
all-electric powersports company producing high-quality and
sustainable electric vehicles for the outdoor community. Volcon
electric vehicles are the future of off-roading, not only because
of their environmental benefits, but also because of their
near-silent operation, which allows for a more immersive outdoor
experience.
Volcon's 2023 vehicle roadmap includes both motorcycles and UTVs
hitting the market in North America. Its first product, the
innovative Grunt, has been shipping to customers since late 2021
and combines a fat-tired physique with high-torque electric power
and a near-silent drive train. Volcon just announced the launch of
the Grunt EVO, an evolution of the original Grunt with a belt
drive, an improved suspension and seat. Volcon also just announced
the launch of the Runt LT, which is a fun-sized version of the
groundbreaking Grunt, is better suited for small statured riders,
more compact properties and trails, or as a pit bike at race
events, while still delivering robust off-road capabilities. The
Brat is Volcon’s first foray into the wildly popular eBike market
for both on road and off-road riding and is currently being
delivered to dealers across North America. Volcon is also launching
and currently delivering the Volcon youth line of dirt bikes for
younger riders between the ages of 4 to 11. Volcon recently
launched the Stag and entered the rapidly expanding UTV market. The
Stag empowers the driver to explore the outdoors in a new and
unique way that gas-powered UTVs cannot. The Stag offers the same
thrilling performance of a standard UTV without the noise (or
pollution), allowing the driver to explore the outdoors with all
their senses.
Volcon Products:Volcon
Stag: https://www.volcon.com/stagVolcon
Brat: https://www.volcon.com/bratVolcon
Grunt: https://www.volcon.com/grunt-evoVolcon
Runt: https://www.volcon.com/runt-ltVolcon Youth
Line: https://www.volcon.com/youth
Volcon Contacts:
For Media: media@volcon.com For Dealers:
sales@volcon.com For Investors: investors@volcon.com
For more information on Volcon or to learn more about its
complete motorcycle and side-by-side line-up,
visit: www.volcon.com
About ElectraMeccanica Vehicles
Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a designer and
manufacturer of environmentally efficient electric vehicles (EVs)
that will revolutionize the urban driving experience, including
commuting, delivery and shared mobility. The Company recently
commissioned its state-of-the-art 235,000 square foot manufacturing
facility in Mesa, Arizona to produce and assemble electric vehicles
for both ElectraMeccanica and other manufacturers.
ElectraMeccanica
Contact: ir@emvauto.com
Forward-Looking Statement: Volcon
Some of the statements in this release are forward-looking
statements, which involve risks and uncertainties. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable as of the date made,
expectations may prove to have been materially different from the
results expressed or implied by such forward-looking statements.
The Company has attempted to identify forward-looking statements by
terminology including ''believes,'' ''estimates,'' ''anticipates,''
''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,''
''may,'' ''could,'' ''might,'' ''will,'' ''should,''
''approximately'' or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are only predictions and involve known and unknown
risks, uncertainties, and other factors. Any forward-looking
statements contained in this release speak only as of its date. The
Company undertakes no obligation to update any forward-looking
statements contained in this release to reflect events or
circumstances occurring after its date or to reflect the occurrence
of unanticipated events. More detailed information about the risks
and uncertainties affecting the Company is contained under the
heading “Risk Factors” in the Company’s Annual Report on Form 10-K
and subsequently filed Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K filed with the SEC, which are available on the
SEC’s website, www.sec.gov.
Safe Harbor Statement: ElectraMeccanica
This press release and related comments by management may
include “forward-looking statements” within the meaning of the U.S.
federal securities laws and applicable Canadian laws.
Forward-looking statements are any statements other than statements
of historical fact and represent our current judgement about
possible future events. In making these statements, we rely upon
assumptions and analysis based on our experience and perception of
historical trends, current conditions, and expected future
developments, as well as other factors we consider appropriate
under the circumstances. We believe these judgements are
reasonable, but these statements are not guarantees of any future
events or financial results, and our actual results may differ
materially due to a variety of important factors, many of which are
described in our most recent Annual Report on Form 20-F or Form
10-K and our other filings with the U.S. Securities and Exchange
Commission. We caution readers not to place undue reliance on
forward-looking statements. Forward-looking statements speak only
as of the date they are made, and we undertake no obligation to
update publicly or otherwise revise any forward-looking statements,
whether as a result of new information, future events, or other
factors that affect the subject of these statements, except where
we are expressly required to do so by law.
Electrameccanica Vehicles (NASDAQ:SOLO)
Historical Stock Chart
From Jul 2024 to Jul 2024
Electrameccanica Vehicles (NASDAQ:SOLO)
Historical Stock Chart
From Jul 2023 to Jul 2024