ElectraMeccanica Establishes Wholly-Owned Chinese Subsidiary for In-Country Operations
October 17 2019 - 8:31AM
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica”
or the “Company”), a designer and manufacturer of electric
vehicles, has established EMV Automotive Technology, Inc.
(Chongqing), a wholly-owned subsidiary, in China. As part of this
strategic initiative, the first addition to EMV Automotive
Technology is Larry Liang, Ph.D., the Company’s new Managing
Director of China Production.
“The establishment of our own wholly-owned subsidiary in China
is another major milestone for our company and provides us with a
strong foothold in China. This strategic initiative provides us
with a greater presence throughout the massive Chinese market,
where we’re working closely with our partner manufacturer, Zongshen
Industrial Group, on the production of our flagship vehicle, the
SOLO EV,” stated ElectraMeccanica CEO, Paul
Rivera. “Having an experienced automotive engineer and operational
manager such as Dr. Liang provides us with additional capabilities
to innovate and improve our vehicles with veteran manufacturing
guidance from such a well-qualified automotive expert.”
Dr. Liang joins ElectraMeccanica as Managing Director of China
Production with more than a dozen years of experience, previously
holding positions as Deputy General Manager and Sr. Product Manager
at companies such as DGENX, SAIC-GM, Siemens Automotive Electronics
and PATAC (Pan Asian Technical Automotive Center).
Dr. Liang holds a Doctoral degree in Mechanical Manufacture and
Automation from the Chinese Academy of Sciences. He also holds a
bachelor’s degree in mechanical and engineering management from an
Overseas Study Program at Old Dominion (USA), and both Bachelor and
master’s degrees from Changchun University of Technology in
Mechanical and Electrical Engineering and Engineering of Materials
Processing, respectively. Larry brings extensive experience from
his work with OEM’s in operations, management planning and
implementation, prototyping of all levels of hybrid systems, motor
and electric propulsion control systems, human resources, operation
and management of R&D and general project development.
EMV Automotive Technology, Inc., will help the Company navigate
Chongqing’s favorable policies and geographical advantages, while
assisting ElectraMeccanica in increasing the efficiency and
effectiveness of quality control, automobile R&D and other
necessary activities.
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 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.
Investor Relations:Greg FalesnikManaging
DirectorMZ Group - MZ North America(949)
385-6449SOLO@mzgroup.uswww.mzgroup.us
Media Contact:Sean MahoneyC.
310-867-0670sean@electrameccanica.com
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