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Electrameccanica Vehicles Corporation (SOLO)

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Last Post: 7/21/2021 5:05:49 PM - Followers: 103 - Board type: Free - Posts Today: 0

SOLO target price raised from $7.5 to $12.5

“ElectraMeccanica gets price target boost from Roth as SOLO EV shows commercial promise”
“Roth views the three-wheeled electric vehicle as a contender for fast food and other product deliveries”
“ElectraMeccanica Vehicles Corp (NASDAQ:SOLO) is positioned to develop a backlog of orders for its SOLO electric vehicle, according to analysts at Roth Capital Markets, which raised its price target for the company’s stock to $12.50 from $7.50 and reiterated its Buy rating in a note published Monday.”
“Hiring at ElectraMeccanica points to a maturing sales operation,” the firm wrote. “The recent hires of seasoned EV professionals include a director of sales, director of marketing and fleet sales manager, all coming from tier-1 OEMs, including Tesla and General Motors. We expect the strong EV experience of recently added executives to contribute to a growing order backlog, particularly through the six new retail locations.”


ElectraMeccanica Names Arizona and Tennessee as Two Finalist States for SOLO EV U.S. Assembly Facility and Engineering Technical Center

VANCOUVER, British Columbia, Oct. 06, 2020 (GLOBE NEWSWIRE) -- ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) ("ElectraMeccanica" or the "Company"), a designer and manufacturer of electric vehicles, is providing an update related to its ongoing search for the Company’s future U.S. based assembly facility and engineering technical center.

Since late February, the Company has been engaged with BDO USA’s Site Selection & Incentives Practice (“BDO”) in a nationwide review of potential locations that matched ElectraMeccanica’s criteria. BDO initially identified seven candidates and sent initial requests for proposal to the chief economic development entities in each state. In June, following comprehensive proposal reviews and site visits at select locations, the Company narrowed the candidate list to five. In August, the list was further narrowed to three states.

Today, ElectraMeccanica has announced the remaining two finalists as Arizona and Tennessee.

Within each finalist state, the Company has selected two finalist sites within the Phoenix, AZ metro area and the Nashville, TN region, respectively. Along with BDO, the Company is now conducting final site and proposal reviews before making a selection at the end of November 2020.

The proposed new U.S. facility is expected to create between 200 and 500 new jobs and feature a state-of-the art engineering technical center, including plans for multiple labs to support ongoing vehicle, chassis and power electronics testing as well as comprehensive research facilities. ElectraMeccanica also anticipates this new facility will generate additional, second order effects that would positively impact the local and state economy within its selected location through increased commercial activity and its business partnerships with tier one suppliers. To date, the Company has seen strong interest in the commercial fleet and utility sectors, supporting its plans for a future pilot SOLO ecosystem in the select region.

Collectively, the operation would be expected to meet the growing demand for SOLO EVs throughout the United States, where EVs are projected to exceed more than 30% of all passenger vehicles by 2040. In addition to the SOLO being classified as “Made in the USA,” the proposed new U.S.-based facility would allow ElectraMeccanica to reduce or potentially eliminate tariffs as well as benefit from logistical efficiencies.

ElectraMeccanica intends to maintain a capital-light model with its contract manufacturing partner and strategic investor, Zongshen Industrial Group (“Zongshen”), in Chongqing, China. In conjunction with the proposed new ElectraMeccanica U.S. facility, Zongshen will continue to manufacture SOLO EVs for the global market, while also supplying knock-down kits for assembly in the United States. The Company has begun commercial production with future deliveries of the SOLO EV expected this fall.

“We have been very impressed with the locations and proposals we’ve reviewed and are looking forward to reaching an agreement that would mutually benefit both ElectraMeccanica as well as our future state and local partners,” said Company CEO Paul Rivera. “When fully operational, our facility should contribute hundreds of jobs to the local economy as well as have a positive impact on the community at-large. We are excited to be a part of the catalyst for local and state initiatives to drive growth for the U.S. economy and the EV sector.

“For ElectraMeccanica, we remain focused on guaranteeing the key components that will position us for long-term sustainability, most notably mitigating supply chain and tariff risk, thereby enabling the SOLO to become an American-made product. We also want to select a partner that will work with us in establishing a major proof-of-concept for the SOLO ecosystem with urban solutions for personal, commercial, utility and fleet applications.”

Tom Stringer, Leader for the National Site Selection & Business Incentives Practice, BDO USA, added: “Despite the challenges of COVID-19 on the economy and the limits of domestic travel this year, ElectraMeccanica’s project remains on track to select a winner prior to year-end as originally planned. Our ability to remain on track really is a tribute to how well our state and local partners have fully embraced the regional economic impact that the SOLO electrified ecosystem represents. The potential new jobs, construction of engineering and assembly centers, deployment of a pilot testing program, and the migrating supply chain to support this project will collectively serve as a game changer for the winning region.”


ElectraMeccanica Reveals Awaited Utility and Fleet Version of Flagship SOLO EV

VANCOUVER, British Columbia, Sept. 16, 2020 (GLOBE NEWSWIRE) --

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the "Company"), a designer and manufacturer of electric vehicles, announced today that the Company is planning to produce an alternative “utility and fleet” version of its flagship SOLO EV, which is expected to become available in early 2021. These modified vehicles are being developed based on direct input from potential commercial and fleet partners and will be equipped with a stylish and functional cargo “cap,” offering additional capacity and versatility to suit a variety of different, single-occupant commercial and utility fleet applications.


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SOLO News: Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) 07/14/2021 06:02:28 AM
SOLO News: Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) 06/30/2021 04:18:44 PM
SOLO News: ElectraMeccanica Vehicles to raise $750M via mixed securities shelf offering 06/23/2021 06:19:44 AM
SOLO News: Securities Registration (foreign Private Issuer) (f-3) 06/22/2021 05:04:58 PM
SOLO News: Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) 06/15/2021 06:27:58 AM
#2093   Was a good move to pick those $3.30s mojo joyo 07/21/21 05:05:49 PM
#2092   Pick more yesterday some 3.39s to $3.43. mojo joyo 07/20/21 02:24:43 PM
#2091   I picked up some too. Without a doubt Monroe1 07/20/21 01:16:50 PM
#2090   Got some $3.50S To lower my avg price. mojo joyo 07/16/21 07:40:37 PM
#2089   summer time push back up pnnymn 07/15/21 05:08:36 PM
#2088   way oversold The_Free_Nebula 07/14/21 11:32:49 AM
#2087   OVERSOLD! duderaja 07/14/21 08:06:05 AM
#2086   $SOLO Total Debt (mrq) 2.01M SpotOnTrade 07/13/21 06:40:18 PM
#2085   That's one huge offering. A lot of downward Monroe1 07/13/21 11:31:19 AM
#2084   Great price. I used to flip this when duderaja 07/13/21 07:46:54 AM
#2083   Yes @ $3.79 is my position got some mojo joyo 07/12/21 03:47:52 PM
#2082   It dipped to 3.75 so I assume you're in duderaja 07/12/21 03:32:33 PM
#2081   My order is in.hope it fills up mojo joyo 07/12/21 09:04:04 AM
#2080   I be a buyer tomorrow. Hope I can mojo joyo 07/11/21 01:52:34 PM
#2079   Such a lively board! duderaja 07/10/21 11:15:43 AM
#2078   pssst- Let's keep this on the DL under wEaReLeGiOn 07/01/21 12:06:56 PM
#2077   No it's a USA company. dj4321 07/01/21 08:56:35 AM
#2076   So this company is Canadian. wEaReLeGiOn 06/30/21 03:37:08 PM
#2075   Biden’s $15B EV Program good for all US dj4321 06/30/21 11:35:00 AM
#2074   SOLO...$4.39...Bullish Engulfing Reversal Pattern to the Upside setting georgie18 06/24/21 06:29:47 AM
#2073   Hmm definitley not going to make it easy Ryguy008 06/23/21 08:36:24 AM
#2072   SOLO...$4.24...in the P/M...https://www.otcmarkets.com/filing/html?id=15046976&g georgie18 06/23/21 05:15:11 AM
#2071   Why the spoke end of day today? Anyone G-lupo 06/19/21 12:27:07 AM
#2070   Solo is the future. Many people can't understand Duffle Bag Boy 5000 06/16/21 12:24:11 AM
#2069   When Tesla first sold it's roadster it was Duffle Bag Boy 5000 06/08/21 08:34:40 PM
#2068   Interesting....Thanx for sharing.... The_Free_Nebula 06/04/21 10:34:03 PM
#2067   $SOLO https://pennystocks.com/featured/2021/06/01/best-penny-stocks-buy-june-3-g SpotOnTrade 06/04/21 07:31:28 PM
#2066   Seems so... The_Free_Nebula 06/04/21 10:40:51 AM
#2065   It has been a sneaky "one month", slow sky7777 06/04/21 10:25:20 AM
#2064   After doing research there is a new class Duffle Bag Boy 5000 06/04/21 09:44:43 AM
#2063   Are these 3-wheelers classified as cars or motorcycles? Duffle Bag Boy 5000 06/04/21 09:26:16 AM
#2062   * * $SOLO Video Chart 06-03-2021 * * ClayTrader 06/03/21 04:45:57 PM
#2061   SOLO on the move The_Free_Nebula 06/03/21 01:41:05 PM
#2060   SOLO...$4.02...:party: [2:42 PM] georgie18 06/01/21 02:43:46 PM
#2059   back over $4 bucks.. The_Free_Nebula 06/01/21 01:24:21 PM
#2058   Big losses. Dump like there is no tomorrow. tat4tat 05/27/21 04:13:57 PM
#2057   It is time Mick Dodge 05/26/21 10:03:12 PM
#2056   lets see those white candles begin stacking The_Free_Nebula 05/19/21 12:52:52 AM
#2050   interesting... The_Free_Nebula 05/12/21 10:11:17 AM
#2049   They broke ground in Mesa, AZ yesterday for Jimmy2326 05/12/21 09:19:57 AM
#2048   Completely agree! Didn't want to buy at the Ryguy008 05/06/21 08:20:15 PM
#2047   So many silly prop up posts... Gatta-git-it 05/06/21 03:59:19 PM
#2046   simply way too oversold for its potential... The_Free_Nebula 05/06/21 02:19:43 PM
#2045   Anyone else eyeing this consolidation easing up? Ryguy008 05/06/21 01:55:47 PM
#2044   Finally starting to move. This stock has always duderaja 04/23/21 08:05:33 PM
#2043   go SOLO 52wkhi 04/23/21 04:09:16 PM
#2042   Nice support here JPetroInc 04/21/21 12:50:51 PM
#2041   Good god, what a load of shit. wEaReLeGiOn 04/19/21 11:16:03 AM
#2040   Buying the dips as I can The_Free_Nebula 04/18/21 06:36:24 PM
#2039   Financial journalist with some questions here: Are redditor apes roguebard1 04/18/21 11:50:40 AM
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