Electrameccanica Vehicles Corp (SOLO)

[Golden Cross]

Consumer Demand for Alternative, Energy Efficient Transportation Creating Electric Vehicle Revolution
8:45 AM ET 11/8/18 | Dow Jones
PALM BEACH, Florida, November 8, 2018 /PRNewswire/ --

Financialnewsmedia.com News Commentary

Consumers today are aggressively searching alternative choices for transportation to combat increasing fuel prices. According to the International Energy Agency (IEA), escalating fuel and oil prices are forcing many to seek alternatives in the electric vehicles (EV) industry such as Electric Scooters and other alternative energy options. If one lives in San Francisco, Baltimore, or Austin, many have already seen them popping up all over town. According to Grand View Research Inc. the global electric scooter market size is expected to reach $28.56 billion by 2025. Growing demand for fuel-efficient vehicles over shorter distances, rising carbon and greenhouse gas emissions, and government initiatives encouraging adoption of green vehicles are expected to drive the electric scooters market to higher levels. Active tech companies in the markets this week include Optec International, Inc. (OTC:OPTI), Alibaba Group Holding Limited (BABA), Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), Niu Technologies (NASDAQ:NIU), Electrameccanica Vehicles Corp. (NASDAQ:SOLO).

Optec International, Inc. (OTCQB:OPTI) BREAKING NEWS: Optec International today announced, the company signed an exclusive USA distribution agreement with Optimized Fuel Technologies for their new 2019 All Electric Zero Emissions Commercial Electric Super-Scooter Models.

OPTEC International, Inc., the exclusive worldwide distributor of the OPTEC Fuel Maximizer, will now include the OPTEC Super-Scooters to their exclusive USA distribution agreements.

The Super Scooter patented technology was recently acquired by Optimized Fuel Technologies and is currently in production at the company's Carlsbad, CA facility. The "Cadillac" of scooters has been purchased by southern California Law Enforcement and EMT divisions and rigorously tested and proven for over 4 years. The Super Scooter has a 40 Mile Range and 30 MPH capability on a single battery and facilitates 2 batteries on board giving double the range capability. The definitive agreement is expected to be completed by the end of November 2018.

This tremendous growth projection of the Electric Scooter Transportation sector has not gone unnoticed by one of the largest transportation network companies and holding companies. According to Bloomberg, Uber and Alphabet, Inc has invested $335 million into partnering with Lime, an electric scooter company. Lyft has also launched an electric scooter share program and has been one of five companies to apply for a permit in San Francisco to run an electric scooter service.

In Los Angeles, San Francisco and Sacramento the frequent and rapidly expanding use of the electric scooters is reported to have a noticeable impact on vehicle traffic congestion and at the same time helping reduce the global vehicular emissions reduction. Read this and more news for OPTI at :http://www.financialnewsmedia.com/news-opti/

Other recent developments in the electric vehicle industry include:

Giant tech stocks have focused efforts on the scooter trend of late. In March of this year, Alibaba (NYSE:BABA) led an $866 million funding round for Ofo, China's biggest bike-sharing platform. GV, the venture capital arm of Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), led a $335 million funding round for Lime in July. Lime's fleet includes e-scooters, e-bikes and pedal bikes, to offer people a greater variety of transportation modes at their fingertips and make it increasingly easy to live without a car.

The growing trend also helped launch the IPO of China-based electric-scooter maker Niu Technologies (NASDAQ:NIU). Niu Technologies designs, manufactures, and sells high-performance smart e-scooters. It is the largest lithium-ion battery-powered electric scooters company in China and a leader in the European market in 2017, according to CIC. The first lifestyle brand for urban mobility in China, NIU has successfully created a new industry category - smart electric two-wheeled vehicles. With a NIU app component that synchronizes with the smart e-scooters and communicates with their cloud system, Niu Technologies creates real-time information for its customers.

Electra Meccanica Vehicles Corp. (NASDAQ:SOLO), a designer and manufacturer of electric vehicles, late in October provided a corporate update on vehicle pre-orders the Company has received. As of October 22, 2018 Electra Meccanica had a total of 64,154 vehicle pre-orders across all models. As of October 22, 2018 the Company had 23,030 pre-orders for the SOLO single-passenger electric vehicle, which has a $15,500 target MSRP, and 41,124 pre-orders for the Tofino two-seat roadster sports car, which has a $50,000 target MSRP. All retail pre-orders require a refundable deposit, $250 for the SOLO and $1,000 for the Tofino. Dealer pre-orders require a letter of credit or letters of interest and all orders are non-binding.