Home > Boards > US Listed > Automotive and Transportation > Electrameccanica Vehicles Corporation (SOLO)

Looks like a lot of people woke up

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
dcvancity Member Profile
 
Followed By 0
Posts 91
Boards Moderated 0
Alias Born 11/07/18
160x600 placeholder
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 3/30/2020 6:08:12 AM
Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) Edgar (US Regulatory) - 3/30/2020 6:03:26 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 3/26/2020 5:28:50 PM
Amended Annual and Transition Report (foreign Private Issuer) (20-f/a) Edgar (US Regulatory) - 3/26/2020 6:02:21 AM
Annual and Transition Report (foreign Private Issuer) (20-f) Edgar (US Regulatory) - 3/25/2020 4:08:59 PM
ElectraMeccanica Reports Fourth Quarter and Full Year 2019 Financial Results GlobeNewswire Inc. - 3/25/2020 4:05:10 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 3/2/2020 2:19:41 PM
ElectraMeccanica to Attend the 32nd Annual ROTH Conference in Orange County, California on March 17, 2020 GlobeNewswire Inc. - 3/2/2020 8:31:10 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 2/28/2020 1:32:49 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 2/28/2020 6:21:05 AM
ElectraMeccanica Engages BDO to Lead Search for U.S. Assembly Facility and Engineering Technical Center GlobeNewswire Inc. - 2/27/2020 8:31:10 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 2/24/2020 3:56:03 PM
ElectraMeccanica Provides Corporate Update GlobeNewswire Inc. - 2/24/2020 8:31:10 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 1/28/2020 1:25:55 PM
ElectraMeccanica to Attend Stifel Transportation and Logistics Conference on February 11-12, 2020 in Miami Beach, Florida GlobeNewswire Inc. - 1/27/2020 8:31:10 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 1/21/2020 3:38:43 PM
ElectraMeccanica Unveils the Features of its Production Intent Generation 3 SOLO EV GlobeNewswire Inc. - 1/21/2020 8:31:10 AM
ElectraMeccanica Issues Shareholder Letter and Provides Operational Update on Key Milestone Achievements GlobeNewswire Inc. - 1/14/2020 8:31:10 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 12/10/2019 3:41:12 PM
ElectraMeccanica Appoints Chief Financial Officer Bal Bhullar to Board of Directors GlobeNewswire Inc. - 12/9/2019 8:31:10 AM
Notice of Effectiveness (effect) Edgar (US Regulatory) - 12/3/2019 6:00:53 AM
Prospectus Filed Pursuant to Rule 424(b)(4) (424b4) Edgar (US Regulatory) - 12/2/2019 4:03:52 PM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 11/27/2019 6:02:59 AM
ElectraMeccanica Announces Release of Podcast Interview with The Wall Street Resource GlobeNewswire Inc. - 11/26/2019 8:31:10 AM
Report of Foreign Issuer (6-k) Edgar (US Regulatory) - 11/25/2019 3:49:51 PM
dcvancity   Wednesday, 05/08/19 02:14:40 PM
Re: None
Post # of 879 
Looks like a lot of people woke up this morning and decided enough was enough.

The biggest red flag is that even Jerry is no longer claiming a number as to how many cars they will produce by years end.

Now only saying,

"we continued to prepare for the mass production ramp that we expect to take place in the second half of 2019,” said Jerry Kroll, CEO of Electra Meccanica. “We continued early-stage production at our state-of-the-art production facility in Chongqing, China with our strategic partner, while laying the groundwork to allow for automated mass production later this year."

Does this mean they are now backing off manufacturing 5,000 by years end? I always thought this was a crazy committment given their inexperience with mass production. Have they come to their senses? If so, what is the new committment?

There was also no material increase in orders.
They have had over 64,000 orders on the books for more than a year now. And more than 2/3 of them are for Tofinos.
As per the recent Annual Report MD&A, they are not even expected to have the first prototype of the Tofino for another year. So based on the Solo timeline, they are 3 or more years away from mass production.

Given their increased burn rate, the 25% tariff on Chinese cars, and the issues with Solo production, they may well be broke well before then.

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist