ElectraMeccanica CEO, Paul Rivera, Provides Corporate Video Update with Proactive Investors
October 15 2019 - 8:31AM
ElectraMeccanica Vehicles Corporation (NASDAQ: SOLO)
(“ElectraMeccanica” or the “Company”), a designer and manufacturer
of electric vehicles, has provided a corporate update through a
video interview with company CEO, Paul Rivera, which was conducted
last week and released yesterday by Proactive Investors.
Management Commentary“We’ve continued our
steadfast operational execution to bring the SOLO
EV to market, a purpose built, trend-setting, single-seat EV that
we believe will revolutionize commuting, delivery and shared
mobility,” said Paul Rivera, Chief Executive Officer of
ElectraMeccanica. “Our company maintains a healthy financial
position as evidenced by our $21.3 million in cash and cash
equivalents in the second quarter as we continue to work closely
with our strategic manufacturing partner and early investor,
Zongshen Industrial Group, to bring the SOLO to
market.”
“Today, beyond the initial prototypes and Gen-1
SOLOs built in Canada, we’ve now produced the
first pilot-production vehicles from our assembly operation in
China. These have been undergoing extensive on-road validation
testing throughout the US, Canada, and China. We’re continuing to
fine-tune various systems to ensure that we deliver our flagship
vehicle to the market with the highest standards of safety,
reliability and comfort. I’ve frequently said that the last 5% of
this final stage of delivering a production vehicle is often the
hardest; however, our entire team is moving rapidly to accomplish
this goal. We will begin delivering our production
SOLO’s to early adopter customers in early 2020,
strategically launching in the Los Angeles area first, followed by
broader expansion into other West Coast markets.”
Rivera, concluded: “We stand at an inflection point as a
company, moving from a great idea into commercial production. To
support these initiatives, we’ve taken many strategic steps to
enhance relationships with partners, bolster our team and ensure
the vehicles we are delivering meet our high standards, which
ultimately, will help support a much larger, more mature
organization. We’re also working to ensure a seamless and
convenient customer experience. I look forward to providing future
investor updates as we launch this category-defining vehicle and
create sustainable, long-term value for our shareholders.”
Proactive Investors Video InterviewIn the
just-released interview Rivera discusses how the company’s flagship
EV, the SOLO, is redefining the commuter
experience, while providing a thorough update on his vision and
upcoming launch of the SOLO. To view. Please click
here, or visit: https://investors.electrameccanica.com/media.
About ElectraMeccanica Vehicles
Corp.ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a
designer and manufacturer of electric vehicles. The Company builds
the innovative, all-electric SOLO, a single
commuter vehicle developed to revolutionize the way people commute,
and is developing the Tofino, an elegant high-performance
two-seater electric roadster sports car. Both vehicles are tuned
for an incredible driving experience while making your commute more
efficient, cost-effective and environmentally friendly.
InterMeccanica, a subsidiary of ElectraMeccanica, has successfully
been building high-end specialty cars for 60 years. For more
information, visit www.electrameccanica.com.
Forward Looking StatementsSome
of the statements contained in this press release are
forward-looking statements and information within the meaning of
applicable securities laws. Forward-looking statements and
information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential”, “suggests” or
variations of such words or phrases, or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company’s
control. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
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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