ElectraMeccanica Vehicles Corp. (NASDAQ:
SOLO) ("ElectraMeccanica" or the "Company"), a designer
and manufacturer of electric vehicles including its flagship
SOLO EV, is expanding its retail network to three
new West Coast locations. Slated to open in March, the new
direct-to-consumer retail locations will be located at The Village
at Corte Madera, CA, Los Cerritos Center in Orange County, CA and
La Encantada in Tucson, AZ, offering shoppers the ability to learn
more, explore the vehicle and place reservations onsite. These
additions bring ElectraMeccanica’s retail location count to a total
of 13 in 10 major markets.
“As we gear up for the first
SOLO EVs to hit the road, we will be accelerating
our successful, direct-to-consumer ‘Drive SOLO’
retail plan to further engage and inform potential customers,” said
ElectraMeccanica CEO Paul Rivera. “We are continuing to enter new
markets strategically where interest in and demand for electric
vehicles are greatest. Our new and existing retail locations will
provide a unique opportunity for potential customers to learn more
about driving SOLO.
“Our ‘SOLO Drive Tour' is
currently planned for five cities including Scottsdale, AZ,
Cerritos, Walnut Creek, and Corte Madera, CA as well as Portland,
OR, in February and March. We look forward to bringing our vehicles
to select early reservation holders in these exclusive,
invitation-only test drive experiences providing one of the first
opportunities to look, see and ‘Drive SOLO.’ We
are mindfully planning our demonstrations in accordance with all
local COVID-19 protocols to ensure a safe event for all who
attend.”
ElectraMeccanica is ramping up its current
“Drive SOLO” marketing campaign aimed at educating
consumers on a new way to drive efficiently. The campaign, which
involves an aggressive rollout in key eco-conscious cities where
the SOLO EV has an existing retail presence, will
feature almost 300 billboard and digital mall displays along with
social content across the company’s Facebook, LinkedIn, Twitter and
Instagram pages. The new creative design, conceptualized internally
by ElectraMeccanica with the media buy handled by Accretive Ads, is
being extended further into Q1 after demonstrably positive initial
results. The campaign illustrates everyday scenarios for driving
solo with playful but relevant tag-lines such as “Need HOV Access?
Meet Your Plus One” or “Need a Getaway? Meet your #TravelBFF.”
“The ‘Drive SOLO’ campaign
truly challenges consumers to rethink their daily driving habits,”
added Rivera. “Most vehicle trips are done solo, whether it's to
the grocery store, the gym or on a daily commute. A
single-occupancy vehicle like the SOLO makes sense
from a standpoint of energy efficiency and space-savings and is the
ideal solution for today’s urban transportation challenges. We’re
expecting even greater demand as we continue to grow awareness in
additional markets.”
ElectraMeccanica currently operates 10 retail
locations in the western U.S. region.
The SOLO is a purpose-built,
three-wheeled, all-electric solution for the urban environment.
Engineered for a single occupant, it offers a unique driving
experience for the environmentally conscious consumer. The
SOLO has a range of 100 miles and a top speed of
80 mph, making it safe for highways. The SOLO
features front and rear crumple zones, side impact protection, roll
bar, torque-limiting control, as well as power steering, power
brakes, air conditioning and a Bluetooth entertainment system. It
blends a modern look with safety features at an accessible price
point of $18,500. The SOLO is currently available
for pre-orders at
https://electrameccanica.com/product/solo-reservation/.
About ElectraMeccanica Vehicles
Corp.ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a
Canadian designer and manufacturer of environmentally efficient
electric vehicles (EVs). The company’s flagship vehicle is the
innovative, purpose-built, single-seat EV called the SOLO. This
three-wheeled vehicle will revolutionize the urban driving
experience, including 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 61 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.
Company ContactMs. Bal Bhullar, CPA, CGA,
CRMChief Financial Officer & Director(604)
428-7656Bal@electrameccanica.com
Public Relations ContactSean
MahoneyElectraMeccanica(310) 867-0670sean@ElectraMeccanica.com
Amy PandyaR&CPMK for ElectraMeccanica(310)
967-3418amy.pandya@rogersandcowanpmk.com
Investor Relations ContactGateway Investor
RelationsMatt Glover and Tom Colton(949)
574-3860SOLO@gatewayir.com
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