Benzinga | Oct 29, 2020 08:33AM EDT

ElectraMeccanica Highlights Arrival Of First Production SOLO Electric Vehicles, Opening Of 6 New Retail Locations

ElectraMeccanica Vehicles Corp. (NASDAQ:SOLO) ("ElectraMeccanica" or the "Company"), a designer and manufacturer of electric vehicles, today announced that it will open six (6) new retail locations across the western U.S. within the next month. The Company also announced that the initial shipment of its production vehicles for its flagship SOLO EV have arrived in North America. In-line with the Company's ongoing vehicle rollout strategy, these SOLO EVs have been designated for corporate use in marketing, advertising and retail activities.

Production SOLO EV at the Company's 'ride-and-drive' press event in SantaMonica, CA. Production SOLO EV at the Company's 'ride-and-drive' press event in Santa Monica, CA.



ElectraMeccanica officially began production of the SOLO EV in late August alongside its manufacturing partner and strategic investor, Zongshen Industrial Group ("Zongshen").

The first two of the newly arrived SOLOs were introduced at a 'ride-and-drive' press event in Los Angeles on October 13 and 14, 2020. At this exclusive event, reporters from major media outlets were able to test the first production vehicles and "Drive SOLO" alongside CEO Paul Rivera in Santa Monica.

ElectraMeccanica also used vehicles from the first batch to test the international shipping logistics and port processing. Vehicles are currently being used for similar corporate and marketing purposes as well as ongoing road verification and testing.

The Company also announced that it is expanding its retail footprint by opening six (6) new locations in prominent shopping centers in addition to the four (4) locations currently up and running. These new locations will be strategically positioned in high-visibility areas alongside notable name-brand anchor stores and are set to open by Thanksgiving in the following cities:

* San Diego, CA -- Westfield UTC

* Brea, CA -- Brea Mall

* Scottsdale, AZ -- Kierland Commons (seasonal)

* Glendale, AZ -- Arrowhead Towne Center

* Santa Clara, CA -- Westfield Valley Fair Mall

* Walnut Creek, CA -- Broadway Plaza

"I am pleased to share that the first production SOLO EVs have officially made it onto U.S. soil," said ElectraMeccanica CEO Paul Rivera. "Consistent with our roll out strategy, the first wave off the line will be used specifically for high ROI activities, including marketing, retail distribution, customer test drives and fleet demonstrations. We are continuing with our planned, methodical ramp up in production to ensure quality and consistency. While we have encountered certain hurdles through this growth process, our team is hard at work making select supply chain and technical improvements. We have extended our customer delivery schedule into early 2021. Safety, customer care and the 'Drive SOLO' experience are paramount. With the help of our experienced partner, we are confident we can continue to move quickly and meet our increasing customer demand."

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/.