Electrameccanica Vehs Corp Stock Price, News & Analysis

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) announced the commencement of customer deliveries of its flagship electric vehicle, the SOLO, starting with a special launch event on October 4, 2021, in Los Angeles. This marks a significant milestone in the company's manufacturing journey, begun a year prior with Zongshen Industrial Group. The SOLO is designed for urban commuting and boasts a 100-mile range and a top speed of 80 mph, priced at $18,500. The company is also expanding its presence in several western states, enhancing its logistics and service systems for a superior customer experience.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) will present at the 10th Annual Gateway Conference, scheduled for September 8-9, 2021. Management will speak on September 8 at 11:30 a.m. Pacific time, with one-on-one meetings available throughout the event. The presentation will be webcast live, and a replay will be accessible afterward. For inquiries or to schedule meetings, interested parties can contact conference@gatewayir.com. The Gateway Conference connects growth companies with investors and has been a platform for nearly 800 companies over the past nine years.

ElectraMeccanica (NASDAQ: SOLO) has launched the SOLO Cargo EV, an all-electric vehicle specifically engineered for commercial and fleet operations. Debuted at the Advanced Clean Transportation Expo from August 31 to September 1, 2021, the SOLO Cargo EV features an expanded cargo box and approximately 8 cubic feet of cargo space. The vehicle is designed for urban environments, promising cost savings and efficiency in small deliveries. It boasts a range of 100 miles, a top speed of 80 mph, and several customizable options for various business applications.

ElectraMeccanica (NASDAQ: SOLO) will showcase its electric vehicle, the SOLO, at the Advanced Clean Transportation (ACT) Expo from August 31 to September 1, 2021. The company aims to highlight the SOLO's potential for both personal and commercial use, addressing urban transportation challenges. With a range of 100 miles and a price of $18,500, the SOLO is designed for single-occupant travel, featuring advanced safety measures. Additionally, test drives will be available during the event.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) has appointed Dave Shemmans as an independent director on its Board, effective August 23, 2021. Shemmans, former CEO of Ricardo PLC, brings extensive experience in electrification and global market innovation. His leadership is expected to enhance ElectraMeccanica's growth strategy in the electric vehicle market. Concurrently, Peter Savagian has resigned from the Board. The board now has eight directors, four independent. ElectraMeccanica aims to capitalize on the growing demand for sustainable electric vehicles.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) held its annual general meeting (AGM) on August 16, 2021, where shareholders re-elected directors and re-appointed KPMG LLP as auditors. The board confirmed executive appointments, including Paul Rivera as CEO and Bal Bhullar as CFO. The company aims to enhance shareholder engagement and corporate governance. ElectraMeccanica focuses on innovative electric vehicles, particularly the SOLO, a single-seat EV designed for urban driving.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) reported its second-quarter financial results for the period ending June 30, 2021. The company holds $250 million in cash and short-term deposits, despite a net cash decrease of $10.3 million due to operational and investing activities. General and administrative expenses rose to $6.1 million from $1.5 million last year, while research and development expenses increased to $4.4 million. The second quarter saw an operating loss of $15.3 million, up from $4.4 million in Q2 2020. The company continues to expand operations, including a new facility in Mesa, AZ, expected to create 500 jobs.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) announced the visit of U.S. Secretary of Energy Jennifer Granholm to its manufacturing facilities in Michigan on August 5, 2021. The visit coincided with the Biden administration's push for a $1 trillion bipartisan infrastructure bill, which includes $7.5 billion for electric vehicle infrastructure. Granholm viewed ElectraMeccanica’s SOLO EV, a three-wheeled electric vehicle designed for urban environments, offering 100 miles of range and priced at $18,500. The SOLO is currently available for pre-orders.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) reported its Q1 2021 financial results, revealing a significant increase in cash reserves, up to $260.4 million from $129.5 million in Q4 2020, aided by financing activities. The company's operating loss widened to $8.9 million from $5.1 million year-over-year, attributed to rising general and administrative, research and development, and marketing expenses. Key developments include breaking ground on a new U.S. assembly facility expected to create 500 jobs and expanding its retail presence significantly.