ElectraMeccanica corrects the announcement regarding the order of the SOLO Cargo fleet of 20 units
VANCOUVER, British Columbia, March 04, 2022 (GLOBE NEWSWIRE) — ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, would like to correct its earlier statement dated February 23, 2022, to clarify that the party that is in advanced discussions with the Company on a possible order for 20 SOLO Cargo electric vehicles is actually Pelican Food Concepts, which is a franchisee of Mountain Mike’s Pizza, not Mountain Mike’s Pizza, LLC, the franchisor and brand itself.
Additionally, although Pelican Food Concepts has agreed to be an initial market test, benchmark and validation account for ElectraMeccanica, provided the SOLO Cargo EV vehicles meet its pizza delivery specifications for cost and of performance during the first tests, an actual order of 20 vehicles has not yet been formally contracted between the parties. The parties estimate, however, that an order for 20 vehicles (or an order of comparable size) will be placed once final engineering and production of the vehicles has taken place, which is expected early in the third quarter of this year.
“We are really excited to become one of the first customers of ElectraMeccanica’s SOLO Cargo EV units. It makes a lot of sense for our business needs and the food delivery part of our restaurant model,” said Phillip Dade, a representative from Pelican Food Concepts. “We believe this unique electric vehicle aligns well with our sustainability goals as a franchise owner and, just as importantly, it could further improve our profitability.”
Given its appropriately sized capabilities, the SOLO Cargo creates an ideal price in the market for restaurants that handle their own deliveries in-house. The SOLO Cargo should offer a low total cost of ownership alternative, which incorporates an attractive vehicle acquisition price, as well as lower ongoing maintenance requirements and lower annual insurance premiums. Additionally, SOLO and SOLO Cargo are expected to support companies looking to reduce their carbon footprint by switching to an electric vehicle and downgrading their fleet of traditional oversized gas-powered vehicles.
Kevin Pavlov, CEO of ElectraMeccanica, added, “Pelican Food Concepts is a great example of the perfect use case for our innovative SOLO Cargo EV in fleet applications. The food delivery space is growing rapidly, and for restaurants that handle some or all of their deliveries in-house, cost and efficiency are primary concerns. The SOLO Cargo EV is expected to directly address the growing need for a scalable delivery solution while helping businesses and restaurants improve their profitability in food delivery.
ElectraMeccanica requests all third-party media sites that may have reproduced our February 23, 2022 press release to remove this press release and correct any inaccuracies, if any, based on this corrective press release.
About ElectraMeccanica Vehicles Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of energy-efficient electric vehicles (EVs). The company‘s flagship vehicle is the innovative, purpose-built single-seat electric vehicle called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. Designed 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 highway safe. the SOLO also includes 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 combines a modern look with safety features at an accessible price of $18,500 for the consumer model and $24,500 for the delivery-focused model. SOLO Cargo model, which features an enlarged cargo bed to fit a wide variety of fleet and commercial applications. the SOLO is currently available to order here. For more information, please visit www.electrameccanica.com.
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