Secondly, the companys current retail locations are in Oregon, California, and Arizona. 5 min read. According to Mesa Mayor John Giles, the site offers a number of strategic advantages. ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a designer and manufacturer of environmentally efficient electric vehicles (EVs). To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. You can read further details here. (adsbygoogle = window.adsbygoogle || []).push({}); Canadian EV designer and manufacturer Electra Meccanica held a commissioning ceremony for its nearly-completed manufacturing facility in Mesa, Arizona in the USA. Your email address will not be published. Called it! 51% Plugin Vehicle Share In The Netherlands! No other state in the country provides a better environment for ElectraMeccanica to scale its leading-edge technology, and we look forward to continuing to be a partner in the companys long-term success. We believe Mesas population size and density provides a great talent pool as we look forward to contributing to the growing high-tech environment.. When fully operational, we anticipate creating hundreds of new jobs for the local economy. Electrameccanica Vehicles Corp. (SOLO): Investors Electrameccanica Vehicles Corp. (NASDAQ:SOLO), Alamos Gold Inc. (AGI): The stock ticks all the boxes for top investors, Annaly Capital Management Inc. (NLY): Ready for an explosive trading day, CN Energy Group. racist or sexually-oriented language. electric mobilityindustry. Frances EVs Take Record Quarter Share Of Market, Sandy Munro: The Coming Wave of Chinese EVs, Sandy Munro On Which Automakers Are Getting It Right Besides Tesla, Sandy Munro: How Tesla Gets To The $24,000 Car, Sandy Munro: Tesla Is Engineering At The Speed Of Thought. This includes eight current locations that are open in the Western United States. Phoenix ranks as the fifth largest city in the U.S. according to 2020 census data, with nearly 1.8 million residents. ElectraMeccanica is unique in launching a three-wheeled EV that can hit 80 mph with 100 miles of range. If you forget it, you'll be able to recover it using your email address. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. The engineering tech center will include development and engineering offices, as well as battery, chassis and power electronics labs. Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer. The industry-facing website Don't knowingly lie about anyone Take THAT, China! One of the criteria that the company was looking for was workforce, and thats a strength in this part of the Valley. The SOLO is going to be a 3-wheeled EV built for urban environments. Investchronicle.com is an Economic news website, which offers broad information about the Stock markets and Equities. Plan your fishing trips with Capt. Joe Kent's Reel Report every evening. ElectraMeccanica is the fifth electric vehicle manufacturing plant to open in Arizona since 2016. Common stock shares were lifted by -7.25% during last recorded quarter. The Service Advisor will focus on partnering with quality, sales, delivery, ops, and service teams to ensure external customers, owners . About the Arizona Super Bowl Host Committee. This is the fourth time Arizona is hosting the Super Bowl, following 1996, 2008 and 2015. newsletter is published every Your account has been registered, and you are now logged in. We want to tap into the U.S.talent pool. person will not be tolerated. ElectraMeccanica can produce 20,000 electric vehicles (EVs) annually . ElectraMeccanica is not alone in its migration to the Grand Canyon State, either. At least until now. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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. The stocks price range for the 52-week period managed to maintain the performance between $0.57 and $2.44. The diminutive Solo is unlike any other vehicle on the road. Additionally, Global EV network Chargepoint has two offices up the road in Scottsdale. For more information, visit azsuperbowl.com or follow @AZSuperBowl on Twitter, Instagram and Facebook. 5 Undervalued Stocks For 2023 each comment to let us know of abusive posts. ElectraMeccanica now at home in North America. She worked with Dale Clift to build a few prototypes for a lightweight 3-wheeled vehicle that could achieve 80 MPG using a motorcycle engine. We are proud of these one-of-a-kind vehicles that will be made in Mesa, bolstering Arizonas robust manufacturing industry. On top of that, the company wants to run a pilot program for a vehicle sharing system in Mesa and eventually throughout the wider Phoenix metro area, but it is keeping details on that system under wraps for now. Create a password that only you will remember. We won't share it with anyone else. Currently, the company is promoting the vehicle at retail kiosks in malls throughout the state. developments in electric transport The factory will focus on light assembly, with parts and components produced by the companys manufacturing partner, Zongshen Industrial Group, in China. Governor Doug Ducey and ElectraMeccanica celebrated the start of production for the company's electric vehicles, continuing Arizona's manufacturing momentum following a week of major . County events celebrate life and legacy of Martin Luther King Jr. County celebrates Martin Luther King Jr. with prayers, parades, Galveston County artist creates mythical mural at the Sunshine Center, Plungers hit the water to raise funds for aquatics program, Brand-new gentoo makes debut at Galveston's Moody Gardens, Santa makes appearance at Galveston recreation centers, How about covering the corruption many worry about, Guest commentary: 'Will of the People' is a complex concept, An expert's warning: "No street drug is safe right now'. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 79.13%. Highest Fuel Economy Cars in 2023 U.S. DOE Releases Top 10 Lists For Model Year 2023, Geely Group Sales Of Electrified & Clean Alternative Fuel Vehicles Doubled To 675,000+ Units, 29% Of Sales, Mahindra Launches Its First C-Segment Electric SUV, The XUV400, Starting At $19,500, 2023 Chevrolet Bolt EUV Premier Redline Edition Video Review, Renault Megane E-Tech Electric Review 1st Impressions, Volvo C40 Recharge Review 1st Impressions, MG5 Station Wagon EV Long Range Review 1st Impressions, UKs EV Share Hits 40% In December Tesla Model Y Overall Bestseller, 100 Best Selling BEVs in 10 European Countries. The Mesa facility will feature both a light vehicle assembly plant along with a state-of-the-art engineering technical center. SOLO on display and available for test drives at the Fleet Forward Conference, Los Angeles Auto Show, Arizona International Auto Show and San Diego International Auto Show. Vehicles Presented to Committee at Kick-off Media Event. First is a direct-to-consumer approach. ElectraMeccanica is the latest vehicle manufacturer to set up shop in Arizona, breaking ground on a 235,000 square foot facility. As just one part of its partnership, ElectraMeccanica presented the SBHC with ten custom-wrapped, all-electric, SOLOs for the Committee to use as courtesy vehicles during the Super Bowl during January and February. At the time of this writing, the total market value of the company is set at 116.87M, as it employees total of 216 workers. More. Even if someone almost always drives alone, they want to get the most bang for their buck, and be able to use it on occasion to pick up a TV from the electronics store or to take some friends out on a double-date. Jennifer Sensiba is a long time efficient vehicle enthusiast, writer, and photographer. We wantto mitigate against the Chinesetariffs, he added. The Canada-based electric vehicle designer and . We want to set an example for other such events throughout America, and hopefully, around the world. The goal of the Host Committee is to galvanize local stakeholders in a united approach to hosting the largest single-day sporting event in the world by maximizing positive media exposure, fueling the economic engine of Arizona, and leaving a lasting legacy in the community. Get the latest local and national sports headlines deliveredto your inbox every morning. Ford & CATL Factory Wont Be Built In Virginia. The companys flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. The shares increased approximately by 36.86% in the 7-day charts and went up by 12.20% in the period of the last 30 days. 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. The SOLO also 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. What Confluence Has Brought EVs To The Mainstream? BMW iX review: How efficient is the BMW eSUV in real life? The new factory will ultimately create about 500 jobs, and the people working there will be able to build up to 20,000 of the SOLO vehicles every year. The company will be producing its flagship EV, the single-seat Solo. MESA, Ariz., January 06, 2023--(BUSINESS WIRE)--ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) today announced its partnership with the Arizona Super Bowl Host Committee (SBHC) during an official vehicle hand-off event at the Phoenix Convention Center. How Do You Charge An Electric Car At Home? Canadian electric-vehicle maker ElectraMeccanica will build its three-wheeled, single-seat commuter car for the U.S. market at a factory in Mesa, Ariz. Company officials still say that they hope to eventually build a vehicle, but need a lot more funding to start building cars, but many accuse the company of being vaporware. Start your morning with the top headlines each day. 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. Its only built for one occupant, and can go up to 100 miles. We previously reported the EV startup had whittled its list down to two finalists, Arizona and Tennessee. No racism, sexism or any sort of -ism This role will work out of 8127 E Ray Road, Mesa, AZ 85212. Many of these factors are beyond the Companys ability to control or predict. Many of these factors are beyond the Companys ability to control or predict. ElectraMeccanica Vehicles Corp. has selected Mesa, AZ for its U.S. based assembly facility and engineering technical center. a wide range of relevant stories and Today, ElectraMeccanica has announced the remaining two finalists as Arizona and Tennessee. ElectraMeccanica is the fifth electric vehicle manufacturing plant to open in Arizona since 2016. Forward-looking statements are made based on managements beliefs, estimates and opinions on the date the statements are made, and the Company undertakes no obligation to update forward looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Its just inevitable, Rivera said. On May 15, Vancouver, Canada-based ElectraMeccanica Vehicles Corp. broke ground on its first U.S.-based assembly facility and engineering technical. The vehicles will help SBHC employees and volunteers to easily navigate crowded city streets and limited parking options. Mutual Fund and ETF data provided byRefinitiv Lipper. As for the SOLO, the automaker is set to launch the single-occupant, three-wheeled EV in North America this year. With this news, Arizona is quickly becoming a new hub for electric vehicle manufacturing. "I think this was a very natural place for us to come. Receive the latest Dear Abby column in your inbox each morning. Plus, there are already a Tier 1 supply base and engineering partners coming here because of the other EV manufacturers. UACJ Whitehall, a leading supplier of precision extruded aluminum automotive components for EVs, recently announced that it will be opening a plant in Flagstaff, while Li-Cycle, a leader recycling of lithium-ion batteries, the type used in EVs, will build a facility in Gilbert. Receive Laura Elder's Biz Buzz direct to your inbox every Sunday. ElectraMeccanica is eligible for more than $8 million in grants and tax credits from the state but, as of March, hadn't received any incentives, according to the Arizona Commerce Authority.. ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a designer and manufacturer of environmentally efficient electric vehicles (EVs). ElectraMeccanica will also support the SBHC by participating in various events throughout Arizona during the weeks leading up to the Super Bowl, including an interactive display at the Super Bowl Experience presented by Lowe's at Hance Park, 100 Yards of Education: A STEM Playbook for Youth education event at State Farm Stadium with an anticipated attendance of more than one thousand students . Except 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. Depending on driving conditions, temperature and climate controls, the SOLO has a range of up to 100 miles and a top speed of up to 80 mph. As just one part of its partnership, ElectraMeccanica presented the SBHC with ten custom-wrapped, all-electric, SOLOs for the Committee to use as courtesy vehicles during the Super Bowl during. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders equity. SOLO is an experience. 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. Paul Rivera, CEO of ElectraMeccanica, adds that the tipping point was Arizonas accessibility to the companys target market: the West Coast. Bringing our manufacturing facility and vision for our company to life only works if there is a true partnership between local and state government leaders who are committed to economic development, along with solid business partners who share a vision to create products that consumers crave.. Within each finalist state, the Company has selected two finalist sites within the Phoenix, AZ metro . This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. The facility plus an engineering technical center will be in Mesa, Arizona. After getting investor money, building three prototypes, and then getting more investor money, she disappeared for years, hiding in Dale, Texas and assuming another name. This announcement comes just months after a rapid retail expansion in the US. While the idea of an efficient 3-wheeled vehicle is exciting from an environmental perspective, it hasnt been easy for new companies to get their footing. The other four companies have just as much potential. 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 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 anticipates, estimates, projects, expects, contemplates, intends, believes, plans, may, will, or their negatives or other comparable words) are not statements of historical fact and should be viewed as forward-looking statements. This is a single occupant EV, Rivera said, adding that its different than any other vehiclethats out there., This is our flagship, its SOLOand its for everything that youdo solo, he continued. The content produced by this site is for entertainment purposes only. Top speed is 80 MPH, so its highway capable. Following a year-long nationwide search, which included about a dozen locations in the Greater Phoenix region, Mesa eventually won out over Nashville, Tennessee. This material may not be published, broadcast, rewritten, or redistributed. This is the fourth time Arizona is hosting the Super Bowl, following 1996, 2008 and 2015. VANCOUVER, British Columbia, October 06, 2022--ElectraMeccanica Secures License to Sell SOLO EV in Arizona . Legal Statement. Sandra Watson, President and CEO of the Arizona Commerce Authority said the following: We couldnt be more excited to welcome ElectraMeccanica to Arizona as the latest electric vehicle innovator to choose our state. Plans for this program will be forthcoming. The company will also . We have made a significant commitment to Arizona by recently moving our corporate headquarters and manufacturing facility to Mesa, said Susan Docherty, CEO of ElectraMeccanica Vehicles Corp. It is important for us to support our home state, and by so doing, to help the SBHC deliver the greenest Super Bowl ever. The SOLO also 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. Situated on 18 acres of land between Phoenix-Mesa-Gateway Airport and the Loop 202, the 235,000-square-foot state-of-the-art ElectraMeccanica complex will include a light vehicle assembly plant, 22,000 square feet of offices and 19,000 square feet of comprehensive research facilities. Other electric car manufactures in the state include luxury. ElectraMeccanica also expects its new home to generate second order effects that positively impact local and state economies in Arizona. ElectraMeccanica will be building its SOLO EV at the facility, which is a small car intended for individual commuters. Beyond working to address commuting and traffic congestion challenges in the region, the Company intends to work with local municipalities to initiate a future pilotSOLOshare ecosystem in the Mesa and the greater Phoenix region. Please avoid obscene, vulgar, lewd, She grew up around a transmission shop, and has been experimenting with vehicle efficiency since she was 16 and drove a Pontiac Fiero. Copyright 2022 Scripps Media, Inc. All rights reserved. Furthermore, the Mesa plant will be capable of producing up to 20,000SOLOsper year. We are thrilled to bring production of our vehicles onshore and introduce an enhanced, U.S.-built 2023 model year SOLO EV to market, remarked Susan Docherty, CEO of ElectraMeccanica. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. No matter how you measure the efficiency, thats pretty amazing. Total Debt to Equity Ratio (D/E) can also provide valuable insight into the companys financial health and market status. She said the decision was one of the first Susan Docherty made as CEO. She worked with Dale Clift to build a few prototypes for a lightweight 3-wheeled vehicle that achieve! Bowl, following 1996, 2008 and 2015 vehicle manufacturer to set an example other. The remaining two finalists as Arizona and Tennessee plant will be made in Mesa, bolstering robust. Dear Abby column in your inbox every morning ratio can be calculated by the. And can go up to 100 miles current locations that are open in Arizona was looking for was,! Great talent pool as we look forward to contributing to the companys ability to control or predict decision. Speed is 80 mph, so its highway capable in this part the... Raw Stochastic average for the period of the other four companies have just as much potential the total... 3-Wheeled EV built for one occupant, it offers a number of strategic.! 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