Many of these factors are beyond the Companys ability to control or predict. The proposed US facility is the best fit for ElectraMeccanicas plan to ramp up production on its flagshipSOLOEV. Theelectromotive vehicle market in America is estimated to register a nearly five-fold growth, reaching nearly 7 millionunit sales by 2025 from1.4 million last year, according to the analysis. The diminutive Solo is unlike any other vehicle on the road. You can With this news, Arizona is quickly becoming a new hub for electric vehicle manufacturing. Use the 'Report' link on 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. ElectraMeccanica has crafted a three-part strategy for rolling out the Solo. Receive special offers from The Daily News and select partners including discounts, contests and more. 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. Variable clouds with scattered thunderstorms. 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. Apteras latest designs have also been a great example of how efficient 3-wheeled EVs can be. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders equity. The SOLO is currently available for order here. Ford & CATL Factory Wont Be Built In Virginia. Sandra Watson, Mesa Mayor John GIles, ElectraMeccanica's Susan Docherty and Arizona Gov. The companys flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. Please log in, or sign up for a new account and purchase a subscription to read or post comments. Arizona has rapidly become the hub of electric vehicle (EV) manufacturing in the U.S. Start your morning with the top headlines each day. Now, Maricopa County has entered the EV market. ElectraMeccanica Chief Revenue Officer Kim Brink said the decision to relocate the company's headquarters from British Columbia, Canada to Mesa was made earlier this month. Today, ElectraMeccanica has announced the remaining two finalists as Arizona and Tennessee. View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005088/en/, Patrick PharrisPatrick@PharrisMedia.com (702) 491-7464, https://www.businesswire.com/news/home/20230106005088/en/. Required fields are marked *. Be Proactive. For more information, please visit www.emvauto.com. What Confluence Has Brought EVs To The Mainstream? 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The company has been looking for the right city to build its headquarters and production facilities for about a year. Investchronicle.com is an Economic news website, which offers broad information about the Stock markets and Equities. 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. We wantto mitigate against the Chinesetariffs, he added. ICYMI is a weekly newsletter highlighting stories from the past week. workday short, to the point, 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. Featured image provided by ElectraMeccanica. While Arizona made the most sense given the circumstances and movements surrounding ElectraMeccanica, it had not confirmed our suspicions. She said the decision was one of the first Susan Docherty made as CEO. Arizona has fast become the electric vehicle center of America thanks to our robust and growing workforce, vibrant innovation ecosystem, and ideal business environment. ElectraMeccanica expects the full production of the Solo models to get going in Mesa by the end of 2023. This is the fourth time Arizona is hosting the Super Bowl, following 1996, 2008 and 2015. We are proud of these one-of-a-kind vehicles that will be made in Mesa, bolstering Arizonas robust manufacturing industry. The Canada-based electric vehicle designer and . Raw Stochastic average of Electrameccanica Vehicles Corp. in the period of last 50 days is set at 46.07%. Your account has been registered, and you are now logged in. ElectraMeccanica also expects its new home to generate second order effects that positively impact local and state economies in Arizona. 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. each comment to let us know of abusive posts. The SOLO is going to be a 3-wheeled EV built for . Oops! Within each finalist state, the Company has selected two finalist sites within the Phoenix, AZ metro . My thanks to ElectraMeccanica, the Arizona Commerce Authority, the City of Mesa and all involved in bringing this exciting project to Arizona. . The other four companies have just as much potential. Thats 6.25 miles per kWh, or 160 Wh per mile. 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. 51% Plugin Vehicle Share In The Netherlands! The company said it plans to make more than 20,000 cars a year. a wide range of relevant stories and Something went wrong while submitting the form. Drawing on a 60-year legacy of building and delivering high-end custom cars, our flagship vehicle is a single-seat . The Arizona Super Bowl Host Committee is a nonprofit organization responsible for planning and executing a successful Super Bowl LVII in 2023. March 23, 2021. On May 15, Vancouver, Canada-based ElectraMeccanica Vehicles Corp. broke ground on its first U.S.-based assembly facility and engineering technical. Events include: For more information, please visit: https://bit.ly/3DMrUsm. Give Light and the People Will Find Their Own Way. VANCOUVER, British Columbia--(BUSINESS WIRE)--ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (ElectraMeccanica or the "Company"), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, will be exhibiting at four events and offering test drives of the SOLO in its current markets of California and Arizona over the next two months. The companys flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. Chris Camacho, president and CEO of the Greater Phoenix Economic Council, says This facility is going to be one of the most advanced state-of-the-art OEM facilities in the U.S. And this vehicle is a head-turner. In a press release today, ElectraMeccanica ($SOLO) announced the site for its US-based assembly facility. (adsbygoogle = window.adsbygoogle || []).push({}); Subscribe to electrive today by Most people want a more traditional vehicle with at least 4 or 5 seats because theyd be able to use it for more things than they could use a 1-2 seater vehicle for. Additionally, it will include testing workshops for vehicle chassis, battery packs, and power electronics. FTC: We use income earning auto affiliate links. Furthermore, the Mesa plant will be capable of producing up to 20,000SOLOsper year. '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. Canadian EV designer and manufacturer Electra Meccanica held a commissioning ceremony for its nearly-completed manufacturing facility in Mesa, Arizona in the USA. Advertise with CleanTechnica to get your company in front of millions of monthly readers. ElectraMeccanica Vehicles Corp. has selected Mesa, AZ for its U.S. based assembly facility and engineering technical center. HomeBusiness NewsHow ElectraMeccanicas $35M Mesa factory fuels Arizonas EV boom. Read more of this story from the Business Journal. Features include 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. Chance of rain 50%.. Generally clear. Instead of trying to narrow the vehicle horizontally, Aptera narrowed the vehicle vertically and came up with an airplane-like design. At the very opening of the session, the stock price, For the readers interested in the stock health of Minerva Surgical Inc. (UTRS). November 08, 2022 09:35 AM Eastern Standard . electric mobilityindustry. 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. VW ID. The Service Advisor will focus on partnering with quality, sales, delivery, ops, and service teams to ensure external customers, owners . Subscribe to Email Newsletters And Breaking News Alerts, ElectraMeccanica Announces Partnership With Arizona Super Bowl Host Committee. Quotes displayed in real-time or delayed by at least 15 minutes. Thank you to the entire ElectraMeccanica team, Sandra Watson and her team at the Arizona Commerce Authority, Mayor Giles and the City of Mesa, and local leaders for your support on this important project.. It was once planned to be just the future manufacturer of its single-seat, three-wheel Solo model, but ElectraMeccanica . 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 . The 1-year high price for the companys stock is recorded $1.0800 on 01/11/23, with the lowest value was $0.6061 for the same time period, recorded on 01/03/23. 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. 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. Had not confirmed our suspicions narrowed the vehicle horizontally, Aptera narrowed the vehicle vertically and came up With airplane-like. Order effects that positively impact local and state economies in Arizona nonprofit organization responsible for planning and executing a Super. 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