ElectraMeccanica Nears Decision on U.S Assembly Facility, Announces Q1 “Solo Drive Tour”

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(GLOBE NEWSWIRE)

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, today provided an update on the opening of six (6) new retail locations this past Fall. In addition, Company management has issued a status report regarding its decision on the site search for a U.S.-based assembly and engineering technical facility. ElectraMeccanica is also announcing an early-adopter test drive program called the “SOLO Drive Tour” as part of the expansion of its ongoing integrated marketing campaign.

Since October, ElectraMeccanica has opened six (6) new retail locations in: San Diego, CA; Brea, CA; Scottsdale, AZ; Glendale, AZ; Santa Clara, CA and Walnut Creek, CA. All retail storefronts are fully operating and have expanded the Company’s existing footprint from four (4) to 10 locations in five (5) key markets with more announcements planned for 2021.

“We have been encouraged by the success of our ongoing retail awareness campaign and the overwhelmingly positive response from consumers, especially in our new locations,” said Rivera. “The strong early performance we’re seeing speaks to a readiness in the broader market for the SOLO as a solution that addresses urban driving challenges. As we emerge from the pandemic, we believe the SOLO is uniquely positioned to provide owners a safe, reliable and completely self-contained transportation alternative.”

The Company is also providing a status report regarding its decision for a U.S. assembly facility and engineering technical center location.

Rivera added: “Regarding our site selection decision for an assembly plant, representatives from the two finalist locations in Tennessee and Arizona have been overwhelming in their enthusiasm for this project,” added Rivera. “Their detailed plans to develop the SOLO ecosystem have presented us with exciting opportunities that we continue to evaluate with the latest updated proposals being received as recently as last week. One of the key considerations in making this decision is to ensure for the viability and support for our overall vision of a SOLO ecosystem and pilot test program. Our ultimate selection will mean a long-term commitment for both sides. We look forward to making a formal announcement early in the new year and appreciate the patience and consideration of all interested parties while we work to do so.”

As previously announced, the Company has been introducing extensive and multi-channel new marketing initiatives intended to boost awareness of the ElectraMeccanica brand and the SOLO EV.

As part of a broader campaign that will be introduced in the first quarter of 2021, the Company will debut their exclusive early adopter “SOLO Drive Tour.” The invitation-only events in selected markets will include individualized test-drives for early reservation holders to provide these first customers with the opportunity to look, see and “Drive SOLO.” These demonstrations, which will be conducted in accordance with all local COVID-19 safety protocols, will be hosted at new and existing retail locations including a kickoff event scheduled for Scottsdale, AZ in January followed by events at California and other locations later in the quarter subject to local and state government orders.

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/.

About ElectraMeccanica Vehicles Corp.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles (EVs). The company’s flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility.

The SOLO provides a driving experience that is unique, trendy, fun, affordable and environmentally friendly. InterMeccanica, a subsidiary of ElectraMeccanica, has successfully been building high-end specialty cars for 61 years. For more information, please visit www.electrameccanica.com.

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