CEO Report, February 2017

I have just returned from China, where I toured the future home of our SOLO manufacturing facilities. We will initially use these facilities for mass production of parts — and eventually for complete cars beginning later this year and into 2018. Our Canadian production facilities in Vancouver are great, but they don’t have the capacity to fulfill the growing number of orders we will need to produce in a timely fashion, or the ability to ship them around the world in a cost-effective way.

 

I have always been impressed by the efficiencies and scale of manufacturing in Asia, and our partners are some of the best on the planet. They have world-class quality control standards and a reputation for making some of the best vehicles for very large and well-known global motoring companies. It’s also encouraging to see the enthusiasm being applied now to clean energy vehicles — and in particular to the SOLO — as a way of disrupting the harmful effects of fossil fuel vehicles. Not only do governments “get it”, but also now industry, consumers and investors are making this a priority in their decisions. We have truly passed a tipping point towards the closing down of harmful carbon emissions from fossil fuel.   There are STILL some naughty companies coercing governments to allow for new fracking and pipelines, but even they can see the writing on the wall.

 

We are nearing the end of our initial pre-production run of ten SOLOs, and have been sorting out the build procedures and, once complete, I am looking forward to making the first customer deliveries soon. If all goes to plan, we will begin delivering the first of our pre-orders locally, likely around the time of the Vancouver Auto Show which runs from March 28-April 2. Once we have a number of customer cars happily driving around the Vancouver area, we’ll start sending them further afield and out of the country.   I’m happy to say that our US Compliance Certification continues to move along and we will announce the results in due time.

 

Our Advanced Performance Division is working hard on our amazing SOLO R race car for its upcoming debut in Silicon Valley. We’ll have a private test at one of my favourite race tracks, and provide video and details to you on the results of this first running.   We’re targeting the third week of March for this, so brace yourself! Not only will it be fast, it’ll look amazing. That’s what racing is all about, right? We may even consider making the SOLO R race car available to select clients who have the appropriate racing license.   Noisy race tracks are one of the biggest problems in the industry, and SOLO is the ultimate solution. Now let’s see if it can pass the cars that currently make up the grids!

 

Our SOLO orders from individuals have now eclipsed 450. We’ve introduced a new program for people who have standing deposits on other cars. The program allows those people to send their current deposit receipt to us and we’ll credit the full amount of the receipt towards the purchase of a SOLO. You can check out SmallEV.com for more details. We still also accept $250 as a fully refundable deposit on any one of the four colours of EMV SOLO. Silver is now the most popular colour ordered, with red and white close behind. We’ll soon have a full running example of the SOLO in black when our pre-production #6 car is finished, and we’ll get our marketing team to post images on our website and social media channels when ready. Kind of like a one person electric Batmobile!!

 

February will see us opening up our first two SOLO Intro Stores in the Vancouver area, which will be replicated around the world. I’m excited about getting the cars in front of people in high traffic areas. It’ll create awareness and provide a platform for how best to stage future SOLO dealerships and retail outlets.

 

Speaking of high traffic, please make plans to visit us at the Vancouver Auto Show, which will take place at the Trade and Convention Centre from March 28-April 2. I hope to display the freshly tested SOLO race car, one or two shiny new SOLOs, and of course the SOLO chassis so people can see the magic that happens underneath the cool SOLO exterior. I should be there every day, along with the rest of our SOLO team. Show hours and other details will be posted on the EMV website over the next few days, and make sure to sign up for the EMV newsletters.   Much, much more to come in the next few weeks and months!

 

See you soon!

 

Jerry Kroll, CEO

Electra Meccanica Vehicles

ELECTRA MECCANICA GEARS UP TO OPEN SOLO INTRO STORES AND DEALERSHIPS AROUND THE WORLD, APPOINTS MARK WEST AS PRESIDENT

ELECTRA MECCANICA GEARS UP TO OPEN SOLO INTRO STORES AND

DEALERSHIPS AROUND THE WORLD, APPOINTS MARK WEST AS PRESIDENT

Vancouver, British Columbia – January 9, 2017 – Electra Meccanica Vehicles Corp., (“EMV” or ‘the Company”), a Canadian-based designer and manufacturer of the SOLO, an all-electric single passenger vehicle developed to revolutionize the way people commute, announces the appointment of Mr. Mark West as President of the Company. In this capacity, Mr. West will focus on developing the strategic direction of EMV’s dealership and sales operations, with a vision to expand SOLO Intro Stores and Dealerships worldwide.

Mr. West made his mark in the highly competitive food and beverage industry over the past 25 years culminating as President of Blenz Coffee. He oversaw the growth of the coffee chain from ten stores in British Columbia to over 70 stores in Canada and Asia, and successfully built the Blenz brand in BC, Alberta, Japan and the Philippines by developing a highly successful franchise program.

“Mark brings a wealth of experience in strategic planning, franchise development, sales, marketing and operations”, remarked Jerry Kroll, Founder and CEO of Electra Meccanica. “Based on his collaborative leadership style and extensive knowledge of franchise models, Mark will contribute to our Company’s success by developing our brand and establishing Electra Meccanica dealerships around the world”.

Mr. West said, “As an automotive enthusiast, I am excited to join the team at EMV. I am passionate about the environment and I see the SOLO as a welcomed entrant to the electric vehicle space. We have a unique and innovative commuter vehicle at a price point that will have mass appeal. With upcoming SOLO production and deliveries, I invite all interested parties to explore a SOLO dealership in this rapidly expanding business.”

More information on the SOLO and how to become an Electra Meccanica car dealer can be found at https://electrameccanica.com. Interact with ElectraMeccanica at facebook.com/EMVsolo@ElectraMecc and view videos on YouTube at http://bit.ly/2bigEaF.

About Electra Meccanica Vehicles Corp.

Electra Meccanica strives to be the driving force behind sustainable transport by creating the compelling mass market, all-electric SOLO. The vehicle will make the urban commute more efficient, cost-effective and environmentally friendly. The SOLO’s futuristic design is powered by a 16.1 kWhs lithium ion battery and the drive system is tuned for higher speed and mobility. With a range of 160kms (100 miles), and a top speed of 130kms/h (80 mph), the SOLO delivers superior performance and spirited driving.

CONTACT INFORMATION

Jeff Holland
Head of Media Relations
Tel. 562-640-1758
Email: JeffHolland@electrameccanica.com

Alexia Helgason
Director, Investor Relations
Tel. 604-728-4407
Email: alexia@electrameccanica.com

Electra Meccanica Vehicles Corp.
102 East First Avenue
Vancouver, BC Canada V5T 1A4

Safe Harbour Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws.  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 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”. 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. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, 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.  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.  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. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.  The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

__________

From the Desk of Jerry Kroll

I recently went down to Sonoma, California to update my racing license in a Formula 3 car at Sonoma raceway. Aside from having a blast in the SimRaceway school cars, I had a chance to drive a gasoline powered Mercedes-Benz rental from Hertz. I don’t usually drive gasoline cars, so this gave me a chance to experience what today’s gas cars are like and compare it to our own SOLO electric car.
The weirdness of having a gasoline motor being turned on and idling is the first reminder that we’re back in the 1900’s. There was a small “battery” logo on the dashboard that would charge up instantly and fully under any braking, and then drain instantly on acceleration. The other annoying thing was the internal combustion engine stopping and starting at every traffic light. How do people find THAT pleasant? I enjoy my analogy of gasoline cars being like fax machines, and electric cars being the internet. I’m more convinced of that now than ever.

And speaking of racing, you can expect some interesting activity early in the new year as the Electra Meccanica (EMV) “Advanced Performance Team” takes to the track with our first few Racing SOLOs. To me, this is the best way to both develop our road car technology, AND to showcase the SOLO performance envelope. I was twenty seconds a lap off the times of race prepared cars in the street stock SOLO, so with some tweaking, racing slicks and some other top secret tweaks, I would suggest you don’t put your Ferrari out there with us until after you’ve seen a few passes! The Racing SOLO team will be introduced at a trade event early in the new year.

The busiest department currently at Electra Meccanica is our production team, who have settled into our newly expanded production facility in New Westminster, British Columbia. I’ve driven the first pre-production SOLOs, one of which has gone to complete US Federal compliance and certification testing. I expect us to complete pre-production by the end of the year and get right into production for those of you who are eagerly awaiting your cars. They perform wonderfully, and are super eye-catching in traffic. Our marketing team is looking forward to taking photos of all of you as you get your keys and drive off in your new SOLO and so am I.

2017 will likely be the most profound year in the history of Electra Meccanica. So much work has been done, so much is ready to roll out in the way of cars, dealerships and general corporate development. Lots of work ahead, and I’m excited by what we’ll do and where we’ll be in December 2017.

We have booked EMV to be at the Vancouver Auto Show from March 27th to April 2nd, and we’ll announce other exhibits around the world as they are confirmed. On behalf of everyone at Electra Meccanica, I sincerely thank you for your interest and support, and I look forward to meeting you in person in the new year–and watching your first drives in your very own SOLO!!

Happy Holidays and the best for 2017,

Jerry Kroll, CEO
ElectraMeccanica Vehicles Corp.

Electra Meccanica to Honor All Other Vehicle Manufacturer’s Vehicle Deposits Toward Purchase of the SOLO Electric Vehicle

Vancouver BC, December 13, 2016 – Electra Meccanica Vehicles Corporation announced today that they will be honoring all deposits from individuals who have existing pre-orders with other vehicle manufacturers. Specifically, the company will honor all levels of customer deposits up to $1,000 USD with an equal value deposit for a new SOLO electric car upon final delivery of their vehicle.

 

Developed by Electra Meccanica, the SOLO is the first all-electric, single-seat vehicle designed to reduce congestion, air pollution and operating cost. It has a top speed of 80 miles per hour with a 100 mile range on a full charge that would cover most drivers’ daily commuting needs, making SOLO the ideal supplementary vehicle that is fun to drive at an affordable price. Deposit transfers and pre-orders can be made by visiting the SOLO website at http://smallEV.com.

 

“With the recent financial and production challenges faced by some of our competitors, we’ve had some of their reservation holders ask us if they could transfer their deposits over to a SOLO because of either uncertainty about their vehicle ever being produced or they just didn’t want to wait for years to get their car,” said Jerry Kroll, CEO of Electra Meccanica. “We wanted let others know that we will accept those deposits and provide relief for reservation holders with a suitable vehicle replacement option.”

 

About Electra Meccanica

Electra Meccanica Vehicles Corp. is a Canadian-based designer and manufacturer of the SOLO, an all-electric, single passenger vehicle developed to revolutionize the way people commute. Electra Meccanica combines founder Jerry Kroll’s extensive background in the race car industry with Intermeccanica custom coach builders’ 50 years of experience building high-quality, specialty vehicles. With the release of its first production vehicle in 2017, the Electra Meccanica SOLO, and the continuing establishment of a growing global dealer network, the company aims to put an electric vehicle in everyone’s driveway by making ownership simple, fun and affordable.

 

More information on the SOLO and how to become an Electra Meccanica retailer can be found at https://electrameccanica.com. Interact with ElectraMeccanica at Facebook/EMVSolo, @ElectraMecc and view videos on YouTube at http://bit.ly/2bigEaF.

 

Safe Harbour Statement

 

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws.  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 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”. 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. Such risks and other factors include, among others, the actual results of activities, variations in the underlying assumptions associated with the estimation of activities, 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.  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.  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. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.  The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

 

Media Contact

Jeff Holland

Electra Meccanica Vehicle Corp.

Head of Media Relations

Tel. 562-640-1758

Email: JeffHolland@electrameccanica.com

 

Alexia Helgason

Director, Investor Relations

Tel. 604-728-4407

Email: alexia@electrameccanica.com

 

Electra Meccanica Vehicles Corp.

102 East First Avenue

Vancouver, BC Canada V5T 1A4

MAYA Simulation Provides Support to Electra Meccanica for SOLO Electric Vehicle

       

 

Montreal, QC/Vancouver BC, December 5, 2016 – MAYA Heat Transfer Technologies Ltd. (hereinafter MAYA) and Electra Meccanica Vehicles Corporation jointly announced today that the two companies have agreed to collaborate to help Electra Meccanica enhance the development and accelerate the time-to-market for its new SOLO electric vehicle.

 

MAYA has been selected for its in-depth knowledge of Siemens’ product lifecycle management (PLM) software solutions as well as its expertise in the computer aided engineering (CAE) and the automobile industry, which are instrumental in ensuring design optimization in structure, thermal, flow and material composition and to maximize the overall performance of SOLO.

 

Developed by Electra Meccanica, the SOLO is the first all-electric, single-seat vehicle designed to reduce congestion, air pollution and operating cost. It has a top speed of 80 miles per hour with a 100 mile range on a full charge that would cover most drivers’ daily commuting needs, making SOLO the ideal supplementary vehicle that is fun to drive at an affordable price. Pre-orders can be made by visiting the SOLO website at http://smallEV.com.

 

“The team at MAYA has been an integral part in expediting the development time in helping bring the SOLO EV to market,” said Jerry Kroll, CEO of Electra Meccanica. “Their engineering solutions help to enhance the vehicle’s performance capabilities in making it a true driver’s car with an unmatched ride and handling.”

 

“At MAYA we believe that electric cars, fed by grids with renewable energy, and the electrification of transportation in general, will be the driving force in reducing fossil fuel consumption. Working with Electra Meccanica, we intend to apply our expertise in simulation and our experience in the automotive industry to help bring SOLO to the market”, said Inta Zvagulis, President, MAYA Heat Transfer Technologies.

 

About Electra Meccanica

Electra Meccanica Vehicles Corp. is a Canadian-based designer and manufacturer of the SOLO, an all-electric, single passenger vehicle developed to revolutionize the way people commute. Electra Meccanica combines founder Jerry Kroll’s extensive background in the race car industry with Intermeccanica custom coach builders’ 50 years of experience building high-quality, specialty vehicles. With the release of its first production vehicle in 2016, the Electra Meccanica SOLO, the company aims to put an electric vehicle in everyone’s driveway by making ownership simple, fun and affordable.

 

More information is available at https://electrameccanica.com. Interact with ElectraMeccanica at Facebook/EMVSolo, @ElectraMecc and view videos on YouTube at http://bit.ly/2bigEaF.

 

About MAYA Heat Transfer Technologies

MAYA Heat Transfer Technologies works with engineering firms to solve their most challenging issues. Our expertise in CAE and ability to address the specific needs of companies’ applications, processes, organization and resource help promote innovation, reduce product cost, improve quality, and accelerate time-to-market. As a core Siemens PLM Software partner, MAYA brings an intimate knowledge of a broad range of products and technologies that enables the delivery of end-to-end solutions customized to meet the most demanding customer needs. http://www.mayahtt.com

 

Safe Harbor Disclosure

This news release contains statements that constitute “forward-looking” statements. Any statements that are not statements of historical fact may be deemed to be forward-looking statements. These statements appear in a number of different places in this news release and, in some cases, can be identified by words such as “anticipates”, “estimates”, “projects”, “expects”, “intends”, “believes”, “plans”, or their negatives or other comparable words. Such forward-looking statements are subject to certain known and unknown risks, uncertainties and other factors which may cause Electra Meccanica’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such statements. Forward-looking statements include statements regarding the outlook for Electra Meccanica’s future operations, plans and timing for Electra Meccanica’s SOLO vehicle, electric vehicle programs, statements about future market conditions, supply and demand conditions, forecasts of future costs and expenditures, and other expectations, intentions and plans that are not historical facts. Although Electra Meccanica believes that its expectations reflected in such forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic and business conditions, hazards customary in the automotive and technology industries, competition in wholesale and retail markets, the volatility of production and manufacturing prices, failure of customers to perform under contracts, changes in government regulation of markets and of environmental emissions, changes in the electric vehicle market, and our ability to achieve the expected benefits and timing of our electric vehicle projects. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Electra Meccanica undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts:

 

Electra Meccanica Vehicle Corp.

Jeff Holland, Head of Media Relations

Tel. 562-640-1758

Email: JeffHolland@electrameccanica.com

 

MAYA Heat Transfer Technologies Ltd.

Dominic Lachance, Marketing Supervisor

Tel. 514-369-5706 x 379

Email: Dominic.lachance@mayahtt.com

 

Electra Meccanica on the CBC

2017 SOLO Reveal Video

From the Desk of Electra Meccanica CEO Jerry Kroll

We are now only 2 days away from the grand introduction of the beautiful 2017 Electra Meccanica SOLO! After many years of development and hard work, I’m here to tell you that the results are nothing short of spectacular. I’m so proud of our Team!

If you are in the Vancouver area, you can visit us this Saturday and Sunday at the Luxury & Supercar Show, where we will be pleased to show you the SOLO in real life! On Saturday, September 10th at 3:30 pm, a special live auction of the VERY FIRST Electra Meccanica SOLO will take place, with the proceeds benefitting Mount St. Joseph’s Hospital, which is a favourite charity of the Supercar show. SOLO #00001 will be the first vehicle to be auctioned off during this prestigious event. If any of our existing SOLO reservation holders wishes to make a winning bid for the first car produced, we will be pleased to move your order, and colour, up to that position. And you will have a genuine collector car for sure!! Should this opportunity be of interest to you, please contact either myself or Lorenzo. We can assist in taking your bids by phone.

If you are not in the Vancouver area, you can watch the Official SOLO unveiling on our website (www.smallev.com) this Friday. It’ll still be exciting!

SOLO Compliance Certification has already begun, and we’ll inform the SOLO world as the process continues for the US, Canada, Europe and elsewhere. Deliveries to customers are expected to commence before the end of this year, and I’m hoping for significant numbers within the next 12 months. SOLO is as much fun to build as it is to drive!!

I hope you all enjoy the next week and share the excitement with your family and friends.

Best regards,

Jerry Kroll, CEO

SOLO Impresses At First Track Appearance

The first time you take ANY car to the track, you never push hard hard. Its more of a systems check. When you have multiple spare cars, parts, etc., then you can push harder, but gradually and in a system. No “Cowboys” allowed on the test track, that’s only in the movies.

The SOLO drove like a Champ on Saturday afternoon, and did a 1:46 lap in its first session at Mission Raceway in British Columbia, and then dropped 3 seconds to a 1:43.3 in its second session. All systems were nominal, and we have a solid baseline of performance. I was driving at 70% the whole time.

As a comparison, the only other cars out there were race prepped “Fast and Furious” type cars with slick tires, doing between 1:25 and 1:33 by our clocks, so SOLO is at the fast side of showroom cars already.

A pdf of track times will be posted as soon as the track sends it to us.

Stay tuned!

From the desk of Electra Meccanica CEO Jerry Kroll:

We are just over a month away from the Public Launch of the 2017 Electra Meccanica SOLO on September 9th, and our first series of cars, the “Signature Series” has already been over-subscribed! Myself, Henry Reisner, and the entire Electra Meccanica team have autographed plaques that will be tastefully installed in each of our first cars, as a memento of our hard work and passion. Initially thinking 120 would be enough, (we’re already at 135) we will extend it to a maximum of 1,000. Based on our current order rate, we should still have some available by Launch date September 9th. All four colours are available in the Signature Series, and its kind of nice to see who was involved in designing, engineering and building your cool car. And the EMV Team is thrilled to be recognized in this way too.

I have been thoroughly testing the SOLO chassis on the streets and on closed courses over the past several weeks. I have even had a few professional race car drivers put the SOLO chassis through it’s paces, with glowing reports. The brakes are incredible. The ride is smooth, the handling is crisp, and the power is robust without being crazy. And there is something sublime going on with the ride of this car, which is as hard to put into words as the feeling that champagne bubbles give to your tongue. When you drive SOLO, you’ll know what I mean and I challenge you to articulate it! $500 from me to the person who nails it!!

If you have your SOLO reserved, I thank you for your order, support and interest in making a change to the roads of the world. If you’re still just thinking about it, go online and put in your refundable $250 now. I have a feeling that our online order system is going to explode during our September 9th launch, as the media picks up on the story. I have a personal expectation number of SOLO orders that I want to see after our September 9, 10 and 11 weekend, but I’ll tell you what it is afterwards.

If you’ve been sitting on a deposit for some other car that hasn’t yet arrived, and there are many of you in the United States, please email us a copy of your reservation today, and we’ll put you in line for a SOLO and honour your deposit as a discount for up to $1,000.00 It seems like both a fair and proper way to get people onto Team SOLO. Finance rates have been quoted to us as around $75 bi-weekly, which is amazing, especially if you consider that you’re not buying/burning gas anymore!

Who’s excited?!

Sincerely,

Jerry Kroll, CEO