The Solo Stock is at an all-time high and is gaining more attention than ever. This has a lot to do with the growth in the urban commuter population. The company has a pilot program with a major fast-food company. The product line is going to be targeting the urban commuter market.
Electra Meccanica’s Solo stock product line has a lot going for it. The company produces the most stylish and sexiest electric vehicles on the market and is launching a new model soon. The company is also expanding its physical sales footprint to locations across the country. Its latest product line is the most potent and capable electric vehicle. Its latest model will be available in mid-2020. As the company expands its reach, the number of cars on its roster will rise significantly. In addition, the company plans to build a factory in Mesa, Arizona, in the next few years. The company’s CEO, Brian Kwong, is confident that the company will be a significant player in the electric vehicle space by the decade’s end.
Target urban commuters
Electra Meccanica Vehicles Corp (EMC) is a development-stage electric vehicle company whose products are aimed at the personal and fleet markets. Its flagship product is the SOLO EV, a single-seat EV designed for urban commuters. The company also manufactures unique all-electric vehicles. Its reportable business segments include electric cars for mass markets, custom-built vehicles, and high-end vehicles. The company’s business strategy is focused on positioning its products as rivals to the Mini Cooper and Tesla Model 3.
The SOLO EV is designed for the modern urban environment. It has two wheels at the front and a single wheel at the back. It offers space for a single passenger and has torque-limiting stability control. It has a low price of $18,500. It also has a roll bar and side impact protection.
Electra Meccanica is preparing to build a US-based Solo stock assembly facility in Mesa, Arizona. The proposed facility will be 235,000-square-foot, allowing the company to produce 20,000 vehicles per year.
The proposed facility will support the company’s strategic plan to increase production and retail sales. It will also help the company simplify logistics in the North American market.
During the search for an assembly facility, the company narrowed its potential sites to seven states. It began vetting candidates in February 2020. By November, Electra Meccanica will announce its final decision. In the meantime, the company is working with consulting firm BDO USA LLP on the site selection process.
The new facility is expected to break ground in May 2021. It will be located at 8127 East Ray Road in Mesa, Arizona and include a state-of-the-art engineering technical center and light vehicle assembly plant. The facility will employ 500 workers. It will also have multiple labs, including one dedicated to battery pack testing.