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Electra Meccanica corrects announcement of SOLO cargo fleet order for about 20 units, Canadian Business Journal

Vancouver, British Columbia, March 4, 2022 (GLOBE NEWSWIRE) — ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or “Company”) is an electric vehicle designer and company that will revolutionize the driving experience of the city. The manufacturer. Amending a previous statement on February 23, 2022, the party pre-discussing with the company about potential orders for 20 SOLO Cargo EVs is actually Pelican Food Concepts, Mountain Mike’s Pizza. Clarify that it is a franchise of, not Mountain. Franchisor and brand Mike’s Pizza, LLC itself.

In addition, Pelican Food Concepts has agreed to be an account for Electra Meccanica’s initial testing, reference, and market validation, but if the SOLO Cargo EV vehicle meets the pizza delivery specifications for cost and performance in the initial testing. The actual order for 20 vehicles is not. It is still formally contracted between the parties. However, both parties believe that once the final engineering and production of the vehicle takes place, an order for 20 vehicles (or an order of equivalent size) will be placed. This is scheduled for the beginning of the third quarter of this year.

“We are really excited about the prospect of becoming one of the first customers of Electra Meccanica’s SOLO Cargo EV unit. It makes a lot of sense for our business needs and the food delivery part of our restaurant model. “It’s done,” said Philip Dade, the head of the Pelican Food Concept. “This unique EV fits well with our sustainability goals as a franchise owner and, equally importantly, we believe it can further increase profitability.”

Given its well-sized features, SOLO Cargo creates the ideal price range on the market for restaurants that handle their own deliveries. SOLO Cargo is expected to keep total cost of ownership low by keeping ongoing maintenance requirements and annual premiums low, in addition to attractive vehicle acquisition prices. In addition, SOLO and SOLO Cargo are expected to support companies seeking to reduce carbon dioxide emissions by moving to electric vehicles and downgrading large traditional gas-powered vehicles.

Kevin Pavlov, CEO of Electra Meccanica, said: Food delivery space is growing rapidly, and cost and efficiency are of paramount concern to restaurants that process some or all of their deliveries in-house. SOLO Cargo EV is expected to help businesses and restaurants increase the profitability of food delivery while directly addressing the growing need for scalable delivery solutions. “

ElectraMeccanica may have duplicated the February 23, 2022 news release from a third-party media site based on this amended news release, removing such news releases and misrepresenting them as necessary. Request a fix.

Electra Meccanica Vehicles Corp.about

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of eco-efficient electric vehicles (EVs). The company’s flagship vehicle is an innovative dedicated single-seat EV. solo.. This tricycle will revolutionize the city’s driving experience, including commuting, delivery and shared mobility. Designed for a single occupant, it provides an environmentally friendly consumer with a unique driving experience. The solo With a cruising range of 100 mph and a top speed of 80 mph, it is safe on the highway. The solo It also features front and rear crushable zones, side collision protection, roll bars, torque limit control, power steering, power braking, air conditioning and a Bluetooth entertainment system.

It combines a modern look with safety features at an affordable price of $ 18,500 for consumer models and $ 24,500 for delivery-oriented models. solo A cargo model with an expanded cargo box to accommodate a variety of fleet and commercial applications. The solo You can now order from here. For more information, please visit www.electrameccanica.com.

Investor spokesperson
MZ Group
(949) 259-4987
SOLO@mzgroup.us

Spokesperson
Amy Pandia
R & CPMK
(310) 967-3418
amy.pandya@rogersandcowanpmk.com

Safe harbor statement

Except for the historical facts contained in this document, the information contained in this news release constitutes the “forward-looking statements” used in applicable US and Canadian securities laws. These statements relate to forecasting future outcomes, estimates of undecided amounts, and management’s hypothetical analysis and other information. Statements that express or include expectations, expectations, beliefs, plans, predictions, objectives, assumptions, or discussions about future events or performance (although not always, often, but often, “expect”, “estimate”, “project”. , “Expect”, “Think”, “Intention”, “Believe”, “Plan”, “May”, “Do”, or their negative words, or other equivalent words) Should be viewed as follows, rather than a statement of historical facts. “Description of future prospects”. Such forward-looking statements include known and unknown risks, uncertainties, and other factors, and our actual results, performance, or performance may be in accordance with such forward-looking statements. It may differ materially from future results, performance, or performance expressed or implied. These risks and other factors include, among other things, the price of other electric vehicles, the costs associated with manufacturing the vehicle, the availability of capital to fund business plans, and the capital from the sale of shares. Includes procurement-induced dilution, electric vehicle markets, changes in government regulations, development of alternative technologies, inexperienced electric vehicle maintenance, labor disputes, and delays in obtaining government approval and / or certification. Other risks in the electric vehicle industry, not limited to these. We have sought to identify significant factors that may cause actual actions, events or outcomes to differ materially from those described in the forward-looking statements, but the actions, events or outcomes are expected, estimated, or results. It was intended. Actual results and future events may differ materially from those expected in such statements and there is no guarantee that such statements will be proven to be accurate. Therefore, readers should not place excessive reliance on the forward-looking statements contained in this news release and the documents referred to in this news release. Forward-looking statements are based on management’s beliefs, estimates, and opinions on the day of the statements, and we believe that these beliefs, estimates, opinions, or other circumstances may change. , Applicable method. Such forward-looking statements reflect our current views on future events and are outlined in the latest financial statements and reports and registration notifications filed with the US Securities and Exchange Commission. Subject to certain risks, uncertainties and assumptions, including risks and uncertainties. Exchange Commission (“SEC”) (available at www.sec.gov) and Canadian Securities Manager (available at www.sedar.com). We believe that the beliefs, plans, expectations and intent contained in this news release are reasonable, but there is no guarantee that those beliefs, plans, expectations or intents will be proven to be accurate. Investors should consider all the information contained here. You should also refer to the risk factors disclosed in our periodic reports submitted to the SEC from time to time. This news release does not constitute an offer to sell or purchase our securities, and the sale of these securities in jurisdictions where such offers, solicitations or sales are illegal prior to registration or qualification. It will never be done. Under the securities law of such jurisdiction.


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Electra Meccanica corrects announcement of SOLO cargo fleet order for about 20 units, Canadian Business Journal

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