ElectraMeccanica Solo electric single-seater to be built in Arizona.

ElectraMeccanica Announces U.S. Base of Operations in Arizona

The Company's selection marks the end of a comprehensive, year-long site search conducted by ElectraMeccanica and its partner, BDO USA’s Site Selection & Incentives Practice (“BDO”).


SOURCE: ElectraMeccanica

VANCOUVER, British Columbia, March 16, 2021 ? ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) ("ElectraMeccanica" or the "Company"), a designer and manufacturer of electric vehicles, today announced that it has selected Mesa, AZ, in the greater Phoenix area, for its U.S. based assembly facility and engineering technical center. Phoenix ranks as the fifth largest city in the U.S. according to 2020 census data, with nearly 1.8 million residents. Mesa, a suburb of Phoenix, ranks 35th nationally. The Company''s selection marks the end of a comprehensive, year-long site search conducted by ElectraMeccanica and its partner, BDO USA''s Site Selection & Incentives Practice ("BDO").

Since late February 2020, the Company has been engaged in a nationwide review of potential locations that matched ElectraMeccanica''s technical and workforce criteria. BDO initially identified seven candidates and sent requests for proposals to the chief economic development entities and local authorities in each state who in turn responded with detailed bids. In June, following comprehensive reviews and site visits, the Company narrowed the candidate list to five. In August, the list was further narrowed to three states and in October, the Company named Arizona and Tennessee as the two finalist states. The last few months of the selection process involved rigorous proposal reviews and negotiations to select the most well-suited partner.

The proposed facility in Mesa will support ElectraMeccanica''s strategic plan to meet anticipated demand for their flagship SOLO EV. When fully operational, the facility is expected to create up to 500 new jobs and will be capable of producing up to 20,000 SOLOs per year. Altogether it will feature both a light vehicle assembly plant along with a state-of-the-art engineering technical center, including multiple labs to support comprehensive research facilities as well as vehicle chassis, battery pack and power electronics testing workshops. ElectraMeccanica also expects this new facility to generate second order effects that will positively impact the local and state economies. In addition to strong consumer interest in the SOLO EV, the Company has seen growing interest in commercial fleet and utility applications. Beyond working to address commuting and traffic congestion challenges in the region, the Company intends to work with local municipalities to initiate a future pilot SOLO share ecosystem in the Mesa and the greater Phoenix region. Plans for this program will be forthcoming.

"I want to thank Governor Ducey, his team, the state of Arizona and everyone who''s been involved in this process for helping to bring ElectraMeccanica''s U.S. operations to life," said Company CEO Paul Rivera. "This decision is monumental for our business and will be transformative for our host city and state. When fully operational, we anticipate creating hundreds of new jobs for the local economy. We believe Mesa''s population size and density provides a great talent pool as we look forward to contributing to the growing high-tech environment."

"Arizona is thrilled to be selected as the home of ElectraMeccanica''s first U.S.-based assembly facility and engineering technical center," said Governor Doug Ducey. "Arizona has fast become the electric vehicle center of America thanks to our robust and growing workforce, vibrant innovation ecosystem, and ideal business environment. My thanks to ElectraMeccanica, the Arizona Commerce Authority, the City of Mesa and all involved in bringing this exciting project to Arizona."

"We couldn''t be more excited to welcome ElectraMeccanica to Arizona as the latest electric vehicle innovator to choose our state," said Sandra Watson, President and CEO of the Arizona Commerce Authority. "No other state in the country provides a better environment for ElectraMeccanica to scale its leading-edge technology, and we look forward to continuing to be a partner in the company''s long-term success."

Tom Stringer, Leader for the National Site Selection & Business Incentives Practice, BDO USA, added, "This has been an extraordinary economic development project that proves Arizona''s strategic high-tech investments are bringing jobs and major capital investments from cutting-edge companies that directly benefit Arizona taxpayers. This project will mean so much to the EV and shared mobility community, and we look forward to announcing more details at a later date. For now we wish to especially thank the Arizona Commerce Authority''s Sandra Watson, Brad Smidt of the Greater Phoenix Economic Council, the City of Mesa''s Lori Collins, Kevin Cosca at CBRE, the Reef Group''s Blake Garrett and Marwest Enterprises'' David Martens for their help bringing all the pieces together."

"Southeast Mesa is growing, and we''re excited to welcome dynamic and innovative businesses like ElectraMeccanica," said Mesa Mayor John Giles. "I''m looking forward to watching their state-of-the-art facility take shape."

"ElectraMeccanica''s decision to make a significant foreign direct investment and anchor its North American operation in Greater Phoenix showcases the region''s ability to meet the needs of the high-tech industry," said Chris Camacho, President & CEO of the Greater Phoenix Economic Council.

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 here.

First Published: 2021-03-16

Pages Viewed: 629

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