ElectraMeccanica (NASDAQ:SOLO) Vehicles Corp has said that, further to its statement of February 23, 2022, it would like to clarify that the party that is in advanced discussions with the company on a potential order for 20 SOLO Cargo EVs is actually Pelican Food Concepts, which is a franchisee of Mountain Mike's Pizza, and not Mountain Mike's Pizza, LLC, the franchisor and brand, itself.
Further, the company added, while Pelican Food Concepts has agreed to be an initial test, reference and market validation account for ElectraMeccanica, provided that the SOLO Cargo EV vehicles meet its pizza delivery specifications for cost and performance in initial trials, an actual order for 20 vehicles has not yet been formally contracted between the parties.
The parties believe, however, that an order for 20 vehicles (or a comparably sized order), will be placed once final engineering and production of the vehicles occur, which is expected early in the third quarter of this year.
In a statement, Kevin Pavlov, CEO of ElectraMeccanica commented: "Pelican Food Concepts is a great example of the perfect use case for our innovative SOLO Cargo EV in fleet applications. The food-delivery space is growing rapidly, and for those restaurants that handle some or all of their deliveries in-house, cost and efficiency are paramount concerns. The SOLO Cargo EV is expected to directly address the growing need for a scalable delivery solution while also helping businesses and restaurants enhance their profitability in food delivery."
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Phillip Dade, a representative of Pelican Food Concepts added: "We are truly excited about the prospect of becoming one of the first customers for ElectraMeccanica's SOLO Cargo EV units. It makes a lot of sense for our business needs and the food-delivery part of our restaurant model. We feel this unique EV fits well with our sustainability goals as a franchise owner and equally as important it could further enhance our bottom line profitability."
Given its right-sized capabilities, ElectraMeccanica said the SOLO Cargo creates an ideal price point in the market for restaurants that handle their own in-house deliveries. The SOLO Cargo is expected to offer a low total cost of ownership alternative, which incorporates an attractive vehicle acquisition price point, along with lower ongoing maintenance requirements and lower annual insurance premiums. Additionally, the SOLO and SOLO Cargo is expected to support those businesses looking to reduce their carbon footprint by transitioning to an electric vehicle and downgrade their oversized traditional gas-powered fleet vehicles.
ElectraMeccanica Vehicles 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 SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility.
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 also 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 for the consumer model and $24,500 for the delivery-oriented SOLO Cargo model, which features an expanded cargo box to accommodate a wide variety of fleet and commercial applications.
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