Electra Meccanica Vehicles Corp is a Canada-based company engaged in automobiles and multi-utility vehicles business sector. The Company is dedicated to the design and manufacture of electric vehicles. The SOLO stock news at https://www.webull.com/quote/nasdaq-solo company is operating in two reportable business segments in Canada, Electric Vehicles and Custom build vehicles. Electric Vehicles segment includes the development and manufacture of electric vehicles for mass markets. The custom build vehicles segment includes the development and manufacture of high-end custom-built vehicles. This company is having designed and built all-electric SOLO, a single-seater electric vehicle. It has also designed the Tofino, electric two-seater roadster set.

Canadian Electric Vehicle Maker CEO

  • The final decision for the location, which will be selected from among Arizona, Colorado, Florida, North Carolina, South Carolina, Tennessee, and Texas. 
  • It will be made by the third quarter of the year,  but company CEO  Paul Rivera, who is based in Phoenix, said talent pool, incentives, and a state’s business climate.
  • It will weigh heavily on the decision. The first of the Solo vehicles were produced in Canada in 2015 and 2016, and now production is planned for China. 
  • They can be preordered, but production for the first vehicles won’t begin until mid-2020 and the first vehicles will be rolled out in Los Angeles in late 2020. 
  • Electra Meccanica (NASDAQ: SOLO) is headquartered in Vancouver, British Columbia.

You Narrowed Down The Search

  • They are started out looking nationwide at all the different states that are appealed to this from a logistics standpoint and an infrastructure standpoint. 
  • The workforce is a mix of talent. They are looking for skilled talent and assembly talent.
  •  The automotive talent out there today is not the same as and it was 10 years ago. 
  • Vehicles are having become software on wheels.

Key Role

  • They are trying to hone in on being able to attract that kind of talent pool and be near a university. 
  • There is already movement here in Arizona of talent in that direction. Waymo, Lucid, Nikola and Carvana all came there and have been pioneers there. 
  • Arizona has been interested in the past for these types of companies to come. 
  • They are looking for a state that is wanting this to be there, so they are looking at which states would be willing to help with incentives. You can also check Nyse arnc news at https://www.webull.com/quote/nyse-arnc .

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