ElectraMeccanica Announces Cost Reduction Initiatives to Streamline and Accelerate Onshore Manufacturing

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Dec 23, 2022

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, today announced cost-reduction initiatives to further streamline the business in order to better consolidate onshore manufacturing capabilities and operations at its newly-commissioned Mesa, Arizona headquarters. These steps will accelerate the Company’s path to profitability, by imposing a new level of fiscal discipline that preserves the ability to commercialize and scale operations while also eliminating excess costs.