After a nationwide review of potential locations that matched ElectraMeccanica’s criteria, BDO has identified seven states as finalists and sent initial request for proposals to the chief economic development entities in each of Arizona, Colorado, Florida, North Carolina, South Carolina, Tennessee and Texas. The leading location and backup sites are expected to be announced in the third quarter of 2020.
ElectraMeccanica intends to maintain a capital-light model and begin commercial production and delivery of its flagship, single-seat, three wheeled SOLO EV during 2020 with its contract manufacturing partner and strategic investor, Zongshen Industrial Group (Zongshen), in Chongqing, China. In conjunction with the proposed new ElectraMeccanica U.S. facility, Zongshen will continue to manufacture SOLO EVs for the global market, while also supplying knock-down kits for assembly in the United States.
The proposed new U.S. facility is expected to employ up to 200 people and feature a state-of-the art engineering technical center. Collectively, the operation would be expected to meet the growing demand for SOLO EVs throughout the United States, where EVs are expected to exceed more than 30% of all passenger vehicles by 2040. In addition, the proposed new U.S.-based facility would allow ElectraMeccanica to reduce or potentially eliminate tariffs, as well as benefit from logistical efficiencies.
Paul Rivera, CEO of ElectraMeccanica, said, “This strategic initiative will not only allow us to limit uncertainties in the global supply chain, but also grow our talent pool of engineering resources and seize the tremendous market opportunities in the USA.”
Sleek, maneuverable and environmentally friendly, the three-wheeled SOLO redefines the mobility space, offering a trendy, fun and safe vehicle that will solve many of the challenges of urban driving. The vehicle is also ideal for the exponentially growing commercial fleets that have a single occupant making deliveries of their merchandise, as well as ride share companies looking to offer a sleek option for individuals driving alone.
Leader for the National Site Selection & Business Incentives Practice, BDO USA, Tom Stringer, said, “We are delighted to have been selected by ElectraMeccanica to assist them in finding the ideal U.S. location that will serve as a partner for this strategic expansion. The company offers a unique mobility solution that’s exciting and incomparable to other EV companies.”
