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ElectraMeccanica Announces Initial 20 Unit SOLO Cargo Fleet Order from Mountain Mike’s Pizza
Wednesday, March 2, 2022Company Profile | Follow Company
Vancouver, BC, March 2, 2022--(T-Net)--ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, today announced an initial fleet purchase of 20 SOLO Cargo EVs from Mountain Mike's Pizza, a 40-year old regional pizza chain headquartered in Northern California, with more than 200+ restaurants across California, Arizona, Oregon, Nevada and Utah.
Phillip Dade, Owner of Pelican Food Concepts and Multi Unit Franchisee of Mountain Mike's Pizza in Arizona and Utah, expects to have 65 open locations throughout the two states over the next 12 months.
This partnership with ElectraMeccanica is an opportunity for Mountain Mike's Pizza to lower overall pizza delivery costs spanning over its multi-state restaurant footprint.
"We are truly excited to be one of the first customers to order over 20 SOLO Cargo units. It just makes sense for our business needs and our food-delivery model," said Phillip Dade, Owner of Pelican Food Concepts and Multi Unit Franchisee of Mountain Mike's Pizza. "Before the SOLO, there were very few options for restaurants to become profitable in the delivery space, but the SOLO Cargo is changing all of that. This EV will fit our sustainability goals and ensure end-customer satisfaction, all while maximizing our profits and bottom line."
The SOLO Cargo currently allows space for approximately 15 standard pizza boxes in its 11.8 cubic feet trunk, and operates at an average cost of $.30 per mile (which is roughly 5 times the savings of third-party delivery applications and $.24 per mile savings for those on a driver reimbursement model).
Given its right-sized capabilities, the SOLO Cargo creates an ideal price point in the market to change food delivery space behavior: optimizing those restaurants looking to transition to in-house deliveries or those individuals looking for a low-cost alternative to drive for third-party delivery apps.
Revenue in the US online food delivery segment is projected to reach $66.5 billion by the end of 2022, with an annual growth rate of 9.7%. The SOLO Cargo addresses this niche need within the industry by offering a low total cost of ownership alternative, which incorporates the right vehicle acquisition price point, with little maintenance requirements and lower annual insurance premiums. Additionally, the SOLO and SOLO Cargo supports those businesses looking to reduce their carbon footprint by transitioning to an electric and downgrade their oversized traditional gas-powered fleet vehicles.
Kevin Pavlov, Chief Executive Officer and Director, ElectraMeccanica Vehicles Corp.
Kevin Pavlov, CEO of ElectraMeccanica, added, "Mountain Mike's 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 a solution that enables businesses to be profitable in food delivery was virtually non-existent. The SOLO Cargo EV directly addresses the growing need for a scalable delivery solution while also allowing businesses and restaurants to achieve profitability in food delivery, a true differentiator for our customers."
Mountain Mike's SOLO Cargo order marks the sixth fleet customer for ElectraMeccanica in the food delivery space. Mountain Mike's SOLO Cargo order marks the sixth fleet customer for ElectraMeccanica in the food delivery space.
About ElectraMeccanica Vehicles Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) 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 called the 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. The SOLO is currently available for order here.
Safe Harbor Statements Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. [ MORE ] |
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ElectraMeccanica Vehicles Corp.
Vancouver (CleanTech & Energy)
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