UNITED STATES
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FORM
CURRENT REPORT
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Item 7.01 | Regulation FD Disclosure |
News Release
On April 14, 2023, ElectraMeccanica Vehicles Corp. (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, provided an update on its previously announced safety recall for the SOLO (G3/G2), model years 2019, 2021-2023. Approximately 429 vehicles are involved in this recall.
While driving, the vehicle may experience a loss of propulsion. An instrument cluster warning light illuminates, and the driver will experience a loss of power as the vehicle decelerates as if removing their foot from the accelerator pedal. Steering, braking, and lighting systems are not impacted. The vehicle can be restarted after a short period of time. In the event of sudden loss of propulsion, the vehicle maintains all other critical functionality including power steering, braking, and lighting, and in most instances allows the driver to pull over. However, due to the unexpected loss of propulsion, there may be an increased risk of crash.
The recall remedy available is vehicle repurchase (buyback), for the full price paid including taxes, fees and shipping. ElectraMeccanica will work directly with customers to complete the vehicle repurchase process, free of charge. Reservation holders will be issued a refund.
For further comment, see https://ir.emvauto.com/Quality-and-Safety-Update.
CEO Letter
Quality and Safety Update
Having worked diligently since initiating a voluntary recall on February 17, 2023 of our SOLO (G3/G2) to investigate a possible loss of propulsion in 2019, 2021-2023 models, ElectraMeccanica today announced we would remedy the issue with a buyback.
You can find general information on this remedy in today’s news release https://ir.emvauto.com/Electrameccanica-Updates-Voluntary-Recall-of-Solo-G3-and-G2-Announces-Buyback-Remedy. Customers will be contacted directly with regard to their specific buybacks, as ElectraMeccanica continues to operate in full compliance with NHTSA regulations.
We look forward to working with our customers to ensure this is as smooth a process as possible.
We urge any customers who have questions or notice any issues whatsoever to contact our Customer Service Line at 1-855-524-6693; or email at recalls@electrameccanica.com or submit information via the following form: https://recal-form.vercel.app/.
Sincerely,
Susan E. Docherty, ElectraMeccanica CEO
- 2 -
A copy of the News Release is attached as Exhibit 99.1 hereto, and a copy of the CEO Letter is attached as Exhibit 99.2 hereto.
Item 9.01 | Financial Statements and Exhibits |
(d) | Exhibits |
Exhibit | Description | |
99.1 | News Release dated April 14, 2023. | |
99.2 | CEO letter dated April 14, 2023. | |
104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ELECTRAMECCANICA VEHICLES CORP. | ||
DATE: April 14, 2023 | By: | /s/ Michael Bridge |
Michael Bridge | ||
General Counsel and Corporate Secretary |
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Exhibit 99.1
ELECTRAMECCANICA UPDATES VOLUNTARY RECALL OF SOLO G3 AND G2, ANNOUNCES BUYBACK REMEDY
MESA, AZ, April 14, 2023 (BUSINESSWIRE) – Today, ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, provided an update on its previously announced safety recall for the SOLO (G3/G2), model years 2019, 2021-2023. Approximately 429 vehicles are involved in this recall.
While driving, the vehicle may experience a loss of propulsion. An instrument cluster warning light illuminates, and the driver will experience a loss of power as the vehicle decelerates as if removing their foot from the accelerator pedal. Steering, braking, and lighting systems are not impacted. The vehicle can be restarted after a short period of time. In the event of sudden loss of propulsion, the vehicle maintains all other critical functionality including power steering, braking, and lighting, and in most instances allows the driver to pull over. However, due to the unexpected loss of propulsion, there may be an increased risk of crash.
The recall remedy available is vehicle repurchase (buyback), for the full price paid including taxes, fees and shipping. ElectraMeccanica will work directly with customers to complete the vehicle repurchase process, free of charge. Reservation holders will be issued a refund.
For further comment, see https://ir.emvauto.com/Quality-and-Safety-Update.
About ElectraMeccanica Vehicles Corp.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a designer and manufacturer of environmentally efficient electric vehicles (EVs) that will revolutionize the urban driving experience, including commuting, delivery and shared mobility. The Company recently commissioned its state-of-the-art 235,000 square foot manufacturing facility in Mesa, Arizona to produce and assemble electric vehicles for both ElectraMeccanica and other manufacturers.
Safe Harbor Statement
This press release and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws and applicable Canadian laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgement about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of important factors, many of which are described in our most recent Annual Report on Form 20-F or Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.
# # #
Exhibit 99.2
Quality and Safety Update
Having worked diligently since initiating a voluntary recall on February 17, 2023 of our SOLO (G3/G2) to investigate a possible loss of propulsion in 2019, 2021-2023 models, ElectraMeccanica today announced we would remedy the issue with a buyback.
You can find general information on this remedy in today’s news release https://ir.emvauto.com/Electrameccanica-Updates-Voluntary-Recall-of-Solo-G3-and-G2-Announces-Buyback-Remedy. Customers will be contacted directly with regard to their specific buybacks, as ElectraMeccanica continues to operate in full compliance with NHTSA regulations.
We look forward to working with our customers to ensure this is as smooth a process as possible.
We urge any customers who have questions or notice any issues whatsoever to contact our Customer Service Line at 1-855-524-6693; or email at recalls@electrameccanica.com or submit information via the following form: https://recal-form.vercel.app/.
Sincerely,
Susan E. Docherty, ElectraMeccanica CEO
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