It’s Official. The New Red Solo EV Is Awesome!

Beautiful machine with a lady driving. All they need to do now is start shipping them to consumers. I’m ready.

About Robert Pogson

I am a retired teacher in Canada. I taught in the subject areas where I have worked for almost forty years: maths, physics, chemistry and computers. I love hunting, fishing, picking berries and mushrooms, too.
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8 Responses to It’s Official. The New Red Solo EV Is Awesome!

  1. Grece wrote, “You do realize that the Elio, was to be sold at 1/3 the cost, got better gas mileage, had better range and still did not take off. They never sold one single unit, and people lost their down payments.”

    Well, bad things do happen. Grow up. Elio got the cart before the horse, building out before production started. EM is ramping things up in a more controlled manner. EM is optimistic but not foolhardy.

    “this three-wheeler is classified as a “motorcycle”, if not, then it must go you crash testing certification. With it being certified as a “motorcycle” then you as a driver are required to wear a helmet. Who is going to wear a helmet? Will you??”

    In Canada, there is a category of “three wheeled vehicle”. Here, Solo is not a motorcycle on the national level. In USA some states class trikes as motorcycles. Others do not. In Canada the distinction is that the driver sits in a proper seat not astride the thing. See “handle bars” and “enclosed motorcycle” (650mm minimum seat height). There is an outfit making a trike with two seats but not enclosed. They advertise their machine as a motorcycle. Not sure why that is unless their market is bikers. Solo’s market is commuters although I believe retired folks and folks doing local errands also fit. Clearly, people are driving Solos without helmets… Clearly, anyone who can drive a four-wheeled gas-guzzler can operate a Solo with zero training. OK, maybe they should RTFM, but they don’t need to lean into curves or balance the machine. They don’t need to use hand-controls for speed and foot-controls for shifting gears. There aren’t any gears in a Solo.

    There will be crash-testing.

  2. Grece says:

    You do realize that the Elio, was to be sold at 1/3 the cost, got better gas mileage, had better range and still did not take off. They never sold one single unit, and people lost their down payments.

    With that said, this three-wheeler is classified as a “motorcycle”, if not, then it must go you crash testing certification. With it being certified as a “motorcycle” then you as a driver are required to wear a helmet. Who is going to wear a helmet? Will you??

  3. Grece wrote, “This crap reminds me of Kickstarter, but on a much larger scale.”

    Wonder why they use private placements now? It’s because they have not an IPO but are just a private corporation. Nevertheless, folks are piling up trying to get in on the ground floor. There is no shortage of cash as they open up new shops and get everything in place. Once they start production they will have revenue to cover debts, increase production, pay people… That’s how businesses start. Now, I agree, a lot of start-ups fail but these guys do have ~10 machines in operation with licence plates valid in BC, Canada. They are ready to go. Can they make money at $20K per unit? I think so. Say, $5K for parts and $5K for labour. They get ~$10K cash flow per machine. They can probably stay afloat building a few per week. They are ready to make that happen shortly. Later this year, production will ramp up in China. Then they will have all the cashflow they want if the sales people do their thing. At the moment, the specs and price are doing all the work. Once units get into the market there will be a lot more noise on my blog and other forums. They have limited costs well enough so far to keep going. They have good reason to expect profits in the coming year. It’s a good plan.

    The thing is the product is unique at least in my part of the world. It does cover an important need in many places. It will sell. No doubt the price could come down if competition floods the market in a few years but I don’t see much sign of that except perhaps two-seaters. The Solo will be first to market and I see no reason it should not fly. If they do happen to fail, I hope I get mine first. I expect it will last a long time and be serviceable except for the body and perhaps the control-system. The body might require Duct Tape™ to repair. Most of the other parts are pretty standard. I promise to take care of mine.

    Oh, BTW, that other stuff is “boiler-plate”. See M$’s SEC filings:“We may not achieve significant revenue from new product, service, and distribution channel investments for several years, if at all. New products and services may not be profitable, and even if they are profitable, operating margins for some new products and businesses will not be as high as the margins we have experienced historically.”

  4. Grece says:

    Would you want a sales department that did not drive the Solo selling it?

    That’s the most ignorant thing I have ever read. They already have those, your local Ford dealer has vehicles on the showroom, that they do not drive to sell said vehicle, but you can drive one right off the lot.

    They are already backlogged by hundreds of deposits so they don’t need a large marketing team yet but they are preparing to ramp up production and sales no doubt. It’s all good.

    Yes no doubt, on negative cash flow, no IPO and wanting 3M USD in funding for 2017. Those are not my words, but ELECTRAMECCANICA VEHICLES CORP. filings.

    Lets see.

    Risks Related to our Business and Industry

    We have a limited operating history and have not yet generated any revenues.

    Our limited operating history makes evaluating our business and future prospects difficult, and may increase the risk of your investment. We were formed in February 2015 and we have not yet begun producing or delivering our first vehicle. To date, we have no revenues. We intend in the longer term to derive substantial revenues from the sales of our SOLO vehicle and other intended elective vehicles. The SOLO is in development, and we do not expect to start delivering to customers until the end of the first quarter or early second quarter of 2017. The SOLO vehicle requires significant investment prior to commercial introduction and may never be successfully developed or commercially successful.

    We currently have negative operating cash flows and if we are unable to generate positive operating cash flows in the future our viability as an operating business will be adversely affected.

    We have made significant up-front investments in research and development, sales and marketing, and general and administrative expenses in order to rapidly develop and expand our business. We are currently incurring expenditures related to our operations that have generated a negative operating cash flow. Operating cash flow may decline in certain circumstances, many of which are beyond our control. There is no assurance that sufficient revenues will be generated in the near future. Because we continue to incur such significant future expenditures for research and development, sales and marketing, and general and administrative expenses, we may continue to experience negative cash flow until we reach a sufficient level of sales with positive gross margins to cover operating expenses. An inability to generate positive cash flow until we reach a sufficient level of sales with positive gross margins to cover operating expenses or raise additional capital on reasonable terms will adversely affect our viability as an operating business.

    We will need a significant amount of capital to carry out our proposed business plan, and unless we are able to raise sufficient funds we may be forced to discontinue our operations.

    In order to carry out our proposed business plan to develop, manufacture, sell and service electric vehicles, we will require a significant amount of capital. We estimate that we will need approximately $2.94 million to finance our planned operations for the next 12 months.

    We will not receive the proceeds of this offering other than from the shares of common stock that may be offered for sale by the Selling Securityholders under this prospectus that are issuable upon exercise of warrants.

    We intend to raise our cash requirements for the next 12 months through the sale of our equity securities in private placements, through shareholder loans or possibly through a registered public offering (either self-underwritten or through a broker-dealer). If we are unsuccessful in raising enough money through such capital-raising efforts, we may review other financing possibilities such as bank loans. At this time we do not have a commitment from any broker-dealer to provide us with financing. There is no assurance that any financing will be available to us or if available, on terms that will be acceptable to us. We intend to negotiate with our management and consultants to pay parts of their salaries and fees with stock and stock options instead of cash.

    Our ability to obtain the necessary financing to carry out our business plan is subject to a number of factors, including general market conditions and investor acceptance of our business plan. These factors may make the timing, amount, terms and conditions of such financing unattractive or unavailable to us. If we are unable to raise sufficient funds, we will have to significantly reduce our spending, delay or cancel our planned activities or substantially change our current corporate structure. There is no guarantee that we will be able to obtain any funding or that we will have sufficient resources to conduct our business as projected, any of which could mean that we will be forced to discontinue our operations.

    This crap reminds me of Kickstarter, but on a much larger scale.

  5. DrLoser wrote, “I would give more credence to an individual who chooses (and personally pays for) Product X than I would to an individual who does not choose Product X, and yet is paid to use Product X in public.”

    Canadians are kind generous people. Perhaps she’s trying out the car because she’s curious and it’s on her lunch hour/weekend/after hours…

    The video, whatever its limitations shows an actual human fits inside. With my calibre of belly, that’s a real issue. Besides, I think the car looks absolutely lovely, aerodynamic, shiny, low to the pavement, and the wheels are round. In the video you can see the steering wheel and some of the controls nicely. I like that. Everything is simple and within reach. If she can turn the thing on, I’m sure I can. I’d still like to see how she steps over the battery compartment at the sides. I estimate one has to lift the foot about 12 inches/30.5cm. I can do that. How to get a trailing foot past the door and seat is another matter. I think I would be better off stepping across the seat rather than trying to pass by it. I can only dream of that until I’m at arm’s length of a Solo. Next year maybe.

  6. DrLoser says:

    Would you want a sales department that did not drive the Solo selling it?

    Let me put it this way, Robert.

    I would give more credence to an individual who chooses (and personally pays for) Product X than I would to an individual who does not choose Product X, and yet is paid to use Product X in public.

    I don’t care whether Product X is expensive, cheap, or even free. I don’t care whether Product X is a plastic tricycle or a naff OS like Debian.

    And I most certainly do not care what said individual does for a living. I do not care whether they work for the company in question. I see no reason to distinguish between the role of a sales-droid/marketroid and a toilet cleaner. And neither would any other sane person make this distinction.

    Shall we re-hash your remarkably inept argument on this one?

  7. Grece wrote, “Social Media Marketer”.

    I agree she’s probably from the “marketing” department but I doubt anyone is limited to social media in that department. After all they’ve opened two or three display stations showing the product to real people and accepting real deposits. Would you want a sales department that did not drive the Solo selling it? I, for one, have decided to buy a Solo and I’m hungry for as much information as I can get, videos/stills/numbers are all welcome and I don’t care who supplies those numbers. They are already backlogged by hundreds of deposits so they don’t need a large marketing team yet but they are preparing to ramp up production and sales no doubt. It’s all good.

  8. Grece says:

    Ugly machine driven by a “Social Media Marketer”, *rolls-eyes*. Yes, all they need to do is ship the first one, just the first one!

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