Electric Car Company, Electrameccanica Vehicles Corp. (NASDAQ:SOLO), is launching their disruptive Electric Car the “SOLO” with a $15,500 USD price point.
Wall Street hasn’t caught up with this ground breaking company yet, so be sure to add (NASDAQ:SOLO) to your portfolio before the price per share jumps drastically (NASDAQ:SOLO has a median price target of $5.00/share which you can review directly on NASDAQ’s page by clicking here)
The SOLO is a well designed and styled Electric Vehicle that is poised to completely disrupt, not only the electric car market, but the entire car market. The SOLO is an affordable, well styled electric vehicle that everybody can afford. Even the major car manufactures can not compete with the price, performance and slick styling of the SOLO. How they are able to produce this car at such a low price, is due to their partnership with Zongshen Automobile Co., one of China’s largest manufacturers of vehicles (producing over 2,000,000 units annually). Combined with Electrameccanica’s 60 years of car building experience and their world class executive team, Electrameccanica is the one to watch in this sector that is experiencing explosive growth worldwide.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO) as of December 2018 had pre-orders totalling over $357,000,000 USD for their SOLO model.
Recently featured in Forbes in an article dubbed “Here Are The Coolest News Cars For 2020”, The Electrmeccanica SOLO truly has a major edge over all of it’s electric car competitors at a fraction of the cost. READ THE FORBES ARTICLE HERE
Meet the Market’s Lowest Cost Electric Vehicle
Initial Launch in Los Angeles
California is the perfect launch location for the SOLO, as the state has implemented massive subsidies and investment in charging infrastructure for EV adoption. At the $15,500 USD price tag, California buyers could receive up to $12,000 USD in tax incentives for the SOLO—a whopping 77% discount with government subsidies!! The SOLO could end up costing only $3,500 after tax incentives and subsidies. This price point is a gamechanger in the industry and will change the entire automotive market forever.
Henry Ford made Ford Motors the largest car company in the world and changed the face of America, by manufacturing a car that every person could afford. The “Model T” in 1925 cost only $360, which is $4,300 in todays dollars. The SOLO is the modern day “Model T” that everyone can afford AND its electric, so its good for the environment and cheap to run.
Watch this short video to see the Electrameccanica SOLO in action
Just the beginning
Electrameccanica Vehicles Corp. (NASDAQ:SOLO) has another car in development, the Tofino, an all-electric two-seat exotic sports car priced at $50,000. The excitement around this new sports car has been over whelming. Electrameccanica has received over 41,000 orders for the Tofino totalling over Two Billion USD.
Eye catching with its unique three-wheeled, single-seat design, the game-changing EV currently has another advantage that even the majors can’t currently touch—its price.
Overseas Manufacturing Advantage
Electrameccanica with its Chinese manufacturing facility can scale production and achieve fantastic price points and margins for the company. Industry leader Tesla Motors has already stated its need for Chinese manufacturing in order to meet its goals. “Bottom line is we need the Shanghai factory to achieve that,” said Musk. Electrameccanica is already there and for good reason.
This industry-leading partnership with the Chinese manufacturing partner reduces production risk for Electrameccanica, while accelerating production, and notably minimizes capital expenditures. The economics of this partnership are clear, with scaled gross margins expected in the ~25% range.
Electrameccanica and Zongshen together have already constructed the SOLO manufacturing line and signed contracts to produce 75,000 vehicles over a three-year period, with initial deliveries commencing in 2019. That is a retail value of $1,162,500,000 in sales of the SOLO.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO)
Stock price: ~$1.77 12/03/2019
Market Capitalization: ~$65,788,461
52 Week High/Low: $6.74 – $0.90
CASH in BANK: $16,226,000 Sept/21/2019
ANALYST COVERAGE – STRONG BUY
|7/9/2019||Roth Capital||Initiated Coverage||Buy||$5.00|
Comparable Electric Car Companies
Tesla, Inc. (NASDAQ: TSLA)
Market Cap: $52.516 billion
Recent Headline: Tesla is staking its future on China — here’s what it’s up against
The Nevada-based Tesla Motors gigafactory made headlines over the last few years, as the premiere EV brand name became an American success story. However, the company has recently made clear its intentions to enter the Chinese market, and attempt to compete with foreign and Chinese automakers that are already manufacturing and selling EVs in the country. CEO Elon Musk admits his company won’t be able to produce 10,000 Model 3 electric sedans per week, as originally aimed. Ahead of Musk’s company, Electrameccanica has ramped up production at a new Zongshen factory, for both its SOLO and Tofino models.
Kandi Technologies (NASDAQ: KNDI)
Market Cap: $276.77 Million
Kandi Technologies Group, Inc., through its subsidiaries, designs, develops, manufactures, and commercializes electric vehicle (EV) products and parts and off-road vehicles in the People’s Republic of China and internationally. It offers off-road vehicles, including go-karts, all-terrain vehicles, utility vehicles, and other vehicles for sale to distributors or consumers; and EV parts comprising battery packs, EV drive motors, EV controllers, air conditioners, and other electric products.
NIO Inc. (NYSE: NIO)
Market Cap: $1.461 billion
NIO Inc. designs, manufactures, and sells electric vehicles in the People’s Republic of China, Hong Kong, the United States, the United Kingdom, and Germany. The company offers five, six, and seven-seater electric SUVs. It is also involved in the provision of energy and service packages to its users; marketing, design, and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities.
BYD Company Limited (OTC: BYDDF)
Market Cap: $15.5 billion
BYD Company Limited, together with its subsidiaries, engages in the rechargeable battery and photovoltaic, handset components and assembly, and automobile businesses worldwide.