Electra Meccanica Obtains Vehicle Consumer Rebate Designation From California Air Resources Board (CARB)
06 May 2019 - 10:31PM
Electra Meccanica Vehicles Corp. (NASDAQ: SOLO) (“Electra
Meccanica” or the “Company”), a designer and manufacturer of
electric vehicles, today announced that the Company has received
approval to participate in the Clean Vehicle Rebate Project, which
will provide consumers who purchase a new SOLO EV in California
with a $900 per vehicle rebate.
The Clean Vehicle Rebate Project (CVRP) promotes
clean vehicle adoption by offering rebates for the purchase or
lease of new, eligible zero-emission vehicles. As long as funds are
available, eligible California residents can follow a simple
process to apply for a CVRP rebate after purchasing or leasing an
eligible vehicle.
The Center for Sustainable Energy administers
CVRP throughout the state for the California Air Resources Board
(CARB). CARB is a part of the California Environmental Protection
Agency and exists to promote and protect public health, welfare and
ecological resources through the effective and efficient reduction
of air pollutants while recognizing and considering the effects on
the economy of the state. CVRP funding is determined by an annual
funding plan that is developed with public input and approved by
CARB.
“This is a significant milestone for both the
company and consumers throughout California,” explains Jerry Kroll,
CEO of Electra Meccanica. “This rebate approval in California
stands as a testament to California’s leadership in the fight to
curb the effects of climate change while increasing the
affordability of electric vehicles for its citizens. When paired
with the ability to use the carpool lane on California highways,
the SOLO is increasingly becoming a more attractive option for
everyday travel. At a current price point of USD$16,250—which
includes air conditioning—this rebate provides consumers with a
significant cost savings upon purchase, not to mention the
anticipated cost savings when compared to gasoline vehicles. I look
forward to providing further updates on rebate eligibility in other
states as that information becomes available.”
About Electra Meccanica Vehicles
Corp.
Electra Meccanica is a designer and manufacturer
of electric vehicles. The Company builds the innovative,
all-electric SOLO, a single passenger vehicle developed to
revolutionize the way people commute, as well as the Tofino, an
elegant high-performance two-seater electric roadster sports car.
Both vehicles are tuned for the ultimate driving experience while
making your commute more efficient, cost-effective and
environmentally friendly. Intermeccanica, a subsidiary of Electra
Meccanica, has successfully been building high-end specialty cars
for 60 years. For more information,
visit www.electrameccanica.com.
Forward Looking Statements
Some of the statements contained in this press
release are forward-looking statements and information within the
meaning of applicable securities laws. Forward-looking statements
and information can be identified by the use of words such as
“expects”, “intends”, “is expected”, “potential”, “suggests” or
variations of such words or phrases, or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements and information are not historical facts and are subject
to a number of risks and uncertainties beyond the Company’s
control. Actual results and developments are likely to differ, and
may differ materially, from those expressed or implied by the
forward-looking statements contained in this news release.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company undertakes no obligation to
update publicly or otherwise revise any forward-looking statements,
except as may be required by law.
Media Contact: Sean Mahoney
(310) 867-0670 sean@ElectraMeccanica.com
Investor
Relations:
Greg Falesnik Managing
Director
MZ Group - MZ North America (949) 385-6449
greg.falesnik@mzgroup.us www.mzgroup.us
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