End of the road for the Solo, a Canadian 3-wheel electric car
Electra Meccanica, founded in 2015, is a Vancouver-based company that launched the Solo, a small single-seat 3-wheel electric car. Introduced in 2020, the car was to represent the future in terms of urban mobility, i.e. a zero-emission, ultra-compact and, above all, affordable car, which would meet the travel needs of workers. The company then planned to introduce several other electric models, some even saw in Electra Meccanica the appearance of a future Canadian Tesla.
However, we learn that the experience did not prove to be profitable. Marketed since 2020, the Solo has never obtained the number of orders and sales expected. Susan E. Docherty, President and CEO of Electra Meccanica, highlighted in a statement sent to investors that the company has been unable to convince buyers of the benefits of a 3-wheeled microcar.
There Solo was sold at a base price of $15,500 and boasted a range of 161 kilometres. In addition, it could regain 85% of its autonomy in 2.5 hours of recharging in a level 2 terminal. According to the official site it could be rented for a monthly payment of 272 over 72 months.
Lots of pitfalls
The company also experienced several pitfalls during the marketing of the Solo, its exclusion from rebate programs for electric vehicles as well as the difficulty for owners to finance and insure the car, in particular.
It should also be mentioned that the company announced a voluntary recall of its Solo (G3) model a few months ago. Indeed, the car could suffer a loss of power and propulsion for no apparent reason, which prompted the manufacturer to stop selling it. However, he hopes to find a fix to the problem in order to be able to sell the approximately 800 remaining and already built copies. The company also terminated its agreement with the Chinese company Zongsen for the production of its models, a situation which was not economically viable for Electra Meccanica and which largely explains its financial losses.
A new electric car, but with 4 wheels
The leader mentions in the press release that the company remains in a good financial position, but that it must reorient its strategy by marketing a 4-wheel electric car which bears the code name “Project E4”.
“We have a demonstrated ability to design, manufacture and sell a distinctive electric vehicle at a low price — a product that reflects our long history of designing the automotive market differently from everyone else. »
Conclusion
It’s a pity all the same considering the price of current electric vehicles; the Solo represented a way to get around in an electric vehicle at little cost. Was the company ahead of its time?
