ElectraMeccanica Launches Autonomous SOLO EV Pilot Through Partnership with Faction Technology

Electra Meccanica Vehicle Corp

Faction to create technology without driver and remote operation of the car on the SOLO EV platform

VANCOUVER, British Columbia, February 15, 2022 (GLOBE NEWSWIRE) – ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or “Company”), designer and manufacturer of electric vehicles that are revolutionizing urban governance today. has announced an optional partnership with Faction Technology, Inc. (“Faction”) to demonstrate the pilot deployment of steering wheelless and remote-controlled Faction vehicles on SOLA EV platform.

Thanks to the patented DriveLink ™ platform, Faction focuses on autonomous AI control supported by teleoperating. The AI ​​is designed with specific templates to know if a vehicle needs operator assistance.

The faction plans to use SOLA EVs to test their autonomous driving technology as it involves micrologistics and on-demand driving. A test pilot program is currently underway with customers in both vertical food delivery and on-demand vehicles in which a light electric vehicle is suitable for delivery and overall mobility.

After Covid food delivery and joint travel services remain in high demand in the United States; however, the country continues to face a shortage of drivers and chips, forcing businesses in these areas to increase costs. Faction technology built into an already competitive price SOLA EV, will allow consumers to pay a lower price for these services per mile.

Under the Memorandum of Understanding, ElectraMeccanica and Faction will make every effort to expand the partnership to pilot up to 24 people without a driverless fleet. SOLA Electric machines for the next 12 months. To date 3 SOLA Electric machines were delivered to the faction.

“Fraction was one of our first clients to receive a SOLA EV is for its development park, and this partnership is the next step in our ongoing collaboration, ”said Kevin Pavlov, CEO of ElectraMeccanica. “We believe that Faction technology is essential in the evolution towards full autonomous control, allowing vehicles to deliver goods through a combination of autonomy and a remote worker who uses teleoperating to assist. We look forward to working with the Faction team to test our car with its technology platform and promote urban micro-delivery. ”

Ain McEndrick, founder and CEO of Faction Technology, added: “We were impressed with our SOLA Electric cars and this partnership will help expand the future of urban mobility. The SOLA EV is an excellent candidate for the Faction mission for the right size of urban delivery and transportation, well suited for our unique approach to combining seamless technology with lightweight car systems. We are excited to move to the introduction of our driverless remote control technology for several SOLA Electric machines in the coming months so we can start testing and collecting data in the real world. ”

About the faction Technology, Inc.

Faction Technology, Inc. is a Silicon Valley startup that develops driverless solutions based on light electric vehicles. Founded in February 2020, Faction is fulfilling the mission of revolution in micrologistics and automotive on demand. The company believes that the future of sustainable transport is to develop uncontrolled vehicles that will be safe, cost-effective and the right size to serve a range of uses for both business and passenger transport. For more information, visit www.faction.us.

About ElectraMeccanica Vehicles Corp.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally friendly electric vehicles (EV). The company’s flagship car is an innovative, purpose-built, single EV called SOLA. This tricycle will revolutionize urban management, including travel, delivery and shared mobility. Designed for a single passenger, it offers a unique driving experience for the environmentally conscious consumer. The SOLA has a range of 100 miles and a top speed of 80 miles per hour, making it safe for the highway. The SOLA also has front and rear softening zones, side impact protection, roll, torque limitation control, as well as power steering, electric brakes, air conditioning and Bluetooth entertainment system.

It combines a modern look with security features at an affordable price of $ 18,500 for the consumer model and $ 24,500 for the delivery-oriented SOLA Cargo model, which has an advanced cargo box to accommodate a wide range of transport and commercial applications. The SOLA currently available for order here. For more information, visit www.electrameccanica.com.

Safe Harbor Statements

With the exception of the historical facts contained in this document, the information presented in this news release is a “forward-looking statement” as the term is used in current U.S. and Canadian securities laws. These statements relate to analysis and other information based on forecasts of future results, estimates of amounts that cannot yet be determined, and management assumptions. Any statements that express or involve discussions about forecasts, expectations, beliefs, plans, forecasts, goals, assumptions, or future events or performance (often, but not always, using words or phrases such as “anticipated”, “estimates”, “Projects”, “expects”, “reflects”, “intends”, “believes”, “plans”, “may”, “will” or their negatives or other comparable words) are not a statement of historical fact and should be considered as “statements of greed”. Such forward-looking statements include known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, but are not limited to, prices for other electric vehicles, costs associated with the production of vehicles, the availability of capital to finance business plans and the resulting erosion of capital caused by raising capital through stock sales, changes in the electric vehicle market. changes in government regulation, development of alternative technologies, inexperience in servicing electric vehicles, labor disputes and other risks of the electric vehicle industry, including, without limitation, risks associated with delays in obtaining government permits and / or certificates. Although the Company has attempted to identify important factors that may cause actual actions, events, or outcomes to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events, or outcomes to be inconsistent. evaluated or assigned. There can be no assurance that such statements will be accurate, as actual results and future events may differ materially from those expected in such statements. Accordingly, readers should not rely unduly on the forward-looking statements contained in this news release and in any document referred to in this news release. Forward-looking statements are made based on management’s beliefs, assessments and opinions as of the date they are made, and the Company undertakes no obligation to update forward-looking statements when those beliefs, assessments and opinions or other circumstances need to change, except as applicable. Such forward-looking statements reflect our current views on future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties outlined in our most recent financial statements and reports and registration statement submitted to the United States on securities and Kami “SEC”) (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that these beliefs, plans, expectations or intentions will be accurate. Investors should consider all of the information set forth herein, as well as refer to the risk factors disclosed in the company’s periodic reports that are provided to the SEC from time to time. This news release does not constitute an offer to sell or request to purchase the Company’s securities, nor will these securities be sold in any jurisdiction in which such an offer, petition or sale would be illegal prior to registration or qualification under the Securities Act. papers of any such jurisdiction.

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