The company's CEO, Susan E. Docherty, wrote in a blog post to the company's shareholders that major opportunities remain for an experienced maker of smaller, nimbler EVs with eye-catching design and personalized features. However, a three-wheeled EV is not the way to go given challenges ranging from its exclusion from government rebates, difficulty for consumers in insuring, financing, and servicing a three-wheeled vehicle, and consistent customer requests for more functionality.
Electra Meccanica had concluded its manufacturing relationship with Zongshen, China, saying it was "not an economically sustainable arrangement." Furthermore, the start-up had issued a voluntary recall for the ‘Solo’ in February after it was reported that the vehicle would sometimes decelerate on its own. The issue appears to have been resolved, and EMV says that there are still around 800 'Solo' vehicles in stock, which will still be sold.
The move to stop the production of 'Solo' comes at a time when electric vehicles are gaining momentum, and many automakers are developing more EVs to meet the demand for clean energy vehicles. Electra Meccanica's decision to focus on four-wheeled EVs could help the company capture a more significant share of the electric car market. Moreover, the shift in the company's focus could result in more advanced and safer vehicles for consumers, as four-wheeled EVs tend to be more stable and safer to drive than three-wheeled EVs.
Source: Electrive
