News may have leaked the Electra Meccanica (SOLO) may begin production of their electric vehicles in an upcoming announcement scheduled for Friday.
According to a post on Reddit, good news may come out Friday regarding facility expansion and the start of the production of their electric vehicles.
As you can see in the above snippet that the company is very excited to release news regarding their expansion and assembly line. It would be logical that they could start production.
Why did Electra Meccanica (SOLO) go up?
Electrameccanica is a a designer and manufacturer of electric vehicles and their main market should be USA. On May 29, CEO Paul Rivera , gave a sort of an update,when he said that they are looking for a property in Arizona, Colorado and Florida for their USA expansion.
On this news SOLO shares slowly started going up and made a significant jump on Wednesday. One SOLO share is up 11.86% an is trading around $1.32. As I am writing this article a new information came through. According to some chatter on Reddit and Twitter, it looks like the Company will publish a press release on June 5th. The topic of this announcement is assembly line in USA and according to this same source, Electrameccanica is “excited to release” new information. Which means that there will be positive news on Friday. But only if this “source” is telling the truth.
This can bring SOLO stock price over $2 and who knows, maybe even higher. Is this just another TESLA competitor that will go down or is SOLO a good venture that will make you a significant ROI?
