. .
Copyright © 2020 InvestorPlace Media, LLC. All rights reserved. 1125 north. Charles Street, Baltimore, MD 21201.
Investors with a healthy risk appetite should consider taking a position in Electrameccanica Vehicles (NASDAQ: SOLO) stocks.
To say that Canadian electric vehicle manufacturer Electrameccanica Vehicles is unconventional is an understatement. The company, headquartered in Vancouver, British Columbia, manufactures an electric car with only three wheels and its designers describe it as a cross between an « econobox » and a « motorcycle »..
Some analysts referred to the Electrameccanica as « buggy. ». The automaker manufactures its electric vehicle at an assembly plant in China. While Electrameccanica Vehicles’ full approach and business plan upset many conservative investors, it also attracted enterprising people who want to roll the dice at a startup..
The most unusual aspect of the Electrameccanica electric car, the Solo, is that it runs on three wheels instead of four. The design pictures of the car make it appear to be cut in half. And only one person can ride in the car. Despite the three-wheel configuration and other quirks, the team at Electrameccanica Vehicles insist the Solo is as functional as any car made by Tesla (NASDAQ: TSLA) or Nio (NYSE: NIO).
Specifically, the company claims its electric vehicle has a range of 100 miles and a top speed of 80 miles per hour.. Electrameccanica claims that the mega plant in Chongqing, China, operated by Zongshen Industrial Group, will be able to produce 20,000 of its individual vehicles annually.
Electrameccanica Vehicles have been extraordinarily aggressive about opening retail stores in the US. To date, the company has opened retail outlets in Los Angeles and San Diego, California, as well as in Portland, Oregon and Scottsdale, Arizona.. By Thanksgiving, the company stated that it will open six additional stores, four in California and two in Arizona.
Retail stores are used to showcase individual production vehicles to potential customers. As with Tesla, consumers don’t drive the Solo electric vehicle far from the square but pre-order it to be delivered to them at a later time.. Solo requires a $ 250 deposit, which is refundable, and the total cost of one of these EVs is around $ 18,500.
While the Solo electric vehicle is attracting some interest, investing in SOLO stocks requires a leap of confidence on the part of investors.. There are many factors that can make selling a Solo difficult. One of the main barriers to entry is the size of the vehicle. It is small. Real small. Solo is just over ten feet (122 in) tall and 57. 5 inches wide at the front wheels.
It’s much smaller than the Honda Accord compact sedan that seats five and has 192 seats. 2 inches long and 73. 3 inches. Other potential drawbacks include the Solo’s top speed of only 80 miles per hour and a cost of around $ 18,000. People can buy a lot of other new and used cars for under $ 15,000.
Solo comes with some great features, including a heated seat, Bluetooth stereo, rear view camera, power steering, and air conditioning. For safety, it has front and rear crease zones, side impact protection, torque limiting stability control and winding rod.
But will these features be enough for people to pay close to $ 20,000 for a small green three-wheeler? This is the million dollar question.
When talking about money, another issue that Electrameccanica Vehicles faces is that Solo is not eligible for federal tax credits. This is because the Solo is classified as a motorcycle in U-eyes. s. Government. While a standard four-wheel electric vehicle qualifies for a federal tax credit of $ 7,500, Solo buyers receive no federal tax credit..
Whether a SOLO stock is worth investing in depends on each person’s risk appetite and whether they feel there will be a market for a small three-wheeled electric vehicle..
ElectraMeccanica Vehicles is a startup with big plans. The company is thinking globally and has announced that it will launch an assembly plant in either Nashville, Tennessee, or Phoenix, Arizona to service U. s. Market, while the facility in China will supply vehicles to Europe and Asia. In many respects, ElectraMeccanica is moving in the right direction.
The company’s stock has held steady recently. SOLO stock has more than quadrupled since its March low, and closed yesterday at $ 4. 83 per share.
While ElectraMeccanica Vehicles are still a penny stock, they have provided a significant return to investors so far this year.. However, the company is still in a start-up mode and investors should treat it and its shares as a speculative game for now. Progress with caution.
Financial market data backed by FinancialContent Services, Inc. All rights reserved. Nasdaq
Quotes delayed at least 15 minutes, and all others at least 20 minutes.
Copyright ©
2020 InvestorPlace Media, LLC. All rights reserved. 1125 north. Charles Street, Baltimore, MD 21201.
NASDAQ: SOLO, ElectraMeccanica, Stock, NASDAQ
World News – CA – SOLO Stock requires a great deal of trust
. . Related Title :
– Individual inventory requires a great deal of faith >
– Elecrameccanica (SOLO) Stock: Here& # 39; s Why It& # 39; s Up
– Analysts provide critical insights into Electrameccanica Vehicles Corp. (SOLO)
– <a href = "/? S = Should you buy Electrameccanica Vehicles Corp (SOLO) stocks after they rise 99. 72% in a week? Should you buy Electrameccanica Vehicles Corp (SOLO) shares after rising 99?. 72% in a week?
Ref: https://investorplace.com