Company News

BUZZ-EV maker ElectraMeccanica continues to race on deliveries forecast

** ElectraMeccanica shares jump 15 pct to $4.98, adding to Wednesday’s surge of ~220 pct, in heavy volumes

** Deliveries of flagship 3-wheel vehicle, Solo, to start this quarter and deliveries of the Tofino, a 2-seater electric roadster, to start next year, co’s investor presentation shows

** CEO Jerry Kroll calls Solo “a forward thinking ... and quite frankly, sexy looking package”, while saying co has a “shocking number” of orders for Tofino, a car “along the same lines as a (Mazada) Miata but sexier looking”

** Roughly 63 mln SOLO shares traded in past two days, closing in on 6x the stock’s free float; SOLO 6th most active stock across U.S. exchanges on Thursday

** SOLO moved to Nasdaq in early August last year and opened at $3.25; stock hit a high of $7.48 in late October (Reporting by Aaron Saldanha in Bengaluru)