0001183740-22-000187.txt : 20221206 0001183740-22-000187.hdr.sgml : 20221206 20221206154359 ACCESSION NUMBER: 0001183740-22-000187 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20221205 FILED AS OF DATE: 20221206 DATE AS OF CHANGE: 20221206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ELECTRAMECCANICA VEHICLES CORP. CENTRAL INDEX KEY: 0001637736 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38612 FILM NUMBER: 221447575 BUSINESS ADDRESS: STREET 1: 8057 NORTH FRASER WAY CITY: BURNABY STATE: A1 ZIP: V5J 5M8 BUSINESS PHONE: 604-428-7656 MAIL ADDRESS: STREET 1: 8057 NORTH FRASER WAY CITY: BURNABY STATE: A1 ZIP: V5J 5M8 6-K 1 f6k-20221205emv.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2022

Commission File No. 001-38612

ELECTRAMECCANICA VEHICLES CORP.
(Translation of registrant's name into English)

8057 North Fraser Way
Burnaby, British Columbia, Canada, V5J 5M8
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

Form 20-F  [X ] Form 40-F  [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)  [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)  [  ]


 

 

SUBMITTED HEREWITH

Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K is incorporated by reference into: (i) our registration statement on Form F-3 (333-229562), originally filed on February 8, 2019, and the prospectus thereto filed on March 1, 2019; (ii) our registration statement on Form S-8 (333-249321), originally filed on October 5, 2020; and (iii) our registration statement on Form F-3 (333-257292), originally filed on June 22, 2021, the prospectus thereto filed on June 30, 2021, and the prospectus supplement thereto filed on September 30, 2021.


 

Exhibits

Exhibit No.

 

Exhibit

 

 

 

99.1

 

Press Release (December 5, 2022): ElectraMeccanica Appoints New CEO to Accelerate Onshoring and Commercialization.

 

99.2

 

Electrameccanica Board letter: New Leadership, Committed To Accelerating Onshore Commercialization.


 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ELECTRAMECCANICA VEHICLES CORP.

/s/ Tony Dent  

Tony Dent

General Counsel and Corporate Secretary

Date: December 5, 2022.

 

EX-99.1 2 ex991-20221205emv.htm PRESS RELEASE

Exhibit 99.1

ElectraMeccanica Appoints New CEO to Accelerate Onshoring and Commercialization

Seasoned Growth Executive Susan Docherty Assumes Both CEO and Interim COO Roles

Kevin Pavlov and Joe Mitchell Resign Effective Immediately

Mesa Manufacturing Facility to be Commissioned on December 12, 2022, Become New Corporate HQ

First-Ever Investor Day Confirmed for February 15, 2023

December 05, 2022 09:00 AM Eastern Standard Time

VANCOUVER, British Columbia--(BUSINESS WIRE)--ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles revolutionizing the urban driving experience, today announced substantial leadership and operating changes in order to accelerate its transition to onshore manufacturing and commercialization of its unique horizontal market. Susan Docherty, a proven CEO, executive and board member with three-plus decades of experience driving growth, transforming brands and defining markets – including over 25 years at General Motors – assumes both the CEO and Interim COO roles effective immediately. Kevin Pavlov and Joe Mitchell, respectively the outgoing CEO and COO, have resigned to pursue other opportunities. In connection with this leadership change, the Company also announced that it will officially commission its Mesa, Arizona manufacturing facility on December 12, 2022; and hold its first-ever investor day on February 15, 2023.

For more information, please visit: https://bit.ly/3H7eSbZ.

About ElectraMeccanica Vehicles Corp.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) is a designer and manufacturer of environmentally efficient electric vehicles (EVs). The company’s flagship vehicle is the innovative, purpose-built, single-seat EV called the SOLO. This three-wheeled vehicle will revolutionize the urban driving experience, including commuting, delivery and shared mobility. Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer. Depending on driving conditions, temperature and climate controls, the SOLO has a range of up to 100 miles and a top speed of up to 80 mph. The SOLO also features front and rear crumple zones, side impact protection, roll bar, torque-limiting control as well as power steering, power brakes, air conditioning and a Bluetooth entertainment system. It blends a modern look with safety features at an accessible price point of $18,500 (MSRP) for the consumer model and $24,500 (MSRP) for the delivery-oriented SOLO Cargo model, which features an expanded cargo box to accommodate a wide variety of fleet and commercial applications. The SOLO is currently available for order here. For more information, please visit www.electrameccanica.com.

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute “forward-




looking statements” as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward-looking statements. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect,” “is expected,” “anticipates” or “does not anticipate,” “plans,” “estimates” or “intends,” or stating that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the automotive industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Contacts

John Franklin
Sinter
ir@emvauto.com


EX-99.2 3 ex992-20221205emv.htm ELECTRAMECCANICA BOARD LETTER

Exhibit 99.2

New Leadership, Committed To Accelerating Onshore Commercialization

DECEMBER 05, 2022

Today we announced a series of leadership and operating changes that we believe will add significant momentum to the journey ElectraMeccanica began when the Company broke ground on the Mesa, Arizona manufacturing facility 18 months ago. These decisions will help the Company transition smoothly and assertively to a new phase of commercialization. Our first phase culminated in successfully producing the SOLO using China-based contract manufacturing. Now, the Company is at the beginning of the all-important second phase: scaling onshore manufacturing in Mesa. Getting ElectraMeccanica to this pivotal point required building Mesa itself – and it also required the team that stood it up in just 18 months. However, our next stage of development needs something new: a different skillset and a different approach. In particular, we need experienced, proven automotive/OEM leadership in order for the Company to thrive.

To capture our horizontal market opportunity and make the SOLO the obvious choice for the three-quarters of drivers who commute alone? The Company requires not only pioneering technical skills, but also a proven ability to literally make a new market by busting legacy categories and growing demand, sales and margins. That is why the Board has appointed Susan Docherty as ElectraMeccanica’s new Chief Executive Officer as well as Interim Chief Operating Officer. You can read more of her career highlights below, but taken all together, Susan’s experience represents a track record that spans both autos and lifestyle and aligns impactful brands with top- and bottom-line goals. In this regard and many others, she is the right person, at the right time, to accelerate our business.

Docherty Experience

Susan brings to ElectraMeccanica a unique understanding of how to connect consumer behaviors to brands and business models inside the auto/EV industries as well as outside it. She forged a storied global career at GM over 25 years at the automaker, during which she launched, breathed new life into and/or oversaw dozens of vehicle brands ranging from Hummer, to Cadillac, to the Electric Chevy Volt across the US, the EU and China. She added significant depth to her experience starting in 2008 as one of the most senior, frontline sales executives to help lead the company through its emergence from the financial crisis, a government bailout and bankruptcy. 

Beginning with her appointment as the first-ever auto industry female Vice President of Sales, Service & Marketing in 2009, Susan’s diverse responsibilities came to include overseeing dealer network restructuring; advertising & marketing spend as well as agency relationships; sales and servicing; customer data systems; and product as well as manufacturing operations in various countries. Specifically, while overseeing International Operations for GM starting in 2010, she was responsible for its largest growth region, driving volume and revenue increases of close to 700,000 units and $45 billion, respectively. She also launched the Electric Chevy Volt in the EU, reduced the company’s losses in Europe by hundreds of millions of dollars annually, and increased GM’s market share during a down market. 




More recently, Susan diversified her credentials by engineering the turnaround and re-expansion of Canyon Ranch, the iconic 40-year-old lifestyle and wellness brand. During her four-year tenure at the company as CEO, she restructured its operations, identified and pursued new adjacent growth opportunities – including partnerships with airlines, cruise ships and special-purpose housing - adding locations outside the US, overhauling its web presence, building a new management team and relocating its corporate HQ. Her initiatives improved topline growth by over 30% and improved profits by 80% during her time there. 

Susan also broadened her governance and oversight credentials by serving on three Boards of Directors, including NYSE-listed The Brinks Company and the newly public Mister Car Wash, as well as the private-equity-backed J&J Ventures Gaming. Taken as a whole, this set of credentials is both impressive and directly relevant to building sustainable, scaled demand for EMV’s products. The Board believes that Susan has both the bottom-up and top-down experience needed to take our business to the next level and beyond.

Outgoing Management

The following management changes are effective immediately. Kevin Pavlov has elected to step down as Chief Executive Officer and also, Joe Mitchell, our former Chief Operating Officer, has made the decision to retire. 

The Company would like to thank each of them for their extraordinary contributions. Mr. Pavlov played a key role in transitioning EMV from a small engineering company with a radical vehicle design and a promising balance sheet to a first-stage domestic OEM. In the process, he oversaw an achievement few EV or legacy automakers can claim – orchestrating contract manufacturing, distribution and sales of road-ready vehicles with our Chinese partner, Zongshen. He accomplished this during a global pandemic that disrupted international supply chains and crippled the global economy, while establishing the Company’s path to fully integrated manufacturing by breaking ground on our facility in Mesa, Arizona.

Separately, Joe’s efforts helped take our Mesa facility from concept to a state-of-the-art factory built from the ground up to deliver a smaller, more nimble, single-seat lifestyle, commuter and delivery vehicle. Together, Kevin and Joe oversaw another milestone few in the EV business can claim, producing 500-plus vehicles within our first year as an OEM. We’re grateful to them both for their insight and efforts and wish them the best as they move on to their next acts.

Mesa Commissioning, HQ Designation, Feb. 15, 2023 Investor Day

Susan, in stepping into both roles, has already hit the ground running. Not only will she help commission the Mesa facility on December 12, 2022, but she has also decided to commit the Company fully to its multi-billion dollar US market by making Mesa ElectraMeccanica’s corporate headquarters. 

Burnaby, British Columbia was an excellent HQ for the first stage of the Company’s Founder-led growth. But now that ElectraMeccanica is ready to scale, the reality is that - as a consumer-centric organization - the business needs to be close to the communities and markets it serves, so that we can continuously adjust and improve how we meet consumer needs in real time. We couldn’t be more




enthusiastic about the focus we believe this brings to the business in recognizing the importance and the opportunity represented by both the SOLO and the Mesa, Arizona community. 

The Phoenix-Mesa-Chandler area is the fastest-growing urban-and-suburban area in the country and precisely the kind of population center for which the SOLO is designed. Putting both our manufacturing and our leadership at the heart of it just makes sense. To understand even more of the economic thinking behind this and other components of our overall addressable market, we and Susan both encourage you to register for our upcoming investor day, which will be held on February 15, 2023. Susan and her team will webcast a business update from the Mesa facility and outline her plans for the business going forward. 

Looking Ahead

In conclusion, ElectraMeccanica has always had a unique and better vision for everyday vehicle electrification. Our Mission is clear: “we provide customer-inspired mobility solutions for a world in need.” As our investor deck and our 2022 shareholder letters note, there’s a large opportunity to reinvent electric mobility in ways that make more practical sense for urban and suburban drivers. 

Neither legacy automakers nor native EV companies are focused on this horizontal middle market between mini-mobility like scooters and the large, multi-passenger-vehicle standard. 

We’re delighted to welcome Susan to the Company, and look forward to everything we know she can do to realize the advantages of a different approach to vehicle electrification by leveraging her knowledge from hard-earned lessons in scaled OEM operations.

Steven Sanders, Chairman of the Board of Directors, for ElectraMeccanica