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According to the ElectraMeccanica website, sometime around 2012, Jerry Kroll and Henry Reisner partnered with each other to begin work on a three-wheeled electric vehicle. At the time, Jerry...
Gerry Kroll. Writer. IMDbPro Starmeter See rank. Gerry Kroll is known for The Love Boat (1977) and Eight Is Enough (1977). Add photos, demo reels. Add to list. More at IMDbPro. Contact info. Agent info. Known for. The Love Boat. 6.3. TV Series. Writer (segment The Maid Cleans Up) 1983 • 1 ep. Eight Is Enough. 6.6. TV Series.
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Mar 1, 2024 · MESA, Ariz., March 01, 2024 -- ( BUSINESS WIRE )--ElectraMeccanica (NASDAQ: SOLO) ("ElectraMeccanica"), a designer and assembler of electric vehicles, announced today that founder and former board...
- Overview
- ElectraMeccanica's Financials
- ElectraMeccanica's Recent Developments
) is a designer and manufacturer of smaller and simpler electric vehicles. The company's flagship product was a three-wheeled electric car until this car had to be
in early 2023. In Dec. 2022, ElectraMeccanica also started assembling the electric vehicles of other companies in order to further leverage its state-of-the-art manufacturing facility in Mesa, Arizona.
The company was incorporated in 2015 and three years later, ElectraMeccanica filed for an
and began trading on the Nasdaq in 2018. In 2020, the company started production and delivery of its first EV, the three-wheeled SOLO.
After founder Jerry Kroll, top shareholders include State Street, Citadel Advisors, Mitsubishi Asset Management, Millennium, Deutsche Bank, and Morgan Stanley.
ElectraMeccanica is a designer and manufacturer of electric vehicles with a three-wheeled EV as its flagship and only product.
In May 2023, the company released its first quarter report for fiscal year (FY) 2023 for the period ending March 31, 2023. For Q1 2023, the company brought in revenues of $504,427. This is a
(YOY) decrease of 51.4%. The company had a net loss of $12.3 million. This is an improvement over the $18 million net loss from the same period the previous year.
ElectraMeccanica used to have two reporting segments: Electric Vehicles and Custom Built Vehicles. But as of 2023, the company only has one reporting segment: Electric Vehicles, which is responsible for all revenues. The company does break down revenues in this segment by U.S. sales and Canada sales; however, for Q1 2023, all sales were made in the U.S.
ElectraMeccanica's stock was trading at $1.07 on Feb. 1, 2023, and after the announcement of the voluntary recall that month, the stock bottomed out at $0.45 on March 29, 2023. It has steadily gone back up, and as of July 18, 2023, traded at $0.75.
In Feb. 2023, the company announced a voluntary recall of its SOLO vehicle due to a technical issue that would prevent propulsion in some cars at certain times. In April 2023, the company decided to repurchase all the vehicles it sold due to safety concerns of this technical issue.
This issue exists in the SOLO models G2 and G3 that were released between 2019 and 2023. The issue has not been found in the G1 system, which used a different design system and parts.
The company's financial performance will be severely impacted by the repurchase of all these vehicles. It will be further negatively affected because it has not yet determined the cause of the issue, which will prevent ElectraMeccanica from selling its vehicles.
In its Q1 2023 report, ElectraMeccanica stated it will finance operations over the next 12 months with cash on hand and it may seek additional
through private placements and/or public offerings of equity capital or debt.
The company does have a strong balance sheet, with total assets of $162 million and total liabilities of $46.3 million. It also has a large amount of cash ($111 million) with no debt on the balance sheet.
Sep 1, 2022 · Jerry Kroll, attorney for the 14 jewelry companies, said that his clients are cooperating with the FBI and have provided investigators with images of their stolen merchandise and, in one case,...
Sep 16, 2022 · Jerry Kroll, attorney for the victim jewelers, who number more than a dozen, said that the sequence of events described by Brink's "doesn't make any sense." "Why aren't we being told what...
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