Electrameccanica Vehicles Corp Ltd. (NASDAQ: SOLO) is a Canadian designer and manufacturer of environmentally efficient electric vehicles (EVs).
The company's flagship vehicle is a single-seat EV called the SOLO (hence the company’s ticker symbol).
SOLO believes their three-wheeled vehicle will revolutionize the urban driving experience – that includes commuting, delivery, and shared mobility.
In its Q4 2020 report, Electrameccanica said their new EV factory in Mesa, Arizona will create 500 jobs and will have the capacity to produce 20,000 SOLO vehicles.
I’m bullish on the stock because it’s trading at an attractive price-to-book ratio of 3.7 ($129 million of cash compared to its $478 million total valuation).
That’s 9 times less than Tesla’s P/B ratio of 27.
The company's book value per share of $1.14 means you’re only paying $3.10 dollars more per share than the total cash value of the company (at $4.42 per share).
The bottom line is: SOLO is a great way to get in on the ground floor of a cheap company that could very well play a crucial part in the EV boom.
Electric cars are taking over
A new type of battery is pushing everything we thought we knew about energy storage to the limits.
According to automotive insiders, consumers will soon be able to go 1,000 miles on a single charge.
Think about that for a moment…
That’s nearly TRIPLE the distance of the best-performing electric cars on the market right now — and more than 8 TIMES farther than the average electric car…
That means you could drive from New York City all the way down to Daytona Beach, Florida, without stopping!
A 1,000-mile range clobbers even the most fuel-efficient gas vehicles on the road today!
In short, this tech is about to change EVERYTHING.
Here’s the best part:
At the heart of this new technology is one company — 1/1,000th the size of GM.
If you want to get in on the electric car revolution, this is easily the best way to do it.