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ElectraMeccanica Announces Retirement of Co-Founder Henry Reisner

VANCOUVER, British Columbia, JANUARY 27, 2022 – ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the "Company"), a designer and manufacturer of electric vehicles, announces the retirement of Henry Reisner, a co-founder and the current Executive VP and a director of the Company, with effect immediately.

Kevin Pavlov, the Company’s  Chief Executive Officer, stated, “On behalf of the Board of Directors and management team, I would like to celebrate all of Henry’s contributions over the course of his six years with ElectraMeccanica. We applaud Henry for his leadership, dedication and tireless efforts as he has been instrumental in makingElectraMeccanica what it is today, and we wish him the very best.”

Henry Reisner stated, “Today I announce my retirement from my roles within ElectraMeccanica. I take great pride in having helped found ElectraMeccanica and am honored to have had the opportunity to work alongside the talented and passionate ElectraMeccanica team in the development of the Company and its products.  I am very pleased that the InterMeccanica brand will continue and that current management is committed to the development, manufacture and distribution of the InterMeccanica e-roadster.  I look forward to future achievements and successes of the ElectraMeccanica team as the company continues to evolve and grow..”

Henry Reisner was the original owner and operator of Intermeccanica, a custom-built sports car company focused on global clientele first in Italy, and subsequently, in British Columbia. Intermeccanica became a wholly owned subsidiary of ElectraMeccanica in 2017

Last edited by Alan Merklin
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A while back he had FB messege me that he was looking forward to ( post COVID) the returning trips to China as that's where the early SOLO production was to take place and as I understand it some of the test vehicle were being assembled then container shipped. Th press release mentions that he will continue with the Electric Speedster/ Roadster development.

Well, I guess we will see where Henry ends up next.  Whatever he chooses to do, he will have a lot of support from a lot of people.

I guess my IM6 will be my last Intermeccanica, and I'm glad I had it built when I did.  My time working with Henry was wonderful, and we shared a vision that got turned into a fantastic reality.

With apologies to current builders, I doubt we will see any replicas as good as these again.

@Bob: IM S6 posted:

Well, I guess we will see where Henry ends up next.  Whatever he chooses to do, he will have a lot of support from a lot of people.

I guess my IM6 will be my last Intermeccanica, and I'm glad I had it built when I did.  My time working with Henry was wonderful, and we shared a vision that got turned into a fantastic reality.

With apologies to current builders, I doubt we will see any replicas as good as these again.

I'm not so sure about the last statement.

Henry's cars were better in 2005 (when mine was built) than they were in 1990, and I'd suspect your car (built 10 years after mine) was better than the one I got.

I know that Greg's cars get better every year and with every successive improvement, and Carey's cars are in an entirely different league than they were even 10 years ago.

The hobby is moving forward. This is a blow to everybody, but it creates even more space for the quality builders in the US to stake out more and more of the high end of the replica business.

I believe that they will rise to the challenge. I believe this will be their finest hour.

The unknown factor is the cause of Mr. Reisner's departure, any restrictions in the form of non compete agreements if he truly is completely out of the company, and his personal desire to stay in the business.

While not an owner of one of his cars, I am a fan and hope he continues, in some way, in producing great ICE 356 replica vehicles.

This doesn't detract from my admiration for what Greg Leach and Carey Hines are doing in the least.

We will see.

It says Henry left Electa-meccanica. I thought Electra-meccanica and Intermeccanica were being operated as two separate companies? I was under the impression he closed shop on Intermeccanica when he went completely electric. Then, after a year or so restarted the ICE side of things. It's unfortunate if the ICE side of things will be gone. He was a tremendous asset to the hobby.

I have owned 3 vintage motorcar spyders. 1999, 2003 and 2018. I can tell you the quality improved with each car I have owned. My 2018 car with its ~200hp Suby, front Bilstein shocks, anti sway bar, heated seats, hard half tonneau etc. is about as close to Spyder perfection as you can get. I owned a 2009 intermeccanica and I can tell you that the new Beck cars have equal performance and build quality as an IM. I thought about building a new Conv D IM but after seeing the attention to detail with Lanes car I was so impressed I ordered a Beck Conv D a few weeks later. And the IM would cost over 50% more than a comparable Beck. It’s really a no brainer.
I really hope Henry continues building 356 replicas. My IM was beautiful and well built. But honestly as long as Greg and Carey keep building cars I think we will be ok.

Spoken with a British accent while chomping on a cigar:

We shall go on to the end, we shall build in garages and shops,
we shall build with growing confidence and growing strength, we shall defend our hobby, whatever the cost may be,
we shall build in factories,
we shall build on lawns,
we shall build in the fields and in the streets,
we shall build in the hills;
we shall never surrender, and even if, which I do not for a moment believe, this hobby or a large part of it were subjugated and starving, then our builders beyond the seas,  would carry on the struggle, until, in God’s good time, the rest of the world, with all its power and might, steps forth to the rescue and the liberation of the speedster.”

Hail Winnie...

Last edited by Bob: IM S6
@Benjamin posted:

Beck builds a Convertible D?

5 or 6 years ago Carey brought one to Carlisle.  He's only built a couple.  Reason is he can't get the mechanism for the convertible top.  Henry will not sell him the mechanism that he has built so the only way to get them is from an original.  The Convertible D which is just a speedster with a taller windsheild and roll up windows (a few additional interior bits) was only sold in 1959 so it is very rare.  He told me it cost him $15k just for the convertible top mechanism for the one he brought to Carlisle.  I owned an IM Conv D with a hard top.  I always hated the way the bulky convertible top looked when it was down.  Also the soft top had to be completely removed from the car to install the hardbtop.  So I told myself if I ever built another Conv D it would be with a removable hardtop and soft top delete.  So that's what I'm building.

If the intermeccanica Conv D is no longer being built maybe there’s an opportunity for someone to purchase the blue prints of some of the nicer IM bits like the Conv D top. Vintage and Beck both build speedsters so a Conv D would be pretty easy if the top is available. But who knows. Are folks really interested in more head room and role up windows. I know I am. But it would likely be a $10k upgrade. Would there be enough interest. I personally think the answer is yes.

@550 Phil posted:

If the intermeccanica Conv D is no longer being built maybe there’s an opportunity for someone to purchase the blue prints of some of the nicer IM bits like the Conv D top. Vintage and Beck both build speedsters so a Conv D would be pretty easy if the top is available. But who knows. Are folks really interested in more head room and role up windows. I know I am. But it would likely be a $10k upgrade. Would there be enough interest. I personally think the answer is yes.

While they are not going to make ICE cars they will build E- Roadsters so the parts and tech info will be certaily with the company going forward so there would have to be some reverse engineering done by companies that want to offer the product.

A Roadster with roll up windows is IMO, the cats meow and provides a REAL TOP UP driving experience.  Most of members have never experienced it I might ad. Experience is always the teacher IMO.

I would be very surprised if Electrameccanica builds any viable numbers of speedsters or roadsters. They are focused on the three wheel Solo and haven’t been able to deliver anywhere near the vehicles that customers have on order. Besides, the electric roadsters that have been produced as show pieces had a base price of $150,000 and a range before recharging of 100 miles. I doubt that sort of vehicle has much sales potential.

Henry had a lifetime of experience and a passion for the cars Intermeccanica built. I don’t see any of that in the owners of Electrameccanica.

I completely agree with Ken's honest assessment of the situation.

Intermeccanica without Henry is Intermeccanica in name only. Intermeccanica building only BEV replicas is Intermeccanica in name only.

There is no market for a single-seat BEV tricycle, nor is there one for a $150K BEV replica with 100 mi of range.

We're living in a post-Intermeccanica world, and it's a sad day. Intermeccanica is dead. Long live the 356 replica hobby.

Don't think this will help Greg much but it will boost Beck.  Greg received his help when he was handed Vintage Speedsters lock, stock & barrel----and employees.  I don't hear much out of Phoenix ---anyone heard of someone receiving an Arizona build?  I believe Henry took care of retirement finances in one fell swoop---great guy and I am happy for him.  Onward and onward.

Last edited by Jack Crosby

I respectfully disagree, Jack. Greg wasn't handed anything. The Phoenix guy left Kirk's employees high and dry. Greg stepped in and re-employed them(and absolutely did the right thing!), and moved his address back to where he started in Hawaiian Gardens. Adding Speedsters to his Spyder and coupe offerings was a great move for him and for all of us.

Greg has stepped up his game continually, lifting the Vintage Speedster in the process. They have quite a waiting list for builds, and have for a while now.

Carey has a long waiting list for builds as well(three years I think?). Add the 5 plus-year-long chassis re-engineering program, a big plus for the future.

These two builders have been upping their game for years independently of what is now or was going on with IM. The draw for these two manufacturers is independent from IM. They may add a few more customers, but both are extremely busy already.

I wish Henry well, and also wish he was going to remain building cars.

Last edited by DannyP

With Henry being business savvy, I'm confident that he departed with a hefty financial cushion.  As far as a questionable market for the SOLO, they are investing $35,000,000 in their now 60% completed 500 employee Arizona facility (I'm sure there are all kinds of financial and AZ state and local tax incentives) they state that they will produce 20,000 SOLOS annually which seems aggressive, that is just two units per hour.  I believe when the SOLO is retail available the $18,500 will appeal to the Millennial commuter impulse buyer however these purchases will need to be in close proximity to retail dealer so that mechanicals can be serviced etc. Stay tuned as they state they will be in production in June.  https://azbigmedia.com/busines...ls-arizonas-ev-boom/

https://fb.watch/aSp0Bpdkrx/

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So many folks just don't "get" SOLO. They want to compare it to a conventional four wheeled vehicle. It's a three-wheeled, fully enclosed, heated & air conditioned, all-electric vehicle / motorcycle designed to very efficient and responsibly meet the transportation needs of ONE person. That's the SOLO market.... period.  It's not designed for couples or families unless one member thereof wants a personal transportation vehicle. Many families also own a motorcycle in addition to another conventional vehicle. There are three wheeled ICE motorcycles out there today costing nearly twice the price of a SOLO. Granted, those are currently readily available across the country and will usually carry two people. It's those to which SOLO offers a viable alternative.
Last edited by Alan Merklin

I think Henry left because of that model ... just kidding....  

He of course cashed out, and I am sure with a more than reasonable founding share package that was unlocked in the last little while.  

For us northerners, he was the only one producing roll up windows and a real top that we could easily access without gov. interference.

Henry loves cars, and he comes from a long family history of building them, so who knows what he will do for the next 5 years, after the usual non-compete clause.  

Maybe, Reisner's 356 creazione 

It does leave us at least in my opinion without help up here... we will see.

I wish him well.

Last edited by IaM-Ray

Truth be told, none of us will ever know what Henry’s separation package involves. I have heard “hallway chatter” that it was not completely voluntary. 

Having been through that, if that is the case, I’m confident Henry is astute enough to ensure his future.

As an IM owner, I’m saddened to read “the future of the e-Roadster is ensured.” That makes it clear IM will no longer be producing ICE Roadsters. That’s a shame. But maybe the value of our IM ICE cars just went up.

Wishing only the best for Henry and his family.

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