This startup's $18,000 electric car only has one seat. Its CEO told us why he thinks buyers will eat it up.

The ElectraMeccanica Solo. ElectraMeccanica
ElectraMeccanica, an electric vehicle startup, plans to ship its first small, one-seat EV by the end of 2021.

The "Solo" EV is a one-seat EV that ElectraMeccanica has designed for personal and commercial use.

The first Solos will be manufactured in China, but models that are more localized will eventually be built here in Mesa, Arizona.

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Electric cars are the new buzzword. Electric cars have revolutionized the market, whether it's the Tesla Model 3 sedan and the Mustang Mach-E crossover. Almost all the most popular electric cars share one common trait: They are passenger cars. ElectraMeccanica, a Canadian EV startup, wants to change this.

Jerry Kroll, a motorsport enthusiast and investor, cofounded and formerly managed ElectraMeccanica in 2015. His goal was to challenge the idea of urban transportation. Kroll wanted to do something different than building a commuter car.

Kroll's plan to rethink automobile design was to create an affordable electric city car that only has one seat. Paul Rivera, ElectraMeccanica CEO, stressed that the creation of ElectraMeccanica would combine the best of both traditional and micromobility.

Rivera stated that micromobility includes everything, from small electric scooters to tiny electric bikes. On the other hand, there are passenger cars. Even in electric-vehicle spaces, there are still three to four empty seats.

The ElectraMeccanica Solo. ElectraMeccanica

This idea is logical: If society goes all in on electric power, it might be a good idea to decrease our physical footprint and the amount of energy required to run the cars.

ElectraMeccanica named its new creation "Solo" after the brand had settled on a one-seater design. The brand announced that Solo production would be started in 2020 with Zongshen, a Chinese manufacturing company.

Rivera stated that safety and comfort were top priorities, despite having only one seat and three wheels.

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Rivera stated that they went to great lengths in order to ensure safety, even though the vehicle is three-wheeled and classified as a motorcycle. It still has the front and rear crumple zones. There is side impact protection. It has a roll bar inside. It has torque-limiting stability control.

"The vehicle's interior has all the comfort features and accouterments you would expect from a passenger car. It has heated seats, air conditioning, heat, Bluetooth, and it even has heat.

The ElectraMeccanica Solo. ElectraMeccanica

Rivera sees Solo becoming an ecosystem member with its compact design and $18,500 price. ElectraMeccanica targeted two markets to create the ecosystem: fleet and personal.

Personally, the advantages of an electric car are the most obvious.

Rivera explained to Insider that the vehicle can be used in retail and is for people who want an electric car but are unable to afford one.

Implementations in the fleet sector, from last-mile delivery to car sharing, are possible.

Rivera stated, "If you could share this vehicle either on college campuses or high-rise residential buildings - and walk up to unlock it with your iPhone/Android device and be able take it out for 2 hours or 3 hours and then bring it back, it's the perfect car."

The ElectraMeccanica Solo. ElectraMeccanica

ElectraMeccanica chose a direct-to consumer model to keep the purchase price down. This is similar to Tesla's and eliminates the need for traditional dealerships.

The Solo is priced at $18,500 and it beats all other mass-market EVs in the United States. It also qualifies for the federal tax credit. Two $2,500 rebates can be obtained by Oregon residents who are eligible to purchase a Solo. This brings the price down from $13,500 to $13,500.

ElectraMeccanica will eventually launch a classic-inspired, affordable electric convertible called the "Tofino" Rivera stated that ElectraMeccanica is focusing on getting the Solo to customers at its Oct. 4, launch event.

Rivera said that he is a car guy, and has aspirations to do other things. However, he stated that he believes that the plan must be followed. Rivera explained to Insider that the plan was to get the Solo on the roads first and establish credibility.

Business Insider has the original article.