: EV trucker maker Tevva buying Electrameccanica Vehicles as part of U.S. push

Electrameccanica Vehicles Corp. SOLO said Tuesday it agreed to combine with Tevva as part of Tevva’s U.S. expansion in the electric medium- and heavy-duty commercial vehicle business. Financial details of the acquisition were not disclosed.  When the deal closes as expected in the fourth quarter, Tevva shareholders will own 76.5% of the combined company and ElectraMeccanica shareholders will own 23.5%. The company will operate as Tevva Inc., based in Delaware, with plans to trade on Nasdaq under the ticker symbol TVVA. Tevva said it expects its 2028 revenue to weigh in at $1.3 billion to $1.5 billion. Electrameccanica stock was down 0.9% in premarket trades.

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