ElectraMeccanica (NASDAQ: SOLO), a company specializing in electric vehicle design and assembly, has revealed that its founder and former board member, Jerry Kroll, has pledged his support for the proposed merger between ElectraMeccanica and Xos, Inc. (NASDAQ: XOS), a prominent electric truck manufacturer and provider of fleet electrification services. This agreement is set to be confirmed at the special ElectraMeccanica shareholder meeting scheduled for Wednesday, March 20th.
Kroll expressed his enthusiasm for the merger, stating, “My goal has always been to be part of a company that could revolutionize the automotive industry, and I firmly believe that the integration of ElectraMeccanica and Xos will lead us toward that goal.” He added, “The shift towards zero-emission commercial vehicles is a strategic move in the realm of EV technology, driven by market demand and promising economics for fleet operators. I am fully supportive of a transaction that not only generates economic value but also aligns with my enduring mission.”
Susan E. Docherty, CEO of ElectraMeccanica, acknowledged Kroll’s backing as a significant endorsement of the potential benefits of the proposed merger with Xos. She remarked, “Jerry’s endorsement underscores the robust potential of our partnership with Xos. As a founder and major shareholder, his alignment with our vision reflects confidence in the future growth opportunities that this merger presents. With Xos already established in the market and a satisfied customer base, we are eager to embark on this journey of expansion to meet the increasing demand from commercial fleets.”
For further details regarding the merger proposal and instructions on voting, shareholders are directed to visit xosandemv.com. Shareholders requiring assistance or having inquiries about voting procedures are encouraged to reach out to ElectraMeccanica’s proxy solicitation agents:
Canada: Laurel Hill Advisory Group – 1-877-452-7184 or [email protected]
United States: Mackenzie Partners – 1-800-322-2885 or [email protected]
