An iPhone Moment For Cars Is Here

Micromobility, an electric car weighing less than 500 kg, is poised to create an iPhone moment in transportation.

According to a report from Bloomberg, ElectraMeccanica Vehicles Corp. went up about 39 percent Wednesday after getting its first analyst rating, indicating that the Canadian small-cap is certainly getting attention on Wall Street as it looks to take on Tesla Inc.
 
 
Source: Bloomberg 
 
"SOLO, the company’s one-person, three-wheel, fully enclosed battery electric vehicle “has a large potential” total addressable market, since 83 percent of all cars on the highway only have one occupant," remarked Benchmark analyst Bill Sutherland
 
A report from Barclay’s Sustainable & Thematic Investing team on Wednesday predicted that Micromobility, which is characterized as an electric vehicle weighing less than 500 kg (1,100 pounds), could be an “iPhone moment in urban personal and commercial transportation.”  The report indicated a $800 billion global revenue opportunity for Micromobility operators by the mid-2020s. 
 
According to Bloomberg by Jan 30, the company had received non-binding letters of interest for 64,158 corporate orders. 22,242 order were for SOLOs and 40,997 showed their interest in Tofinos, which is a two-seat roadster, currently in development. Moreover, the company also received securities for 864 SOLOs and 55 Tofinos for individual use.
 
Sutherland estimates an initial opportunity of approximately $2 billion. He said that the company’s revenue will go up to $7.5 million for 2019, ultimately growing to $157.2 million in 2021.