Small electric vehicle maker ElectraMeccanica ends exit plan

ElectraMeccanica, ancient maker of three-wheeled electric Vehicles, said on Wednesday that he has " finished " It is plan has merge with Tevva, which makes hydrogen-electric trucks (not sandals).

ElectraMeccanica said It is advice decided unanimously has garbage can THE agreement on "several incurable violations of THE agreement by Tevva. THE alleged violations include "chess by Tevva” has share "material information" with ElectraMeccanica, THE last farm said.

What material information? A spokesperson For ElectraMeccanica decreases has elaborate In A E-mail has TechCrunch.

by Tevva spokesperson said TechCrunch that It is "deeply disappointed by ElectraMeccanica sudden decision." They Also decreases has elaborate further.

Cryptically, ElectraMeccanica press release said THE boards decision was "base on additional information that came has light." He added that ElectraMeccanica would be "explore all legal appeal available has he" has to recover species he had lent outside.

In August, ElectraMeccanica said he would be lend $6 million In functioning capital has THE UNITED KINGDOM. truck maker. Their merger was announcement that month, following A rocky year For ElectraMeccanica. During that time, THE Car manufacturer recalled all of It is toddler Vehicles, And SO rotated far Since THE three wheels walk entirely.

After THE companies announcement THE merger, ElectraMeccanica CEO Suzanne Docherty said THE companies operations would be complement each other. THE executive quoted by Tevva "experience In THE UNITED KINGDOM. And EU" And It is “commercially ready some products And significant customer list" as benefits has THE merger.

ElectraMeccanica statement Today added that he " for has continue exploring other strategic third party opportunities. »