Electrameccanica Inks Partnership Agreement With Faction Technology

Electrameccanica Vehicles Corp SOLO has signed a non-binding partnership agreement with Faction Technology Inc. to demonstrate a pilot deployment of driverless and remote vehicle operation technology on its EV platform.
Powered by the patent pending DriveLink Platform, Faction is focused on autonomous driving AI that is supported by teleoperation.
Faction plans to utilize the SOLO EVs to test their autonomous driving technology related to micro-logistics and ride-on-demand.
A test pilot program is currently underway with customers in food delivery and vehicle on-demand verticals.
The parties will work to expand the partnership toward the pilot deployment of a driverless demonstration fleet of up to 24 SOLO EVs over the next 12 months. To date, 3 SOLO EVs have been delivered to Faction.
Price Action: SOLO shares are trading higher by 6.97% at $2.15 on the last check Tuesday.