ElectraMeccanica

Tevva Motors Limited is filing a lawsuit in the United States District Court in Arizona against ElectraMeccanica Vehicles Corp. as well as EMV’s CEO Susan Docherty seeking redress for the improper and unmerited purported termination of the binding merger arrangement agreement with Tevva. 

"Earlier this month (4 October 2023), Tevva Motors Limited (Tevva) was informed by ElectraMeccanica Vehicles Corp. (ElectraMeccanica) that it no longer intended to continue with the merger agreement, citing incurable breaches", we read in their statement.

Upon the closing of the proposed transaction, ElectraMeccanica shareholders will own 23.5% of the combined company and Tevva shareholders will own 76.5% of the combined company on a fully diluted basis. At closing of the proposed transaction, the combined company will operate as Tevva, Inc., and is ...