By Josh Beckerman
ElectraMeccanica, which previously said its merger with Tevva represented a pivot to commercial vehicles from consumer vehicles, said Friday that it won’t pursue its Project E4 plan to develop a four-wheeled electric passenger vehicle.
The company said it is terminating a design supply agreement and a contract assembly agreement with GLV LLC due to the Tevva merger.
Earlier this year, the company recalled certain three-wheeled, single-seat Solo vehicles. In March, it said it would focus on Project E4.
In early August, ElectraMeccanica said it may explore strategic options. Under the deal announced Aug. 15, ElectraMeccanica shareholders would own 23.5% of the combined company, while Tevva shareholders will own 76.5%.
Write to Josh Beckerman at josh.beckerman@wsj.com
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