REVVED UP AT ELECTRAMECCANICA
Canadian electric-vehicle startup ElectraMeccanica says it will open six U.S. retail outlets before the end of November. The stores will open in the following cities: San Diego, California; Santa Clara, California; Walnut Creek, California; Brea, California; Scottsdale Arizona, and Glendale, Arizona. ElectraMeccanica says the Scottsdale store will be a seasonal one.
All six locations are set to open by Thanksgiving, are in popular shopping centres, and “will be strategically positioned in high-visibility areas alongside notable name0brand anchor stores,” according to the automaker.
The EV startup located in Vancouver builds and sells the three-wheeled, all-electric commuter vehicle, designed specifically for urban settings, with four established U.S. locations on the west coast.
ElectraMeccanica, along with its manufacturing partner and strategic investor Zongshen Industrial Group, began production of the Solo EV in China during late August.
The SOLO EV features a 160 km and can cruise at highway speeds and can charge on regular household (100V) sockets in fewer than six hours, according to the automaker.
ElectraMeccanica said Thursday that the initial shipment of its production vehicles has arrived in North America, and has been designated for corporate use in marketing, advertising, and retail.
They have also used vehicles from their first batch of EVs to test the international shopping logistics and port processing. “We are continuing with our planned, methodical ramp-up in production to ensure quality and consistency,” CEO of ElectraMeccanica Paul Rivera said. “While we have encountered certain hurdles through this growth process, our team is hard at work making select supply chain and technical improvements.” The single-seat EV starts at $18,500 in the United States. It has been in development for about five years and undergone steady refinement as it approached commercial production.
A PENNED COMPLAINT
The Insurance Bureau of Canada (IBC) has published an open letter to British Columbia Premier John Horgan, outlining the auto industry’s concerns with Bill 11.
In its letter, IBC highlights a new proposal for offering vehicle damage coverage when a driver is not responsible for an accident. It states the bill will further limit consumer choice, create new barriers that will stifle the already limited competition that currently exists in B.C.’s optional auto insurance market, and it will risk driving other insurers out of its optional auto insurance market entirely.
IBC also offers a new proposal for offering vehicle damage coverage when a driver is not responsible for an accident. “As part of the move to a no-fault system, Bill 11 creates a new mandatory Basic Vehicle Damage coverage that is only available through the Insurance Corporation of British Columbia (ICBC),” IBC says in its letter. “This product will provide coverage for vehicle replacement and repair when a driver is not responsible for an accident.
“Today, these repairs can be covered by the third-party liability insurance of the driver responsible for an accident, which is open to choose and competition above ICBC’s basic limits.”
In B.C., the Insurance Corporation of British Columbia (ICBC) is a provincial Crown corporation that provides universal compulsory auto insurance (Basic insurance) to drivers in B.C.
PULLING OUT OF THE PACIFIC
Intact has announced that it plans to no longer offer optional automobile coverage in British Columbia.
This decision was made with careful consideration given the upcoming changes in the province after the NDP secured a majority government this past weekend. With the NDP win, the Insurance Corporation of British Columbia (ICBC) will remain on as the province’s public insurer.
B.C.’s Liberal Party had promised that, if it won the provincial election, it would get rid of the monopolistic public insurance structure run by the Insurance Corporation of British Columbia (ICBC).
“We believe that consumers should have choice and flexibility when it comes to their insurance,” said Louis Gagnon, president, of Canadian operations, Intact Financial. “We have been closely assessing the optional automobile insurance market in British Columbia for some time and made the decision to shift focus to our other lines of business and providing enhanced services to consumers.”
Intact insurance brands, Intact Insurance, and belairdirect will no longer offer optional coverage in B.C. Both brands will stop taking new business starting December 1, 2020, and renewals on January 1, 2021.
The issue for Intact, regarding the NDP’s new majority government, was their platform that would offer a new mandatory Basic Vehicle coverage, as the no-fault insurance models of Saskatchewan and Manitoba. Intact’s biggest concern is the limitation of competition and choice for consumers due to this new coverage.
However, as Canada’s leading home and auto insurance provider, Intact is committed to maintaining a strong presence in the province of B.C. They will continue to provide personal property, commercial P&C, surety, and specialty insurance to individuals and businesses in B.C. through its brands.
