background

FreedomRoad Financial partners with electric 3-wheeler OEM

FreedomRoad Financial has signed on to become the retail finance partner for the flagship vehicle of Electra Meccanica Vehicles, the companies announced.

Electra Meccanica is a Canadian manufacturer of electric cars. Its first vehicle, the Solo, is a single-seat three-wheeled vehicle that falls more into the realm of powersports than a traditional automobile. The Solo is classified as an autocycle in 41 U.S. states, per Electra Meccanica’s website.

The electric Solo is primarily aimed at commuters. It features a 100-mile range, has a top speed of 85 mph, and can charge on a regular household current and public charge stations in less than 6 hours. The “anticipated” starting price is $16,250, according to the company’s website.

FreedomRoad will finance only the Solo, and not Electra Meccanica’s two other models, the four-wheeled Tofino, and eRoadster.

“Our agreement with FreedomRoad Financial provides consumers with a vehicle financing solution for our Solo EV,” Paul Rivera, chief executive of Electra Meccanica, said in a press release. “The Solo is quickly gaining widespread attention, as well as broad consumer interest. As a further service to our customer base, we are excited to offer financing with FreedomRoad to make the Solo affordable and available to all.”

The Solo is currently only available through pre-orders on the company website. Electra Meccanica has a location in Los Angeles, with stores in Seattle and Portland, Ore., coming soon.

Oak Brook, Ill.-based FreedomRoad Financial has partnerships with powersports OEMs such as Triumph, KTM and Husqvarna.

Join us for Powersports Finance Summit 2019, October 23-24, at the Hilton San Diego Bayfront. At the Summit, lenders and dealers will have the opportunity to learn new information that will help their business grow, discuss the latest industry data and trends, and network to form new relationships with fellow attendees and vendors. Register now at www.powersportsfinance.net.

Matthew Wood

Matt Wood is the Associate Editor of PowerSports Finance, where he is responsible for covering all the latest news, trends, and innovations with powersports lenders and dealerships. Previously, Matt was a writer for Auto Finance News before switching full-time to PowerSports Finance. He is also an experienced entertainment news writer covering pop culture, movies, and TV shows. Matt received his Bachelor’s degree in Communication from Rowan University in New Jersey.

Sign up for our Email list

Sign Up