Electrameccanica Vehicles (NASDAQ:SOLO) is in the news Thursday after a strong day saw massive gains for SOLO stock.

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Here’s all the news investors need to know about Electrameccanica Vehicles.

• The Canadian company builds electric vehicles (EV).
• This sets it as a rival for Tesla (NASDAQ:TSLA) and Nikola Motors (NASDAQ:NKLA).
• However, unlike those two, the company has a bit of a smaller focus.
• Its flagship car is the Solo, which is a three-wheel EV that only seats one person.
• Rather than focus on larger luxury vehicles that can carry more people, the company is focused on the experience of the individual.
• Electrameccanica Vehicles argues that millions of people commute to work alone every day and could make use of the smaller vehicle.

• The Solo has a range of 100 miles, can reach a top speed of 80 mph, has a charge time of 2.5 hours and can go from 0 mph to 60 mph in 10 seconds.
• While it may have a focus on smaller cars, that doesn’t mean Electrameccanica Vehicles is skipping out on features with the Solo.
• It contains a heated seat, Bluetooth stereo, and a rear-view camera.
• The company also boasts that the car features 99% fewer parts than a traditional combustion vehicle.
• It claims that this allows owners to travel without having to worry about the normal maintenance that goes into owning a typical car.

SOLO stock was up 5.1% after-hours Thursday and was up 34.3% at the end of normal trading hours.

As of this writing, William White did not hold a position in any of the aforementioned securities.