As the global electric-vehicle (EV) market comes into its own, a number of companies are on the trading community’s radar now. Electrameccanica Vehicles (NASDAQ:SOLO) has garnered some attention lately, as has SOLO stock as a unique and interesting way to invest in the burgeoning EV-manufacturing industry.

As we will explore momentarily, Electrameccanica’s flagship vehicle, known as the Solo, is highly unusual. That’s a polite way of putting it as some observers might call it downright bizarre. But then, I’m sure some people called Tesla (NASDAQ:TSLA) CEO Elon Musk’s ideas bizarre as well.

Yet, at least most of Tesla’s electric vehicles look fairly normal and can hold multiple passengers. In contrast, Electrameccanica’s vision with the Solo vehicle is almost otherworldly. It’s either too bizarre for mainstream adoption or a brilliant idea whose time has come.

Are you truly prepared to take a chance on this? Join me as we take a closer look at the company, and the stock, that might or might not transform the EV market.

A Closer Look at SOLO Stock

It’s probably fair to say that the same catalyst that powered Nikola (NASDAQ:NKLA) and Nio (NYSE:NIO) to fresh short-term highs recently also provided a boost to SOLO.

Of course, I’m referring to the astounding bull run in TSLA stock. The bulls were shocked and delighted as TSLA ascended to $1,000 and then $1,500 so quickly in June and July.

It appears that TSLA’s move inspired eager traders to jump on the bandwagon and gobble up shares of anything and everything connected with the EV market. One has to wonder whether stock traders in SOLO have actually looked at the company’s rather unusual vehicles.

Nevertheless, there’s no denying that the bulls remain fully in control of the price action. The SOLO share price rocketed from $1 in May to the $6 in early June.

After that, the stock cooled off and retraced to $4 and change in early July. The bulls will definitely want to see the daily trading volume and share price pick up again before the momentum is lost.

Going Solo

The Solo is, in all likelihood, like no other you’ve seen in your neighborhood. Electrameccanica describes it as “a purpose-built three-wheeled solution for the modern urban environment”. The company further characterizes the Solo as blending “a cool, modern look with state-of-the-art technology at an attractive price point.”

A manufacturer’s suggested retail price of $18,500 does, at first glance, seem like a pretty “attractive” price point.  But it is, really? The foregoing description omitted a tiny little detail about the Solo: it only has room for one person.

That’s right: the Solo, true to its name, is a “one-seater.” With true advertorial flair, Electrameccanica manages to spin this limitation as a benefit: “Engineered for a single occupant, it offers a unique driving experience for the environmentally conscious consumer.”

The Solo, then, takes modern individualism to an extreme as Electrameccanica wagers on the “one car per person” concept. Plus, along with the solipsistic driving experience, Solo drivers would have to accept the reality that they’re driving a highly unusual-looking vehicle.

Weird but Cool

Electrameccanica claims that as a Solo owner you can “Keep all the perks of your full-sized car.” However, that claim simply doesn’t ring true. Isn’t having plenty of trunk space a “perk”? And what about the ability to take passengers with you?

Moreover, you’d be driving a vehicle that will attract a lot of attention because it’s rather odd-looking. The Solo has three wheels with two in the front and one in the back. From certain angles it looks like an incomplete car, as if it came off the assembly line unfinished.

Still, to be fair and balanced, let’s acknowledge some of the Solo’s more interesting features:

• A range of 100 miles as well as a top speed of 80 miles per hour (so it can be safely driven on highways)
• Front and rear crumple zones, plus side impact protection
• Roll bar
• Charge time of 2.5 hours
• Bluetooth entertainment system

Whether all of that can offset the Solo’s inherent limitations remains to be seen. Ultimately, this will be decided by the fickle pool of automotive consumers.

The Bottom Line

So far, the upward momentum in SOLO stock seems to be a function of TSLA’s bull run. Only highly risk-tolerant investors should take a stake in Electrameccanica now as the Solo may be too unique and impractical for the typical car buyer.

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