The aborted merger between ElectraMeccanica Vehicles Corp. and Britain’s Tevva Motors Ltd. appears headed to court.
Senior members of the ElectraMeccanica’s executive team spent several weeks at Tevva’s Tilbury, England, facility, it added. The company, still incorporated in British Columbia though its operations are now based in Mesa, Ariz., announced Oct. 4 it was unilaterally cancelling the merger. The merger, announced just last August, was to be an all-stock deal that gave Tevva roughly three-quarters ownership of the combined company, with ElectraMeccanica shareholders holding about 23.5 per cent. Company CEO Susan Docherty, a former GM executive, was to be the new company’s chief executive.