Welcome to the Tevva and ElectraMeccanica Joint Investor Conference Call. If you do not have a copy of the press release announcing the proposed merger or the related investor presentation that was posted this morning and filed with the U.S. Securities and Exchange Commission on Form 8-K, you will find them on the investor relations section of our website at ir@emvauto.com. During the course of this call, we may make forward-looking statements within the meaning of U.S. federal securities laws and applicable Canadian securities laws, which are subject to risks and uncertainties that could cause actual results to differ materially. All forward-looking statements are made as of the date of this call, and except as required by law, we undertake no obligation to update any forward-looking statements made on this call. Please refer to today's press release, the related investor presentation, and ElectraMeccanica's filings with the SEC for a detailed discussion of certain of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today. With that, I'll turn to Susan Docherty, ElectraMeccanica's CEO. Hello, everyone. My name is Susan Docherty, and I want to thank you for joining us today to discuss this exciting moment in time, the proposed merger between Tevva and ElectraMeccanica. Today, I'm joined by Tevva's board director and anticipated incoming executive chairman of the proposed combined company, David Roberts, who will offer further insights on the acquisition in just a moment. Welcome, David. I'm glad you're here. As we begin, I want to extend my sincerest appreciation to all our stakeholders across both companies for coming with us on our respective journeys as we define a transformative new path towards accelerated growth and ultimately towards scaled, profitable electric vehicle manufacturing. We're enthusiastic to share how we're going to execute and convert on that change together. In service of this point about change that leads to powerful growth, I want to strongly encourage all our stakeholders, and especially ElectraMeccanica's longtime shareholders, to familiarize themselves with the many resources we've provided them about the benefits of this proposed transaction, specifically our announcement press release and accompanying CEO letter, our filings, and the recently launched microsite, tevvaandemv.com, where you can find a significant amount of detail on Tevva's zero-emission product. I also encourage listeners to kindly email any questions you may have to ir@emvauto.com. A key takeaway from those materials, which we'd like everyone to understand, the proposed combination is intended to create a market leader in zero-emission commercial vehicles. We expect to be a much larger company by 2028, potentially with over $1 billion in revenue. For ElectraMeccanica shareholders, this represents a business pivot from consumer to commercial. This is a terrific shift because it gives our business access to a well-defined, well-understood $67 billion market for electric, medium, and heavy-duty trucks based on Tevva's leading proprietary electric truck technology. Tevva has already started fleet customer deliveries, and the merger is expected to accelerate the growth they already expected in the UK and Europe. It's also expected, thanks to the ElectraMeccanica team and resources, to speed up the combined company's ability to enter the US market, which has large and growing demand from fleet operators for the class of vehicle Tevva is producing right now. Finally, before I hand it over to David, I'd like to briefly tell you a little bit more about Tevva and how ElectraMeccanica landed on the important decision to merge with such a great company. Tevva is a company based out of the U.K., founded in 2013, that has been primarily focused on the U.K. and European markets and has developed and tested a commercial-grade electric battery system that gives Tevva a first-mover advantage within the zero-emission electric, medium, and heavy-duty commercial truck market. To familiarize yourself and for simplicity's sake, Tevva currently has two products that you should be aware of. The first, which is available today, delivering to well-known, established commercial fleet customers, is a 7.5-ton battery-electric truck with unique technologies like cloud-based predictive range software, responsible battery chemistry, and battery management systems developed in-house and focused on urban routes. This product was field-tested with over 300,000 miles of deployment in publicly traded commercial U.K. fleets since 2019. Tevva's second product, which will be aimed at tomorrow's commercial fleet customers, is a 19-ton battery electric vehicle with a hydrogen range extender that currently lives in Tevva's future product portfolio that you'll be hearing a lot more about in the coming months. This breakthrough product debuted as a concept at Frankfurt's IAA show in 2022. As potentially one company, ElectraMeccanica and Tevva will be able to reshape and decarbonize the overall commercial delivery system for a zero-emission future. Together, we could help meet a huge climate imperative as well as real economic need by offering commercial vehicles that allow for safe, cost-efficient delivery of goods to businesses, while still reducing the large carbon footprint created by serving this demand using fossil fuels. The combined company operations also greatly complement one another. To name a few, ElectraMeccanica's U.S. footprint and Tevva's foothold in the U.K., our collective go-to-market and engineering expertise, our respective Mesa and Tilbury facilities, and ElectraMeccanica's balance sheet as well as public listing, alongside Tevva's commercially ready products and significant fleet customer list, while also sharing the same passion for zero emissions mobility. What does make our merger seamless will be the fact that when it comes to mission, vision, and values, we couldn't be more aligned. We discovered this from the very beginning of our relationship, best stated in Tevva's vision: We do technology because it matters and makes a difference to humanity, especially when we decarbonize and improve air quality in cities around the globe. At ElectraMeccanica, we concur with that statement, which aligns with our mission, where we provide ingenious electric mobility solutions for a world in need. We both can continue in the combined company being on the march towards zero emissions. I'm now going to hand it over to Tevva's chairman, David Roberts, to provide his commentary on this exciting merger and its clear growth potential across both businesses. David, over to you. Thank you for kicking things off, Susan. We are thrilled to be here today. Let's get into the details of the proposed merger and what this actually means for all our, our investors. Firstly, I also want to acknowledge the journey that we have taken over the past 8 months, and as importantly, highlight the concrete progress we have made that sets us up for success going forward. At the start of the year, we became the very first UK truck company to gain European Whole Vehicle Type Approval for our 7.5-ton battery-electric truck. We then became only the 3rd vehicle to be approved by the UK government's Zero Emission Commercial Vehicle Incentive Scheme, and we formally commenced our production at our brand new UK facility in Tilbury. Since then, our cutting-edge engineering team has accumulated data from thousands of miles of real-world testing to further prove the reliability of our product. We have generated revenues from initial customer deliveries to such customers as Connexia Logistics, TG Lynes, and the University of Warwick. We all saw the challenges in the public markets over the last 18 months with the downturn in the market, so we made hard but necessary decisions. Mostly, we streamlined operations, staff, and costs. More importantly, we continued to explore a range of strategic investment opportunities to optimize shareholder value. It quickly became clear to everyone involved with that ElectraMeccanica was the right partner to take the company to the next level. We are extremely confident that the proposed transaction will yield meaningful benefits for both sides. Simply, 2 companies with mutually beneficial assets are greater than the sum of the parts. Tevva has identified assets from ElectraMeccanica that are expected to enhance the total assets of the combined company. This combination of differentiated, tested engineering, newly launched vehicles, and a clearly addressable revenue opportunity matched exactly with our own goals and resources. To put it bluntly, our operations really complement one another. ElectraMeccanica's U.S. footprint, with Tevva's experience in the U.K. and E.U., our go-to-market and engineering expertise, their Mesa and our Tilbury facilities, and ElectraMeccanica's balance sheet, as well as a public listing, alongside all of our commercially ready products and a significant customer list. Together, the two businesses will be able to accelerate faster to scaled, innovative, and differentiated electric vehicle production. Let's also talk about another very important component, ESG. Within the transportation sector, medium and heavy-duty trucks, which is an estimated $170 billion market, are responsible for an estimated 22% of all CO2 emissions. That's more than shipping and aviation combined. In addition to helping the commercial trucking industry reduce their carbon footprint, Tevva has a deep commitment to decreasing its carbon footprint, and driving sustainability underpins everything that we do. Tevva deploys production and consumption procedures that promote savings in natural resources. It's actively working towards reducing single-use packaging for components, increasing the use of alternative materials with lower environmental impact, and demanding better recyclability for materials and packaging. Ultimately, the company strives for resource efficiency to limit environmental impact. As a combined company, Tevva and ElectraMeccanica would continue making the tough but necessary decisions to work towards a net zero emission. ElectraMeccanica also fills a number of gaps that we had hoped to address through strategic investment and should give us the means to bolster our team and accelerate our growth ambitions. Upon the closing of the proposed transaction, ElectraMeccanica shareholders will own 23.5% of the combined company, and Tevva shareholders will own 76.5% of the combined company on a fully diluted basis. Thank you to our investors, and for your continued support and for joining us today. I'm now going to hand it back over to Susan for closing remarks. Thank you. Thank you, David, and thanks to all of you for listening today. This is a proud moment in the history of both Tevva and ElectraMeccanica. We've had a chance to meet with some of our investors already, but we are genuinely looking forward to getting to know more of you as we embark on this next chapter. In conclusion, I want to reiterate a few key points and also highlight a few additional commitments to our shareholders and other stakeholders. First, this proposed merger is expected to accelerate meaningful business growth against accepted, incentivized demand above what each business could achieve alone. Second, our business footprints are complementary, and Tevva is already delivering commercial vehicle products to fleet customers today. Finally, I want to extend my sincerest appreciation to everyone at both companies for their patience and dedication during the period of change we've experienced over the past several months. A merger across countries and continents takes a significant amount of work. A small army of very talented individuals, both inside and outside our respective companies, worked tirelessly to bring this proposed merger to fruition. You have our commitment to working hard to ensure that the financial and operational machinery is in place to support our strategy and growth, and we appreciate your confidence. I'm encouraged as I look forward to 2024 and beyond. We have great momentum with a terrific product that is delivery ready, with a focused team that is dedicated to delivering on our mission for decarbonizing commercial fleets and improving air quality. We couldn't be more excited to speak with our shareholders about this union. Lastly, I encourage listeners to kindly email any questions you may have to ir@emvauto.com. We appreciate your time today and look forward to continuing the dialogue.
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