Tevva and ElectraMeccanica agree to resolve merger dispute without legal action
By Bradley Osborne - 4th December 2023
UK – Tevva Motors Ltd, a manufacturer of electric trucks based in Tilbury, UK, has announced that it has agreed with ElectraMeccanica Vehicles Corp of Mesa, Arizona, USA to resolve their disputes over the collapse of a merger deal without recourse to the courts.
Tevva signed an agreement in August to merge with the American company, which was known for its battery electric three-wheeler, ‘Solo’ (recalled at the end of last year following numerous issues). In October, ElectraMeccanica unilaterally terminated the merger deal, alleging “multiple incurable breaches” of the agreement by Tevva. The British firm issued a riposte in which it denied the other’s allegations. Both companies resolved to take legal action.
