In a new press release, electric vehicle startup Electra Meccanica Vehicles Corporation announced that it would be honoring all deposits from customers who have pre-ordered cars from other automakers in a new initiative geared toward its SOLO EV.

The initiative will have Electra Meccanica accepting “all levels” of pre-order deposits up to $1,000 “with an equal value deposit” for the SOLO EV, once the car is delivered to said, customers. The SOLO is said to be the first all-electric, single-seat vehicle out in the market, and a vehicle that’s capable of reducing air pollution and traffic congestion while also reducing operating costs. According to the automaker’s press release, Electra Meccanica hopes to release the SOLO sometime in 2017.

“With the recent financial and production challenges faced by some of our competitors, we’ve had some of their reservation holders ask us if they could transfer their deposits over to a SOLO because of either uncertainty about their vehicle ever being produced or they just didn’t want to wait for years to get their car,” read a statement from Electra Meccanica CEO Jerry Kroll. “We wanted let others know that we will accept those deposits and provide relief for reservation holders with a suitable vehicle replacement option.”

solo-evAs the SOLO EV is a smaller car designed for fun city driving, specifically a more fun twist on the daily commute to and from work, it is only capable of a top speed of 80 mph, and a range of 100 miles driving per full charge. Still, Electra Meccanica believes that these capabilities allow the SOLO to be optimized for the daily commute.

Interested buyers can head to the SOLO website to place pre-orders or deposit transfers on the vehicle.

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