Roth positive on ElectraMeccanica’s proposed merger with Tevva

Roth MKM analyst Craig Irwin is “positive” on the proposed merger between Electrameccanica and U.K. EV truck maker Tevva as the firm sees “obvious synergies.” The firm sees federal support of $40,000 per truck expected under the IRA and Tevva’s nearly one million miles of real-life testing as “features of a compelling match” for Electrameccanica’s market pivot, says the analyst, who has a Neutral rating on Electrameccanica shares and raised the firm’s price target to 75c from 60c.