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U.S. Space Fence Detects Debris from India Anti-Satellite Test

KWAJALEIN ATOLL, Marshall Islands, May 22, 2019 /PRNewswire/ — The U.S. Air Force Space Fence system detected the breakup field from an anti-satellite test conducted by India during a scheduled endurance exercise of the new space surveillance radar.

As MICROSAT-R was expected to pass through the un-cued surveillance fence, Space Fence automatically issued a “breakup alert” indicating there were multiple objects within close proximity. Space Fence observed a significant amount of debris tracks surrounding the time of the event crossing labeled as uncorrelated targets. Long-arc tracking was initiated within the orbital debris cloud to form accurate initial orbit determinations. With this information, the system was able to automatically predict and correlate the next crossing time.

Lockheed Martin (NYSE: LMT) system operators then prepared for the next crossing by setting up an enhanced sensitivity task volume ahead of the normal un-cued surveillance fence to increase the low altitude track duration. Although the Space Fence is currently in its test phase and not yet operational, the Space Fence un-cued surveillance coverage showed its unique ability to observe these events unfolding at different altitudes in real time. Although the anti-satellite test was conducted at approximately 300 kilometers, the debris cloud extended beyond the original parent object orbit.

“Although the Space Fence system is still under test, it continues to demonstrate its advanced capabilities providing operationally-relevant information in all orbital regimes from Low Earth Orbit through Geosynchronous Earth Orbit,” said Dr. Rob Smith, vice president and general manager of Radar and Sensor Systems for Lockheed Martin. “The criticality of space assets to both national defense and the world economy cannot be understated. As multiple new mega constellations consisting of thousands of satellites become a reality and the space domain continues to become more congested, the demand for more accurate and timely space situational awareness data will be of the utmost importance to the warfighter.”

The Space Fence system continues to track objects from the anti-satellite event through the government-led testing phase which began in early April.

Colonel Stephen Purdy, Director of the Space Superiority Systems Directorate, Space and Missile Systems Center, Los Angeles Air Force Base, who oversees the Space Fence program said, “Space Fence is already proving itself as a capable system even before becoming operational. The Indian test showcased Space Fence’s capabilities in a real-world event. The system was able to quickly respond to a highly dynamic situation providing critical data. Space Fence is the latest in a long line of capabilities we are collectively bringing to the warfighter as we continue to build out space capabilities for the United States.”

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Aerial view of Space Fence facility in Kwajalein Atoll. Lockheed Martin photo

SpaceX Sues U.S. Air Force Over Rocket-Building Contracts

ORLANDO, Fla. (Reuters) – Billionaire Elon Musk’s SpaceX accused the U.S. Air Force of breaking contracting rules when it awarded money to three rocket makers but passed on Musk’s rival bid, and said the tender should be reopened, according to a court filing unsealed on Wednesday.

In the complaint, Space Exploration Technologies Corp said contracts were awarded for three “unbuilt, unflown” rocket systems that would not be ready to fly under the government’s timeline, “defeating the very objectives” outlined by the Air Force’s program.

SpaceX asked the court to force the Air Force to reopen the $2.3 billion Launch Service Agreements competition and reconsider the Hawthorne, California-based company’s proposal.

The agreement is part of a Department of Defense initiative to assure constant military access to space and curb reliance on Russian-made RD-180 engines.

In the watershed race for dominance in the space industry, new entrants including SpaceX and billionaire Jeff Bezos’ Blue Origin, compete for lucrative contracts for military launch services. The arena has been long dominated by incumbents like Boeing Co-Lockheed Martin Corp’s United Launch Alliance (ULA).

ULA was granted $967 million under the program for developing its heavy-lift Vulcan rocket, Blue Origin won $500 million for its New Glenn rocket, and Northrop Grumman Corp was awarded $791.6 million for its OmegA rocket development.

In separate court filings this week, all three companies argued they should be parties to the lawsuit because of their direct financial interest in its outcome.

A SpaceX spokesperson said the company sued to “ensure a level playing field for competition.”

Representatives for the Air Force and ULA did not immediately respond to requests for comment. Blue Origin declined to comment.

SpaceX’s complaint was filed with the U.S. Court of Federal Claims last Friday under seal, along with a request for the court to keep the proceedings secret under a protective order, citing proprietary information. A redacted complaint was filed Wednesday.

SpaceX alleged the Air Force broke contracting rules on five different counts and asked the court to halt deliveries of the award to the three companies and force a re-evaluation of the proposals.

The Air Force rejected a formal objection from SpaceX in April regarding the terms of the awards.

SpaceX has sued the government over contracts before, most prominently in 2014 to protest a multibillion-dollar, non-compete contract for 36 rocket launches to United Launch Alliance. It dropped the lawsuit after the Air Force agreed to open up the competition.

(Reporting by Joey Roulette in Orlando, Florida; Editing by Eric M. Johnson and Richard Chang)

FILE PHOTO: SpaceX headquarters is shown in Hawthorne, California, U.S. September 19, 2018. REUTERS/Mike Blake/File Photo

Hellenic Navy Receives First Updated P-3 Orion Patrol Aircraft

Leaders from the Greece Ministry of National Defense; Hellenic Air Force, Navy and Army; Lockheed Martin and Hellenic Aerospace Industries participated in a ceremony for the delivery of the first modernized P-3 Orion. (Photo special to Lockheed Martin)

ATHENS, Greece, May 17, 2019 – Representatives from the Hellenic Navy, Lockheed Martin (NYSE: LMT) and Hellenic Aerospace Industry (HAI) hosted a ceremony on today at HAI’s facility near Athens, Greece, for the delivery of the first P-3B maritime patrol aircraft (interim solution aircraft) as part of the Hellenic Navy P-3B maritime patrol aircraft mid-life upgrade and modernization program implementation.

The event was attended by senior leaders from the Greek government and the Hellenic ministry of National Defense, the Hellenic Navy and Air Force, as well as representatives from the U.S. Embassy in Athens, Lockheed Martin and HAI. Local government officials also attended the ceremony.

The government-to-government agreement between the United States and Greece was announced in 2015, providing for the re-activation of one Hellenic Navy P-3B Orion maritime patrol aircraft, which is the aircraft delivered today. This agreement also includes the modernization of four Hellenic Navy P-3B aircraft through the Mid-Life Upgrade (MLU) Program.

MLU kits provide an extension of service life by 15,000 flight hours. In addition, this contract provides for phased depot maintenance; a Greece indigenous mission integration and management system; new avionics; and other ancillary hardware and services.

Evangelos Apostolakis, Greece’s minister of National Defense (MoD), welcomed the delivery of the first interim solution P-3B Maritime Patrol Aircraft of the Hellenic Navy and underlined the operational benefits of their upgrading program of at a national and international level. The MoD stated that this program meets the optimal cost-effectiveness solution, underlining at the same time its contribution to the reinforcement of the domestic defense industry.

The P-3 Orion is the model in maritime patrol and reconnaissance aircraft, and is used for homeland security, anti-piracy operations, humanitarian relief, search and rescue, intelligence gathering, antisubmarine warfare and, recently, to assist in air traffic control and natural disaster relief support. The Hellenic Navy operated the P-3 fleet for 15 years.

“The Hellenic Navy needed enhancements and improvements for its maritime patrol aircraft. The delivery of this first aircraft will cover, initially, an operational requirement of vital importance, while the Hellenic Navy prepares for the delivery of the fully modernized P-3s in the coming years,” said Rear Adm. Nikolaos Tsounis, chief of the Hellenic Navy General Staff.

Work on the Hellenic Navy P-3s is performed at HAI facilities in Greece, as well as at Lockheed Martin’s facilities in Marietta, Georgia, and Greenville, South Carolina. Lockheed Martin is the Original Equipment Manufacturer (OEM) of the P-3 Orion.

“Today we are especially proud as the delivery of this first aircraft, represents an important step in enhancing Greece’s maritime patrol capability. The P-3 MLU and Avionics Modernization Program provides state-of-the-art operational advantages to the Hellenic Navy to not only support present mission requirements, but future ones as well,” said Karmyn Norwood, vice president of International Programs for Air Mobility & Maritime Missions at Lockheed Martin. “This program also exemplifies the power of partnership, from the support of the U.S. Navy and the Hellenic Navy to the outstanding work delivered by the HAI team. Together, we provide the best resources and value to Greece.”

The domestic defense industry in Greece is providing 30 percent of the overall program value, drawing considerable industrial, financial and technological benefits for the autonomous operation and support of the specific weapon system.

“Through this program, the Hellenic Aerospace Industry was given the opportunity to participate in a program of high technical and operational value,” said Zacharias Gikas, chairman of the HAI Board of Directors. “HAI salutes the delivery of this first aircraft as a significant achievement in the effort for a successful program integration. HAI management and employees will continue to effectively work together in delivering the best possible results to the Hellenic government and the Hellenic Navy.”

Find out more about the P-3 Orion here: http://www.lockheedmartin.com/P3

Lockheed Martin to Develop Modular Guided Rocket Pods

DALLAS, May 15, 2019 – The U.S. Army awarded Lockheed Martin a $10.5 million contract to develop a new modular pod for Guided Multiple Launch Rocket System (GMLRS) rockets. The new pods will replace the depleting inventory of M26 rocket pods and support the increased production of GMLRS rounds.

The modular pod is designed to allow for reloading of individual rocket tubes as they are expended, whereas the original GMLRS pods are discarded after use. The pod will be able to fire the GMLRS Unitary and Alternative Warhead variants, as well as the developmental Extended-Range GMLRS rockets and future rounds.

“The new pods will be compatible with both the High Mobility Artillery Rocket System (HIMARS) and MLRS M270 family of launchers,” said Gaylia Campbell, vice president of Precision Fires and Combat Maneuver Systems at Lockheed Martin Missiles and Fire Control. “These new pods will improve reload operations and assure our warfighters have adequate rounds available to them when they are most needed.”

The modular pods will be produced at Lockheed Martin’s Precision Fires Center of Excellence in Camden, Ark. Ground testing will begin this fall, with a planned flight test before the end of the calendar year. The first deliveries of the new modular pod are anticipated in the fall of 2021.

For more than 40 years, Lockheed Martin has been the leading designer and manufacturer of long-range, surface-to-surface precision strike solutions, providing highly reliable, combat-proven systems like MLRS, HIMARS, the Army Tactical Missile System (ATACMS) and GMLRS to global customers.

For additional information, visit our website: http://www.lockheedmartin.com.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Lockheed Martin Raises 2019 Profit Forecast, Shares Jump

FILE PHOTO: Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, October 23, 2018. REUTERS/Benoit Tessier/File Photo

(Reuters) – Lockheed Martin Corp reported a better-than-expected 47 percent jump in quarterly profit on Tuesday and raised its annual profit forecast, helped by strong demand for its missiles and fighter jets, sending its shares up more than 5 percent in pre-market trading.

U.S. weapons makers have been expected to benefit from stronger global demand for fighter jets and munitions and higher U.S. defence budgets in fiscal 2020 as they announce first quarter earnings this week.

Lockheed’s Missiles and Fire Control business, which makes missile defences like the Terminal High Altitude Area Defence (THAAD), was one of its best-performing units.

On April 1, the unit was awarded a THAAD interceptor missile contract worth $2.4 billion, some of which are slated to be delivered to Saudi Arabia, which could boost earnings for the current quarter.

Overall, the Bethesda, Maryland-based company said its earnings rose to $1.70 billion, or $5.99 per share, in the first quarter ended March 31, from $1.16 billion, or $4.02 per share, a year earlier. That was partly helped by a $75 million dollar boost from additional tax deductions on foreign military sales.

Excluding that one-time gain, Lockheed reported $5.73 per share profit, well ahead of the $4.34 per share that Wall Street had expected, on average, according to IBES data from Refinitiv.

Lockheed’s overall net sales for the quarter rose 23 percent to $14.34 billion. The company’s sales backlog grew to $133.5 billion, up 3 billion over the quarter.

Operating margins at the aeronautics division, Lockheed’s biggest, fell to 10.5 percent in the first quarter from 10.8 percent a year earlier, but sales were up 27 percent to $5.5 billion on demand for the F-35 jet and some classified contracts.

The United States is considering expanding sales of Lockheed-made F-35 fighter jets to five new nations including Romania, Greece and Poland as European allies bulk up their defences in the face of a strengthening Russia, a Pentagon official told Congress in early April.

(Reporting by Mike Stone in Washington D.C. and Sanjana Shivdas in Bengaluru; Editing by Shinjini Ganguli and Bill Rigby)

Sikorsky-Boeing SB>1 DEFIANT Helicopter Achieves 1st Flight

WEST PALM BEACH, Fla., March 21, 2019 – The Sikorsky-Boeing SB>1 DEFIANT™ helicopter achieved first flight today at Sikorsky’s West Palm Beach, Fla., site. This revolutionary aircraft, developed by Sikorsky, a Lockheed Martin Company [NYSE: LMT], and Boeing [NYSE: BA], will help inform the next generation of military helicopters as part of the U.S. Army’s Future Vertical Lift program.

View the video.

“The design and development of DEFIANT has revealed the capability advancement that is truly possible for Future Vertical Lift,” said David Koopersmith, vice president and general manager, Boeing Vertical Lift. “Clearly, the performance, speed and agility of DEFIANT will be a game changer on the battlefield and we look forward to demonstrating for the U.S. Army the tremendous capabilities of this aircraft.”

With its two coaxial main rotors and a rear mounted pusher propulsor, DEFIANT is unlike production rotorcraft available today. It represents a leap forward in technology to achieve the U.S. government’s desire for vast increases in speed and range while improving maneuverability and survivability in a cost-effective way. DEFIANT aircraft’s use of X2™ Technology will allow the Army to penetrate from strategic standoff and exploit gaps created in complex Anti-Access Area Denial systems against near-peer adversaries.

“DEFIANT is designed to fly at nearly twice the speed and has twice the range of conventional helicopters while retaining the very best, if not better, low-speed and hover performance of conventional helicopters,” said Dan Spoor, vice president, Sikorsky Future Vertical Lift. “This design provides for exceptional performance in the objective area, where potential enemy activity places a premium on maneuverability, survivability and flexibility. We are thrilled with the results of today’s flight and look forward to an exciting flight test program.”

The helicopter is participating in the Army’s Joint Multi-Role-Medium Technology Demonstrator program. Data from DEFIANT will help the Army develop requirements for new utility helicopters expected to enter service in the early 2030s. This flight marks a key milestone for the Sikorsky-Boeing team and is the culmination of significant design, simulation and test activity to further demonstrate the capability of the X2 Technology.

X2 Technology is scalable to a variety of military missions such as attack and assault, long-range transportation, infiltration and resupply. DEFIANT is the third X2® aircraft in less than 10 years.

For more information, visit http://www.lockheedmartin.com/defiant and https://www.boeing.com/defense/future-vertical-lift/.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

About Boeing
For more information on Defense, Space & Security visit www.boeing.com. Follow us on Twitter: @BoeingDefense and @BoeingSpace.

Sikorsky HH-60W Combat Rescue Helicopters Prepare for Flight Test

Fully assembled aircraft tracking to first flight

WEST PALM BEACH, Fla., Feb. 27, 2019 /PRNewswire/ — Two fully assembled HH-60W Combat Rescue Helicopters (CRH), built by Sikorsky, a Lockheed Martin company (LMT), are preparing for their maiden flights, which will occur before mid-year at the Sikorsky West Palm Beach site in Florida.

Two HH-60W Combat Rescue Helicopters are at the Sikorsky Development Flight Center in West Palm Beach, Florida, in preparation for flight test. Photo courtesy of Sikorsky.
Two HH-60W Combat Rescue Helicopters are at the Sikorsky Development Flight Center in West Palm Beach, Florida, in preparation for flight test. Photo courtesy of Sikorsky.

Both aircraft, which are being built for the U.S. Air Force, were transported late last year to West Palm Beach following final assembly at Sikorsky’s facility in Stratford, Connecticut. The aircraft test readiness review was completed in October 2018. The CRH HH-60W flight test team is currently preparing both aircraft for flight by conducting final installation of instrumentation and ground run testing. This marks formal entry into the flight test program that culminates in Ready Assets Available (RAA), allowing the Air Force to declare Initial Operational Capability (IOC).

“Having these initial HH-60W helicopters in West Palm Beach for flight test is an exciting time for the Sikorsky team. It is the first step toward a low rate initial production decision later this year, which will allow Sikorsky to provide a constant production flow of aircraft to the warfighter,” said Greg Hames, Sikorsky director, Combat Rescue Helicopter program. “This is the point in the program when Sikorsky begins providing new aircraft into the warfighters’ hands, initiating transition to the vastly more capable and reliable HH-60W Combat Rescue Helicopter.”

The first of the two HH-60W aircraft will enter flight test with the new Tactical Mission Kit. The integration of sensors, radar, and multiple defense systems will bring added intelligence into the cockpit, enhancing pilots’ situational awareness to complete missions, which is key to improving aircraft and isolated personnel survivability. Sikorsky’s HH-60W team completed the System Configuration Test Readiness Review milestones for the Tactical Mission Kit last year.

The HH-60W hosts a new fuel system that nearly doubles the capacity of the internal tank on a UH-60M Black Hawk, giving the Air Force crew extended range and more capability to rescue those injured in the battle space. The CRH specification drives more capable defensive system, vulnerability reduction, weapons, cyber-security, environmental, and net-centric requirements than currently held by the HH-60G.

“Our team is working every day to build and deliver a superior quality helicopter to the U.S. Air Force for this critical mission,” added Hames. “Both Sikorsky and the Air Force remain committed to achieving a low rate initial production decision this year and getting this much-needed aircraft to our air men and women out in the field.”

A total of nine aircraft will be built in Connecticut during the Engineering Manufacturing Development (EMD) phase of the program ― four EMD aircraft and five System Demonstration Test Articles. The Air Force program of record calls for 112 helicopters to replace its aging HH-60G Pave Hawk helicopters.

For more information, visit www.lockheedmartin.com/crh.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Boeing Unveils Unmanned Combat Jet

AVALON, Australia (Reuters) – Boeing Co on Wednesday unveiled an unmanned, fighter-like jet developed in Australia and designed to fly alongside crewed aircraft in combat for a fraction of the cost.

The U.S. manufacturer hopes to sell the multi-role aircraft, which is 38 feet long (11.6 metres) and has a 2,000 nautical mile (3,704 kilometre) range, to customers around the world, modifying it as requested.

The prototype is Australia’s first domestically developed combat aircraft since World War II and Boeing’s biggest investment in unmanned systems outside the United States, although the company declined to specify the dollar amount.

The Australian government is investing A$40 million ($28.75 million) in the prototype programme due to its “enormous capability for exports,” Minister for Defence Christopher Pyne told reporters at the Australian International Airshow.

Defence contractors are investing increasingly in autonomous technology as militaries around the world look for a cheaper and safer way to maximise their resources.

Boeing rivals like Lockheed Martin Corp and Kratos Defence and Security Solutions Inc are also investing in such aircraft.

Four to six of the new aircraft, called the Boeing Airpower Teaming System, can fly alongside a F/A-18E/F Super Hornet, said Shane Arnott, director of Boeing research and prototype arm Phantom Works International.

“To bring that extra component and the advantage of unmanned capability, you can accept a higher level of risk,” he said. “It is better for one of these to take a hit than for a manned platform.”

The Mitchell Institute for Aerospace Studies in the United States said last year that the U.S. Air Force should explore pairing crewed and uncrewed aircraft to expand its fleet and complement a limited number of “exquisite, expensive, but highly potent fifth-generation aircraft” like the F-35.

“Human performance factors are a major driver behind current aerial combat practices,” the policy paper said. “Humans can only pull a certain number of G’s, fly for a certain number of hours, or process a certain amount of information at a given time.”

MULTI-MISSION CAPABILITIES

In addition to performing like a fighter jet, other roles for the Boeing system include electronic warfare, intelligence, surveillance and reconnaissance alongside aircraft like the P-8 Poseidon and E-7 Wedgetail, said Kristin Robertson, vice president and general manager of Boeing Autonomous Systems.

“It is operationally very flexible, modular, multi-mission,” she said. “It is a very disruptive price point. Fighter-like capability at a fraction of the cost.”

Robertson declined to comment on the cost, saying that it would depend on the configuration chosen by individual customers.

The jet is powered by a derivative of a commercially available engine, uses standard runways for take-off and landing, and can be modified for carrier operations at sea, Robertson said. She declined to specify whether it could reach supersonic speeds, common for modern fighter aircraft.

Its first flight is expected in 2020, with Boeing and the Australian government producing a concept demonstrator to pave the way for full production.

“I would say we are some years away from exports, we are probably years away from it being in operation here in Australia,” Pyne said. “It is designed to be a cheaper platform, a shield if you like around the more expensive platforms, to protect our servicemen and women who might be on a Poseidon or a Wedgetail or a F-35A.”

Australia, a staunch U.S. ally, is home to Boeing’s largest footprint outside the United States and has vast airspace with relatively low traffic for flight testing.

The Boeing Airpower Teaming System will be manufactured in Australia, but production lines could be set up in other countries depending on sales, Arnott said.

The United States, which has the world’s biggest military budget, would be among the natural customers for the product.

The U.S. Air Force 2030 project foresees the Lockheed Martin F-35A Joint Strike Fighter working together with stealthy combat drones, called the “Loyal Wingman” concept, said Derrick Maple, principal analyst for unmanned systems at IHS Markit.

“The U.S. has more specific plans for the wingman concept, but Western Europe will likely develop their requirements in parallel, to abate the capabilities of China and the Russian Federation and other potential threats,” he said.

Robertson declined to name potential customers and would not comment on potential stealth properties, but said the aircraft had the potential to sell globally.

“We didn’t design this as a point solution but a very flexible solution that we could outfit with payloads, sensors, different mission sets to complement whatever their fleet is,” she said. “Don’t think of it as a specific product that is tailored to do only one mission.”

($1 = 1.3914 Australian dollars)

(Reporting by Jamie Freed; additional reporting by Gerry Doyle; editing by Gerry Doyle)

Raytheon Wins $1.5 bln UAE Air Force Contract

ABU DHABI, Feb 18 (Reuters) – The United Arab Emirates on Monday awarded Raytheon Co. a 5.7 billion dirhams ($1.55 billion) contract to supply its air force with platform systems to launch missiles, a UAE military spokesman said.

The agreement was signed at the week-long IDEX military exhibition in Abu Dhabi and followed the award on Sunday of a 1.3 billion dirhams contract to Raytheon to supply the UAE with patriot missiles.

The UAE armed forces signed a total of 7.2 billion dirhams in contracts on Monday, including 5.8 billion dirhams with international companies, Brigadier General Mohammed al-Hassani said, speaking through a translator.

The UAE has signed a total of 12 billion dirhams in contracts since the IDEX exhibition started on Sunday, he said.

Lockheed Martin, Germany’s Diehl Defence, and Sweden’s Saab on Monday launched at IDEX the Falcon air defence weapon system, billed as a replacement to the Hawk system used by countries in the Middle East.

Falcon was developed in response to a UAE request for a replacement for the Hawk system and talks are underway to sell it to the Gulf state, Scott Arnold, Lockheed Martin’s vice-president and deputy head of Integrated Air and Missile Defense said.

Weapons sales to the UAE have come under scrutiny over the past year due to the country’s involvement in the Yemen war that has killed tens of thousands of people and pushed the country to the brink of starvation.

The UAE and Saudi Arabia are leading a military coalition, which includes local forces drawn from Yemeni factions, that is trying to restore the internationally recognised government ousted from power in 2014 by the Iran-aligned Houthi movement.

($1 US = 3.6728 UAE dirham)

(Writing by Alexander Cornwell. Editing by Jane Merriman)

Canada’s Answer to Tesla Is a $15,500 Electric 3-Wheeler

(Bloomberg) — It’s all-electric like a Tesla. It’s priced like a Ford Fiesta. It’s one of the oddest-looking vehicles you’ve ever seen — and it may just redefine the commuter car.

As General Motors Co. prepares to shut the plant near Toronto that got car-making started in Canada more than a century ago, a new model is taking shape in a tiny production facility in Vancouver’s outskirts.

Meet the Solo — a one-seater vehicle made by Electra Meccanica Vehicles Corp. that costs $15,500. By December, 5,000 will be zipping around the streets of Los Angeles, with an additional 70,000 to be delivered over the next two years across the West Coast. Electra Meccanica may have a market value of just $80 million, yet it has $2.4 billion in pre-orders. The stock almost doubled in New York Wednesday.

Click the link for the full story! https://finance.yahoo.com/news/tesla-apos-latest-competitor-15-220000179.html

The company also has designs on the 4-wheel market…

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