He didn't say why the EV3 was cancelled but reports from 2018 pointed to an issue with the supply of the powertrain from fellow British firm Frazer-Nash.
The good news is that Morgan doesn't appear to have given up on its EV ambitions, judging by some of the comments made by Wells in his interview with Autoblog.
"We learned a great deal from the EV3 program, and that's really fueling future project generations and future projects that are in play at the moment," he said. "We're keeping an eye on the future, and we'll be ready for it when it arrives."
The EV3 is based on Morgan's gasoline-powered 3 Wheeler which entered production in 2012. It was first shown at the 2016 Geneva International Motor Show but Morgan soon after ran into troubles in securing a powertrain. Frazer-Nash stepped in at the end of 2017 to bring the EV3 to life but now that won't be happening.
The most recent powertrain configuration touted by Morgan for its EV3 was an electric motor delivering 56 horsepower and drawing energy from a 21-kilowatt-hour lithium-ion battery. That doesn't sound like much but the EV3 weighed in total just 1,100 pounds.
For those upset over the lack of electric three-wheelers, the Edison 2 from America's Vanderhall can be bought today for $34,950. In this model, a pair of motors deliver 140 hp and draw energy from a 28-kwh battery. Vanderhall claims a range of up to 200 miles for its electric three-wheeler.