Arcimoto, Inc. (NASDAQ: FUV) announced today that it has begun retail production of the Fun Utility Vehicle (FUV), an affordable, practical, and joyful pure-electric vehicle for everyday commuters and fleets, and is now delivering to customers in California, Oregon and Washington.
The FUV represents a significant step toward a sustainable transportation future in which vehicles are fully electric and right-sized for the needs of everyday drivers, said Mark Frohnmayer, Arcimoto Founder and President. This is a truly significant moment for Arcimoto as we launch retail production and delivery of the Fun Utility Vehicle for the first time in the companys history.
Built in the Pacific Northwest with state-of-the-art equipment at the Arcimoto Manufacturing Plant (AMP), the FUV has a top speed of 75 mph, an EPA-rated city-driving range of 102.5 miles per charge*, 173.7 MPGe city driving fuel economy, and comes pre-loaded with heated seats, heated grips, Bluetooth speakers, removable half doors, lockable rear storage, HOV Lane access, and a Level 1 charging cable. Customers will have their choice of base and accent colors. Rockstar parking comes standard.
With an MSRP of $19,900 before gas savings, available tax credits, and rebates, the worlds first premium FUV, the Evergreen Edition is the most affordable, most efficient electric vehicle suitable for the wide range of everyday trips on the road today. Depending on location, FUV owners may also qualify for sales tax exemptions, utility rate discounts, free parking, toll discounts, insurance discounts, and other benefits.
The FUV is the first in a family of electric vehicles built on the Arcimoto Platform, which includes the Deliverator, built for local and last-mile delivery, and the Rapid Responder, designed for emergency medical services and campus security. The Company has reported a backlog of 4,128 preordered FUVs as of June 30, 2019, which is 28% greater than their 3,217 preorders at December 31, 2018.
Today, Arcimoto will host a launch event at the AMP in Eugene, Oregon at 5:30 p.m. PDT. For more information, visit Arcimoto.com/91919.
*Range estimates provided following SAE J2982 Range Test Procedure and are based on expected performance of a fully-charged battery when operated under specified conditions. Actual range will vary depending on driving style, weather, and equipment conditions.
For more information, visit Arcimoto.com.
About Arcimoto, Inc.
Headquartered and manufactured in Eugene, Oregon, Arcimoto, Inc. (NASDAQ: FUV) is devising new technologies and patterns of mobility that together raise the bar for environmental efficiency, footprint and affordability. Available for pre-order today, Arcimotos Fun Utility Vehicle, Rapid Responder, and Deliverator are some of the lightest, most affordable, and most appropriate electric vehicles suitable for everyday transport. For more information, please visit www.arcimoto.com.
Safe Harbor / Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict and include, without limitation, our expectations as to retail FUV deliveries, the establishment of our service and delivery network and our expected rate of production. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to distribute vehicles domestically and internationally to our customers; our ability to manage the distribution channels for our products, including our ability to successfully implement distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; changes in consumer demand for, and acceptance of, our products: changes in the competitive environment, including adoption of technologies and products that compete with our products; the overall strength and stability of general economic conditions and of the automotive industry more specifically; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that we file with the SEC. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation to update any forward-looking statements.
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