Wednesday, October 25, 2017

Arcimoto (NASDAQ: FUV) Prepares to Roll Out ‘Fun’ Eco-Friendly Platform

  • Three-wheeled FUV can reach 85 mph, accelerating from 0 to 60 in 7.5 seconds
  • New Eugene, Oregon, manufacturing plant will celebrate grand opening on November 11
  • Debuted on Nasdaq exchange in September with 1,821 customer pre-orders already in place as of first investor call
The manufacturer of a popular new “sustainable mobility” electric vehicle dubbed the Fun Utility Vehicle, or FUV, is gaining attention in urban markets following the rollout of its three-wheeled eco-friendly platform.
Arcimoto Inc. (NASDAQ: FUV) has spent a decade developing the FUV as an affordable means of transportation that can operate at normal road speeds and help to cut through city traffic, all in a vehicle that’s designed to preserve the riders’ safety while delivering a light impact on the environment.
“I thought if we could build something that was much closer to the motorcycle in terms of efficiency and fun factor and footprint on the road, but was close to the car in terms of capabilities and encloseable and carries groceries and stable, that we’d have a real product opportunity that the world has been missing for a long time,” Arcimoto founder and CEO Mark Frohnmayer told Reuters.
The FUV SRK model can reach 85 mph and accelerate from 0 to 60 in 7.5 seconds. It has a range of 70 miles before recharging, and its fuel consumption is comparable to 230 miles per gallon, according to Frohnmayer.
The frame offers open-air visibility but has an attachable-detachable shell to enclose riders during inclement weather.
Arcimoto took possession of its 30,000-square-foot Eugene, Oregon, manufacturing plant on October 1 and plans a grand opening on Saturday, November 11, to celebrate the culmination of a decade of prototype development on the road to large-scale production.
The company debuted on the Nasdaq exchange in September as a Regulation A+ IPO built on a highly successful crowdfunding campaign, and it expects that, by the end of 2018 or early 2019, it will launch its pilot fleet vehicles while beginning retail manufacturing at the Phase 1 production facility.
At Arcimoto’s first public investor call on September 28, Frohnmayer said the company already had 1,821 customer pre-orders. Customers exist in every state, but are clustered in states such as Oregon, California, Florida, New York, Texas, New Jersey and Washington, he said.
“We are on the cusp of full production, are building arguably the most efficient everyday electric vehicle company in human history and will begin delivering Fun Utility Vehicles to paying customers, some who’ve waited for many years, next quarter,” Frohnmayer said during the investor call.
For more information, visit the company’s website at www.Arcimoto.com
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