EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (NASDAQ: FUV) — makers of the Fun Utility Vehicle® (FUV®) — an affordable, practical, and thrilling pure electric vehicle for everyday commuters and fleets, yesterday participated in a Closing Bell Ceremony from the Nasdaq MarketSite in Times Square to celebrate the six-month anniversary of the Company’s Reg A+ IPO and subsequent Nasdaq listing. Founder and President Mark Frohnmayer and a cadre of Arcimoto executives, investors and team members were present in the nationally televised event, which took place yesterday at 4:00 p.m. EDT in New York City. The event followed Arcimoto’s presence at the New York International Auto Show Press Days that took place at the Javits Center from March 28-29, 2018.
Starting from a napkin sketch in 2007, Arcimoto’s decade-long journey to help catalyze the shift to a sustainable transportation system was celebrated by attendees at the Closing Bell Ceremony, where Arcimoto showcased the first-ever production Signature Series FUV to roll off the floor of the Arcimoto Manufacturing Plant.
Recent Arcimoto Milestone Highlights:
- September 21 – Arcimoto lists on Nasdaq after a public $19.2 million raise
- September 28 – Arcimoto hires new Chief Operating Officer and new Materials Director
- October 1 – Arcimoto begins lease of 30,000 sq. ft. manufacturing plant in Eugene, OR
- November 9 – Arcimoto takes early delivery of key high-capacity manufacturing equipment
- November 11 – Arcimoto commemorates grand opening of new manufacturing plant
- November 28 – Arcimoto presents the Fun Utility Vehicle at AutoMobility LA and LA Auto Show
- November 30 – Arcimoto delivers Signature Series FUV #0 to Arcimoto Founder
- December 17 – Arcimoto delivers to first external paying customer Nathan Fillion
- January 7 – Arcimoto presented the first FUV Signature Series vehicle to the world at CES 2018 in Las Vegas
- February 14 – Arcimoto signs a 100-vehicle FUV fleet partnership with Hula Holdings to be showcased at the “Gas Station Of The Future”
- February 21 – Arcimoto launched with MZ Group to further support its shareholder and investor relations
- March 9 – Arcimoto finished production of Orange, the first of 5 company marketing vehicles based on the Signature Series platform
- March 11 – Arcimoto invited to and presented at the Roth Conference, the largest global micro-cap conference
Arcimoto’s key focus areas for the remainder of the year are to finish delivery of its Signature Series FUVs, release fleets of Beta and Pilot Series vehicles, begin production and delivery of Retail Series FUVs to its more than 2,400 pre-order customers and launch its first in-market vehicle experience centers.
“Ringing the closing bell at the Nasdaq MarketSite yesterday was a once-in-a-lifetime experience that none of us will ever forget,” said Mark Frohnmayer, President and Founder of Arcimoto. “We are incredibly grateful to the thousands of retail investors who believe in and have supported our long-term mission and the success of the Arcimoto brand. It has been an epic 10-year journey from Arcimoto conceptualization to fruition, and we are thrilled to begin to truly deliver on the vision.”
This recent update from the Company showcases both Arcimoto’s accomplishments since its September 21, 2017 debut on NASDAQ, and how it is moving expeditiously towards significant vehicle production.
Next Up:
Arcimoto executives will be attending the annual MicroCap
Investor Conference on April 9-10, 2018 in New York City.
About Arcimoto:
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
with a target base model purchase price of approximately $11,900,
Arcimoto’s Fun Utility Vehicle is one of the lightest, most affordable,
and most appropriate electric vehicles suitable for the daily driver.
For more information please visit www.arcimoto.com.
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. 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
effectively execute on our growth strategy; our ability to design,
manufacture and market vehicle models within projected timeframes; the
number of reservations and cancellations for our vehicles and the
ability to deliver on those reservations; our reliance on key personnel;
our ability to manage the distribution channels for our products,
including our ability to successfully implement our direct to consumer
distribution strategy and any additional distribution strategies we may
deem appropriate; 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; and changes in laws or
regulations governing our business and operations. 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.
