Arcimoto and EVMoto Launch FUV and Roadster Rentals in Sarasota, Florida

Rhea-AI Summary

Arcimoto, Inc. (NASDAQ: FUV) has partnered with EV Moto to offer rentals of its Fun Utility Vehicles and Roadsters in Sarasota, Florida. This initiative expands Arcimoto's rental locations, now totaling nine across the U.S., including popular tourist spots. Lynn Yeager, Chief Experience Officer, emphasized the opportunity for locals and tourists to enjoy unique electric adventures, enhancing brand awareness. Barry Moffit of EV Moto highlighted the suitability of Arcimoto vehicles for exploring the area's attractions, making for memorable experiences.

Positive

• Expansion of rental locations to Sarasota, enhancing accessibility to electric vehicles.
• Partnership with EV Moto increases brand awareness in a vibrant tourist market.

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• None.

EUGENE, Ore., July 07, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.^® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, and EV Moto today announced that Arcimoto Fun Utility Vehicles and Roadsters are now available to rent in Sarasota, Florida.

“Sarasota is such a vibrant and rich city with so much to do and see, and we’re thrilled to offer tourists and locals alike a chance to ride the pure-electric FUV and Roadster,” said Lynn Yeager, Arcimoto Chief Experience Officer. “Our rental partnership with EV Moto represents another milestone in our destination rental strategy, driving brand awareness and providing an unforgettable electric adventure unlike anything else on the road today.”

“Arcimoto EVs are perfect for exploring Sarasota, from Siesta Key to St. Armands Circle, Anna Maria Island and Longboat Key and of course the city’s vibrant downtown districts,” said Barry Moffit, owner of EV Moto. “No matter where our customers decide to go, they will be in for the ride of their lives.”

EV Moto is the ninth Arcimoto rental location, with rentals also available in San Francisco, San Diego, Santa Monica, Key West, Marco Island, Florida, Fort Lauderdale, Florida, San Juan Island, Washington, and Eugene, Oregon. For more information, visit Arcimoto.com/rent and reserve your ride at EVMotoSarasota.com.

For the latest stakeholder update, check out our RAMP IT UP presentation. Follow Arcimoto on YouTube, Facebook, Instagram, Twitter, TikTok, and LinkedIn. Investor information about the company, including press releases, stakeholder webcast replays, and more can be found at http://arcimoto.com/ir.

About Arcimoto, Inc.
Arcimoto is a pioneer in the design and manufacture of rightsized, ultra-efficient, incredibly fun electric vehicles for everyday mobility. Built on the revolutionary three-wheel Arcimoto Platform, our vehicles are purpose-built for daily driving, local delivery, and emergency response, all at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Based in Eugene, Oregon, the Arcimoto team is dedicated to creating world-class EVs that make the world a better place. For more information, please visit 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 vehicle 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 manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional 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 inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; 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.

Public Relations Contact:
Megan Kathman
(651) 785-3212
pr@arcimoto.com

Investor Relations Contact:
investor@arcimoto.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4430dfeb-1724-486f-bec2-07502d9ae98e

FAQ

What is the significance of Arcimoto's rental partnership with EV Moto in July 2022?

The partnership allows Arcimoto to expand its rental offerings to Sarasota, Florida, enhancing brand visibility.

How many rental locations does Arcimoto currently have?

Arcimoto has a total of nine rental locations across the United States.

What types of vehicles are available for rent from Arcimoto?

Arcimoto offers Fun Utility Vehicles and Roadsters for rent.

What benefits do Arcimoto rentals provide to customers in Sarasota?

Customers can explore key attractions in Sarasota while enjoying a unique electric vehicle experience.

When was the announcement made regarding Arcimoto's rentals in Sarasota?

The announcement was made on July 7, 2022.