Arcimoto and Faction Reveal the D1 Next-Generation Driverless Delivery Vehicle

Rhea-AI Summary

Arcimoto, Inc. (NASDAQ: FUV) introduced the Faction D1, a next-generation driverless delivery vehicle, at its new manufacturing facility in Eugene, Oregon. Featuring DriveLink™ and TeleAssist™ technologies, the D1 can reach speeds of 75 mph, cover over 100 miles, and transport up to 500 pounds of cargo. With anticipated costs of less than $2 per mile for deliveries, the D1 aims to enhance efficiency in last-mile logistics. Pilot trials are expected in 2022, with production models anticipated in 2023.

Positive

• Introduction of the innovative Faction D1 driverless vehicle enhances delivery efficiency.
• Projected operational cost of < $2 per mile for deliveries.
• D1 supports a payload capacity of 500 pounds, enhancing versatility.

Negative

• None.

The Faction D1 combines autonomy with remote human teleoperation, retaining the Deliverator’s capabilities of a 75 mph top speed and 102 city miles of range while transporting up to 500 pounds of cargo.

EUGENE, Ore., Feb. 22, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.^® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, today unveiled the Faction D1, a next-generation driverless delivery vehicle based on the Arcimoto Platform at the new Arcimoto RAMP manufacturing facility in Eugene, Oregon. Equipped with Faction’s DriveLink™ and TeleAssist™ technologies, the completely driverless D1 combines autonomy with remote human teleoperation. The driverless vehicle system retains the Deliverator’s capabilities of a 75 mph top speed and just over 100 miles of range while transporting up to 500 pounds of cargo.

“Scalable driverless vehicle systems require engineering from the chassis up, and by leveraging the revolutionary Arcimoto Platform, we’re able to develop our driverless system much faster than using legacy vehicle designs,” said Faction CEO, Ain McKendrick. “The end result will be a rightsized, ultra-efficient driverless delivery vehicle that reduces pollution and drives down costs for local and last-mile delivery fleets.”

Faction and Arcimoto have a shared belief that right-sizing driverless electric vehicles will provide a significant boost in efficiency, reduce carbon emissions, and offer significant cost savings over existing transportation solutions, especially during the average urban trip of five miles or less.

Arcimoto Founder and CEO Mark Frohnmayer said, “We’ve been thrilled to work with the Faction team to support driverless development on the Arcimoto platform. With a common mission of deploying ultra-efficient electric vehicles at scale, the commercial launch of the driverless D1 will be a game-changer for last-mile logistics.”

The D1 features advanced sensors and safety systems, has a configurable cargo compartment that can be adapted for specialized payloads in addition to general fleet-on-demand use. With an anticipated commercial service cost of less than $2 per mile for driverless deliveries, the D1 will be extremely cost-competitive for various delivery use cases.

Faction expects to begin pilot customer trials in 2022. Interested fleet customers can contact Faction about access to pre-production vehicles and services now, and make reservations for production models expected to be released in 2023.

For the latest company updates, 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 (NASDAQ: FUV) develops and manufactures ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Arcimoto vehicles are currently available for reservation in California, Oregon, Washington, Nevada, Arizona, and Florida, and for preorder worldwide. Our flagship vehicle, the Arcimoto FUV^®, is purpose-built for everyday driving and transforms ordinary trips into pure-electric joyrides. Launched in 2021, the all-new Arcimoto Roadster is designed to be the ultimate open-road fun machine and is the purest expression of the Arcimoto Platform. The Deliverator^® and Rapid Responder™ provide last-mile delivery and emergency response functionality, respectively, at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Expected to launch in 2022, the Flatbed represents Arcimoto’s vision of a pure-electric, rightsized utility pickup truck. The upcoming Cameo™ is designed to create a smooth, silent, sustainable camera vehicle for the film and influencer industries. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.

About Faction

Faction Technology, Inc. is a Silicon Valley startup that develops driverless solutions based on light electric vehicles. Founded in February 2020, Faction is on a mission to revolutionize micro-logistics and vehicle-on-demand. The company believes the future of sustainable transportation is to develop driverless vehicles that are safe, cost-effective, and right-sized to serve a range of use cases for both business and passenger transportation needs. For more information visit www.faction.us

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

Arcimoto Fleet Sales
Sam Fittipaldi
samf@arcimoto.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be412244-13ed-41c7-8b6a-304f4126fcfb

FAQ

What is the Faction D1 by Arcimoto?

The Faction D1 is a driverless delivery vehicle capable of 75 mph, with a 100-mile range and a 500-pound cargo capacity.

When will pilot trials for the Faction D1 begin?

Pilot trials for the Faction D1 are expected to start in 2022.

What is the expected cost per mile for deliveries using the Faction D1?

The anticipated service cost is less than $2 per mile for driverless deliveries.

When will production models of the Faction D1 be available?

Production models of the Faction D1 are expected to be released in 2023.