Arcimoto Applauds Texas State Legislators on the Revision of the State’s Autocycle Definition

The forward thinking efforts led by Senator Kelly Hancock and Representative Jared Patterson have changed the legislation, that will now allow legal registration of Arcimoto’s three-wheeled electric vehicles in Texas

AUSTIN, Texas, June 06, 2023 (GLOBE NEWSWIRE) -- Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, ultra-efficient small footprint electric vehicles for moving people and things, today recognizes the exceptional efforts of Texas state legislators, Senator Kelly Hancock and Representative Jared Patterson, for their pivotal role in the revision of SB 1115. The updated legislation redefines the autocycle parameters in Texas. This revision allows for registration of Arcimoto’s USA-manufactured three-wheeled electric vehicles throughout the state.

“Senator Hancock shares the same dedication to innovation, and through his tremendous efforts he has opened the door for new revolutionary transportation options for Texas residents,” said Arcimoto CEO Chris Dawson. “We applaud Senator Hancock and his team’s unwavering commitment to progress, his commitment to residents of Texas, and his contribution to the larger goal of building a more sustainable future for all.”

“Enabling the availability and accessibility of this cutting-edge electric vehicle in Texas, ensuring that residents can benefit from its numerous advantages, was led by Senator Hancock and his commendable team. They have played a crucial role progressing state legislation, ushering in the future of sustainable transportation,” said Joel Sheltron, Founder and CEO of the The Autocycle Alliance, which advises lawmakers on statutory and regulatory issues for autocycles.

Arcimoto is committed to revolutionizing efficient transportation by right-sizing vehicles for a sustainable future. The company’s lineup of unique and efficient vehicles will improve Texas roads, by reducing carbon emissions and transforming the way people travel and work within the state. Arcimoto has a variety of transportation solutions including the FUV, a tandem consumer vehicle, the all-new MUV, built for a wide range of commercial utility uses, the Rapid Responder, providing emergency response functionality, and the Deliverator Sedan for last-mile delivery.

Arcimoto’s vehicle sales are changing the way we move people and things across the nation. The company is proud to be able to offer vehicle solutions that redefine and rightsize mobility and utility for work and play, in 19 states including Alabama, Arizona, California, Connecticut, Hawaii, Florida, Georgia, Pennsylvania, Maryland, Nevada, New Mexico, New Jersey, New York, North Carolina, Oregon, South Carolina, Virginia, Washington D.C. and Washington.

Arcimoto is working towards strategic partnerships that will allow the company to fulfill orders in Texas.

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 and local delivery, 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:
Allie Potter, Skyya
allie@skyya.com
Skyya PR for Arcimoto

Investor Relations Contact:
investor@arcimoto.com