Arcimoto Appoints Galileo Russell to Board of Directors

Rhea-AI Summary

Arcimoto, Inc. (NASDAQ: FUV) has appointed Galileo Russell to its Board of Directors, enhancing its strategic leadership. Russell, a prominent figure in the EV sector and founder of HyperChange, brings valuable expertise and connections, notably linking Arcimoto with Munro & Associates to aid mass production efforts. Having witnessed Arcimoto's journey from concept to production, Russell is also a pre-order customer of the company's electric vehicles, emphasizing his belief in the brand's potential to reshape urban transport.

Positive

• Appointment of Galileo Russell to the Board of Directors enhances strategic leadership.
• Russell's connections with Munro & Associates may accelerate mass production efforts.
• Russell's background in EV investments and media strengthens Arcimoto's market position.

Negative

• None.

Arcimoto, Inc.® (NASDAQ: FUV), makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, is pleased to welcome Galileo Russell to the Board of Directors.

“Galileo Russell has established himself as a thought leader in the EV space, and he has already delivered meaningful strategic opportunities to Arcimoto, notably connecting us with Munro & Associates to help the push to mass production,” said Arcimoto Founder and CEO Mark Frohnmayer. “Gali has demonstrated time and again his deep and thoughtful understanding of this market and we look forward to having him on board as a director as we chart the path to global scale.”

“In my three years following Arcimoto, I’ve gone from skeptic to believer,” added Russell. “After my first factory visit and meeting with Mark in 2018, I was so impressed, I bought my first shares. Since then, I’ve seen the team go from concept to production, and execute on its ambitious vision. Starting from scratch with a new smaller-footprint EV platform, Arcimoto has the potential to sustainably transform how people and goods move around our cities. I’m proud to be an Arcimoto pre-order customer, and can’t wait to get my FUV. This appointment will enable me to expand my relationship with the Company, and work closely with Mark and the team on long-term strategic projects.”

Mr. Russell is the founder and CEO of HyperChange, a startup financial media company with more than 130,000 YouTube subscribers. Mr. Russell is a technology investor known for his early and vocal support of Tesla, and he also is an investor in SpaceX and numerous early stage startups. He co-founded the software-as-a-service financial visualization platform HyperCharts and is the founder of the venture capital firm HyperGuap. He is a graduate of New York University Stern School of Business with a B.S. in Finance.

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. Now available to preorder customers in California, Oregon, Washington, and Florida, the Arcimoto FUV® is purpose-built for everyday driving, transforming ordinary trips into pure-electric joyrides. Available for preorder, 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. Two additional concept prototypes built on the versatile Arcimoto platform are currently in development: the Cameo™, aimed at the film and influencer industry; and the Roadster, designed to be the ultimate on-road fun machine. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210108005090/en/

FAQ

What is the significance of Galileo Russell's appointment to Arcimoto's Board?

Galileo Russell's appointment is significant as he brings extensive knowledge and connections in the EV industry, potentially aiding in Arcimoto's mass production efforts.

How might Galileo Russell's experience impact Arcimoto's future?

Russell's experience as a technology investor and thought leader in the EV space may provide valuable insights and guidance as Arcimoto seeks to scale its operations.

When did Galileo Russell start following Arcimoto?

Galileo Russell began following Arcimoto three years ago and has since become a pre-order customer, demonstrating his commitment to the company's vision.

What is the background of Galileo Russell?

Galileo Russell is the founder of HyperChange and has a strong investment background, supporting notable companies like Tesla and SpaceX.