Arcimoto Joins Zero Emission Transportation Association (ZETA) In Push To Accelerate Transition to Electric Vehicles

Rhea-AI Summary

Arcimoto, Inc. (NASDAQ: FUV) has joined the Zero Emission Transportation Association (ZETA), advocating for 100% electric vehicle sales by 2030. CEO Mark Frohnmayer emphasized the need for a cohesive strategy to create a sustainable future. ZETA's 2021 policy platform includes proposals for electric vehicle adoption incentives, electrification of heavy-duty vehicles, a $30 billion charging infrastructure investment, encouragement of domestic manufacturing, emissions standards, and federal leadership in EV initiatives. Arcimoto continues to develop ultra-efficient electric vehicles aimed at everyday commuting.

Positive

• Joining ZETA positions Arcimoto as a leader in the push for electric vehicle adoption.
• ZETA's policy proposals may stimulate demand for electric vehicles, benefiting future sales.
• Focus on domestic manufacturing could enhance operational efficiencies and local job creation.

Negative

• No immediate financial metrics provided to gauge impact on revenue or profitability.
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Arcimoto, Inc.® (NASDAQ: FUV), makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, today announced that it has joined the Zero Emission Transportation Association (ZETA), a national coalition of more than forty businesses advocating for 100 percent electric vehicle sales by 2030.

“We stand at a pivotal point in history, and if we are to create a better world for ourselves and future generations, we need to start right now with a rational, cohesive, and visionary strategy,” said Mark Frohnmayer, Arcimoto Founder and CEO. “We are stoked to join ZETA and work with our industry peers that are dedicated to building a cleaner, more sustainable world while at the same time creating thousands of new jobs and dramatically improving the country’s infrastructure.”

Today, ZETA announced its policy platform for 2021, which consists of 34 policy proposals serving six major policy outcomes:

1. Light-Duty Electric Vehicle Consumer Adoption
Point-of-sale consumer incentives, along with early retirement and tax incentives, will accelerate the demand for electric vehicles.

2. Medium- and Heavy-Duty Electrification
Buses, service, and delivery vehicles are primed for electrification, and fleet buyers are eager to save on service, maintenance, and fuel costs. New tax credits, retirement incentives, and targeted programs will further accelerate and drive demand for electric medium- and heavy-duty vehicles.

3. National Charging Initiative
ZETA is calling for a $30 billion investment in charging infrastructure. An investment of this scale will create thousands of jobs, stimulate local economies, eliminate range anxiety, and pave the way for transportation electrification that meets every community’s needs.

4. Encourage Domestic Manufacturing
The automotive sector was once the symbol of a dominant American manufacturing sector. Electric vehicles give us a unique opportunity to re-establish the United States as global leaders in production and innovative technology. ZETA’s policy proposals promote production across the entire supply chain, from raw materials to manufacturing to battery recycling.

5. Performance and Emissions Standards
Strong emissions targets will protect public health and send powerful market signals to speed the transition to zero-emission modes of transportation.

6. Federal Leadership
ZETA urges the federal government to lead the way by committing to the electrification of its own fleet, investing in charging infrastructure, and promoting federal EV rental. Federal leadership can provide an aligned vision for electrification that empowers local leaders with the necessary expertise and resources.

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.

About ZETA

ZETA brings together those who support meeting the goal of 100 percent electric vehicle sales by 2030. This diverse non-partisan group coordinates public education efforts and federal policy development to promote EV adoption with the goal of creating American electric vehicle manufacturing jobs, better serving consumers, improving air quality and public health, and significantly reducing carbon pollution. For more information, please visit Zeta2030.org

View source version on businesswire.com: https://www.businesswire.com/news/home/20210112005427/en/

FAQ

What is Arcimoto's recent announcement regarding ZETA on NASDAQ: FUV?

Arcimoto has joined the Zero Emission Transportation Association (ZETA) to support 100% electric vehicle sales by 2030.

How does joining ZETA benefit Arcimoto (FUV)?

Joining ZETA enhances Arcimoto's advocacy for electric vehicles and positions the company to benefit from proposed incentives and policy changes.

What are ZETA's main policy proposals for 2021?

ZETA's policy proposals include consumer incentives for electric vehicles, electrification of medium- and heavy-duty vehicles, a $30 billion investment in charging infrastructure, and strong emissions standards.

What is the goal of the Zero Emission Transportation Association (ZETA)?

ZETA aims for 100% electric vehicle sales by 2030, promoting job creation and better public health through reduced emissions.