Arcimoto Named One of Oregon’s Most Admired Companies by Portland Business Journal

Electric vehicle manufacturer recognized by Oregon’s business community in the Product Makers & Designers category

EUGENE, Ore., Dec. 09, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.^® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles, has been named to the Portland Business Journal’s Oregon’s Most Admired Companies 2022 list in the product makers and designers category.

The mission of the Oregon’s Most Admired Companies awards is to recognize the outstanding companies in the region. This year's awards were voted on by 271 top executives who received a survey in September from the Portland Business Journal newsroom to name their most-admired companies in each of 11 categories.

“We are honored to receive this recognition from the top leaders across Oregon,” said Jesse Fittipaldi, Arcimoto Interim CEO. “Being named within the product maker and designers category is a testament to the innovative design and fresh approach to rightsizing transportation as we create the most efficient, affordable, and fun EVs on the road today.”

“Arcimoto was chosen as a Most Admired Company by Oregon and Southwest Washington CEOs, one of the most prestigious honors PBJ bestows,” said Candace Beeke, president and publisher of the Portland Business Journal.

To view the full list of Oregon’s Most Admired Companies, visit the Portland Business Journal’s website.

For the latest stakeholder update, check out our Q3 Stakeholder Webinar 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/155fc444-8510-479f-83ab-cbdb74d64ee5