Arcimoto Now Accepting Vehicle Reservations From Customers In Arizona

Rhea-AI Summary

Arcimoto Inc. (NASDAQ: FUV) is expanding its electric vehicle offerings by accepting reservations in Arizona, marking the sixth state in its expansion plan. Deliveries are expected to commence in Q1 2022. The company aims to cater to both everyday drivers and tourists, with Arizona being a popular market for preorders. Reservations are available for residents of Arizona, Nevada, California, Oregon, Washington, and Florida, along with a $100 refundable preorder option for others. This strategic move underscores Arcimoto's commitment to sustainable transportation.

Positive

• Expanding vehicle reservations to a new state (Arizona), increasing market reach.
• Initial deliveries anticipated in Q1 2022, suggesting potential revenue growth.
• Strong preorder interest in Arizona, indicating positive market reception.

Negative

• None.

Arizona deliveries expected to begin in Q1 2022

EUGENE, Ore., Nov. 17, 2021 (GLOBE NEWSWIRE) -- Arcimoto, Inc.^® (NASDAQ: FUV), makers of fun, affordable, and ultra-efficient electric vehicles for everyday drivers and fleets, today announced that it is now accepting vehicle reservations from customers in Arizona, the sixth state in Arcimoto’s nationwide expansion plan.

Today, Arcimoto began reaching out to Arizona preorder customers with the opportunity to reserve an Arcimoto. First Arizona vehicle deliveries are anticipated to begin in Q1 2022. To make a reservation, please visit https://www.arcimoto.com/order-now.

“We are thrilled to introduce Arcimoto vehicles to Arizona, which has long been one of our most popular states for overall preorders,” said Arcimoto Founder and CEO, Mark Frohnmayer. “From Scottsdale to Sedona and the Grand Canyon to Havasu Falls, Arizona is an ideal market for both everyday drivers and tourist rentals. To all of our longtime, loyal Arizona preorder customers, thank you so much for your patience. The wait for Arcimoto in Arizona is over.”

Arcimoto vehicles are currently available for reservation by residents of Arizona, Nevada, California, Oregon, Washington, and Florida. Customers outside of these states can place a $100 refundable preorder to save their place in line. Arcimoto’s “infinite roadshow”, the Ride of the Arconauts, is planning to visit open and closed states alike to demo the Arcimoto vehicles in 2022. Sign up for updates at https://www.arcimoto.com/ride to find out when the Ride is coming to you, or to learn more.

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. 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.

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

FAQ

When will Arcimoto start delivering vehicles in Arizona?

Arcimoto plans to begin deliveries in Arizona in Q1 2022.

What is the significance of the Arizona expansion for Arcimoto?

The Arizona expansion is part of Arcimoto's nationwide growth strategy, targeting both everyday consumers and tourist rentals.

How can customers reserve an Arcimoto vehicle in Arizona?

Customers in Arizona can reserve an Arcimoto vehicle by visiting the company’s website.

Which states currently offer vehicle reservations from Arcimoto?

Vehicle reservations are available in Arizona, Nevada, California, Oregon, Washington, and Florida.

What type of vehicles does Arcimoto produce?

Arcimoto produces ultra-efficient electric vehicles designed for everyday driving and fleet use.

What is the stock symbol for Arcimoto?

Arcimoto is traded under the stock symbol FUV on NASDAQ.