Arcimoto To Demo Rightsized EVs at ‘Alternatives,’ Southeastern Clean Cities Coalition Regional Meeting on Nov. 8 in Asheville, N.C.

Rhea-AI Summary

Arcimoto, Inc. (NASDAQ: FUV) is set to showcase its electric vehicles at the Southeastern Clean Cities Coalition meeting on Nov. 8, 2021, in Asheville, N.C. This follows a successful pilot program with Tennessee Clean Fuels, emphasizing the advantages of their electric vehicles for fleets. CEO Mark Frohnmayer expressed optimism about the integration of their vehicles into government fleets, highlighting benefits like low operating costs and energy efficiency. The Clean Cities initiative aims to enhance domestic fuel options and energy-efficient mobility solutions.

Positive

• Showcasing electric vehicles at a significant regional event increases visibility and potential partnerships.
• Positive feedback from previous pilots, like the one with Tennessee Clean Fuels, suggests strong market interest.

Negative

• The reliance on government partnerships could lead to volatility depending on policy changes and funding.
• Limited ability to scale production effectively may hinder meeting demand.

Supporting the nation's energy and economic security, Clean Cities coalitions build partnerships to advance affordable domestic transportation fuels and energy-efficient mobility systems

EUGENE, Ore., Oct. 29, 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 will demonstrate its family of electric vehicles at “Alternatives,” the Southeastern Clean Cities Coalition regional meeting on Nov. 8 in Asheville, N.C.

“Following our pilot with Tennessee Clean Fuels, we are excited to introduce our family of rightsized, pure electric vehicles to the Clean Cities coalitions throughout the Southeast,” said Arcimoto Founder and CEO, Mark Frohnmayer. “As governments across the country seek out new alternatives for their fleets, we’re hopeful these Clean Cities will see the big advantages of our small platform, including daily utility, a lower total cost of ownership and operation, and energy efficiency.”

Supporting the nation's energy and economic security, Clean Cities coalitions build partnerships to advance affordable domestic transportation fuels and energy-efficient mobility systems.

“In order to achieve our goals of improving air quality and transitioning to cleaner fuels, it’s important to have a diversity in fueling options as well as in the types of vehicles we use to meet our daily fleet needs,” said Sara Nichols, Land of Sky Regional Planner. “Land of Sky Clean Vehicles Coalition is excited to partner with Arcimoto to introduce their small footprint electric vehicles to WNC, which are not only incredibly efficient, but also, according to our friends at Tennessee Clean Fuels, incredibly fun to drive.”

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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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b239fe9-ba3e-4846-90e6-cfb55cfd353f

FAQ

What event will Arcimoto be demonstrating its electric vehicles?

Arcimoto will showcase its electric vehicles at the Southeastern Clean Cities Coalition meeting on Nov. 8, 2021.

What is the significance of Arcimoto's participation in the Clean Cities coalition?

Participation offers potential partnerships and highlights the benefits of electric vehicles for fleet use, promoting energy efficiency.

What are the anticipated benefits of Arcimoto's electric vehicles for government fleets?

The vehicles promise lower total ownership costs and improved energy efficiency, which are crucial for government operations.

When was Arcimoto's pilot program with Tennessee Clean Fuels conducted?

The pilot program with Tennessee Clean Fuels was conducted prior to the announcement of the upcoming event, showcasing early support for their electric vehicles.