New York Passes Lupardo-Kennedy Autocycle Bill Allowing Three-Wheeled Vehicles to be Operated without a Motorcycle License
Arcimoto, Inc. (NASDAQ: FUV), noted a significant legislative change in New York that allows drivers of its Fun Utility Vehicles (FUVs) to operate without a motorcycle license. The bill, signed by Governor Kathy Hochul, aims to enhance accessibility to autocycle vehicles. This move is expected to broaden the customer base, particularly benefiting seniors hesitant about obtaining such a license. The company applauds New York's efforts in promoting sustainable transportation. The legislation aligns New York with other states, facilitating easier adoption of Arcimoto's electric vehicles.
- Legislation allowing operation of Arcimoto vehicles without a motorcycle license enhances market accessibility.
- Increased potential customer base, especially among seniors, due to reduced licensing barriers.
- Legislative alignment with other states may drive higher sales of FUVs.
- None.
EUGENE, Ore., March 03, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, today announced that drivers of Arcimoto Fun Utility Vehicles in New York will no longer need to have a motorcycle license under legislation signed by Governor Kathy Hochul. The bill, A7192A/S6335, sponsored by Assemblywoman Donna Lupardo and Senator Tim Kennedy, brings New York State in line with other states that do not require a motorcycle license to operate an autocycle such as those built by Arcimoto.
"Excelsior!” said Mark Frohnmayer, CEO and Founder, Arcimoto. “We applaud the great state of New York for passing this important legislation. New York continues to show leadership pushing for reforms to address the climate crisis we face, and allowing their constituents to more easily make sustainable transportation choices that don’t depend on imported fossil fuels. We commend Governor Kathy Hochul, State Senator Tim Kennedy, and Assemblymember Donna Lupardo for leading the charge on this pragmatic change."
Assemblywoman Donna Lupardo said, “We have worked on this bill for a number of years in order to bring it across the finish line. This will open up the autocycle market to a much wider customer base. Seniors, in particular, wanted to have this option but questioned their ability to obtain a motorcycle license. Thank you to Senator Kennedy for his partnership and to Governor Hochul for her support.”
Senator Tim Kennedy, Chair of the Senate Transportation Committee said, "Through this legislation, we're bringing New York State in line with many other states across the nation, while simultaneously strengthening accessibility for autocycle drivers and investing in sustainable models of transportation. I'm proud to champion this alongside Assemblymember Lupardo, and thank Governor Hochul for making this a priority and signing this bill into law."
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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. Arcimoto vehicles are currently available for reservation in California, Oregon, Washington, Nevada, Arizona, and Florida, and for preorder worldwide. 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.
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Public Relations Contact:
Megan Kathman
(651) 785-3212
pr@arcimoto.com
Investor Relations Contact:
investor@arcimoto.com
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