Arcimoto, Inc. - FUV STOCK NEWS

Arcimoto, Inc.® (NASDAQ: FUV) has announced the FUV and Friends Summer Showcase to be held on July 26 at Portland International Raceway. The event will feature the debut of the Roadster, an electric vehicle aimed at providing fun driving experiences. Attendees will witness live technology demos and ride opportunities on FUVs and Tilting Motor Works trikes. CEO Mark Frohnmayer emphasized collaboration in sustainable transportation. The event is invitation-only for media, shareholders, and pre-order customers. Arcimoto's electric vehicles are designed for affordability and efficiency, with mass production expected to commence next year.

Arcimoto, makers of affordable electric vehicles, announced the opening of their rental facility in San Diego, starting May 28. This location aims to introduce FUVs to both tourists and locals, enhancing visibility through firsthand experiences. San Diego is now the third rental site, joining Key West and San Francisco. CEO Mark Frohnmayer emphasized the importance of generating awareness and data for revenue models. The facility's prime location allows exploration of popular attractions, showcasing FUV's unique driving experience.

Arcimoto, Inc. (NASDAQ: FUV) reported strong Q1 2021 results with a 126% revenue increase to approximately $1.39 million, driven by the sale of 60 vehicles. The company manufactured a record 84 vehicles and commenced deliveries in Florida. Notable advancements include a new manufacturing plant aimed for 50,000 units annually and the acquisition of Tilting Motor Works for future product development. Despite a net loss of approximately $4.7 million and ongoing financial challenges, management emphasizes a successful quarter and plans for expansion, including partnerships with the U.S. Department of Energy.

Arcimoto, Inc. (NASDAQ: FUV) announced that CFO Douglas Campoli has been awarded the 2021 CFO of the Year by Portland Business Journal. Campoli has served since 2015, playing a crucial role in guiding the company from a $24 million market cap to over $1.3 billion at its peak. He has overseen financial processes, the company's initial public offering, and recently completed the acquisition of Tilting Motor Works. His recognition reflects his exceptional performance and community involvement, vital for Arcimoto's strategic growth.

Arcimoto (NASDAQ: FUV) announced its participation in the virtual Benzinga Global Small Cap Conference on May 13-14, 2021. Founder and CEO Mark Frohnmayer will present on May 14 at 2:45 p.m. ET in Track 1: Disruptive Innovation. He expressed excitement about discussing Arcimoto's electric vehicle platform, designed for sustainability and efficiency, aimed at reducing congestion and carbon emissions. The company also develops various electric vehicles, including the FUV®, Deliverator®, and Rapid Responder™, catering to everyday driving and specialized functional needs.

Arcimoto, Inc. (NASDAQ: FUV) will announce its first quarter financial results for the period ending March 31, 2021, on May 17, 2021. The announcement will be followed by an investor webcast at 2:00 p.m. PDT, featuring a corporate update and a Q&A session. Shareholders can submit questions via the Say platform until the event's conclusion on the same day. The company, known for its ultra-efficient electric vehicles, continues to focus on sustainable transportation, with preorders available in select states for its FUV model.

Arcimoto, Inc. (NASDAQ: FUV) announced that its 2021 FUV is eligible for several rebate programs in Oregon and California. Customers can benefit from a $2,500 Oregon Clean Vehicle Rebate and a $2,500 Charge Ahead Rebate, totaling $5,000 in savings for residents. In California, customers can save up to $2,250 through the California Clean Vehicle Rebate Program and the California Clean Fuel Reward. The FUV is currently available for sale in Oregon, California, Washington, and Florida, with a starting price of $17,900.

Arcimoto, Inc. (NASDAQ: FUV) has announced its approval to list shares on The NASDAQ Global Market, effective April 12, 2021. This transition from The NASDAQ Capital Market highlights the company's significant growth in business and market capitalization. CEO Mark Frohnmayer stated that this move enhances accessibility for investors aligned with Arcimoto's mission to create sustainable transportation solutions. The company is known for developing ultra-efficient electric vehicles, including the FUV, Deliverator, and Rapid Responder, aimed at reducing the environmental impact of traditional vehicles.

Arcimoto, Inc. (NASDAQ: FUV) reported a 120% increase in total revenues for FY 2020, reaching approximately $2.2 million compared to $987,850 in 2019. The company delivered 97 vehicles, a 110% increase year-over-year, despite pandemic-related disruptions. Arcimoto raised $52.9 million through capital raises, eliminated $3.9 million in debt, and improved cash reserves to $39.4 million. However, the firm reported a net loss of $18.1 million or ($0.63) per share, slightly worse than the $15.3 million loss from the previous year.