Arcimoto, Inc. - FUV STOCK NEWS

Arcimoto, Inc. (NASDAQ: FUV) has launched nationwide roadside assistance for all its vehicles, partnering with Agero, a top provider of driver assistance services in North America. This service will be available to owners of all Arcimoto models, including the FUV, Deliverator, Rapid Responder, Cameo, and Roadster, while under warranty. The collaboration aims to enhance customer support, ensuring drivers receive help for various roadside issues at any time. Agero offers comprehensive coverage and manages millions of service events annually, enhancing the ownership experience for Arcimoto customers.

Arcimoto (NASDAQ: FUV) is set to showcase its vision for sustainable transportation at three upcoming investor conferences. CEO Mark Frohnmayer highlighted 2020 as a transformative year, with new product launches like the Rapid Responder and Deliverator, alongside fleet pilot programs and partnerships aimed at mass production. Key dates include the MoneyShow from December 1-3, Benzinga Conference on December 8-9, and the LD Micro Main Event on December 14. A newly released company overview video further illustrates Arcimoto's mission and offerings.

Arcimoto, Inc. (NASDAQ: FUV) has announced agreements with institutional investors for the sale of 1 million shares of common stock at $15.25 per share, totaling $15.25 million in gross proceeds. The funds will be allocated for general corporate purposes, including manufacturing acceleration and meeting increased customer demand. The closing of the offering is anticipated on November 25, 2020, subject to standard conditions. The securities are being offered under an effective registration statement previously filed with the SEC.

Arcimoto, Inc. (NASDAQ: FUV) has announced an agreement with an institutional investor for the sale of 1,132,075 common shares at $13.25 each, raising approximately $15 million in gross proceeds. The funds will be utilized for corporate purposes, including enhancing manufacturing to meet increasing demand and fulfilling pre-orders. The closing of this offering is anticipated on November 24, 2020. The equity is offered under an effective shelf registration statement previously filed with the SEC.

Arcimoto, Inc.® (NASDAQ: FUV) announced the initiation of its first municipal fleet pilot program with the City of Orlando. This collaboration will see Arcimoto vehicles tested across six city departments as part of Mayor Buddy Dyer’s initiative to enhance sustainability in the city. The 90-day pilot aims to evaluate the practical application of electric vehicles to support city operations. Arcimoto's founder emphasized the potential of their vehicles to serve as a sustainable model for other cities aiming to electrify their fleets.

Arcimoto, Inc. (NASDAQ: FUV) reported its Q3 2020 financial results, showcasing a total revenue of $683,895, a significant increase from $33,311 in Q3 2019, attributed to resumed production and customer deliveries. The company delivered 31 vehicles in September. However, it incurred a net loss of approximately $4.6 million, or ($0.15) per share, compared to a net loss of $4.0 million, or ($0.22) per share, in the same quarter last year. With $17 million in cash as of September 30, 2020, the company continues to strengthen its financial position.

Arcimoto, Inc. (NASDAQ: FUV) has commenced the development of the Roadster, a thrilling new model based on its three-wheel platform, aiming to deliver a unique electric driving experience. The company has partnered with Corbin-Pacific for high-quality saddle development and National Cycle for advanced windshield manufacturing. The Roadster is set to enhance Arcimoto's commitment to sustainable transportation, with pricing and specifications to be announced later.

Arcimoto, Inc. (NASDAQ: FUV) will present at the Virtual Fall Investor Summit on November 18 at 1:00 p.m. EST. CEO Mark Frohnmayer will lead the presentation and hold one-on-one meetings with investors. Key highlights include a partnership with DHL for nationwide FUV home delivery, resumption of FUV production, and the introduction of the Roadster prototype. Arcimoto aims to promote sustainable transportation with its electric vehicles, available for preorder on the West Coast. More details can be found at Arcimoto.com.

Arcimoto, Inc. (NASDAQ: FUV) will announce its third quarter financial results for the period ending September 30, 2020, on November 16, 2020. The company, known for its electric vehicles, is hosting an investor webcast at 2:00 p.m. PST to discuss these results and provide a corporate update. The webcast will also include a Q&A session. Interested participants can access the webcast via the provided link. Arcimoto aims to promote sustainable transportation through its affordable electric vehicles, available for preorder on the West Coast.