Welcome to our dedicated page for Arcimoto news (Ticker: FUV), a resource for investors and traders seeking the latest updates and insights on Arcimoto stock.
Arcimoto, Inc. (NASDAQ: FUV), based in Eugene, Oregon, is a trailblazer in the design and manufacture of ultra-efficient electric vehicles aimed at everyday mobility. Founded in 2007, Arcimoto’s mission is to drive the shift towards sustainable transportation through innovative products and technology. The company’s name, meaning “future I drive,” reflects its commitment to eco-friendly mobility solutions.
The flagship model, the SRK, is a three-wheeled electric vehicle designed for practicality, safety, and affordability. It features tandem seating, a full enclosure, ample storage for groceries, dual-motor front-wheel drive, and a low center of gravity, all at an initial target base price of $11,900. The SRK is ideal for daily commuting and local travel, offering a fun and efficient alternative to traditional gas-powered vehicles.
Arcimoto continues to make significant strides in the electric vehicle sector. Recent milestones include a strategic partnership with MATBOCK to integrate American-made technologies into vehicles for government operations, enhancing tactical capabilities for the U.S. Department of Defense. Additionally, Arcimoto has partnered with Gwynndustries to create a versatile MUV (Multi-Utility Vehicle) equipped with custom features, highlighting the vehicle's adaptability for various commercial and industrial applications.
In a bid to revolutionize EV charging, Arcimoto has teamed up with MOBIUS to develop rapid charging technology, aiming to cut charging times down to ten minutes. This collaboration underscores Arcimoto’s commitment to pushing the boundaries of electric mobility by providing faster, more convenient charging solutions.
Financially, Arcimoto has demonstrated robust performance with a 17% increase in revenue in the second quarter of 2023. The company is strategically managing its assets, including the sale of its U.S. manufacturing facility with a leaseback option to optimize space usage and free up capital for future growth. Arcimoto’s innovative approach and strategic partnerships position it as a key player in the shift towards sustainable, efficient transportation.
Arcimoto, Inc. (NASDAQ: FUV) announces expansion into Florida, allowing early preorder customers to reserve the FUV and upcoming Roadster. Deliveries are projected to begin in Q1 2021. CEO Mark Frohnmayer emphasizes the vehicles' suitability for Florida, a key market, marking this as a major step in their nationwide expansion strategy. The FUV starts at $17,900, offering practical electric commuting solutions. The Roadster, designed for fun, is expected to launch in mid-2021 with pricing details forthcoming.
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.
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