Arcimoto Celebrates IPO Anniversary
September 21 2018 - 12:30PM
Business Wire
Founder and President Mark Frohnmayer and Vice
President Jesse Fittipaldi return to New York to offer test rides
of the FUV® and to share Arcimoto’s progress with media, investors,
and pre-order customers
Arcimoto, Inc.® (NASDAQ: FUV) — makers of the Fun Utility
Vehicle® (FUV) — an affordable, joyful, pure electric vehicle for
everyday drivers and fleets, today celebrates its one-year
anniversary as a NASDAQ publicly-traded company. Arcimoto is the
second electric vehicle manufacturer to be publicly traded on the
NASDAQ exchange.
To mark the anniversary, key members of Arcimoto’s leadership
team will return to New York City between September 24 and October
2 to attend conferences, meet with media, and host test rides of
three Signature Series FUVs for Arcimoto pre-order customers.
“Today, on the one-year anniversary of Arcimoto’s initial public
offering, I am humbled to look back at all that our amazing team
has accomplished,” said Mark Frohnmayer, Founder and President of
Arcimoto. “Our manufacturing facility is substantially complete. We
aim to reach retail production by the end of 2018. We continue to
see substantial and growing consumer demand, evidenced by our more
than 3,000 pre-orders, and we continue to see the growth
opportunity presented by FUV fleet rental centers in destination
markets worldwide. Arcimoto is powered by our team, our customers,
and our community of investors who have fueled each forward step we
take. We look forward to showing the world what we have
accomplished together, as we push forward on our mission to help
catalyze the shift to a sustainable transportation system.”
In the 12-month period following its September 21, 2017 IPO,
Arcimoto has:
- Tripled the size of its staff, which
now totals 77 full-time employees.
- Moved operations from a bodega design
studio to the Arcimoto Manufacturing Plant (AMP).
- Improved manufacturing capabilities,
demonstrating the ability to produce a finished vehicle from raw
materials entirely in-house at the AMP.
- Completed production of ten Signature
Series FUVs and begun a 15-unit Beta Series production run,
reducing build time while improving vehicle quality.
- Announced the first two Arcimoto rental
locations to open in Oregon and California, anticipated in Q4,
2018, which will combine rental operations and customer
options.
- Grown pre-orders of the FUV to more
than 3,000 units and counting.
- Demonstrated the FUV across the
country, including major commercial auto shows, electric vehicle
industry events, consumer ride-and-drives, and investor
conferences.
- Rung the Closing Bell at the NASDAQ
MarketSite in April 2018.
Arcimoto management will attend the following conferences in
New York City.
LD Micro Big Apple SummitDate: Tuesday, September 25,
2018Presentation Time: 8:40 a.m. Eastern time
Registration is mandatory for participation at the LD Micro Big
Apple Summit. For more information, please contact an LD Micro
representative or visit www.ldmicro.com.
The MicroCap ConferenceDate: Monday, October 1,
2018Presentation Time: 11:00 a.m. Eastern timeLocation: JW Marriott
Essex House (160 Central Park S, New York, NY 10019)
Arcimoto management will host one-on-one meetings throughout the
day for the MicroCap Conference and registration is mandatory for
participation. For more information or to schedule a one-on-one
meeting, please contact a representative or visit
www.microcapconf.com.
About Arcimoto, Inc.
Headquartered and manufactured in Eugene, Oregon, Arcimoto, Inc.
(NASDAQ: FUV) is devising new technologies and patterns of mobility
that together raise the bar for environmental efficiency, footprint
and affordability. Available for pre-order today, Arcimoto’s Fun
Utility Vehicle is one of the lightest, most affordable, and most
appropriate electric vehicles suitable for the daily driver. For
more information please visit www.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. 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 effectively execute on our developing growth
strategy; our ability to design, manufacture and market vehicle
models cost effectively and within projected timeframes; the number
of reservations and cancellations for our vehicles and the ability
to deliver on those reservations; our reliance on key personnel;
our ability to manage the distribution channels for our products,
including our ability to successfully implement our direct to
consumer distribution strategy and any additional distribution
strategies we may deem appropriate; 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; fluctuations in our financial results; and changes in
laws or regulations governing our business and operations. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180921005438/en/
Investor Relations Contact:MZ Group – MZ North
AmericaGreg Falesnik, 949-385-6449Managing
DirectorFUV@mzgroup.uswww.mzgroup.usorPublic Relations
Contact:Skyya CommunicationsSusan Donahue, 646-454-9378Managing
DirectorFUV@skyya.comwww.skyya.com
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