This page is a collection of significant updates about Arcimoto.
July 2021
Hawaii, Florida, and Louisiana remove motorcycle-specific restrictions for the FUV, Deliverator, and Rapid Responder [Press release]
The City of Encinitas, CA is conducting a 60-day pilot of an FUV and Deliverator [Press release]
June 2021
Partnership announced with Lightning Motorcycles to build the world’s fastest three-wheel motorcycle [Press release]
Eugene rental center opened [Press release]
FUV and Friends Summer Showcase coming to the Portland International Raceway in July [Press release]
May 2021
San Diego rental center opened May 28th [Press release]
Q1 2021 earnings call notes:
- Submitted the ATVM application
- The quickest we can expect the application to be fulfilled is 6 months from now, but 9-12 months is more likely
- They will deliver the first production Roadster to Mark in Q2
- Expect a slow ramp up to follow
- They should be able to demonstrate autonomy within the next “couple of quarters”
- #FUVLife portal coming this year
- Enabling DC fast charging is dependent on the battery pack being upgraded so we shouldn’t expect that for a few years
- The partnership with Munro has been extended through the end of 2021
- Deliverators will be available in the rental fleet
- Pickup variant unveiled
- Two more Platform 1 variants are coming
- Delivered 60 vehicles to customers, $1.4m in revenue, and $46.7m cash on hand
Half doors coming to the FUV in Q3 2021 [Benzinga SmallCap Conference]
Multiple recall notices issued impacting some vehicles [NHTSA]
Eugene rental location opening in June [Team Arcimoto email]
April 2021
FUV now eligible for $2,500 Oregon Clean Vehicle Rebate and $2,500 Charge Ahead Rebate (Oregon) [Press Release]
Arcimoto manufacturers a record 84 vehicles in Q1 2021 [SEC Filing]
Recall notice issued for 250 vehicles over battery firmware issue [NHTSA]
$FUV moves to NASDAQ Global Market, previously listed on Capital Markets [Press Release]
The Arcimoto FUV qualifies for CARB’s Clean Vehicle Rebate Project, a $750 rebate [Interview]
March 2021
Q4 2020 earnings call notes:
- Cameo has finished the testing phase
- The Deliverator program is focused on increasing production rate
- Unveiled the first iteration of the Pickup variant
- In 3 years the company will demo ride hailing using their app
- Unveiled FUV 2.0 design
- Micromobility platform (aka Platform 2, aka Arcimoto Tilting division) will feature the following specs:
- ~150 lbs
- 3 KWh battery
- 8 sqft footprint
- ~$2,000
- <35 Wh/mi efficiency
- Fit up to 2 people
- Goals for the next decade:
- A “few” more variants are coming for Platform 1
- Unveil first Platform 2 variant later this year
- Introduce shared mobility model, deploy vehicles for pilot program
- Demonstrate autonomous capability this year
- Open rental locations in key US cities
- Open orders in more states, with some coming this year
- ATVM loan application will be submitted this week
- Plastics production will begin this year at rAMP
- Start of (mass) production is scheduled for October 2022
- Produce and deliver 500+ vehicles in 2021
- Currently producing 4 units per day, up to 5 units per day by the end of 2021
- For current FUV production they are focused on resolving one last major supplier issue involving the electronics. Most other issues have been resolved.
- For TMW:
- They are selling a kit every few days at $15,000 each
- Begun the process of moving offices and shifting other infrastructure to reduce costs
- Will ramp up production once they are settled
- Some insights derived from Munro & Assoc. partnership have already been incorporated into production units
Dilip K. Sundaram joins Arcimoto as the Chief International Business Officer [Press Release]
Arcimoto completes due diligence on rAMP and expects to close April 19, 2021. The purchase agreement was also expanded to encompass more than 200,000 square feet (previously 185,000). [Press Release]
Bonitas Research alleges Arcimoto has been deceiving investors.* [Bonitas Research]
The Roadster will begin production in Q2 2021 and have a starting price of $23,900 [Arcimoto website]
Delivery of the first Deliverator/Rapid Responder combo vehicle [Twitter]
* While I do not agree with Bonitas Research’s “research” and its allegations, I do believe in being aware of the campaign against Arcimoto. During the Q4 2020 earnings call on March 31st, Mark denied all of the claims and said that GoCars was never contacted by Bonitas Research.
February 2021
Hawaii Senate passes bill removing need to wear a helmet for vehicles such as an FUV [Hawaii State Legislature]
FUVs are now eligible for $1,500 California Reward [Press Release]
ATVM loan submission pushed to end of Q1 2021 (previously end of Q4 2020) [Webinar – sign up required]
Preorders now stand at 4,800+ [SEC Filing]
January 2021
Files to raise $80m in stock offering [Press Release]
Arcimoto acquires Tilting Motor Works for $9.25m to $10.25m in stock and cash. Also announces future product lines including tilting technology [Press Release]
Sandy Munro announces the Arcimoto platform will have airbags and has passed the moose test [Panel Discussion]
Arcimoto joins the Zero Emission Transportation Association [Press Release]
Galileo Russel appointed to the Board of Directors [Press Release]
Arcimoto purchases two buildings for $10.25m to increase production [Press Release]
Looking for older updates? View 2020 here.