Recent Arcimoto Updates

This page is a collection of significant updates about Arcimoto. To receive these updates monthly, sign up for the newsletter below.

May 2021

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]

December 2020

The Roadster will enter production in the first half of 2021 [LD Micro Conference (requires free signup to view)]

Florida is added as the fourth US market [Press Release]

Official merchandise store launched [Store Link]

Roadside assistance partner is updated to Agero due to its acquisition of Road America, Arcimoto’s original partner. [Team Arcimoto Email / Agero Press Release]

November 2020

A NHSTA recall is announced for a faulty HV contactor which resulted in overheating and a blown fuse in some vehicles. There have been no injuries or accidents related to this recall. [NHTSA report]

Arcimoto raises $15.25 million in a common stock direct offering [Press Release]

Arcimoto raises $15 million in a common stock direct offering [Press Release]

The City of Orlando will conduct a 90 day pilot with 6 vehicles for multiple departments [Press Release]

Roadster moving to development stage in collaboration with Corbin-Pacific (seat design) and National Cycle (windshield design) [Press Release]

Q3 earnings:

  • 31 vehicles delivered
  • Sustained 3 vehicles built per day by end of Q4
  • 4 vehicles built per day by end of Q1 2021
  • Expect to deliver 40+ vehicles in Q4
  • Planning to ramp production to ~8 vehicles per day during summer 2021
    • Roadster enables company to be cash-flow positive at this rate
  • Expanding delivery geography “soon”
    • Hinted at Florida and Northeast
  • ATVM will be submitted by the end of 2020
  • ASP of $21,000 to $22,000 currently – Q3 was $22,600

October 2020

  • Unveiled Roadster prototype [Arcimoto Votes! video]
  • Partnered with DHL to ship FUVs directly to customer’s homes [Bloomberg article]
    • DHL can handle up to 400,000 FUV deliveries per year “without even blinking” [HyperChange interview]
    • Phase 1 of the partnership includes the lower 48 states. Phase 2 includes Alaska, Hawaii, and international deliveries. [Electrek article]
  • “Planning for slow ramp up for next 18 months then big step changes.” [Mark’s Twitter]
  • “we resumed customer deliveries of the FUV in September, and our production rate has returned to the level we achieved in March”1

September 2020

August 2020

  • Sandy Munro expects the Arcimoto to cost significantly less to produce once he and his team are done with their agreement [Now You Know video]
  • New platforms coming and increase to 50,000 units per year in 24 months (mid 2022) [Arcimoto 2020 Summer Update]
  • The first production version (aka non-pilot vehicles) of the Deliverator will be delivered during 2020 [Q2 2020 10-Q]

July 2020

June 2020

  • Raised $8.5m in common stock direct offering [Press Release]
  • Partnered with Munro & Associates to ensure platform is easily manufactured at scale [Press Release]
  • Raised $8m in common stock direct offering [Press Release]

May 2020

Resumed production in May after halting in mid-March [Q2 2020 10-Q]

March 2020

Last updated: 5/5/21

  1. Email from Arcimoto on 10/4/20