2020 Updates

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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

  1. Email from Arcimoto on 10/4/20