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Arcimoto Announces Grand Opening of First Ever Rental Location

EUGENE, Ore.– Arcimoto, Inc.® (NASDAQ: FUV) — makers of the Fun Utility Vehicle® (FUV) — an affordable, joyful, pure electric vehicle for everyday drivers and fleets, announced today that the grand opening of Arcimoto’s first ever customer experience and rental location, will take place on Saturday, October 27.

The facility, located at 543 Blair Boulevard in the historic Whiteaker neighborhood, will serve as showroom, service center, and a rental center for FUVs in Arcimoto’s hometown of Eugene.

“The opening of our first rental experience center is a significant milestone for Arcimoto,” said Mark Frohnmayer, Arcimoto President and Founder. “Providing an efficient and friendly means for people to try out new products is a key challenge for every next-generation vehicle developer. We believe our FUV hubs will afford prospective Arcimoto customers the opportunity to experience the joy of this entirely new kind of vehicle, without the pressures typical of the traditional sales process. We plan to let customers rent by the hour, half day, or full day, to experience an Arcimoto as if it were their own. We believe this will be a real advantage for our existing preorder customers and folks new to the brand alike.”

Arcimoto has accumulated 3,102 preorder deposits for its retail series Fun Utility Vehicle, representing approximately $46.5M in anticipated revenue.

Frohnmayer continued, “The Eugene location has special significance to Arcimoto, as it is sited immediately across the street from the boutique design studio where we began developing the FUV more than a decade ago. Eleven years, eight design generations, and a new factory later, we are proud to finally share the FUV with our friends, family, and the community of Eugene who haveindelibly shaped this venture and product.”

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 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; our reliance on key personnel; 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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