Arcimoto Reports Third Quarter 2018 Financial Results and Provides Corporate Update

Arcimoto, Inc. (NASDAQ: FUV) — makers of the Fun Utility Vehicle (FUV) — an affordable, practical, and joyful pure electric vehicle for everyday commuters and fleets, today announced financial results for the third quarter ended September 30, 2018.

Arcimoto has released a third quarter 2018 corporate update video, which can be viewed at http://invest.arcimoto.com.

Recent Company Highlights:

• Completed production of 15 Beta Series FUVs and began a 6-unit production run for final retail design test vehicles, reducing build time through increasing integration of automation and in-house production processes for the frame and chassis while further improving vehicle mechanics and overall quality.
• Reaffirmed guidance of ramping up Retail Series production during 2019, assuming the Company is able to raise sufficient capital.
• Pre-orders for the FUV increased to 3,018 units as of September 30, 2018, as compared to 2,800 units as of June 30, 2018, and 1,834 units as of September 30, 2017.
• Ran a short-term test of the first FUV HUB rental location in Eugene, Oregon, garnering valuable insight into the operational overhead and consumer demand involved in our rental business model.
• Showcased the Arcimoto FUV at public test drive events nationwide, including New York, Illinois, Missouri, Colorado, Washington, Oregon, California, Arizona, Texas, Louisiana, and Florida.
• Demonstrated the FUV at several notable industry and investor events across the country, including the Concours d’Elegance, several National Drive Electric Week events, Battery Electric Vehicle Architecture Congress, and SEMA, as well as multiple investor conferences, including the LD Micro Big Apple Summit and the Microcap Conference.

Management Commentary

“I am pleased to announce another quarter of solid operational execution, highlighted by the completion of our 15-unit Beta Series production and initiation of 6 test vehicles, prior to our first production Release Candidates,” said Mark Frohnmayer, Founder and President of Arcimoto. “These next FUVs will test our retail production-intent mechanical and electrical designs, and will leverage our in-house semi-automated manufacturing processes more so than ever before.

“We accelerated vehicle marketing activities throughout the quarter as well, bringing the FUV to industry events, meetings with the media, investor conferences and numerous experience events for our passionate supporter base throughout the United States.