145 0 Kommentare Arcimoto Announces Full Year 2019 Financial Results and Provides Corporate Update

Arcimoto, Inc. (Nasdaq: FUV) (“Arcimoto” or the “Company”), makers of the Fun Utility Vehicle (FUV), an affordable, practical, and thrilling pure electric vehicle for everyday commuters and fleets, today provided a corporate update and announced financial results for the fiscal year ended December 31, 2019.

The Company will be broadcasting a company update video as part of the webcast. The video can be viewed at https://youtu.be/Z3Zdm3bkll8.

2019 and Recent Company Highlights:

Arcimoto announced the completed Federal Motor Vehicle Safety Standards regulatory testing for its flagship FUV product and began commercial production of and delivery to its first retail customers on September 19, 2019. In total, Arcimoto manufactured 53 retail FUVs and delivered 46 units by the end of 2019. Notably, in Q4 alone, the Company built more vehicles than in the previous twelve years combined. Net pre-orders increased by 980 over the course of 2019 to a total of 4,197 as of December 31.
At the end of 3Q19, the Company signed its first rental franchise in Key West with R-KEY-MOTO, LLC and subsequently delivered its first 8 FUVs to the franchisee by the end of 2019, intended for use by tourists.
Early in 4Q19, the Company delivered the first of what is planned to be 40 FUVs to GoCar Tours of San Francisco for GPS-guided tours.
The Company made its first international shipment of FUVs as part of its agreement with New Zealand-based EV Distributors to deliver a minimum of 160 Arcimoto vehicles over the next four years.
Arcimoto participated in several tradeshows and events in 2019, including showcasing the Rapid Responder at the Wall Street Journal Future of Everything Festival, addressing the Canaccord Genuity Future of Transport Conference at the Singularity University’s Exponential Manufacturing Summit in Bangkok, Thailand, as well as presenting at multiple investor conferences, including the 12th Annual LD Micro Main Event, Dougherty & Co. Institutional Investor Conference, and 9th Annual LD Micro Invitational.
Arcimoto was featured in dozens of media pieces during 2019 and now 2020, including Forbes, Ars Technica, Tom’s Guide Mashable, Cheddar, and Portland Business Journal.
Arcimoto reached an agreement for Road America to provide nationwide 24-hour roadside assistance and access to its network of 170,000 pre-certified repair centers to FUV owners.
Arcimoto has initiated pilot programs for the Company’s fleet-based platform offerings with the Eugene-Springfield Fire Department for the Rapid Responder and with local nonprofit Carry It Forward for the Deliverator. The Company has signed a contract to expand the Deliverator pilot program to include a major national grocer in Q2 2020.