239 0 Kommentare Arcimoto Announces Full Year 2020 Financial Results and Provides Corporate Update

Arcimoto, Inc., (NASDAQ: FUV) makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, today provided a corporate update and announced financial results for the fiscal year ended December 31, 2020.

2020 and Recent Company Highlights:

Delivered 97 vehicles to customers in 2020, an increase of 110% over the prior year, despite production shutdowns in each of the four quarters, as well as supply chain interruptions due to COVID-19.

Expanded the Arcimoto platform family with the launch of production pilots of the Rapid Responder, developed for first responders and security uses, and the Deliverator, targeting last-mile delivery and general fleet utility uses.

Achieved the strongest financial foundation in Company history by executing a series of above market capital raises garnering net proceeds of approximately $52.9 million. Eliminated all non-equipment-financing debt ($3.9 million) through the retirement of convertible and senior secured notes.

Teamed with DHL to enable nationwide home delivery of Arcimoto vehicles, achieving an important milestone for the Company’s direct-to-customer sales model in preparation for mass production.

Partnered with Munro and Associates to plan for high volume production and to evaluate Arcimoto manufacturing processes and supply chain in order to drive down costs and accelerate scale.

Expanded customer sales into Florida, the Company’s first East Coast state.

Unveiled the fourth product concept, the Cameo, targeting the film and influencer industry, and our fifth product concept, the Arcimoto Roadster, an open-air all-electric road trike, which recently made its debut at Dayton Bike Week.

Entered into pilot programs with HyreCar, Wahlburgers Key West, Carry It Forward, the City of Orlando, and others, which have provided invaluable product feedback as we design future models to meet their respective needs before scaling production.

Completed the purchase of Tilting Motor Works, makers of patented tilting trike technology that will serve as the foundation for new Arcimoto products aimed at micromobility.

Selected and agreed to purchase a new manufacturing plant, the rAMP. With a facility footprint of approximately 220,000 square feet across 10.7 acres, the Company is planning for a manufacturing capacity of 50,000 units per year once fully operational. This transaction is anticipated to close on April 19, 2021.

Joined ZETA, the Zero Emission Transportation Association, which has the goal to electrify all vehicle sales by 2030.

Prioritized the health and safety of the Arcimoto team by implementing robust pandemic protocols including remote work, social distancing, face mask requirements, temperature checks, and surface testing.