Faction and Arcimoto Announce Commercial Teaming and Joint Investment Agreement for Co-Development of Driverless Vehicle Platforms

Today, Faction Technology, Inc., a self-driving technology provider for low-cost driverless fleets, and Arcimoto, Inc. (NASDAQ: FUV), the leading North American manufacturer of ultra-efficient and affordable electric vehicles, announced a strategic and joint investment agreement to scale driverless vehicle fleets.

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Self-driving Faction vehicles developed on the Arcimoto EV platform (Photo: Business Wire)

The combination of Faction's DriveLink and TeleAssist technologies allows Arcimoto platform vehicles to integrate driverless capabilities with the ability for remote human teleoperation. This driverless vehicle system is designed to maintain the core strengths of the Arcimoto platform, including a top speed of 75 mph and a range of just over 100 miles. Faction’s technology can be applied to any variant of the Arcimoto vehicle, providing a customizable and versatile solution for fleet customers in the logistics and transportation sectors. By integrating their respective technologies, Arcimoto and Faction aim to offer a highly efficient, eco-friendly, and economical solution for urban mobility, while also reducing carbon emissions.

“Developing a scalable driverless vehicle system requires a fundamental reimagining of the engineering design, starting from the chassis up. Partnering with Arcimoto allows us to accelerate the deployment of driverless fleets, far surpassing the capabilities of legacy vehicle designs,” stated Ain McKendrick, CEO of Faction. “The Arcimoto vehicle platform has been thoughtfully designed with scalability in mind, making it an ideal platform for the integration of self-driving technology. The collaborative efforts of our engineering teams have resulted in a plan for the mass production of driverless vehicles with minimal configuration changes to the Arcimoto production line.”

Faction and Arcimoto have identified fleet customers in the logistics and transportation sectors as their primary target market for their driverless electric vehicle solution. Both companies share the belief that right-sizing these vehicles will provide a significant boost in efficiency, reduce carbon emissions, and offer cost savings over existing urban mobility offerings. The combination of Faction's self-driving technology with Arcimoto's ultra-efficient and affordable electric vehicles offers a highly scalable solution that can be quickly deployed to meet increasing demand for efficient transportation.