[Sent as an email to our newsletter list on April 6, 2019. Sign up to receive these emails here. Already on the list but aren’t receiving our emails? Contact us at firstname.lastname@example.org to sort the problem.]
If the first quarter is any indication, 2019 is quickly shaping up to be the most exciting and action-packed year in Arcimoto history. Let’s get right to the highlights.
- In February, we unveiled our flagship FUV, the Evergreen Edition, which will be launching on the West Coast to our earliest pre-order customers this summer.
- We introduced the second vehicle built on the Arcimoto platform, the Rapid Responder. Custom built for emergency services and law enforcement, the Rapid Responder can get to the scene faster than traditional diesel-powered EMS vehicles, at a fraction of the cost. Later this year, we will begin testing our first Rapid Responders in pilot programs with Eugene Springfield Fire in Oregon, and the City of Eastvale in California. We expect to begin delivery of the Rapid Responder in 2020.
- We also announced the Deliverator, a single-seat vehicle built for local and last mile delivery. If you’ve ever been stuck behind a giant delivery truck that’s blocking traffic during rush hour, you’ll understand. The Deliverator can be custom built for everything from pizza to parcels. We are particularly fond of Woody, the old-meets-new stake-bed concept version. The Deliverator is the third vehicle built on the Arcimoto Platform, and will begin deliverating in 2020.
- In Q1, we more than tripled our net preorder gain from Q4 2018, advancing from 3,217 to 3,883 Arcimoto preorders.
- And just this week, we completed our pilot assembly line at the AMP. For the next few weeks, we’ll hone and refine our manufacturing processes at each of the stations on the new line. For a new factory making a completely new vehicle, this is an incredible milestone and we couldn’t be prouder. For an inside look at Mark cutting the ribbon on the new line, check out this video.
That about does it for an amazing Q1 here at Arcimoto. For more, we invite you to check out our recent 10K-filing, or watch our 2018 Annual Earnings webcast.
What’s next, you may be wondering? In no particular order, we’ll begin delivery of the Evergreen on the West Cost. We’ll be opening new rental locations in destination cities worldwide, beginning with the FUV HUB San Diego with our partners at Hula Holdings. And, of course, we’ll continue taking reservations for our remaining allocation of 2019 Evergreens.
If you happen to be in the San Diego area on Sunday, April 14, come on by the La Jolla Concours d’Elegance. Alongside 130 exotic and one-of-a-kind automobiles, we’ll be displaying two of our favorite FUVs, the beloved Orange and Blue. Stop on by, grab a seat in the cockpit, and snap a picture. FUVs aren’t classic cars, but they are instant classics. Also, we were told there would be chocolate.
As always, Arcommunity, thank you for your support. It’s never been more important to drive electric. Until next time, think big, drive small, enjoy the ride!
Except for historical information, all of the statements, expectations, and assumptions contained in this newsletter 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 and include, without limitation, our expectations as to production and delivery of the Evergreen, the Rapid Responder, and the Deliverator, the establishment of our service and delivery network, our expected rate of production and our expected establishment of rental outlets. 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 business plan and growth strategy; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; the outcome of the Rapid Responder pilot program; the acceptance of the Deliverator; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our dependence on suppliers; the number of reservations and cancellations for our vehicles and the ability to deliver on those reservations; our reliance on key personnel; 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; 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; 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.