[Sent as an email to our newsletter list on May 15, 2019. Sign up to receive these emails here. Already on the list but aren’t receiving our emails? Contact us at email@example.com to sort the problem.]
The last six weeks have been a blur of activity at Arcimoto as we push towards retail market launch of the Fun Utility Vehicle. Founder and President Mark Frohnmayer gave a detailed update on the milestones remaining during Arcimoto’s Q1 2019 earnings webcast, which you can view here:
- We outlined our two high level sequential goals: deliver our first retail vehicles, and then drive down cost as we increase scale of production.
- We must pass four remaining key tests in order to certify the retail Fun Utility Vehicle for market readiness. Test vehicles and fixtures for all four tests have been built and are en route to test labs around the county. All four tests are scheduled in the next three weeks.
- We reiterated our guidance from the beginning of the quarter that we plan to start delivering Evergreen Edition FUVs to customers in June.
This past weekend at the AMP here in Eugene, we held our annual shareholder meeting, followed by a Spring Open House, complete with factory tours, FUV test drives, the best dang Vietnamese food in town from our friends at the legendary Da Nang food truck, and finally, a first look at the FUV Evergreen Edition. A big thank you to all our friends, family, and investors who continue to support our mission to catalyze the shift to a sustainable transportation system. We wouldn’t be here without such a devoted and passionate community.
Speaking of the Evergreen, in the coming weeks, we plan to reach out to each of our Evergreen reservation holders to review paperwork, plan delivery, and prepare for each vehicle’s production and sale. We’ll also discuss options for financing and insurance.
As we begin production, we’ll ramp up our awareness-building efforts, starting with the Wall Street Journal Future of Everything Festival on May 20-22 in New York City. We’ll be showing off the Rapid Responder prototype, plus a virtual-reality FUV ride though the Oregon countryside.
We believe that vehicles built on the Arcimoto platform are more than just insanely fun to drive — they can save lives, deliver the goods, and pave the way forward to a future where vehicles are the right size for the job. We believe the tens of thousands of domestic fire stations, corporate and college campuses, stadiums and security organizations looking for ways to reduce emissions and operating costs will find that the Rapid Responder can fill immediate and important needs.
If you or someone you want to deeply impress with a next-generation transportation experience have yet to drive an FUV, we’ll have a comprehensive list of the “Summer of FUV” events coming later this summer.
Thank you for your continued enthusiasm and support. This is an incredibly exciting time at Arcimoto as we push through the final milestones before retail series FUV production, a journey more than eleven years in the making. There’s never been a more important time to drive electric, and there’s never been a more opportune moment to rightsize the basic footprint of everyday mobility. We look forward to seeing you on the road very soon!
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.