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Q3 2021 Stakeholder Update

By October 12, 2021No Comments

Today we presented a webcast for our Q3 2021 Stakeholder Update. In the past we have done these webinars in conjunction with the submission of our quarterly SEC earnings filings. In order to provide more transparency to our stakeholders, we are moving to a model where we provide more timely updates on the happenings of the prior quarter in advance of the completion of audited financials and reports.

Also highlighted in this update:

  • Q3 saw record deliveries! We nearly set a record for total number of vehicles built if not for the shortage of a single part on 11 units. (Note that these results are unaudited. Final numbers will be reported in our Q3 SEC filings.)
  • ATVM and Project Prism: significant progress made on defining cost-down programs for all subsystems of both the platform as a whole and the individual vehicle models. We expect to submit a final draft of our application to the US Department of Energy for an ATVM loan in the fourth quarter.
  • Rental and Rideshare: Q3 was the first full quarter of Arcimoto-owned rental operations in both San Diego and Eugene. We are gathering useful data to optimize the rental model.
  • Doors! First production doors have been installed on the FUV of an early Evergreen customer. Many more to come in Q4.
  • Flatbed update: first pilots very well-received after use in the field with local businesses.
  • Second Annual Fall FUV Rally featuring a drive through the rAMP.
  • The Ride of the Arconauts launches Saturday at Thunderhill! Sign up to receive notification when the caravan will be riding through your area.

Also, be sure to check out the recent Q&A with Freelancer Finance.

Take care, and see you on the road!
Team Arcimoto

Safe Harbor/Forward-Looking Statements:
Except for historical information, all of the statements, expectations, and assumptions contained in this press release 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. 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. 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.