Arcimoto Demonstrates First Driverless FUV, Debuts Production Roadster and Arcimoto Flatbed at FUV and Friends Summer Showcase

The company and partners exhibited new torque vectoring technology that will improve handling for all Arcimoto vehicles via future software update, among many other highlights.

Arcimoto, Inc.® (NASDAQ: FUV), makers of fun, affordable, and ultra-efficient electric vehicles for everyday drivers and fleets, and its partners debuted the first production Roadsters, demonstrated the first ever driverless FUV, unveiled new torque vectoring technology that will improve handling of all Arcimoto vehicles via a future software update, and revealed the Arcimoto Flatbed utility vehicle at this year’s FUV and Friends Summer Showcase at the Portland International Raceway on July 26.

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“At the end of the day, sustainability is a social networking exercise: through dedicated collaboration with outstanding partners we believe we can make real the vision of a truly sustainable transportation system,” said Mark Frohnmayer, Arcimoto Founder and CEO. “It’s an honor to unveil the amazing work of our team and our partners as we push resolutely toward a clean transportation system that will work for everyone, everywhere. As the challenges of climate change mount seemingly every day, one thing is clear: the way forward is together.”

The Arcimoto Roadster

Arcimoto unveiled the first production Roadsters, designed to be the ultimate on-road fun machines, which were outfitted with prototype accessories including a surf rack, a OneWheel carrier, and the Doge Carrier sidecar. “From the very first ride, I knew the Roadster would deliver a ride like no other machine on the road. It’s the purest incarnation of the Arcimoto Platform: low and forward center of gravity, the dual-motor front wheel drive system that pulls you down the road, and the ability to actively shift your weight in concert with the ride. The Roadster is an extension of your will to move, and we are very excited to bring it into the world,” said Frohnmayer.

Torque Vectoring and Drive-By-Wire

Stafl Systems, founded by brilliant electrical engineer and Arcimoto alum Erik Stafl, demonstrated a new torque vectoring technology that dramatically improves steering at low speeds. The improvements are planned for all Arcimoto vehicles via a software update expected to be released in 2022. The torque vectoring implementation is part of a broader effort to enable true drive-by-wire in order to lay the foundation for autonomous and remote-controlled Arcimotos. “This is a game changer, and the single biggest improvement to the handling of our vehicles since we unveiled Arcimoto’s Generation 8 prototype in 2016,” said Frohnmayer.

Driverless Arcimotos

Faction Technology, based in South San Francisco, demonstrated the first ever driverless FUV using remote control, a step forward toward true ride-on-demand, where riders will be able to summon a vehicle to their location and then hop in and drive. “Our vision is very much in line with Arcimoto’s mission, which is to rightsize transportation for both delivery and ride on demand, ” said Ain McKendrick, Faction Founder and CEO. “Driverless combines autonomy with the ability to remote assist a vehicle when you need it, because the magic is really when the vehicle arrives driverlessly.”

The Arcimoto Flatbed

Eugene-based SherpTek, makers of precision engineered truck decks and truck trays designed to be the lightest on the market, unveiled the first two prototypes of the Arcimoto Flatbed, built based on feedback from the City of Orlando following a joint municipal pilot program in 2020. “We utilized every single square inch of space that we could,” said Ryan Goodwin, CEO and Founder of SherpTek while demonstrating a fully loaded Flatbed. “This thing is packed with all my mountain biking gear, all my kiteboarding gear, my stand-up paddleboard for whitewater... It's got a cooler full of drinks, a table, a chair, a yoga mat. It’s outfitted for a day full of activity.”

Oregon Governor Kate Brown addressed the crowd to open the Showcase just prior to signing House Bill 2021 on Tuesday, which lays out one of the most aggressive timelines for eliminating carbon dioxide emissions in the country. “House Bill 2021 will make sure Oregon will have the most progressive clean energy standard in the entire country— 100 percent clean, green by 2040,” she said. “Clearly climate change is here and we have to do everything in our power to move forward and tackle it. Arcimoto is the only [public] EV company in Oregon, but it’s not going to be the last if I have anything to say about it.”

Other partners that attended the Summer Showcase included the automotive legends at Munro & Associates, Sundberg-Ferar, Redivivus, UBCO, T3 Motion, JuiceBar, GT Automotive Design, and the Equal Vote Coalition. A full video recap of the Summer Showcase will be shared soon. Click here to watch our latest company video.

For the latest company updates, follow Arcimoto on YouTube, Facebook, Instagram, Twitter, and LinkedIn. A replay of the Company’s latest quarterly earnings webinar can be viewed here. For more information, visit Arcimoto.com.

About Arcimoto, Inc.

Arcimoto (NASDAQ: FUV) develops and manufactures ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Now available to preorder customers in California, Oregon, Washington, and Florida, the Arcimoto FUV® is purpose-built for everyday driving, transforming ordinary trips into pure-electric joyrides. Available for preorder, the Deliverator® and Rapid Responder™ provide last-mile delivery and emergency response functionality, respectively, at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Two additional concept prototypes built on the versatile Arcimoto platform are currently in development: the Cameo™, aimed at the film and influencer industry; and the Roadster, designed to be the ultimate on-road fun machine. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.

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 and include, without limitation, our expectations as to vehicle deliveries, the establishment of our service and delivery network and our expected rate of production. 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 manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; 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; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; 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; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that 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.

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