EUGENE, Ore.--(BUSINESS WIRE)--Sep 7, 2018--Arcimoto, Inc.® (NASDAQ: FUV) — makers of the Fun Utility Vehicle® (FUV®) — an affordable, thrilling, pure electric vehicle for everyday commuters and fleets, along with the Technology Association of Oregon and Uber, ushered in the age of ridesharing in the Eugene-Springfield area on September 6.

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Arcimoto FUVs flank the ceremonial first Uber ride through Eugene streets. (Photo: Business Wire)

“It was a true honor to kickoff ridesharing in Eugene at Arcimoto headquarters,” said Arcimoto Founder and President Mark Frohnmayer. “Arcimoto and Uber share the vision of a sustainable transportation system, and we believe the Arcimoto platform has a significant role to play in shared mobility fleets.”

Arcimoto hosted Uber’s return to the Eugene-Springfield area at the Arcimoto Manufacturing Plant after a three-year absence. Four FUVs formed a motorcade for the ceremonial first ride. Technology Association of Oregon (TAO) Vice President Matt Sayre escorted honorary passengers Eugene Mayor Lucy Vinis and Springfield Mayor Christine Lundberg around the Eugene streets surrounding Arcimoto Headquarters.

“This occasion represented something far more real than just ceremony,” said Sayre. “Today we were at the nexus of collaboration among Oregon cities, between state government and industry, connecting the world’s first Fun Utility Vehicle company with one of the world’s hottest technology companies. It felt really special to be Uber’s driver zero.”

Uber originally operated in the Eugene-Springfield area from 2014-2015, but suspended operation because of city regulations. In the interim, Eugene was the largest city in Oregon without any ridesharing service.

According to the Technology Association of Oregon, which was instrumental in bringing Uber back, “a coalition of TNC [Transportation Network Companies] supporters, including the Eugene and Springfield Area Chambers of Commerce, local student leaders, and members of the Technology Association of Oregon, advocated that the city council take action that would enable companies like Uber to operate in Eugene.”

Frohnmayer sees this as a sea change for the area, opening the door to the future of transportation in his own backyard, concluding, “We look forward to the role Arcimoto will play on the road of tomorrow.”

About Arcimoto, Inc.

Headquartered and manufactured in Eugene, Oregon, Arcimoto, Inc. (NASDAQ: FUV) is devising new technologies and patterns of mobility that together raise the bar for environmental efficiency, footprint and affordability. Available for pre-order today with a target base model purchase price of approximately $11,900, Arcimoto’s Fun Utility Vehicle is one of the lightest, most affordable, and most appropriate electric vehicles suitable for the daily driver. For more information please visit www.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. 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: fluctuations in our financial results; our ability to effectively execute on our developing growth strategy; our ability to design, manufacture and market vehicle models within projected timeframes; 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.

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CONTACT: Arcimoto, Inc.

Investor Relations Contact:

MZ Group – MZ North America

Greg Falesnik, 949-385-6449

Managing Director

FUV@mzgroup.us

www.mzgroup.us

or

Public Relations Contact:

Skyya Communications

Susan Donahue, 646-454-9378

Managing Director

FUV@skyya.com

www.skyya.com

KEYWORD: UNITED STATES NORTH AMERICA OREGON

INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE FLEET MANAGEMENT PERFORMANCE & SPECIAL INTEREST

SOURCE: Arcimoto, Inc.

Copyright Business Wire 2018.

PUB: 09/07/2018 12:01 PM/DISC: 09/07/2018 12:01 PM

http://www.businesswire.com/news/home/20180907005303/en