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Arcimoto Unveils Flagship Electric Vehicle, FUV Evergreen Edition

February 7, 2019

EUGENE, Ore.--(BUSINESS WIRE)--Feb 7, 2019--Arcimoto, Inc.® (NASDAQ: FUV) announced today that it is now accepting customer reservations for its new flagship electric vehicle, the FUV Evergreen Edition, in Oregon, California, and Washington. The Evergreens will be the world’s first FUVs available for retail purchase, with first customer deliveries planned for spring.

“In 2007, we set out to build the world’s most affordable and efficient everyday electric vehicle that also happens to be insanely fun to drive. The FUV Evergreen Edition is the realization of that vision,” said Arcimoto Founder and President Mark Frohnmayer. “With the FUV, you save money on gas, time on parking, and your daily commute is transformed into a pure electric joyride. Finally, a practical, American-made solution to the two greatest challenges facing the world today: global warming and getting groceries.”

Built in the Pacific Northwest with state-of-the-art equipment at the Arcimoto Manufacturing Plant in Eugene, Ore., the Evergreen has a top speed of 75-mph, an estimated city driving range of 100 miles per charge, and comes pre-loaded with heated seats, heated grips, Bluetooth speakers, removable doors, lockable rear storage, Level 1 charging cable, and HOV lane access. Customers will have their choice of base and accent colors. Rockstar parking comes standard.

An affordable everyday electric vehicle for everyone, the Evergreen is priced at $19,900 before gas savings, available tax credits, and rebates. Depending on location, FUV owners may also qualify for sales tax exemptions, utility rate discounts, free parking, toll discounts, insurance discounts, and other benefits.

Starting today, Arcimoto will reach out to its earliest pre-order customers in Oregon, California, and Washington to confirm their Arcimoto reservations. Customers who decide to reserve an Evergreen Edition will then choose colors and make a non-refundable reservation payment to secure their place in the production queue.

Arcimoto expects to deliver the first 100 Evergreens by end of June 2019. As Arcimoto expands its service and delivery networks, it expects to begin delivery to other states, with the goal to deliver all current US-based pre-orders by the end of Q2, 2020.

“As we scale operations and drive down costs, we intend to introduce more options and accessories and ever more affordable variations of the FUV,” Frohnmayer said. “The Evergreen epitomizes our commitment to an American-made everyday electric vehicle that is affordable for everyone. It is the FUV by which all other FUVs will be measured.”

For more information, visit www.arcimoto.com/evergreen-edition.

Evergreen Press Assets: including images and teaser video.

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, 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 and include, without limitation, our expectations as to Evergreen deliveries, the establishment of our service and delivery network and our expected rate of production. 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; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our dependence on suppliers; 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 maintain quality control over our vehicles and avoid material vehicle recalls; 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; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; and unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility. 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190207005231/en/

CONTACT: Investor Relations Contact:

Greg Falesnik

Managing Director

MZ Group – MZ North America

Main: 949-385-6449

investor@arcimoto.com

Public Relations Contact:

Susan Donahue

Managing Director

Skyya Communications

Main: 646-454-9378

pr@arcimoto.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA OREGON WASHINGTON

INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE ENVIRONMENT GENERAL AUTOMOTIVE

SOURCE: Arcimoto, Inc.

Copyright Business Wire 2019.

PUB: 02/07/2019 07:00 AM/DISC: 02/07/2019 07:01 AM

http://www.businesswire.com/news/home/20190207005231/en

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