Arcimoto moves from Beta to Pilot production.
Arcimoto, the Oregon-based manufacturer of the three-wheeler electric vehicle - Fun Utility Vehicle - announced that it has completed first drives of its 15-unit FUV Beta Series.
Betas will be used for rental purposes (5 in Oregon, 5 in California) or were purchased by Arcimoto Pioneers, a group of key, early pre-order customers.
"The Company expects that the Beta fleet will be used primarily as rental vehicles. Five are planned for use at an Arcimoto rental location, expected to open in the fourth quarter in Eugene, Oregon. Five are planned for use as rentals by the Company’s partner, HulaCar in San Diego. The final five FUVs have been purchased by Arcimoto Pioneers, a group of key, early pre-order customers."
As the Beta hits the road, the company began manufacturing its new 25-unit Pilot Series. The last step will be series production for customers.
"The Pilot Series, now in production, marks the transition to semi-automated manufacture of all custom frame and chassis components completely in-house at the Arcimoto Manufacturing Plant. These vehicles represent the final production series of the FUV before Retail Series production begins, expected by the end of 2018."
Arcimoto says that demand for FUV is strong with more than 3,000 pre-orders (at $100 refundable deposits each). The average price of FUVs is expected to be $15,000.
Mark Frohnmayer, President and Founder said:
“On-roading the Beta Series is a huge step forward for Arcimoto. Our pace of production has improved between the Signature and Beta Series, from more than a year for the ten Signatures to just over a quarter for the first drives of fifteen Betas. We expect a similar increase in pace with the Pilot Series. With each FUV we build, we learn invaluable lessons on how to refine and streamline our manufacturing process as we march toward Retail Series production, expected later this year. The starting line is in sight, and we couldn’t be more amped.”
In the 12-month period following its September 21, 2017 IPO, Arcimoto has:
- Tripled the size of its staff, which now totals 77 full-time employees.
- Moved operations from a bodega design studio to the Arcimoto Manufacturing Plant (AMP).
- Improved manufacturing capabilities, demonstrating the ability to produce a finished vehicle from raw materials entirely in-house at the AMP.
- Completed production of ten Signature Series FUVs and begun a 15-unit Beta Series production run, reducing build time while improving vehicle quality.
- Announced the first two Arcimoto rental locations to open in Oregon and California, anticipated in Q4, 2018, which will combine rental operations and customer options.
- Grown pre-orders of the FUV to more than 3,000 units and counting.
- Demonstrated the FUV across the country, including major commercial auto shows, electric vehicle industry events, consumer ride-and-drives, and investor conferences.
- Rung the Closing Bell at the NASDAQ MarketSite in April 2018