Arcimoto re-confirmed its goal to produce the first batch of 100 FUV Evergreen Edition electric three-wheelers in the second-quarter of 2019 with first deliveries to retail customers scheduled for June.
The company encourages that all 100 units allocated for Q2 were reserved with $5,000 non-refundable fees.
The total number of pre-orders of the FUVs as of March 31, 2019 stands at 3,883 (up from 3,217 at the end of 2018 and 2,461 a year earlier).
The FUV Evergreen Edition costs currently $19,000 and according to Arcimoto, it can go 100 miles (161 km) on the EPA City Cycle Driving Schedule.
Arcimoto FUV Evergreen Edition specs:
- Acceleration 0-60 mph (96.5 km/h) in 7.5 seconds
- Top Speed of 75 mph (121 km/h)
- Range of 100 miles (161 km) - Estimated based on the EPA City Cycle Driving Schedule
- Power 81 bhp
- Shipping Weight 1,300 lbs.
- GVWR 1,800 lbs.
So far, Arcimoto didn't yet start sales, which is reflected in its financial results. In 2018 total revenues amounted $94,996 (down from $127,016 in 2017), while the net loss was $1.1 million (compared to $3.3 million loss in 2017).
In Q1 2019 the revenues (from merchandise sales and metal fabrication revenue) were just $2,645 (compared to $656 year earlier) at a net loss of $2.9 million (2.0 million in Q1 2017).
The first batch of 100 vehicles would finally bring the revenues to some $1.9 million. In the longer term, Arcimoto hints at $66 million of anticipated revenues if all pre-orders will be fulfilled.
The production is hoped to gradually increase to 200 vehicles per week, sold at 20%+ gross margin (target).
The first-quarter ended with $4.9 million in cash and cash equivalents.
Besides the vehicles for retail customers, Arcimoto introduced:
- Rapid Responder for emergency and security services
- Deliverator for local and last-mile delivery
Additionally, it hopes to license its EV platform to other manufacturers.
Arcimoto 2019 Q1 Earnings Webcast