Arcimoto Announces Grand Opening of Arcimoto San Diego on May 28

Arcimoto, Inc.® (NASDAQ: FUV), makers of fun, affordable, and ultra-efficient electric vehicles for everyday drivers and fleets, today announced that Arcimoto San Diego will begin renting FUVs on Friday, May 28. You can book your rental today at Arcimoto.com/rental.

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FUV rentals will begin on Friday 28 at Arcimoto San Diego. Reserve your FUV at arcimoto.com/rental (Photo: Business Wire)

“From the very first drive of an FUV, we knew our electric vehicles were unlike anything else on the road today, and simply must be experienced to be believed,” said Eric Fritz, CMO of Arcimoto. “Our rental facility in San Diego is perfectly situated to introduce the FUV to tourists and locals alike, and we look forward to announcing new rental locations in destination cities around the world. There’s simply no better advertising for our vehicles than that very first ride in an FUV.”

Arcimoto hosted a customer appreciation test drive weekend at Arcimoto San Diego on May 8-9. On Arcimoto’s Q1 Earnings Webinar on May 17, CEO Mark Frohnmayer highlighted a recent trip to Arcimoto San Diego and mentioned the imminent announcement of the facility’s opening.

“We are committed to putting as many butts in seats as humanly possible this summer,” said Mark Frohnmayer, Founder and CEO. “The opening of this facility in San Diego is one step of many planned this year to drive awareness and experience, and to build data around the revenue models that we have outlined in our quarterly reports.”

Arcimoto San Diego is located at 630 Tenth Avenue in the heart of the East Village and blocks away from Petco Park and the historic Gaslamp Quarter. From there, FUV riders can explore San Diego’s beautiful beaches, world-class restaurants, iconic Balboa Park and the San Diego Zoo, Coronado island, and Old Town San Diego.

San Diego is the third Arcimoto rental location, with rentals also available at Arcimoto Key West and GoCar Tours in San Francisco.

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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