Arcimoto, Tennessee Clean Fuels, and Drive Electric Tennessee Launch Statewide Pilot Program to Test Ultra-Efficient Electric Vehicles

Arcimoto, Inc.® (NASDAQ: FUV), makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, today announced that it has entered into a joint pilot program with Tennessee Clean Fuels and Drive Electric Tennessee to test the FUV and Deliverator in key cities across the state.

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Arcimoto, Tennessee Clean Fuels, and Drive Electric Tennessee launch statewide pilot program to test Arcimoto FUV and Deliverator in key cities across the state. (Photo by Arcimoto)

Over the course of the 30-day pilot program beginning on August 16, Arcimoto vehicles will be tested by state and local governments in key cities including Memphis, Nashville, Knoxville, and Chattanooga. If you’re interested in attending a test drive event, please email info@etcleanfuels.org.

“It’s incredibly encouraging that our Tennessee partners want to introduce our ultra-efficient EVs to the state,” said Arcimoto Founder and CEO, Mark Frohnmayer. “The Arcimoto platform offers big advantages in terms of daily utility, total cost of ownership, and energy efficiency. It’s critical for fleets and individuals alike to use the most efficient tools for the job in order to meet the state's aggressive sustainability goals, and we think we’ve got just the thing.”

In Tennessee, several organizations are already hosting programs to promote transportation electrification, including the Middle-West and East Tennessee Clean Fuels Coalitions, known collectively as Tennessee Clean Fuels. These U.S. DOE designated Clean Cities Coalitions offer fleet engagement and technical assistance programs to promote the adoption of alternative fuels and advanced vehicle technologies. Along with these Coalitions is Drive Electric Tennessee, a consortium of Tennessee stakeholders—including State agencies, utilities, local governments, universities, research institutions, electric vehicle manufacturers, businesses, and advocacy groups—who have worked together on the development of a shared vision for electric transportation in the state. The consortium’s goal is to increase EV adoption in Tennessee from approximately 13,800 EV in June 2021 to 200,000 vehicles by 2028.

“Improving access to sustainable transportation not only improves public health for Tennesseans but contributes to a strong economy by protecting our natural resources and limiting the reliance on fossil fuels across the state,” said Jonathan Overly, Executive Director for the East Tennessee Clean Fuels Coalition and Administrator of Drive Electric Tennessee. “We hope this pilot will serve as a meaningful step in making electric transportation more efficient and accessible, while improving public health, equity, and access.”

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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 on the West Coast, 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 product 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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