• Home
  • Motorcycles
  • Electric Motorcycles
  • 3 wheelers
  • FUV Electric 3 wheeler
  • Shop
  • Listings

Subscribe to Updates

Get the latest creative news from CycleNews about two, three wheelers and Electric vehicles.

What's Hot

Best 6 Soda Makers (2025): Drinkmate, SodaStream, Aerflo

This New Watch Is Being Purpose-Built for Space Exploration—and It’s Not an Omega

Snake Venom, Urine, and a Quest to Live Forever: Inside a Biohacking Conference Emboldened by MAHA

Facebook Twitter Instagram
  • Home
  • Motorcycles
  • Electric Motorcycles
  • 3 wheelers
  • FUV Electric 3 wheeler
  • Shop
  • Listings
Facebook Twitter Instagram Pinterest
Cycle News
Submit Your Ad
Cycle News
You are at:Home » Arcimoto, Maker of Electric Three-Wheeled Vehicles, Cuts Jobs as Stock Dives
FUV Electric 3 wheeler

Arcimoto, Maker of Electric Three-Wheeled Vehicles, Cuts Jobs as Stock Dives

cycleBy cycleJuly 30, 202302 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


Arcimoto, the Eugene-based maker of three-wheeled electric vehicles, says it will use a combination of layoffs and furloughs to slash payroll expenses by one-third as its formerly high-flying stock speeds toward zero.

Shares of the company, once one of the most valuable in Oregon, last traded at $1.39, down from $32 in early 2021.

“Today’s cost restructuring is a direct response to the macroeconomic environment conditions and supply chain issues we are facing,” interim CEO Jesse Fittipaldi said in a statement. “We love our team, but these difficult steps are necessary in order to maximize our current resources, reduce operating expenses across the board, and generate increased value for our shareholders.”

Fittipaldi took over as CEO from company founder Mark Frohnmayer in August after Frohnmayer was arrested for drunken driving in an Arcimoto vehicle. Frohnmayer, a gaming-software engineer who started Arcimoto to combat climate change, was demoted to chief vision officer. He is the son of late Oregon Attorney General Dave Frohnmayer.

Arcimoto sold shares to the public in 2017. Excitement about electric vehicles drove the company’s valuation to $1.25 billion in early 2021, making Frohnmayer one of the wealthiest Oregonians, with a stake worth more than $100 million.

An Arcimoto spokeswoman declined to say how many workers the company planned to cut and furlough.





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleRadTrike review: Testing out Rad Power Bikes electric 3-wheeler
Next Article 2024 KTM XC-W Lineup Test [300, 250, and 150 Reviewed]
cycle
  • Website

Related Posts

Arcimoto and Lightning Motorcycles Begin Development of World’s Fastest Electric Three-Wheel Tilting Motorcycle – Business Wire

June 22, 2025

Arcimoto FUV First Drive Review: Sometimes You Just Need a Little Fun – MotorTrend

June 22, 2025

Oregon Fire Department Now Testing Electric Three-Wheel Vehicle – Business Insider

May 10, 2025
Add A Comment

Leave A Reply Cancel Reply

You must be logged in to post a comment.

Demo
Top Posts

Best 6 Soda Makers (2025): Drinkmate, SodaStream, Aerflo

June 25, 2025

The urban electric commuter FUELL Fllow designed by Erik Buell is now opening orders | thepack.news | THE PACK

July 29, 2023

2024 Yamaha Ténéré 700 First Look [6 Fast Facts For ADV Riding]

July 29, 2023
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest Reviews

Subscribe to Updates

Get the latest tech news from FooBar about tech, design and biz.

Demo
Most Popular

Best 6 Soda Makers (2025): Drinkmate, SodaStream, Aerflo

June 25, 2025

The urban electric commuter FUELL Fllow designed by Erik Buell is now opening orders | thepack.news | THE PACK

July 29, 2023

2024 Yamaha Ténéré 700 First Look [6 Fast Facts For ADV Riding]

July 29, 2023
Our Picks

The Doctor Behind the ‘Suicide Pod’ Wants AI to Assist at the End of Life

President Trump’s War on ‘Information Silos’ Is Bad News for Your Personal Data

18 Best Fourth of July Mattress Deals (2024)

Subscribe to Updates

Get the latest news from CycleNews about two, three wheelers and Electric vehicles.

© 2025 cyclenews.blog
  • Home
  • About us
  • Get In Touch
  • Shop
  • Listings
  • My Account
  • Submit Your Ad
  • Terms & Conditions
  • Stock Ticker

Type above and press Enter to search. Press Esc to cancel.