EUGENE, Ore., April 19, 2022 (GLOBE NEWSWIRE) — Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, today announced that drivers of Arcimoto Fun Utility Vehicles in Alabama will no longer need to have a motorcycle endorsement or wear a helmet under legislation signed by Governor Kay Ivey. The bill, HB 37, sponsored by Representative Charlotte Meadows, brings Alabama in line with other states that do not require a motorcycle license or helmet to operate an autocycle such as those built by Arcimoto.
“From time to time we find statutes and regulations that need to be changed because they are no longer appropriate for new, innovative products,” said Representative Meadows. “With the necessary changes provided in HB 37, I am happy to welcome another new company to Alabama!”
“We’d like to personally thank Representative Meadows and Governor Ivey for moving this legislation forward and giving drivers in Alabama access to clean, sustainable transportation options,” said Mark Frohnmayer, CEO and Founder of Arcimoto. “We can’t wait for locals and tourists alike to explore the great state of Alabama in a pure-electric FUV.”
Arcimoto vehicles are currently available in Arizona, California, Florida, Nevada, Oregon, and Washington. As soon as sales are ready to begin in Alabama, Arcimoto will reach out to preorder customers there to complete their vehicle reservations. You can save your spot in line by placing a $100 refundable preorder at Arcimoto.com/order.
For the latest company update, check out our Full Year 2021 Stakeholder Webinar. Follow Arcimoto on YouTube, Facebook, Instagram, Twitter, TikTok, and LinkedIn. Investor information about the company, including press releases, stakeholder webcast replays, and more can be found at http://arcimoto.com/ir.
About Arcimoto, Inc.
Arcimoto is a pioneer in the design and manufacture of rightsized, ultra-efficient, incredibly fun electric vehicles for everyday mobility. Built on the revolutionary three-wheel Arcimoto Platform, our vehicles are purpose-built for daily driving, local delivery, and emergency response, all at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Based in Eugene, Oregon, the Arcimoto team is dedicated to creating world-class EVs that make the world a better place. 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.
Public Relations Contact:
Investor Relations Contact:
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a86d8131-e141-4d3e-9225-89316b0a9235