You can have electrifying fun on three wheels from $19,900.
Oct 01, 2019 at 8:23am ET
Arcimoto, after years of development and refining its concept of an all-electric three-wheeler, in September officially launched retail production and deliveries of the Arcimoto FUV (Fun Utility Vehicle).
The Arcimoto FUV in the first Evergreen Edition starts at MSRP of $19,900. Initially, sales are underway in California, Oregon and Washington.
According to Arcimoto, the range of FUV can be up to 102 miles (164 km) under the EPA City Cycle Driving Schedule, which should be enough for daily commuting.
“Built in the Pacific Northwest with state-of-the-art equipment at the Arcimoto Manufacturing Plant (AMP), the FUV has a top speed of 75 mph, an EPA-rated city-driving range of 102.5 miles per charge*, 173.7 MPGe city driving fuel economy, and comes pre-loaded with heated seats, heated grips, Bluetooth speakers, removable half doors, lockable rear storage, HOV Lane access, and a Level 1 charging cable. Customers will have their choice of base and accent colors. Rockstar parking comes standard.
With an MSRP of $19,900 before gas savings, available tax credits, and rebates, the world’s first premium FUV, the Evergreen Edition is the most affordable, most efficient electric vehicle suitable for the wide range of everyday trips on the road today. Depending on location, FUV owners may also qualify for sales tax exemptions, utility rate discounts, free parking, toll discounts, insurance discounts, and other benefits.
*Range estimates provided following SAE J2982 Range Test Procedure and are based on expected performance of a fully-charged battery when operated under specified conditions. Actual range will vary depending on driving style, weather, and equipment conditions.”
The company says that the number of pre-orders for FUV increased from 3,217 as of the end of 2018 to 4,128 as of June 30, 2019.
Assuming that all the pre-orders will turn into orders, at an average of about $17,000, there is some $70 million in revenues on the table. At least this is the official forecast:
Next year, the FUV will be joined by two special fleet versions:
- Deliverator, built for local and last-mile delivery
- Rapid Responder, designed for emergency medical services and campus security.
Before that happens, Arcimoto needs to sort out its financial results, as the net loss was $3.1 million in Q1 2019 and $3.9 million in Q2 2019:
“Second Quarter 2019 Financial Results
Total revenues in the second quarter of 2019 were $8,454 as compared to $85,332 in the second quarter of 2018. Sources of revenue in the second quarter of 2019 were merchandise sales and metal fabrication revenue.
The Company incurred an operating loss of $3.7 million in the second quarter of 2019, compared to $2.2 million in the second quarter of 2018. The Company incurred a net loss of $3.9 million, or ($0.23) per share in the second quarter of 2019, compared to a net loss of $2.2 million, or ($0.14) per share, in the second quarter of 2018.
The Company had $1.2 million in cash and cash equivalents as of June 30, 2019, compared to $4.9 million cash and cash equivalents as of March 31, 2019 and December 31, 2018.”
Making the company profitable will be probably the hardest part.
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 around 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.
Videos:
Arcimoto Begins Retail Production and Delivery of Ultra-Efficient, Pure-Electric Fun Utility Vehicles Today, Arcimoto will host a launch event in Eugene, Oregon at 5:30 p.m. PDT Arcimoto’s Fun Utility Vehicle ushers in a new era of ultra-efficient electric transportation, providing 173.7 MPGe city driving fuel economy In a historic company milestone, fulfillment of customer sales for the pure-electric FUV are now underway in California, Oregon and Washington World’s first premium FUV, the Evergreen Edition, has an affordable MSRP of $19,900 before gas savings, available tax credits, and rebates Company reported a backlog of more than 4,000 preordered FUVs EUGENE, Ore.–(BUSINESS WIRE)–Arcimoto, Inc.® (NASDAQ: FUV) announced today that it has begun retail production of the Fun Utility Vehicle (FUV), an affordable, practical, and joyful pure-electric vehicle for everyday commuters and fleets, and is now delivering to customers in California, Oregon and Washington. “The FUV represents a significant step toward a sustainable transportation future in which vehicles are fully electric and right-sized for the needs of everyday drivers,” said Mark Frohnmayer, Arcimoto Founder and President. “This is a truly significant moment for Arcimoto as we launch retail production and delivery of the Fun Utility Vehicle for the first time in the company’s history.” Built in the Pacific Northwest with state-of-the-art equipment at the Arcimoto Manufacturing Plant (AMP), the FUV has a top speed of 75 mph, an EPA-rated city-driving range of 102.5 miles per charge*, 173.7 MPGe city driving fuel economy, and comes pre-loaded with heated seats, heated grips, Bluetooth speakers, removable half doors, lockable rear storage, HOV Lane access, and a Level 1 charging cable. Customers will have their choice of base and accent colors. Rockstar parking comes standard. With an MSRP of $19,900 before gas savings, available tax credits, and rebates, the world’s first premium FUV, the Evergreen Edition is the most affordable, most efficient electric vehicle suitable for the wide range of everyday trips on the road today. Depending on location, FUV owners may also qualify for sales tax exemptions, utility rate discounts, free parking, toll discounts, insurance discounts, and other benefits. The FUV is the first in a family of electric vehicles built on the Arcimoto Platform, which includes the Deliverator, built for local and last-mile delivery, and the Rapid Responder, designed for emergency medical services and campus security. The Company has reported a backlog of 4,128 preordered FUVs as of June 30, 2019, which is 28% greater than their 3,217 preorders at December 31, 2018. Today, Arcimoto will host a launch event at the AMP in Eugene, Oregon at 5:30 p.m. PDT. For more information, visit Arcimoto.com/91919. *Range estimates provided following SAE J2982 Range Test Procedure and are based on expected performance of a fully-charged battery when operated under specified conditions. Actual range will vary depending on driving style, weather, and equipment conditions.
