EUGENE, Ore., March 03, 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 New York will no longer need to have a motorcycle license under legislation signed by Governor Kathy Hochul. The bill, A7192A/S6335, sponsored by Assemblywoman Donna Lupardo and Senator Tim Kennedy, brings New York State in line with other states that do not require a motorcycle license to operate an autocycle such as those built by Arcimoto.
“Excelsior!” said Mark Frohnmayer, CEO and Founder, Arcimoto. “We applaud the great state of New York for passing this important legislation. New York continues to show leadership pushing for reforms to address the climate crisis we face, and allowing their constituents to more easily make sustainable transportation choices that don’t depend on imported fossil fuels. We commend Governor Kathy Hochul, State Senator Tim Kennedy, and Assemblymember Donna Lupardo for leading the charge on this pragmatic change.”
Assemblywoman Donna Lupardo said, “We have worked on this bill for a number of years in order to bring it across the finish line. This will open up the autocycle market to a much wider customer base. Seniors, in particular, wanted to have this option but questioned their ability to obtain a motorcycle license. Thank you to Senator Kennedy for his partnership and to Governor Hochul for her support.”
Senator Tim Kennedy, Chair of the Senate Transportation Committee said, “Through this legislation, we’re bringing New York State in line with many other states across the nation, while simultaneously strengthening accessibility for autocycle drivers and investing in sustainable models of transportation. I’m proud to champion this alongside Assemblymember Lupardo, and thank Governor Hochul for making this a priority and signing this bill into law.”
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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. Arcimoto vehicles are currently available for reservation in California, Oregon, Washington, Nevada, Arizona, and Florida, and for preorder worldwide. Our flagship vehicle, the Arcimoto FUV®, is purpose-built for everyday driving and transforms ordinary trips into pure-electric joyrides. Launched in 2021, the all-new Arcimoto Roadster is designed to be the ultimate open-road fun machine and is the purest expression of the Arcimoto Platform. 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. Expected to launch in 2022, the Flatbed represents Arcimoto’s vision of a pure-electric, rightsized utility pickup truck. The upcoming Cameo™ is designed to create a smooth, silent, sustainable camera vehicle for the film and influencer industries. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.
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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:
Megan Kathman
(651) 785-3212
pr@arcimoto.com
Investor Relations Contact:
investor@arcimoto.com
