FUV Arcimoto Inc

Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, today cut the ribbon on the RAMP, a facility encompassing approximately 250,000 square feet under roof on more than 10 acres in Eugene, Oregon. More than five times as large as Arcimoto’s current manufacturing facilities, the RAMP will be instrumental in achieving mass production of Arcimoto’s ultra-efficient electric vehicles.

“We are driven to address the most pressing challenge facing all life on this pale blue dot we call home, and that extreme urgency impels the rapidly accelerating pace of innovation on full display today,” said Mark Frohnmayer, Arcimoto Founder and CEO. “That includes this new factory, as well as the introduction of leading core EV technology developments, product family enhancements, and the mandate to deliver true micro-mobility sustainable solutions to the world. Once at full capacity, the RAMP is expected to be capable of producing 50,000 vehicles per year, and further, provide a replicable template for global expansion.”

All vehicles built on the Arcimoto Platform, including the FUV, Deliverator, Roadster, Flatbed, and Rapid Responder, will be built on the same production line, which will yield a meaningful improvement in build throughput, the key goal of Phase 1 of the RAMP Expansion. Looking forward to Phase 2, Arcimoto intends to develop a new onsite logistics hub, construct the automated assembly line currently in development with Munro and Associates, and tool-up of key parts of the chassis and body that will enable maximum unit throughput in 2025, which will include working on the production of a robo-valet mass market commuter vehicle designed to be the most efficient driverless EV on the road.

“Today’s opening of Arcimoto’s new RAMP mass production facility heralds a new era in defossilized transportation right here in Eugene,” said Congressman Peter Defazio. “While the recently passed Bipartisan Infrastructure Law will provide the first major investment in a national EV charging network to reduce carbon pollution in the transportation sector, Arcimoto’s mass-produced FUVs can help reduce individual carbon footprints right here, right now. Tackling the climate crisis will involve many different strategies. Arcimoto vehicles just happen to be the most fun.”

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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. 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.

Safe Harbor / Forward-Looking StatementsExcept 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) 785-3212pr@arcimoto.com

Investor Relations Contact:investor@arcimoto.com

Arcimoto Fleet SalesSam Fittipaldisamf@arcimoto.com

A photo accompanying this announcement is available at:https://prdesk.globenewswire.com/ResourceLibrary/ResourceLibrary/GetDynamicThumbnailContentContent/?resourceId=5b9cbbe9-a29d-478c-b5a7-954b063d24d7&maxHeight=280&maxWidth=280