FUV Arcimoto Inc

Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, and Susie’s Mopeds, the leading experience rental company in Friday Harbor, WA, announced today that they will begin demo rentals of Arcimoto Fun Utility Vehicles on San Juan Island beginning in March.

“We are proud that our first demo rental partner in Washington is Susie’s Mopeds on San Juan Island, a true jewel of the Pacific Northwest. We believe there is no better way to take in the epic 48-mile San Juan Island loop than by riding an ultra-efficient, pure-electric Arcimoto,” said Mark Frohnmayer, Arcimoto Founder and CEO. “This collaboration is another strong step forward for our destination rental strategy, as we aim to drive both revenue-per-vehicle-built and brand awareness, and give destination visitors an unforgettable, sustainable experience.”

Arcimoto aims to redefine the vehicle business model for first time customer experience. As Frohnmayer outlined in Arcimoto’s RAMP IT UP! event last week, “Arcimoto is hitting full throttle on our demo rental program in order to maximize the number of people who get to enjoy our unique ride and drive exposure for the Arcimoto brand in the most capital efficient manner we can.”

“Just in time for the tourist season, we’re proud to offer our customers an epic, all-electric ride unlike anything else,” said Greg Lewis, Owner of Susie’s Mopeds. “On San Juan Island, we pride ourselves on sustainability and leaving no trace, and we’re proud that the only trace the zero-emission FUV will leave behind will be the smiles on the faces of our customers after they complete the iconic San Juan Loop.”

Susie’s Mopeds is the eighth Arcimoto rental location, with rentals also available in San Francisco, San Diego, Santa Monica, Key West, Marco Island, Florida, Fort Lauderdale, Florida, and Eugene, Oregon. For more information, visit Arcimoto.com/rental and Susiesmopeds.com.

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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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9470ef19-d590-4b94-9c20-018511cbae05