Arcimoto Appoints Jesse Fittipaldi as Interim Chief Executive Officer
12 Agosto 2022 - 10:00AM
Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously
fun, ultra-efficient electric vehicles for moving people and stuff,
today announced that Jesse Fittipaldi has been appointed to the
role of Interim CEO. Fittipaldi joined Arcimoto in 2015 as the
company's Business Development Lead. From 2017 to 2020, Fittipaldi
was Vice President of the Company and had been serving as Chief
Strategy Officer since 2020.
“It’s an honor to lead this amazing organization, and I believe
Arcimoto has the team in place to effectively lead the way in the
manufacturing of rightsized EVs,” said Fittipaldi. “We endeavor to
continue the vision set forth by our founder Mark Frohnmayer, who
built Arcimoto from the ground up, starting with a napkin sketch
and a dream to build the right tool for the job of daily driving. I
will do my best to enable the entire team to fulfill its desire to
make a difference in the world.”
Founder Mark Frohnmayer has been named Chief Vision Officer.
Frohnmayer founded Arcimoto in 2007 and oversaw Arcimoto’s growth
from a boutique R&D studio to a leading three-wheel electric
vehicle manufacturer. As Chief Vision Officer, Frohnmayer will
focus on long-term strategic initiatives and key technology
development programs for the future of sustainable mobility. He
will continue in his role of Chairman of the Board.
“The top-notch management team Arcimoto has assembled, including
seasoned veterans we have cultivated within for many years, as well
as the serious rockstar talent we’ve recently brought on board, has
allowed me to focus directly on what I do best: articulating the
long-term vision of the company through key partnerships and future
product and technology initiatives,” said Frohnmayer. “I couldn’t
be more thrilled that Jesse Fittipaldi, who has been helping me
build the company hand-in-hand these last seven years, from a team
of five to more than 300, is now stepping up to take on the daily
leadership of Arcimoto’s plan to bring clean mobility solutions to
the world.”
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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 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/ef141ae5-a067-41ba-b0ed-41da050719e8
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