Arcimoto Enters Purchase Agreement to Expand Manufacturing Footprint by 185,000 Square Feet In Eugene, Oregon

January 6, 2021

Fivefold increase of manufacturing space expected to accelerate mass production of Company’s ultra-efficient EVs.

EUGENE, Ore.–(BUSINESS WIRE)–$FUV #FUV–Arcimoto, Inc.® (NASDAQ: FUV), makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, today announced that it has agreed to purchase a 185,000 square foot manufacturing site in Eugene, Oregon. More than five times as large as Arcimoto’s current manufacturing facilities, the new site will be instrumental in achieving mass production of Arcimoto’s ultra-efficient electric vehicles.

“In 2020 we articulated an aggressive goal to achieve mass production within two years,” said Arcimoto Founder and CEO, Mark Frohnmayer. “We believe the acquisition of this existing manufacturing facility is a critical leap toward our goal.”

“Purchasing an existing facility helps reduce risk during scale,” said Chief Strategy Officer Jesse Fittipaldi. “Instead of spending time designing and then building a new factory, we can start right away with facility retrofits and production line layout. We are thrilled that this site became available at an opportune moment in our planning process.”

The sale is contingent upon the Company’s complete and unconditional approval of the property and its physical condition, zoning and land use restrictions, and a Phase I environmental assessment. Closing is scheduled to occur on March 31, 2021.

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. Now available to preorder customers in California, Oregon, Washington, and Florida, the Arcimoto FUV® is purpose-built for everyday driving, transforming ordinary trips into pure-electric joyrides. Available for preorder, 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. Two additional concept prototypes built on the versatile Arcimoto platform are currently in development: the Cameo™, aimed at the film and influencer industry; and the Roadster, designed to be the ultimate on-road fun machine. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.

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