Arcimoto intends to become the second pure play electric car company to make a NASDAQ public offering – the first being Tesla(NASDAQ:TSLA), of course.
- A range of 130 miles
- 230 mpg(e)
- Acceleration to 60 mph in 7.5 seconds.
Arcimoto has also come up with a new label for their car: Fun Utility Vehicle – or “FUV.” They will be selling it directly to the customer, initially on the west coast. The car is available in two models: open-air and fully enclosed, for greater protection against the elements.
Arcimoto is based in Eugene, Oregon, and has a unique and highly efficient manufacturing and development process. They are now producing their first units by hand after raising a total of $10 million prior to this Reg A+ offering. My sense is that Arcimoto has established a modern-era high water mark of capital efficiency by developing their new car with so little invested capital.
The investment research firm Zacks projects they will achieve modest scale production in 2018 and 10,000 per annum scale in 2019.
CEO Mark Frohnmeyer says, “Cutting my teeth in the games business taught me a ton about keeping it simple: Find the core appeal that yields a truly fun experience, and then build just enough of a product around it to meet the needs of the audience. Adding more stuff doesn’t always make for a better experience, and it always carries a cost multiplier in terms of development time, testing, tooling, and production.”
The combination of fun driving dynamics, easy parking, and 226 miles per gallon fuel economy, with a 130-mile range and a starting price of $12,000 – all these make the Arcimoto two-seater an intriguing purchase. At a time when many car owners are considering a transition to owning fewer vehicles, I can see…