Arcimoto, Inc. (NASDAQ: FUV)

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Arcimoto Begins Renting Pure Electric Deliverator in Los Angeles Using HyreCar

Carsharing platform provides a turnkey solution for fleet operators, gig drivers, and small businesses seeking environmentally sustainable local delivery

 

Eugene, OR – June 22, 2020 – Arcimoto, Inc.® (NASDAQ: FUV) and HyreCar (HYRE), the carsharing marketplace for ridesharing and delivery, today announced that the Deliverator, Arcimoto’s ultra-efficient, three-wheel electric vehicle designed for local and last-mile delivery, will be available to rent using the HyreCar platform beginning this summer in Los Angeles.

 

“Last month, roughly one-third of Americans ordered groceries online for the first time, and the need for both gig drivers and sustainable delivery vehicles is at an all-time high,” said Joe Furnari, HyreCar Chief Executive Officer. “We’re happy to work with Arcimoto to begin providing access to Deliverator on our platform. This will give the growing number of delivery gig drivers access to the lowest per-mile-cost-to-operate delivery vehicle on the road, and it will enable fleet operators tied to the retail industry and small business owners the ability to leverage the Deliverator to profit from Mobility as a Service while reducing their carbon footprint.”

 

Hyrecar is using this opportunity to provide alternative vehicle solutions on its platform for last-mile food and package delivery in heavily populated areas that can benefit from this environmentally sensitive smaller footprint vehicle.

 

“We are thrilled to work together with HyreCar to bring the Deliverator to gig drivers for sustainable home delivery,” said Mark Frohnmayer, President and Founder of Arcimoto. “The HyreCar platform creates a win-win for vehicle owners and working drivers to monetize vehicles that would otherwise sit parked 90 percent of the day. We see this as an incredible opportunity for gig drivers looking to save on operating costs, for small businesses who wish to rent out their vehicles when not in use, and for entrepreneurs looking to build all-electric delivery fleets of their own.”

 

Built on the modular Arcimoto Platform, the Deliverator features a top speed of 75 mph, 102 city mile range, 20+ cubic feet of cargo space, and its right-sized footprint allows three vehicles to be parked in a single space.

 

To pre-order the Deliverator, please visit https://www.Arcimoto.com/deliverator. For fleet inquiries, please email fleet@arcimoto.com.

 

About HyreCar

HyreCar Inc. (HYRE) is a nationwide leader operating a carsharing marketplace for ridesharing in all 50 states via its proprietary technology platform. The Company has established a leading presence in Mobility as a Service (MaaS) through individual vehicle owners, dealers and OEM’s, who have been disrupted by automotive asset sharing. By providing a unique opportunity through our safe, secure, and reliable marketplace, HyreCar is transforming the industry by empowering all to profit from MaaS. For more information please visit HyreCar.com.

 

About Arcimoto

Arcimoto (NASDAQ: FUV) is developing ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Now available to preorder customers on the West Coast, the Arcimoto FUV is purpose-built for the task of everyday driving and transforms the daily commute into a pure-electric joyride. Available for preorder, the Deliverator and Rapid Responder provide specialized delivery and emergency response services, respectively, at a fraction of the economic and ecological costs of traditional gas-powered vehicles. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.

 

Arcimoto Contact:
Megan Kathman
Skyya PR for Arcimoto
(651) 785-3212
megan@skyya.com

 

Hyrecar Contact:
John Evans
Investor Relations
415-309-0230
j.evans@HyreCar.com

 

Source: Arcimoto, Inc.

About Arcimoto


Arcimoto’s mission to help catalyze the shift to a sustainable transportation system is powered by our community of investors.

 

Since going public on Nasdaq in September 2017, we built out a state-of-the-art production facility in the Arcimoto Manufacturing Plant, completed regulatory compliance for the Fun Utility Vehicle, initiated production in September 2019, and are now delivering vehicles to our early customers. Pilot programs are underway with the Deliverator and the Rapid Responder, with production of those vehicles set to begin in late 2020.

 

Arcimoto reported Q1 2020 earnings and held an earnings webcast on June 11, 2020. As noted in the webcast, this update was essentially an addendum to our recently published Spring 2020 Company Update video, which you can view below. You can also view the Q1 2020 10-Q, or the full Q1 2020 earnings webcast below.

 

The Future Is Electric

 

Polluting vehicles will soon be a relic of the past, with drivers increasingly charging their electric vehicles using solar power and other renewable energy sources.

 

The Future Is Small

 

It no longer makes sense for one person to drive a seven-passenger SUV to work every day. In the future, we’ll drive small EVs built for one or two people to maximize efficiency.

 

 

The Future Is Shared

 

In the future, we’ll use ride-hailing peer-to-peer platforms to access fleets of small, shared vehicles whenever we need a lift. This will be more affordable for riders, reduce traffic and emissions, and free up parking space for communities. The result? More parks, less parking lots.

 

The Future Is Autonomous

 

More than a million lives are lost each year in traffic crashes and more than 90 percent of traffic crashes involve human error. In the future, Arcimoto vehicles will feature full self-driving and networked vehicle technology. As these are adopted globally, they will combine to eliminate traffic, increase productivity and leisure time, and save millions of lives. Just get in and go.

 

The Future Is Local

 

In the future, we plan to build Arcimoto Manufacturing Plants across the globe to produce low-cost Arcimoto vehicles for local markets. This will create new green tech jobs, boost the local economy, and eliminate the need for expensive and polluting global shipping practices.

 

In the future, we’re all in this together.

 

 

Every Mile Matters

 

Global warming from carbon emissions is the greatest threat this planet has ever faced. The only way to face it is to rethink everything. How we drive, how we eat, how we shop, how we live.

 

Our mission is to catalyze the shift to a sustainable transportation system. We believe that will only happen when we move away from oversized, overpriced, polluting vehicles to right-sized, ultra-efficient EVs we all can afford. We can’t afford not to.

 

This is our vision for the future of sustainable transportation. We hope you’ll join us for the ride.

 

Source:  https://www.arcimoto.com/

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