Arcimoto Appoints Jesse Fittipaldi as Interim Chief

EUGENE, Ore., Aug. 12, 2022 (GLOBE NEWSWIRE) — Arcimoto, Inc.^® (NASDAQ: FUV), makers of rightsized, outrageously enjoyable, ultra-efficient electrical autos for shifting folks and stuff, at present introduced that Jesse Fittipaldi has been appointed to the position of Interim CEO. Fittipaldi joined Arcimoto in 2015 as the corporate’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,” stated 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 based Arcimoto in 2007 and oversaw Arcimoto’s progress from a boutique R&D studio to a number one three-wheel electrical automobile producer. As Chief Vision Officer, Frohnmayer will concentrate on long-term strategic initiatives and key know-how growth applications for the way forward for sustainable mobility. He will proceed in his position 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,” stated 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 within the design and manufacture of rightsized, ultra-efficient, extremely enjoyable electrical autos for on a regular basis mobility. Built on the revolutionary three-wheel Arcimoto Platform, our autos are purpose-built for day by day driving, native supply, and emergency response, all at a fraction of the associated fee and environmental impression of conventional gas-powered autos. Based in Eugene, Oregon, the Arcimoto group is devoted to creating world-class EVs that make the world a greater place. For extra data, please go to Arcimoto.com.

Safe Harbor / Forward-Looking Statements
Except for historic data, all the statements, expectations, and assumptions contained on this press launch are forward-looking statements. Forward-looking statements embrace, however are usually not restricted to, statements that specific our intentions, beliefs, expectations, methods, predictions or another statements regarding our future actions or different future occasions or circumstances. These statements are primarily based on present expectations, estimates and projections about our business primarily based, partially, on assumptions made by administration. These statements are usually not ensures of future efficiency and contain dangers, uncertainties and assumptions which might be troublesome to foretell and embrace, with out limitation, our expectations as to automobile deliveries, the institution of our service and supply community and our anticipated price of manufacturing. Therefore, precise outcomes and outcomes might, and are prone to, differ materially from what’s expressed or forecasted within the forward-looking statements attributable to quite a few components mentioned every now and then in paperwork which we file with the SEC. In addition, such statements may very well be affected by dangers and uncertainties associated to, amongst different issues: our means to handle the distribution channels for our merchandise, together with our means to efficiently implement our rental technique, direct to shopper distribution technique and any extra distribution methods we might deem applicable; our means to design, manufacture and market automobile fashions inside projected timeframes given {that a} automobile consists of a number of thousand distinctive gadgets and we are able to solely go as quick as the slowest merchandise; our inexperience up to now in manufacturing autos on the excessive volumes that we anticipate; our means to take care of high quality management over our autos and keep away from materials automobile remembers; the variety of reservations and cancellations for our autos and our means to ship on these reservations; unexpected or recurring operational issues at our facility, or a catastrophic lack of our manufacturing facility; our dependence on our suppliers; adjustments in shopper demand for, and acceptance of, our merchandise: adjustments within the aggressive setting, together with adoption of applied sciences and merchandise that compete with our merchandise; the general power and stability of common financial circumstances and of the automotive trade extra particularly; adjustments in legal guidelines or rules governing our business and operations; prices and dangers related to potential litigation; and different dangers described every now and then in periodic and present experiences that we file with the SEC. Any forward-looking statements converse solely as of the date on which they’re made, and besides as could also be required beneath relevant securities legal guidelines, we don’t undertake any obligation to replace any forward-looking statements.

Public Relations Contact:
Megan Kathman
(651) 785-3212
[email protected]

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