Market Overview

Arcimoto Announces Grand Opening of First Ever Rental Location

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The FUV Hub will serve as a showroom, service, and rental center for
Fun Utility Vehicles in the historic Whiteaker neighborhood of Eugene,
Oregon

Arcimoto, Inc.® (NASDAQ:FUV) — makers of the Fun Utility
Vehicle® (FUV) — an affordable, joyful, pure electric vehicle
for everyday drivers and fleets, announced today that the grand opening
of Arcimoto's first ever customer experience and rental location, will
take place on Saturday, October 27.

The facility, located at 543 Blair Boulevard in the historic Whiteaker
neighborhood, will serve as showroom, service center, and a rental
center for FUVs in Arcimoto's hometown of Eugene.

"The opening of our first rental experience center is a significant
milestone for Arcimoto," said Mark Frohnmayer, Arcimoto President and
Founder. "Providing an efficient and friendly means for people to try
out new products is a key challenge for every next-generation vehicle
developer. We believe our FUV hubs will afford prospective Arcimoto
customers the opportunity to experience the joy of this entirely new
kind of vehicle, without the pressures typical of the traditional sales
process. We plan to let customers rent by the hour, half day, or full
day, to experience an Arcimoto as if it were their own. We believe this
will be a real advantage for our existing preorder customers and folks
new to the brand alike."

Arcimoto has accumulated 3,102 preorder deposits for its retail series
Fun Utility Vehicle, representing approximately $46.5M in anticipated
revenue.

Frohnmayer continued, "The Eugene location has special significance to
Arcimoto, as it is sited immediately across the street from the boutique
design studio where we began developing the FUV more than a decade ago.
Eleven years, eight design generations, and a new factory later, we are
proud to finally share the FUV with our friends, family, and the
community of Eugene who have indelibly shaped this venture and product."

About Arcimoto, Inc.

Headquartered and manufactured in Eugene, Oregon, Arcimoto, Inc.
(NASDAQ:FUV) is devising new technologies and patterns of mobility that
together raise the bar for environmental efficiency, footprint and
affordability. Available for pre-order today, Arcimoto's Fun Utility
Vehicle is one of the lightest, most affordable, and most appropriate
electric vehicles suitable for the daily driver. For more information
please visit www.arcimoto.com.

Safe Harbor / Forward-Looking Statements

Except 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. 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
effectively execute on our developing growth strategy; our ability to
design, manufacture and market vehicle models cost effectively and
within projected timeframes; the number of reservations and
cancellations for our vehicles and the ability to deliver on those
reservations; our ability to manage the distribution channels for our
products, including our ability to successfully implement our direct to
consumer distribution strategy and any additional distribution
strategies we may deem appropriate; changes in consumer demand for, and
acceptance of, our products; our reliance on key personnel; 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; fluctuations in our financial results; and changes in
laws or regulations governing our business and operations. 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.

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