Market Overview

Arcimoto Announces Second FUV Hub Rental Location To Open In San Diego

Share:

The new FUV Hub will serve as a showroom, service, and charging
center for Fun Utility Vehicles as well as electric scooters, bikes, and
cars in downtown San Diego.

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 it plans to open its second FUV Hub rental
location in downtown San Diego in the coming months.

The 4,500 square-foot facility, located at 630 Tenth Avenue and equipped
with 40 Level 2 chargers, will serve mainly as a showroom, rental
center, and a central charging station for electric bikes, scooters,
cars, as well as FUVs. Arcimoto plans to operate the FUV Hub jointly
with San Diego-based partner HULA Holdings.

"Even as a national leader in EV adoption, downtown San Diego still
faces challenges in reducing congestion, lowering transportation
emissions, and improving parking," said HULA Co-Founder Peder Norby,
former San Diego County planning commissioner. "We believe the FUV Hub
San Diego will allow us to attack these problems head on with a central
charging station for not only FUVs, but for all electric vehicles.
Simply drive in, plug in, and go play in beautiful coastal San Diego."

"The new FUV Hub San Diego is an excellent test case for Arcimoto and
our commitment to sustainable transportation in both urban and
destination markets," said Mark Frohnmayer, Arcimoto President and CEO.
"We believe that for working professionals and tourists visiting
downtown San Diego, the FUV Hub will provide access to clean EVs to rent
by the day or the hour, helping to eliminate the need for polluting
vehicles in the beating heart of America's Finest City."

HULA CEO Angus Clark added, "Making America's Finest City even greener
through the efficient use of FUVs should set a high aspirational bar for
other cities to emulate and duplicate. We are excited to be able to
bring this service to the downtown community and look forward to
offering our vision for a sustainable future in San Diego."

The Arcimoto FUV HUB San Diego is expected to open in the coming months,
and will be located at 630 Tenth Avenue, San Diego, CA, 92101.

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.

About HULA Holdings, Inc.

HULA Holdings, Inc. owns and operates DC Fast-Charging stations in
Southern California, located at leading hotel properties from Santa
Barbara to San Diego. Since 2011, HULA charging stations have provided
electric vehicle owners safe, convenient and affordable energy while
providing ample amenities at their host site locations. HULA is an
acronym for High Utilization Local Access and will also be testing
autonomous mobility vehicles in the near future. HULA's not-for-profit
subsidiary, Corridor Power, is building the country's first
full-service, multi-protocol, Electric Mobility Center in San Diego
(Encinitas), California with support from the California Energy
Commission and the Center for Sustainable Energy. For more information
please visit www.hihula.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
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; 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; 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.

View Comments and Join the Discussion!