All-New Electric Utility Vehicle Provides Optimal Performance for Industrial, Commercial and Ground-Support Applications

• 102 miles city range and top speed of 75 mph, small footprint vehicle traverses highways, narrow city streets and parking spots, to efficiently deliver cargo
• Customizable design with versatile bed configurations for various industries and applications
• Manufactured at the company's 250,000-square-foot U.S. manufacturing facility located in Eugene, Oregon where the company is proudly headquartered
  

EUGENE, Ore., May 30, 2023 (GLOBE NEWSWIRE) -- Arcimoto, Inc. (NASDAQ: FUV), makers of purpose-built electric utility and consumer vehicles, today announced the availability of a new model offering, the Arcimoto MUV (Modular Utility Vehicle). This marks the first on-road modular utility vehicle in the company's lineup of small footprint electric vehicles for dedicated professional and commercial use. The Arcimoto MUV, built on the company's flagship FUV platform, is a workhorse for daily indoor and outdoor use for industrial mobility customers who need to move goods, materials, supplies and equipment reliably, quietly and sustainably.

"The utility vehicle market represents a tremendous opportunity for Arcimoto and our new MUV underscores the company's growth in the urban and industrial mobility segment," said Chris Dawson, Chief Executive Officer, Arcimoto. "Our customers are seeking highly versatile electric vehicles that are quiet, packed with performance and are reliable for their daily round-the-clock needs and we are delivering that today to customers who require sustainable and cost-effective utility vehicles to get the job done right. They also value the optionality to make the vehicles their own, depending on their needs, with interchangeable options and add-ons."

Versatility to Go Anywhere, For Anyone
The Arcimoto MUV is nimble by design and has the versatility to go anywhere – indoors, outdoors, city streets, vineyards, warehouses, e-commerce fulfillment centers, with functional and flexible solutions for several industries including:

• Government and Municipalities
• Homebuilders and HOAs, including Business and Residential Properties
• Manufacturing and Warehousing
• Colleges and Universities
• Agriculture and Landscape
• Construction
• Aviation
• Delivery

The Power and Speed to Do It All
With a top speed of up to 75 mph, the MUV has a payload of 500 pounds, yet is small and narrow enough for the tightest of work environments. Its dual-motor front-wheel drive with a single seat, provides optimal utility range up to 102 city miles, fast and easy charging with level 1 and level 2 charging capabilities.

Customizable By Design
The MUV offers interchangeable bed configurations to support medium to light-duty load capacities and can also be equipped with customer-owned items or an ever growing list of MUV accessories for a number of applications.

The rear cargo configurations include Carrier Package (open flat bed), Utility Package (traditional pick up bed), and Cargo Package (enclosed box) that allows for secure storage and maximum carrying capacity for various commercial transportation uses.

Popular accessories include: Basic or custom vinyl wraps for brand exposure, seatback organizer, "West Coast" half-doors, seat options and more.

Pricing, Availability + To Build Your Own
The Arcimoto MUV is available for purchase today starting at a MSRP of $23,500 for the base Carrier Package. The vehicle can be equipped with the Utility Package at $299 or the Cargo Package add-on for $1,500 or both for full flexibility.

To learn more and to customize and build your MUV to meet the requirements necessary for your application please visit .

About Arcimoto, Inc.
Arcimoto is a pioneer in the design and manufacture of rightsized, ultra-efficient, incredibly fun electric vehicles for everyday mobility. Built on the revolutionary three-wheel Arcimoto Platform, our vehicles are purpose-built for daily driving and local delivery, all at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Based in Eugene, Oregon, the Arcimoto team is dedicated to creating world-class EVs that make the world a better place. For more information, please visit 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 and include, without limitation, our expectations as to vehicle deliveries, the establishment of our service and delivery network and our expected rate of production. 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 manage the distribution channels for our products, including our ability to successfully implement our rental strategy, direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models within projected timeframes given that a vehicle consists of several thousand unique items and we can only go as fast as the slowest item; our inexperience to date in manufacturing vehicles at the high volumes that we anticipate; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; the number of reservations and cancellations for our vehicles and our ability to deliver on those reservations; unforeseen or recurring operational problems at our facility, or a catastrophic loss of our manufacturing facility; our dependence on our suppliers; changes in consumer demand for, and acceptance of, our products: 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; changes in laws or regulations governing our business and operations; costs and risks associated with potential litigation; and other risks described from time to time in periodic and current reports that we file with the SEC. 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.

Public Relations Contact:
Allie Potter
allie@skyya.com
Skyya PR for Arcimoto

Investor Relations Contact:
investor@arcimoto.com

A photo accompanying this announcement is available at