Arcimoto delivers 89 customer vehicles in Q4

Arcimoto delivered 89 customer vehicles in Q4 2022. This represents a 20 percent increase over the 73 customer vehicles delivered in Q3 2022. For the year, Arcimoto delivered 228 customer vehicles, which increased the total number of Arcimoto vehicles on the road to more than 500. This comes despite ongoing supply chain issues and funding concerns, which Arcimoto partly addressed with the closing of a $12 million public offering on Jan. 20. Arcimoto also introduced the FUV to a record-high number of new drivers with more than 5,000 demo rides over the course of 2022 through a combination of industry events, private demo drives, and customer rentals. "2022 gives confidence to the Team that with our learned sales KPIs, we can better understand how to appropriately scale marketing and production efforts to achieve profitability," said Jesse Fittipaldi, Arcimoto Interim CEO. "The fresh financial raise and the proven reasonable marketing effort to sell our product gives the team the fortitude to step into 2023 with practical confidence. We will increase our efforts to build the sales backlog and cost down our products knowing the plan is capital efficient and success is plausible."