EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (NASDAQ: FUV), makers of the world’s first Fun Utility Vehicle™ (FUV) — an affordable and practical pure electric vehicle for everyday commuters and fleets, today announced an acceleration in its previously forecasted timeline for Phase 2 production of its electric vehicle line. The significantly improved timeline is due to the extraordinary success of Arcimoto’s Reg A+ IPO that enabled the early acquisition of critical manufacturing and fabrication equipment which will begin arriving at the Arcimoto Manufacturing Plant (AMP) in Eugene starting tomorrow.
The first machine to be delivered on Friday is the BLM LC5 Tube and Sheet Laser, a highly efficient, multi-function laser fabrication system that performs multiple operations (sawing, grinding, punching, drilling and machining) in a single production pass. The system, designed to cut both tube and sheet metal vehicle parts, is incredibly flexible, requires minimal specialized tooling, and its compact footprint is space-efficient in the plant. Arcimoto will also take early delivery next week of the E-Turn52 Tube Bender system, an all-electric right- and left-handed CNC tube-bending machine, and the Bystronic Xpert CNC press brake. With the further planned near-term acquisition of robot arms to facilitate precise material handling and welding, the Company plans to have tightly-automated frame and chassis manufacturing cells operating in early 2018.
“These highly-efficient, state-of-the-art production investments were originally outlined as a part of Phase 2 of our scaling plan, but we were able to significantly accelerate that timeline due to the strong success of our Reg A+ IPO, which raised nearly double our original capital goal,” said Mark Frohnmayer, President and Founder of Arcimoto. “These are all very capital-efficient investments for Arcimoto that offer near-term cost reduction in our frame and chassis parts, and position us well for achieving our aggressive price and volume targets for the FUV.”
“We are thrilled to support Arcimoto's mission to catalyze the shift to a sustainable transportation system and the production of their affordable, efficient and class-leading Fun Utility Vehicle platform,” said Andrew Dodd, North American Sales Director for the BLM Group. “The production speed of BLM’s LC5 Tube and Sheet Laser combined with the E-Turn52 Tube Bender will allow Arcimoto to scale to significant unit volume using the advanced, flexible manufacturing techniques they are pioneering for on-road vehicles. Further, our advanced rapid-turn prototyping software will allow Arcimoto to leverage the full benefit of their flexible platform architecture, moving from 3D CAD to finished work product with minimal steps.”
“The combination of BLM's tube and sheet laser, bender and advanced software systems will enable Arcimoto to rapidly start and scale production while achieving aggressive capital and per-unit cost goals,” said Terry Becker, Arcimoto Chief Operating Officer. “With this equipment, we believe we can scale production to more than 25,000 FUV chassis and frames annually. These tools also give us unprecedented flexibility in design and production, which will speed the development of specific task-oriented variants of the Arcimoto Platform Architecture.”
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 with a target purchase price of $11,900, Arcimoto’s FUV defines the Fun Utility Vehicle category: it’s the lightest, most affordable and performance-packed electric vehicle suitable for the daily driver. For more information please visit www.arcimoto.com