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Arcimoto and JOCO Announce Manhattan Pilot Program for Last Mile Delivery Drivers

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Arcimoto
Arcimoto

Arcimoto JOCO

Arcimoto and JOCO Announce Manhattan Pilot Program for Last Mile Delivery Drivers
Arcimoto and JOCO Announce Manhattan Pilot Program for Last Mile Delivery Drivers

EUGENE, Ore., May 16, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, outrageously fun, ultra-efficient electric vehicles for moving people and stuff, and JOCO, the world’s first Light Electric Vehicle sharing platform for delivery drivers, are teaming up on a pilot program to field test the Deliverator, Arcimoto’s ultra-efficient, three-wheel electric vehicle designed for local and last-mile delivery. The pilot program is anticipated to begin in Manhattan on June 15.

With more than 50 JOCO Hubs and across New York City, Chicago and Boston, JOCO operates a fleet of two thousand e-bikes for delivery gig drivers. During the pilot program, JOCO will market the Arcimoto Deliverator to local businesses and independent delivery drivers as a new sustainable delivery option available for daily and weekly rentals, offering greater range, convenience, safety and payload versus a traditional e-bike.

“We see this as a great opportunity to offer the latest electric vehicle technology to the business owners and drivers of New York City,” said Jonathan Cohen, co-founder of JOCO. “The Deliverator will offer independent contractors and delivery companies more ways to make money by helping them travel longer distances and carry more in an eco-friendly and cost efficient manner.”

“We’re thrilled to partner with JOCO to bring the first Arcimoto Deliverators to New York,” said Mark Frohnmayer, CEO and Founder of Arcimoto. “We believe that with every delivery, JOCO users will enjoy meaningful per-mile savings compared to gas-powered vehicles, rockstar parking and service, and a boost in brand awareness as the zero-emission Deliverator turns heads across Manhattan.”

Built on the modular Arcimoto Platform, the Deliverator features a top speed of 75 mph, 102 city mile range, 20+ cubic feet of cargo space, and a right-sized footprint that allows three vehicles to be parked in a single space.

Arcimoto vehicles are currently available in Arizona, California, Florida, Nevada, Oregon, and Washington. As soon as customer sales are ready to begin in New York, Arcimoto will reach out to preorder customers there to complete their vehicle reservations. You can place a $100 refundable preorder at Arcimoto.com/order.

For the latest stakeholder update, check out our RAMP IT UP presentation. Follow Arcimoto on YouTube, Facebook, Instagram, Twitter, TikTok, and LinkedIn. Investor information about the company, including press releases, stakeholder webcast replays, and more can be found at http://arcimoto.com/ir.

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, local delivery, and emergency response, 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.

About JOCO
JOCO Powers Delivery in Urban Environments, providing full servicing packages for dedicated delivery fleets with a broad range of light electric vehicles to choose from, including e-bikes, trikes, e-mopeds, trailers, and more. Our premium delivery vehicles are built to last and we remove all the hassle of owning, storing, charging, locking, and maintenance so delivery drivers can focus on deliveries.

With carbon emissions at an all time high, we’re on a pursuit to bring cleaner air to the world. Deliver with JOCO today, and help make the world a better place. For more information, visit RideJOCO.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:
Megan Kathman
(651) 785-3212
pr@arcimoto.com

Investor Relations Contact:
investor@arcimoto.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/53404284-648e-4544-b80d-aeaeea35a8f4


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