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Arcimoto Makes Arizona the 6th State in its Expansion

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By Sam Boughedda

Investing.com — Electric vehicle firm Arcimoto Inc (NASDAQ:FUV) announced Wednesday that it is now accepting vehicle reservations from customers in Arizona, making it the sixth state in its expansion plan.

"From Scottsdale to Sedona and the Grand Canyon to Havasu Falls, Arizona is an ideal market for both everyday drivers and tourist rentals," said Arcimoto founder and CEO Mark Frohnmayer.

The company said it has begun reaching out to Arizona preorder customers and expects the first Arizona vehicle deliveries in Q1 2022.

Residents of Nevada, Florida, Arizona, California, Oregon, and Washington are currently able to make Arcimoto vehicle reservations. The company will allow customers outside of these states to place a $100 refundable preorder.

At the start of Wednesday's session, the company's shares reacted to the news by climbing to $11.50. However, they quickly turned around and are now down 0.82% on the day at $10.91 as we head into the close.

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