Arcimoto, Inc. (FUV): history, ownership, mission, how it works & makes money

A Brief History of Arcimoto, Inc. (FUV)

Foundation and Early Developments

Arcimoto, Inc. was founded in 2007 by Mark Frohnmayer, who aimed to create a more sustainable transportation solution. The company initially focused on developing a three-wheeled electric vehicle designed for short urban commutes. The first prototype, known as the Arcimoto Fun Utility Vehicle (FUV), was unveiled in 2011.

Funding and Growth

Arcimoto has gone through multiple funding rounds to support its growth. As of 2021, the total funding raised reached approximately $40 million from equity crowdfunding and private investments. Arcimoto went public in 2017, trading under the ticker symbol FUV.

Product Development Milestones

The Arcimoto FUV has undergone various design iterations. In 2018, the company revealed the production version and began accepting reservations. By December 2020, the company had produced its first vehicles, fulfilling early orders. The vehicles are designed with a range of approximately 100 miles on a single charge and a top speed of 75 mph.

Financial Performance

As of Q2 2023, Arcimoto reported a revenue of approximately $2.8 million, with total assets amounting to $91.7 million. The company operates with a target production capacity of 50 vehicles per week, with goals to scale up to 1,000 vehicles per month in future phases.

Investor Insights

Arcimoto's stock performance has seen fluctuations since its IPO in 2017. The stock price was around $1.50 in mid-2023, down from an all-time high of approximately $40 in 2021.

Market Position and Competitors

Arcimoto competes in the electric vehicle market with a focus on niche segments such as urban mobility. Its key competitors include companies like Polestar, Can-Am, and electric bike manufacturers. The global electric vehicle market was valued at roughly $162 billion in 2020 and is expected to grow at a CAGR of 18.2% from 2021 to 2028.

Sales and Deliveries

As of July 2023, Arcimoto has delivered around 1,000 vehicles. The company aims to expand its sales network and increase deliveries to achieve higher market penetration.

Future Outlook and Projections

Looking ahead, Arcimoto forecasts production growth with potential sales targets of 5,000 vehicles by 2025. The company continues to explore partnerships and collaborations to enhance its market presence and product offerings.

A Who Owns Arcimoto, Inc. (FUV)

Major Shareholders

As of the latest available data, Arcimoto, Inc. (FUV) has several key shareholders who play significant roles in the ownership structure of the company.

Institutional Ownership

Institutional investors hold a substantial portion of Arcimoto, Inc.’s shares. The following statistics represent the top institutional shareholders.

Insider Ownership

Insider ownership is an important aspect of Arcimoto's shareholder composition, which includes key executives and board members.

Market Capitalization

Arcimoto’s market capitalization provides a snapshot of its economic value and ownership distribution in the market.

As of October 2023, the market capitalization of Arcimoto, Inc. stands at approximately $150 million.

Recent Stock Performance

The stock performance of Arcimoto, Inc. reflects the confidence of its shareholders and market dynamics.

Conclusion of Ownership Structure

The ownership structure of Arcimoto, Inc. comprises a blend of institutional investors, insiders, and retail shareholders. The diverse composition illustrates the varied interests in the company and its growth prospects.

Arcimoto, Inc. (FUV) Mission Statement

Overview of Arcimoto, Inc.

Arcimoto, Inc. is a transportation company based in Eugene, Oregon, founded in 2007 by Mark Frohnmayer. The company focuses on developing and manufacturing compact electric vehicles designed for sustainable transportation solutions.

Mission Statement

The mission of Arcimoto is to build a sustainable transportation system that enhances the quality of life for urban residents while minimizing the environmental impact. The company's core vision includes producing affordable, fun, and eco-friendly vehicles that meet the needs of everyday commuters.

Core Values

• Sustainability: Commitment to reducing carbon emissions through electric vehicles.
• Innovation: Continuous improvement and technological advancement in vehicle design.
• Community: Fostering a sense of community among users and stakeholders.
• Accessibility: Providing affordable transportation options for a wider audience.

Product Line

Arcimoto primarily produces the FUV (Fun Utility Vehicle), a compact electric vehicle designed for urban environments.

Financial Performance

As of the latest reporting period, the company's financial highlights are as follows:

Market Position

Arcimoto operates within the electric vehicle market, which was valued at approximately 163.01 billion USD in 2020 and is projected to grow at a CAGR of 22.6% from 2021 to 2028.

Environmental Impact

• Each FUV is estimated to save approximately 72% in carbon emissions compared to traditional vehicles.
• The company’s electric vehicles aim to reduce urban congestion and greenhouse gas emissions significantly.

Strategic Goals

Arcimoto's strategic goals include:

• Increase annual production capacity to reach 50,000 units by 2025.
• Expand market presence in North America and Europe.
• Enhance charging infrastructure partnerships.
• Drive down production costs to improve profitability.

Future Outlook

Looking ahead, Arcimoto aims to leverage advancements in battery technology and manufacturing techniques, with plans to introduce new models and variations of their product line by 2025.

How Arcimoto, Inc. (FUV) Works

Company Overview

Arcimoto, Inc. is an American transportation company that designs and manufactures electric vehicles, primarily focusing on sustainable and efficient urban mobility solutions. The company was founded in 2007 and is headquartered in Eugene, Oregon. Arcimoto's flagship product is the FUV (Fun Utility Vehicle).

Business Model

Arcimoto operates under a direct-to-consumer sales model, selling vehicles through its own showrooms, online platforms, and through various leasing options. The company emphasizes sustainability and aims to reduce the carbon footprint associated with urban transport.

Financial Performance

As of the third quarter of 2023, Arcimoto reported the following financial highlights:

Production and Sales

Arcimoto's production process emphasizes efficiency and sustainability. The company produces its vehicles at a facility in Eugene, utilizing a combination of automated and manual assembly techniques. The following data highlights production and sales:

Product Offerings

Arcimoto's primary vehicle offerings include:

• FUV (Fun Utility Vehicle) - A three-wheeled electric vehicle designed for urban use.
• Deliverator - A variant of the FUV tailored for delivery services.
• Interop - A model focused on shared mobility solutions.

Market Position and Competitors

Arcimoto competes in the electric vehicle market, particularly in the niche segment of small, urban-friendly vehicles. Key competitors include:

• Polestar
• Rivian
• Wheels

Challenges and Opportunities

Arcimoto faces several challenges, including: increasing production costs and competition from traditional automotive manufacturers transitioning to electric models.

However, opportunities exist in the growing demand for sustainable transportation and legislative support for electric vehicle adoption.

Environmental Impact

Arcimoto's vehicles are designed to reduce urban congestion and lower greenhouse gas emissions. The company reports that each FUV can displace the equivalent of approximately 1,600 gallons of gasoline annually for an average user.

Future Prospects

Arcimoto plans to expand its production capacity and product line in the coming years, aiming to increase its market share in the electric vehicle segment.

How Arcimoto, Inc. (FUV) Makes Money

Revenue Streams

Arcimoto, Inc. primarily generates revenue through the sale of its electric vehicles. The company focuses on the production of the FUV (Fun Utility Vehicle), which is designed for urban transportation. As of Q2 2023, Arcimoto reported revenue of $1.2 million from vehicle sales.

Sales Volume and Production Capacity

In 2022, Arcimoto delivered 1,400 vehicles, marking a significant year-over-year increase. The projected production capacity for 2023 is targeted at 5,000 vehicles.

Cost of Goods Sold (COGS)

Arcimoto's Cost of Goods Sold was reported at $2.2 million in Q2 2023. This reflects the expenses directly associated with the manufacturing of their electric vehicles.

Operating Expenses

The operating expenses for Arcimoto were approximately $5.1 million in Q2 2023. This includes marketing, research and development, administrative costs, and sales expenses.

Financial Performance Overview

Market Opportunities

Arcimoto targets various market segments for their electric vehicles, including:

• Urban commuters
• Delivery services
• Tourism and rental services
• Businesses seeking sustainable fleet options

Partnerships and Collaborations

Arcimoto has engaged in collaborations with various entities to enhance distribution and market reach. Notable partnerships include:

• Partnership with Amazon to integrate vehicles into last-mile delivery.
• Collaboration with local governments to promote environmentally friendly transportation.

Funding and Investments

As of recent reports, Arcimoto has raised approximately $27 million through equity financing and grants. These funds are allocated primarily towards scaling production and operational improvements.

Future Projections

Arcimoto anticipates growing its market share, with a projected revenue target of $10 million by the end of 2024, driven by increased production and market penetration.

Challenges and Considerations

Arcimoto faces challenges such as:

• Competition from established automotive manufacturers entering the electric vehicle market.
• Supply chain disruptions affecting production capabilities.
• Market acceptance and consumer awareness of electric vehicles.