Arcimoto, the electric vehicle (EV) maker, has announced that it will resume production at its factory in Eugene, Oregon in March 2023. The factory had been shut down in January after the company filed for bankruptcy. However, in a press release issued by the company on Tuesday, they declared that they will start producing and delivering their Fun Utility Vehicle (FUV) and Deliverator three-wheeled EVs next month.
Interestingly, the press release made no mention of the factory shutdown or any update on the company’s financial situation. In a regulatory filing last month, Arcimoto disclosed that it was selling $12 million in additional shares at $3 each. However, it also stated that it would still need “substantial” additional funding, which might not be available “on acceptable terms.”
See also: EV Manufacturer Arcimoto Halts Production and May Seek Bankruptcy Protection
Despite this, the company appears to have found additional funding and will focus on reducing production costs this year. According to Jesse Fittipaldi, Arcimoto’s Interim CEO, their efforts will be directed at improving vehicle drive quality, lowering manufacturing costs, and increasing their brand reach to grow consumer and commercial sales volume.
Customers who take delivery in 2023 can expect to see their FUV or Deliverator come with a new steering system that will provide improved handling and maneuverability at all speeds, while reducing steering effort by over 40% from prior models. Customers who already have an Arcimoto EV can upgrade their steering system for a small fee, according to Dwayne Lum, Arcimoto’s Chief Product Officer.
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In Q4 2022, Arcimoto delivered 89 vehicles, bringing their annual total to 228 and the total number of Arcimoto EVs delivered to date to over 500. The company’s focus on reducing production costs and improving their vehicles’ performance and drive quality will undoubtedly contribute to their success in the growing EV market.
