Arcimoto, the manufacturer of fun and funky-looking 75 mph (120 km/h) three-wheeled electric vehicles, has been struggling financially in recent months. After being forced to pause production and temporarily shutter its Eugene, Oregon-based factory, the company has returned with good news: it has secured $12M in funding from a quick stock raise at a reduced price.
The new models will receive improved steering that enhances maneuverability and handling, reducing steering effort by as much as 40%. I’ve tested the FUV on several occasions and it’s an awesome ride, but the steering was a bit of a challenge at low speeds. Arcimoto has also started offering half doors as an option.
The company is hoping that the new update and the fresh cash from the funding round will help them get back on their feet. Mass production is said to eventually be capable of dropping the price of the FUV closer to $12k, making it more accessible to consumers. Arcimoto has also targeted commercial customers with a cargo version of the vehicle known as the Deliverator.
I’m definitely excited to hear that Arcimoto managed to find the funding to stay afloat, and I hope it’s enough to get the company back on its feet. If Arcimoto can survive to reach higher volume production and drop the price to its $12k target, then the company could see a serious increase in demand. The difference between $12k and $20k is huge, especially for a vehicle that is more of a second car than a first car for most families.
Is it a sensible purchase for most people? Probably not. It’s more of a splurge for eccentric folks right now. But having experienced the FUV and its top-chopped Roadster cousin, I can firmly say that anyone who tries one will enjoy it!
FAQ
Q1. When will electric cars be available in the UK?
A1. Electric cars are already available in the UK and can be purchased from a variety of dealerships.
Q2. Where can I find electric car charging stations near me?
A2. You can find electric car charging stations near you by using online maps or apps such as PlugShare or ChargePoint.
Q3. Which electric car is the best?
A3. The best electric car depends on your individual needs and preferences. Some popular models include the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV.
