A new line of vehicle has Arcimoto executives hoping for a turnaround following a tough year of challenges.
Eugene-based Arcimoto has talked of strategically refining production and delivery, as a means to a “path of profitability.” This has included cutting back its workforce from 324 employees to 122.
Now – as part of its “Investor and Analyst Day” this morning- Arcimoto has unveiled a new vehicle that will be rolling out of the company’s Eugene production facility, called the Modular Utility Vehicle (MUV.)
In a web presentation, Arcimoto CEO Chris Dawson said this industrial focused, three-wheeled vehicle will provide “right-sized” services.
“It doesn’t make sense that I take a 6,000-lb. SUV to get my latte,” said Dawson. “I’m certainly guilty of that, I’m sure that many of you are well. But it’s equally ridiculous that a large diesel box truck delivers you your toothbrush. So again, this is the right tool for the right job.”
The MUV sells at a base price of $23,500 with a range of 102 miles and top speed of 75 mph. With a flatbed feature, the MUV is intended for hauling materials, supplies, and equipment.
At last check, Arcimoto stock hovered around $1.59 a share. That’s down sharply from a couple years ago, when it was valued at just over $343 per share.
