Mark Frohnmayer wants to make ‘fun” part of the daily commute with the introduction of the Arcimoto FUV (Fun Utility Vehicle). In the above interview, Frohnmayer, Arcimoto President and Founder, provides an update to his 2016 ViodiTV interview, as he explains how they have gone from start-up to publicly traded company with a manufacturing plant in Eugene, Oregon.
On October 1st, they announced completion of what they term first drives for their FUV Beta Series and the beginning of production of a 25-unit FUV Pilot Series. According to the press release, this will lead to the Retail Series, which presumably would be the mass-production necessary to fulfill the 2,900 units that have been reserved by potential customers. Frohnmayer suggests that their goal is to ship 10,000 units per year. Although minuscule, compared to an overall market with over 17 million vehicle sold each year, this sort of volume would generate $120M in revenue, assuming an average price per vehicle of $12k.
This vehicle isn’t a slouch as it offers 7.5 second acceleration from 0-60 MPH, 70 mile range (optional 130-mile range) and achieves the equivalent of 230 miles per gallon, while using standard electric charging infrastructure. It carries a passenger and driver in either an open or enclosed (optional) unibody chassis/body and proves its utility value with “bolt-on accessories to carry your bike, surfboard, golf bag, or other bulky items.”
Frohnmayer indicates that have a direct to consumer sales model, whereby consumers order online and the vehicles will be delivered directly to the consumer; eliminating the dealer network. They are partnering with entities for service, although given their vehicles are electric, service will be minimal compared to internal combustion powered transport.
With its relatively low-price point, the Arcimoto FUV could create a vehicle sharing segment that fits between e-scooters and traditional cars. A recent press release, indicates that ten of their first units will become rentals in Eugene, Oregon and San Diego, respectively.
Hula Holdings (aka Hula Multimodal), which operates electric charging stations in Southern California, is the recipient of five of these vehicles and is planning on deploying them in a shared manner at “participating hotels, mobility hubs, train stations and destination resorts.” Like other sharing options, an app will find, unlock and track this unique vehicle. Parking will be much easier, as three will fit in a parking space normally reserved for one car. And, unlike an e-scooter, there is probably little chance a driver will leave it in the middle of a sidewalk.
Hula’s plans and, by extension Arcimoto’s, go beyond transport of humans-only, as they intend “to leverage existing and new partnerships to use the Arcimoto FUV fleet in rideshare, delivery, last mile, and hospitality applications throughout the San Diego region.”
