FUV - Arcimoto announces new electric modular utility vehicle is available

2023-05-30 07:21:18 ET

Arcimoto ( NASDAQ: FUV ) announced on Tuesday the availability of a new model offering called the Arcimoto MUV.

The company said the model introduction marks the first on-road modular utility vehicle in its lineup of small footprint electric vehicles for dedicated professional and commercial use.

The Arcimoto ( FUV ) MUV is noted to be built on the company’s flagship FUV platform and is said to be a workhorse for daily indoor and outdoor use for industrial mobility customers who need to move goods, materials, supplies and equipment reliably, quietly and sustainably.

The Arcimoto ( FUV ) MUV is seen offering functional and flexible solutions for several industries including government and municipalities, homebuilders and HOAs, manufacturing and warehousing, colleges and universities, agriculture and landscape, construction, aviation, as well as delivery. The MUV has a top speed of 75 mph and can carry a payload of 500 pounds, yet is said to be small and narrow enough for the tightest of work environments. Its dual-motor front-wheel drive with a single seat, provides optimal utility range up to 102 city miles, along with fast and easy charging with level 1 and level 2 charging capabilities.

The Arcimoto ( FUV ) MUV is available for purchase starting at a MSRP of $23,500 for the base Carrier Package. The vehicle can be equipped with the Utility Package at $299 or the Cargo Package add-on for $1,500 or both for full flexibility.

"The utility vehicle market represents a tremendous opportunity for Arcimoto and our new MUV underscores the company’s growth in the urban and industrial mobility segment," updated Arcimoto ( FUV ) CEO Chris Dawson.

"Our customers are seeking highly versatile electric vehicles that are quiet, packed with performance and are reliable for their daily round-the-clock needs and we are delivering that today to customers who require sustainable and cost-effective utility vehicles to get the job done right," he added.

Shares of Arcimoto ( FUV ) rose 2.55% in premarket trading on Tuesday. Arcimoto ( FUV ) is on Seeking Alpha's Catalyst Watch this week with the company hosting an Analyst and Investor Day with the theme "Driving the Future Forward." The company plans to outline its revised strategy focused on providing reliable, efficient utility and consumer EVs to its customers while driving growth and profitability in the passenger and industrial mobility markets.

More on Arcimoto

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