FUV - Arcimoto updates production plans slates first 2023 deliveries for March

Arcimoto ( NASDAQ: FUV ) announced plans to begin vehicle deliveries for 2023 in March in a statement on Tuesday.

The company announced that it will start 2023 vehicle production on FUV and Deliverator and plans to make its first deliveries beginning in March. The company said that 2023 product updates will “reduce steering effort by more than 40%” from prior models.

“As we begin first deliveries in 2023, we continue to focus on improving vehicle drive quality, manufacturing cost down efforts and increasing our brand reach to grow both our consumer and commercial sales volume,” CEO Jesse Fittipaldi said. “Our efforts will be directed at driving sales of FUV and Deliverator and lowering manufacturing costs on these products this year.”

The company delivered 89 vehicles in Q4 2022, bringing total deliveries for the year to 228. More than 500 Arcimoto vehicles are currently on the road, according to Tuesday’s update .

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