Guys, as a shareholder I've been highly critical in the past, but this update is a step in the right direction. In terms of the presentation, the increased transparency you're providing is key (the number of rentals etc, and especially the marketing strategy, including conversion rates - this is great stuff). Also, the message that you'll get to an annual production runrate of 2400 units at the end of the year is key. I would say this needs to be emphasized even more. And good to see that more team members were involved here, and that the team spirit seems to be fine. Where I'm still lacking transparency is when DC/fast charging and vector/improved steering will actually be implemented, and the full enclosure stuff as well. And I still don't get why you can't make a big sale to some delivery company. Just tweak the price/product and make the sale. If you set the delivery date for 2023 or 2024, which is totally fine for a fleet order, you have time to scale and get unit cost down.
"...big sale to some delivery company" Food delivery is done by "independent contractors". And $20k on a new and not widely proven product is too big an investment and risk. Many just rent e-bikes, or have a car with unlimited range to do ride share, as well. Package delivery these are not for. What kind of delivery company are you talking about? The FUV looks fun but this company is just ridiculous. They seem to be talking about Larry and Moe working more shifts to up the production from 100 a year to 105-110. There's got to be something majorly wrong with the product that they can't get a real factory to start churning these things out. They should have had a full door option from the start. It makes me think it isn't possible due to danger from the wind knocking it over. Maybe market research even says no one trusts a three-wheeled vehicle or something. All that being said it looks like a fun vehicle to own for $10k - $15k.
Production capacity is meaningless without demand. There is no demand. They can't sell them. After years and years and even with no production in the first quarter, and they have a backlog of 41. That's nothing. They will have to go BK, go through reorganization, and maybe keep building product. But current shareholders will get nothing. Creditors will assume control of all assets.
I look forward to a continual stepped improvement of production and capital investments from the company! We know the product is great, let's get those butts in seats! :)
I am a huge believer in Mark Frohnmayer's vision and as a stock holder I am in it for the long haul. Ramping up production takes time and a great deal of effort so I hope everyone stays positive that financial success is achievable.
Placed an order last month. Just received a VIN and bill of sale this month. I'm told my build is at Station 6 and am reminded of supply line shortages and delays. I'm under the impression I am at the front of a second surge in orders locally. Maybe I take delivery next month. All the hand wringing and naysaying is amusing. The company is still on target. I live and work in San Diego with a forty mile daily commute, city and freeway. They will have no problem building demand here. It's cheap, as a commuter EV, even at it's current price. I'm not waiting, state rebate ends this month. Mark has done all the work, time to enjoy the ride.
Valiant effort from the team! I have been studying Arcimoto for a few years now. There are many complainers. As annoying as they are, they come, guaranteed, with any endeavor. For me, the biggest issue was the difficult steering followed by battery range. You showed recently that through the engineering change and Stark's contribution, the difference will be staggering. one aspect I am picking up on is that people really love their machines. When the steering adjustments are made available to the "butts in seats" campaign, I believe the trajectory of the company will go straight up! There are real concerns but there are answers to every issue with the proper dedication. I missed out on Tesla because I listened to the experts and complainers. I won't miss on this one. In Georgia there are so many bike clubs. There are also golf cart communities. if you want a marketing explosion, display your vehicles for say a month at Trust Stadium where the Braves play. They have a whole courtyard specifically for that. You are talking about thousands of eyeballs on your product of people that can afford it. Me personally, I wouldn't do any more rides until all the new steering upgrades are ready. It is the difference between "maybe, if the price was lower" to "I need one no matter what the cost". But that is just me. If people are falling in love with the current steering situation, it will be insane when the new machines roll out. the doubters don't see what is coming. Not their fault. When correctly understood, there should be nothing more delightful than the growing list of realistic complaints. Your products will grow endlessly better. for me, it all starts with the steering. Fantastic achievement Mark and company!
The “4 conditions of a healthy company” needs to be published everywhere for your shareholders. Mark wasn’t able to make this incredibly important detail clear to investors. Keep moving forward everyone, I for one will be there with you.
They can't move forward in any regard without financing, that's just a fact, so where is that coming from? Continued sales into the open market? If that is the case investors need to be made aware.
@@benhinchliffe7696 that’s pretty much what he said, aside from whatever loans they can get which they consider reasonable, but the majority seems to be ATM. They’ve noted that getting loans at this stage outside of equity based loans are very unfavourable, and as much as I hate to say it, I’d rather them dilute than be chasing down crappy loans for years at this point in time. Dilution will knock the stock down even further, and then I’ll buy more 🤷🏻♂️
@@benhinchliffe7696 I don’t think they intend to do it “forever”, but that’s what the market is for, and unfortunately it’s simply the best option. The stock will plummet if they carry outsized debt too, so it’s poison picking time. I’d rather an increased share count and just buy tons more at the low price it creates. Short term pain, long term gain.
I don’t agree, the point not on dilution / loan; the key is whether to make significant change and show the value/growth of the company . Otherwise not forever dilution, ten or twenty time still can kill them ; not only stock price, it also signal to tell public they can’t overcome the difficulty. Public will lose confidence on them. Personally I would prefer any possibility of acquisition / merger which give them a chance.
I have a pretty big investment in this company (for me). My main concern is funding to get to the scale they need to be profitable. I do feel better with this call. I think they will get money along the way as needed from where they can and minimize dilution. I don't even care about dilution for the most part; I think the potential is huge if they can get to scale. But why dilute at these low prices if you can wait a bit for the stock price to go up? I realize it could go down as well, but this company is worth way more than $3 per share.
They seem to be diluting only to the extent necessary to keep moving forward towards profitability (likely a key driver of stock price increase). Things like payroll, factory improvements of reasonable ambition for where they are in the growth curve, R&D on MLM and FUV 1.x platform all need to happen to get there. I think that was the point of the "Four conditions" for a healthy company discussion - Don't expend too much capital for your stage of growth, but also don't fail to spend the amount needed for forward motion based on market demand, production capability, and reasonable next growth steps. I am also invested large (for me :)) and I think their approach has been excellent so far. I especially appreciate the minimal dependency upon debt financing because debt comes before stockholders if there's a misstep and that's how us shareholders can lose out. To that end, I'd rather be diluted than have the company take on debt.
The markets are tough at the moment. This should allow operations to focus on developing a world class manufacturing base, although the nerves will be shot of the shareholders due to slow sales. I'm in for the idea to see something incredible in ten years
@@HaikuTylerM well said, I agree with everything. I’m in the same position as well, I have an outsized position in this but if dilution sends this under $2 this year I’ll double by shares. It’s only a matter of time before this takes off and they have tons of shares to sell if need be. Could be a rough few quarters still but that factory looks great and all the processes they’re bringing in house is all good stuff, the trajectory is there for this to break out next year.
They are burning cash in a hurry. They only have about 1 month of cash on hand, so they need to keep selling shares. The lower the stock price goes, the more shares they will have to sell to pay the salaries of the 300(!) employees.
Sold out for a slight loss, probably one of my hardest investment decisions. I love the product and the company, but too much seems not going well. The supply chain is hard, but you really have to figure it out, or it feels like an excuse by now. Producing 102 vehicles while 1 shift capacity should be 6/day is not enough. Getting 3 shifts running and producing 1000 in a quarter would do so much for credibility. I do not know if the underlying problem is demand, with only 41/102 sold. Though at the same time, ppl from all over write in the comments they would like to buy one. Maybe the price point has to come down, even if selling them at a loss while production is scaled up. Which brings me to funding, ATM is just not sustainable, and everyone knows this. At the current share price dilution is insane, lowering the share price even further because of people like me selling. If this circle is not broken Arcimoto will cease to exist sooner than later. I do not have the magic bullet to break this circle, but Mark not showing up was the final crack for me. I do not know enough about Jesse, but I do not feel him being the guy to inspire people to put their hard-earned money into Arcimoto. I hope Mark is doing well and somehow Arcimoto manages to break out as the product and the mission are fantastic and much needed. Would love to fuv around town one day.
I had the opposite feeling with Jesse, it was refreshing and confidence building to hear him give his take. Seems like an intelligent guy and I hope he'll do great things.
selling the fuv at a loss is a very interesting thought that i agree arcimoto should entertain. in days of stock buybacks and market manipulation. giving back to the customers instead would have monumental impact IMO
Should have seen this coming (potential bankruptcy) when they started doing the "podcast series" on RU-vid, I mean, it just means they hired people and giving them nothing useful to do. While I loved the product, it is obvious now management has failed hard. I am out.
Mark absent was noticed. However, operating a mass production facility may not be for him. I wish they would have be more transparent about it. I'm still long on FUV.
FYI, I saw one of the JOCO vehicles in NYC, which is what brought me here today. The visibility is helpful. There’s been a number of false starts in this space and I think there are a lot of us hoping for this to be the one that goes all the way.
Okay I'll say it: I lOVE Jesse Fittipaldi. It's not that I don't like Mark. But Jesse sounds like a focused man. He's confident to bring the company forward.
Great video explaining all the key parts of Arcimoto. I look forward to seeing how the Full Enclosure of the Arcimoto FUV gets developed and implemented for we the customers in colder States and Climates. Also if sometime in the future there would be a longer battery range FUV to cut down on the amount of times the Arcimoto needs to be charged up. Thanks for video and take care.
Just 50%?! I'm at 70% loss currently. I was a big believer in Arcimoto, but the continued dodged questions regarding finance....well I just don't know anymore.
Well, after today's 8/16 share price drop, you can add a few percentage points to that. 5 years? I think we'll find out within a year or two whether Arcimoto still exists considering the cash burn. BTW, I'm down 65%
Very good webinar and performance, given the circumstances. Welcome to new team members and happy to see Jesse Fittipaldi as new CEO. Increase in transparency is VERY MUCH APPRECIATED!
@@tourbike company needs more operations-oriented management now and old CEO is more of a creative type leader, he will continue to help evolve company’s product roadmap in more appropriate role as CVO now
@@Sventasis thanks for the reply, and that makes sense. To be honest he was a great communicator and I liked how he presented the business in this format on RU-vid. Wishing everyone the best and God speed on taking the business to the next level. 👍👍
I wonder how FUV will survive. Regardless of the appeal of the product, its burning cash at an unsustainable rate. Started the FY with $38 million and ended with $5 million, despite selling $17 million more equity and proceeds from a $4.5 million convert. Most of Q2 production was not converted to cash - only 41 units were sold, while 20 went to the rental business (which requires cash at this point and I assume is just a method to absorb production that can't be sold), and 55 to inventory. I'm guessing the terms of the convert are not friendly and there are land mines that when triggered would result in Chap 11. Looking back, the acquisition of Tilting Motor for $13 million in 2021 was not a good move. How much cash is Tilting contributing?? Any more new equity can only be sold at vulture price and would drastically dilute existing shareholders. Ultimately, the company needs to sell enough units at a margin that allows it to recover its costs. This is called break even. Management, when will this happen? This company needs a miracle, an angel, and to be acquired. All three.
Wow someone who actually gets it on here.... any competent investor wouldn’t touch this longer term. If you want to trade it good luck but remember they are constantly selling stock ATM and eventually once retail finally runs dry the stock will go sub $1.
@@rogerkinney5412 I'm guessing management has been in turmoil for a while now. The cash crunch is obvious, and making moves like buying Tilting Motor and starting a rental business must have raised questions. Its lunacy for a company with limited and dwindling resources to pay $13 million for another company with limited and dwindling resources. The board was likely uncomfortable and looking for a way to exit Mark. The DUI was the final straw. Just guessing.
I completely agree. The rental business is not only a sign that they have production they cannot sell, it is also an indication that they couldn't find a dealer/distribution partner. How they expect to deliver and support thousands of these from small factory to customers everywhere is a mystery to me.
The company has a Standby Equity Distribution Agreement filed with the SEC. The registration is $100 million. They have already issued shares worth around $29 million against the SEDA and had a subsequent event on August 15 of another share sale to raise $9 million. I don't believe the CFO mentioned the subsequent event in the video. So the company just obtained $9 million, to add to the end of period $5 million, so $11 million cash balance. When that runs low the company will need to use the SEDA again to sell more shares for cash. Or find another method.
@@dignitylifts explain to me how you can possibly turn a profit or spend less than what’s produced if you’re ordering more material for the following quarter? The production is past recording, the ordering is forward recorded. Bears constantly compare ramping numbers to steady state numbers. If they simply stopped ordering materials for the next quarter and just shipped everything they had right now bears would cry fraud because they’d log higher production than cost.
I sold my 11,000 shares Tuesday with a huge, for me, loss. Sadly I bought into the hype. But with only 41 orders on the books, after years of videos, trade shows and RU-vid appearances, the time has come to admit the obvious. No one wants this product at the current prices. Maybe if they could produce it for $12,000 or less. But that is years away. They don't have years. The company will go bankrupt. They may be able to reorganize under chapter 11 and continue as a producing company. Certainly they have some nice intellectual property surrounding the MLM and maybe even the FUV. And they have some nice factories. So after a reorganization, with current stockholders getting zero and creditors getting control of all assets, and about three fourths of the employees laid off, they may keep operating. I hope so. I still want the MLM that I pre-ordered. I was lamenting my own losses until I realized that Mark has lost, or will lose, almost everything he made with his game company. Millions down the drain for a dream that will never come true - for him at least.
are you an idiot? did you not hear the CFO numbers for the quarter? I will admit its close but Tesla faced similar issues when they were scaling. Their cash mgmt is superb given the resources they have IMO. You took a loss and sold the dip so youre thesis is emotional. youre more likely to go bankrupt buying high and selling low like a gambler than arcimoto going bankrupt. You take a loss you leave it even if it goes to zero. thats how you win. Ask Billionaire Changpeng Zhao after his 80% loss on a million dollar Bitcoin investment a little more than half a decade ago.Good luck being poor bro.
I asked about this once and it turns out there is a strict and slightly complex definition to do that legally. Because some of the key parts from outside suppliers can't currently be sourced from US manufacturers they can't quite qualify. I've heard this is the issue with moving manufacturing back to the US in general - product manufacturers need an entire web of layers of component and sub-component manufacturers that their products are built from.
Please just read the 10Q filed with the SEC!!! It’s clear now they have a DEMAND problem! Laughable they talk about scaling production when in the filing they only have a 41 unit backlog! Doesn’t matter how much or how fast you can produce something if hardly no one wants to buy it.
Roger you dont seem to understand that the focus is rental not sale. You actually dont want a big back order right now when every vehicle is loosing money. Its better to make them and send more for rent and make more money over a longer period of time.
The demand problem has been obvious for a long time now. They and their fans have chosen to ignore it or gloss over, but the weakness of demand is and always has been their biggest issue.
@@moorewarner Email received today, October 20, 2022: "Starting today, we are now accepting vehicle orders from customers in New York, New Jersey, Pennsylvania, Maryland, Virginia, Georgia, and Washington D.C.. If you order today, deliveries are expected to arrive within the next 120 days."
Email received today, October 20, 2022: "Starting today, we are now accepting vehicle orders from customers in New York, New Jersey, Pennsylvania, Maryland, Virginia, Georgia, and Washington D.C.. If you order today, deliveries are expected to arrive within the next 120 days."
I couldn’t agree more, I’ve been in sales all my life and always considered it in poor taste to try and elevate a product by the demonization of another. If you truly have a great product it should be able to stand on its own.
Great news on knocking down the order backlog, from a 6 a week to 6 a day in a bit over a year is a good direction. Also, finally some movement on DC fast charging. Once that actually becomes a feature I'll gleefully put an order in.
@@rogerkinney5412 So... you want the backlog to be several hundred like it used to be? I think that it is down to 41 now is a step in the right direction. Soon enough, there won't be a backlog at all and a surplus, is that a bad thing in your books? It's a plus in mine.
It gets cheaper each year after the base price is set due to inflation, even before the new lower priced version 1.xx The average price of a new car is $46,000 in 2022. That makes this cheap now before any rebates and the price of gas has effectively made EVs cheaper without lowering their prices. Add to that the 80% cheaper insurance rate for FUVs that get the motorcycle rate. Mine is just $130/yr in Florida where 'cheap' car insurance is just shy of $1000/yr. Also the resale price is very high for a while, the 3 used FUVs that have been sold went for close to their original purchase prices.
I started saving for an innovative vehicle 4 years before I became convinced the FUV was what I wanted. My deposit was put down almost 3 years ago. I waited 2 years for delivery. Worth it. Bought my last gallon of gas in 2015.
I have placed a refundable order for the MLM but I'm in Australia, does your team have any ideas on how the MLM will be sent to me, will it be in modular form with some assembly required or completed in a box ready to go, and finally when will it be available to me.
It will be released in three iterations, each one less expensive than the previous. Very unlikely to be broken down beyond dismounted wheels and handlebars and seat.
@@enzodarro179 No, I'm just an owner of an FUV. The best way to stay informed is to watch for new videos. Once there are owners, they will form a new Facebook group for sharing and support. The current group for the FUV is helpful, daily news. Some from insiders. You will be getting notices from them as your order fulfillment comes closer. You may have to pay a 10% deposit on the full price of your MLM once it is near production, at that time you will select options.
@@enzodarro179 I learned a bit more about the shipping box - the vehicle is designed to be shipped in a flat box with a small amount of assembly required.
ARCIMOTO: I have 2 words for you - NEW MEXICO!! We have some of the nation's best trails and we have so much sunshine for solar. Please expand your sales to include NEW MEXICO!! Please!!
Email received today, October 20, 2022: "Starting today, we are now accepting vehicle orders from customers in New York, New Jersey, Pennsylvania, Maryland, Virginia, Georgia, and Washington D.C.. If you order today, deliveries are expected to arrive within the next 120 days."
@@dignitylifts That is an absolute lie. The moment each one gets all its parts it is routed to shipping. Order waits from the time you make your $2500 down payment are varying from 3 weeks to 3 months depending on parts shortages. Maybe you meant to say 55 almost finished but waiting for parts. That sounds about right but those are all spoken for so you lied there. Each one is custom painted depending on the order. A few of the orders are at the base price only but the average purchase was $24,000 as I recall from the video. How many buyers do you think backed out and forfeited their $2500 (plus the $100 pre-order deposit) down payment? In each case that would be pure profit for Arcimoto. I gave $2500 extra for all white paint and it was ready to ship within 5 weeks of my initial $2500 payment. There was a 2 week delay for shipping because of the driver shortages and the need to fill a full load for Florida. All US companies are under the same pandemic/war influences in parts and materials supplies. They are lucky if they have no delays due to shortages and that luck does not hold long.
@@popeyegordon Per the SEC quarterly report there are 55 FUV in finished goods inventory. I would say there could be a few units unsold as the chief experience officer said order to delivery conversion was 95% in the Q&A Any incomplete units on the production line and those awaiting parts would be included in inventory At June end inventory was $11.44M
@@bernesto2468 Most of finished goods are the 40+ units for in-house use, demos and R&D. The thing you negative trolls are trying to prove can not be proven with any information availiable to anyone not employed there. You are like a bunch of gossiping old biddies.
From the report, looks like they also have a battery issue (sent two types? One was discontinued) due to the supplier and and also need to come up with a connector or something for the discontinued battery.
@@marcosugarte6165 In my opinion, each continent needs to be making these in factories that use local labor. US labor is expensive. But the brand is still in early stages now, just 7 states are being distributed to for now. Each state gets a mobile service team. You would not want one of these without warranty service available for software upgrades and any recalls.
That's true, Australia needs to kick start manufacturing here. Not looking good, though, for the time being. Time will tell. Still enjoying your updates.
Are they still on course to produce 50K units per year by 2024? (That was a joke folks). I must say, it was refreshing not to be led around by Frohnmayer this time around. It's a bit disappointing that Jesse, the acting CEO looked like an unmade bed, but appeared to sound like he was in charge. What a nail-biting, nerve-racking journey this is.
Arcimoto: Marketing idea: the San Diego Zoo would be an ideal location to have rentals. The zoo is SOO big, folks would love the option to ride an Arcimoto through there!! Just a thought!
Last thing the S.D. Zoo needs is idiot tourist speeding through the streets on FUV's on a busy day. I'm sure the staff could use a Flatbed or Deliverator or two. Arcimoto Rental is just two miles south of Balboa Park, anyways. The Wild Animal Park may be a better fit for an FUV.
Re the question about government sales at 18:40. - "Kevin, sounds like that's in your wheelhouse". - "Yeah, I'll definitely take this one" - proceeds to bullshit for two minutes, not saying a single thing relevant to the question asked. This job is tough, I could not do that with a straight face. ---------------------- Re: DC-Fast changing - No answer ---------------------- Re: rental centers, are they profitable: - No answer. 23:40 - How are you getting funding? - No answer - we'll be using ATM for now.
How are you on this sunny morning in 🌏Goonellabah on North Coast NSW🌏? 👍👍👍👍👍 The Team and I Fully Charged LIVE-Sydney 11th to 12th March 2023. I will be there in Sydney. We promoted the project on the film on stand team taking a project and future projects.
Really strange to not have this being opened by Marc, if at least to pass along the sceptre. Never mind not having him on at all. Seeing a founder/CEO step down is always a huge red flag, and him not being there at all is even worse. Call was also very uninspired and traditional, definitely a huge step in the wrong direction. Very disappointing to see from such a cool company... :(
Personally, I found this call's focus on hard numbers, metrics, and specific examples of issues/solutions to be refreshing, and a big step in the right direction
I have to agree. They should have given some explanation of Mark's reason for stepping down, whether it's the oregonlive news of a DUI (which is no good reason, IMO) or something. The meeting had that traditional feel for a poorly run GM meeting instead of a micro/small-cap startup where Mark had taken it. I would have also preferred a quick discussion of the CEO search. (Suggestion to the interim CEO: Lose the bracelet during the meeting, it clanged on the table as you spoke). ... I say all this having just driven through Eugene and rented an FUV. My wife moved from "why does my EV-obsessed husband want this thing" to "let's get this thing".
@@Pluberus that's why I called it traditional. I think it's an outdated way of running earnings calls, but I understand analysts and some other people might appreciate it more. That said, it really doesn't fit Arcimoto's personality and looks like proof to me that they're having a bit of an identity crisis at the moment.
I don't think this is a red flag. As an investor and FUV owner I thought this was a different but well done meeting. In some way it feels like the company is growing up from small-quirky-fun towards medium-polished-profitable-fun. That's probably good for the long term health and growth of the company. More "traditional" is not necessarily a bad thing for a publicly traded company that is in a growth phase and will need to raise significant capital over the next period to fund that growth; doing so means appealing to traditional funding entities who probably appreciate a more traditional earnings meeting. I'm going to disagree with you on the "huge red flag" bit. I've done a fair amount of reading on startups and worked with quite a few founders as a consultant over the last 3 decades, and it's fairly rare that a founder is the right person to lead what becomes a large successful company as CEO through all three of the major phases of a company's life. Often what inspires a founding CEO is the creativity and magic involved in the vision-to-reality phase and building that vision into a first actual product. The next growth phase of a product and company is a much different mindset and activity and, while this might be possible for the founding CEO to execute, it may not be their preferred way to spend their energy (or it may not be the best fit for any of a number of other reasons). Mark's done a great job for the napkin-to-real-product phase and helped lead the company into a solid start on the growth/scale phase. With Mark still there to hold the company vision, advocate for the values of that vision and the company, and keep inspiring the team with his creativity and honesty, I think there's a lot of potential for the right phase-two CEO whose focus is on supporting the strong team Mark's helped put in place and do well growing the company into significant profitability and scale. So, no red flag here for me. This transition could, perhaps, have been handled in a slightly more polished manner (find the new CEO before Mark transitioned out), but sometimes you don't have that option. Even if you did, it's never trivial to change gears. I've met and spoken with Jesse and a few others on the leadership team, as well as a number of other people in the company, and I think a strong team is in place to manage this transition and to continue the growth and progress the larger team is focused on despite the challenges of the current supply chain complexities and social disruption of caused by the global pandemic. I'm a happy driver of an FUV and still long on Arcimoto. I'm looking forward to receiving the MLM I ordered as well as the improved FUV when that becomes available.
If you add range (with better battery tech or more batteries, despite the potential for added weight?), you may be able to attract more customers in a slightly more premium segment and up your revenues. Maybe even up demand. As a consumer, I want to think I can do a lot of types of trips if I'm going to buy a vehicle. A lot of young people are on the fence about owning a car. Roughly $18,000 new is a pretty good price for a car replacement. If this can replace a car for more types of trips (range is relevant here), then they might go for it. If you are able to increase your revenue and demand, it could help subsidize the continued offer of the lower-spec items. Likewise, I do hope your specialty variants like Deliverator and First Responder and Cameo can help up your revenues. I'm not an investor at the moment, but seeing as you're one of the few small vehicle manufacturers out there actually making and selling their product, I want to see you do well. Best of luck!
I have not left my town in 7 years. I use the FUV for 5 mile round trips most of the time. Wish it had less range, less power, different gearing so the top speed was 70, not 85! Cameo, MLM and Roadster lines are temporarily suspended to deal with parts shortages and focus on deliveries.
@@popeyegordon Fair. I still think that could be the "localizer" or some flashy name for a smaller-spec option for slightly cheaper to reflect saved materials. Then you use the "ranger" name for a longer range, higher price, higher margin spec to subsidize the other products. Some people want different things out of their vehicle, and I'd like to see this company be able to reach just a little bit in either direction to hit those targets a little closer, including price expectations. But people probably do underrate how much they can get done in under 30 miles range, even. Problem being, Arcimoto can't really cure that perception overnight. And being honest, it does make road trips/interstate travel a pain or not realistic once you go really low range (esp for highway speeds this vehicle loses a lot of range. Maybe it needs an enclosed version with better aero efficiency for that hypothetical "ranger" spec).
@@MrSmitheroons Testing and owners with doors find no signiicant difference in range which is already more than we should go in one day. For longer distances we should be using busses and trains, or simply change our behavior. I did, by not buying gas for the last 7 years. The shape of the vehicle is already slippery with more width in the front. The plan is to drop the price and all EV batteries are improving every year.
@@popeyegordon I admire your commitment, but some people out there really do need to move that far every day, such as those with a very long commute not served by public transport. Perhaps this should be achieved with a second gear for higher efficiency at higher RPMs. Battery and everything else can stay the same. I can admit that for most people, the existing FUV goes far enough for most days. So I'm not sure if it's worth adding second gear or not, or even how hard that is to do. I just think it's sad the FUV (and pretty much any vehicle in this size and price range, see electric motorcycles, electric bikes and scooters) loses so much range at high speeds, that is all I'm saying.
@@MrSmitheroons Gearing would cause overheating. ALL vehicles face the same exponential wind drag increase with speed. Simple physics and another reason for a slower speed limit. As of 2010 there was all the evidence we needed to never do long commutes again in personal cars. Move there, take a sleeping room for weeknights, quit the job or take public transportation. A car you own and fuel for these commutes costs you at least $4000/yr after tax income which brings up the point that you can quit that far away job, sell the car and come out ahead with a lower paying job, better for all involved. I have done this myself many times - turn down job offers far from home, come out ahead and more healthy by riding a bike a few miles to work. The next step in rolling back driving miles is a carbon or envionmental tax based on miles driven.
First month of the quarter was still moving into the rAMP and getting new battery packs validated. Also they weren't doing 6 per day all quarter - that was achieved part way through the quarter IIRC.
My understanding is that doing this would make the vehicle subject to an entirely different, and huge, set of NHTSA requirements and certifications since it would become an automobile class vehicle (motorcycle currently). Meeting those would increase vehicle weight, size, and complexity. Basically they'd be starting over doing a car company and that takes billions of dollars of funding (see Tesla, Rivian, etc). That would be a terrible idea for investors and completely off-mission for Arcimoto since it would be going in the wrong direction - away from producing "right-sized transportation."
Mark did say that the biggest challenge they were facing was “leadership”. I guess the board was not happy about the direction the ship was being steered towards.
@@TanCampBruno Arcimoto video comments verifiable harassment flag #33 Anyone looking at the accumulated offenses of this troll will suspect he is being paid by a competitor to attack Arcimoto. A shill gambit becomes a shill identification when it is proven. Start with Aptera. He thinks he is clever by changing his channel name from Tan SpaceX but the flags still stick. This jackass is so completely rejected he has NO subscribers after 15 whole years! You have to work at it to be that hated.
What's the point of trying to make this look casual and spontaneous when it's very clearly totally scripted?? Everyone was just reading prepared comments. Nothing screams "fake" more than that. Sheesh.
As an owner who likes my FUV I could care less about the quality if their videos. That's pointless nit picking. What matters is fun, sustainability and safety. They nailed it.
you guys should check out gogoro battery system you guys should also look in to asia market u.s market = driver's market asia market = ev bike financial number is bad.....
I’m saddened by this update, not so much by what was said but more by the total apparent lack of enthusiasm displayed by the Arcimoto team. Nothing seemed fluid and everything felt forced. Without actually witnessing it first hand I’m going to guess there is a real moral issue in play. On a positive note I’m glad to see focus brought back to the ORIGINAL core concept of building a vehicle that fills the niche between an E-bicycle and an E-car at an affordable price…..achieve this and the sales will find you. Stop over complicating everything and trim some fat!
This was a great presentation much better than what has been previously done. Don dont be too sad you should reach out to someone for some mental health
@@MrVendersrep The exact opposite is the truth - we would have to dumb down, become sour, negative and have the patience of a 4 year old to be at your level. After 11 years you still don't have a single subscriber. Catch a clue.
@@popeyegordon I feel sorry for you, I’m guessing you are a shut in that has a real lack of confidence with people face to face so you find random people on the internet to disrespect to make yourself feel elevated. I hope you find yourself so you can join the world and have real meaningful conversations with those you may not agree with. This is my last reply, I wish you well…..
The base price has not reduced, the lead lag time has increased. Range is the biggest issue which still hasn't increased. This is a stock that is still difficult to own. which I do, still kicking myself for it. Mumbojobo talk on future outlook not exciting, that said supply chain issue should not be a continuing issue. Stick with one build, perfect it and build it, quit expanding other vehicles and stick to the original business model. Disappointing numbers in many ways.
Sticking with one build would guarantee the price never comes down. It is next year's build that will cost less to make. I sure am glad YOU are not in charge. Nothing in the video disappointed me, an owner of an all white FUV in Florida. I get so many questions from strangers walking up to me I have to cut them short to get home with my frozen foods.
I hate when they are so vague about financing. Without cash this company will die, so where is it coming from? I really don't think this is an unreasonable question from investors....
The first small factory was called the AMP. The new one with 50,000 unit per year capacity, as featured in this and many recent videos, is called the RAMP. There are many videos that detail the steady growth.
@@popeyegordon The one that will have 250 people working there? For this company to be big, it would need a major shift in how people live. That same major shift might be accomplished via people having no cars at all, and via the rebuilding of cities. This in-between car doesn't seem to have a real big place in society either way. The company might still exist, but it won't take over the four person, fully in-door and more safe with real range car, which makes the company's messaging and ads seem real cheesy, especially the names of the vehicles ("Deliverator"?). People kind of start with fun cars/motorcycles, then move on to the family car, and that's just the way it's been. Will people feel safe putting a baby or child in the back seat? They're way too slow with rolling out the full door option, which makes me think it just isn't even possible due to wind resistance or something. If they thought these hybrid outdoor vehicles would be popular, how cone everyone doesn't own a Jeep Wrangler? That would have been an interesting case study for them to look at. But the last CEO was a joke imo, and that's why he's gone. If Arcimoto succeeds, that would be great. But they had a cheesy CEO with no market sense, and good luck to them now.
@@californiaplant-basedeater2761 Every word of your reply is idiotic and indicative of a poorly educated person. I answered your question honestly and you responded with a litany of lies and hateful ignorance about our responsibility to live more sustainably. And for NO valid reason at all you smeared the CEO who has not had his day in court yet. He brought this company up from a garage prototype and all you can do is shit on him. While you were stealing more than your fair share of resources from future generations, much of the population has been looking for more sustainable transportation and they are fed up with gas prices and extreme weather. Ebike sales hit an all time high recently and there are 5000 deposts for the FUV. Many of you car addicts will not learn until you get a carbon tax bill for your license that you can not possibly afford. Then, only because we forced you to, you will quietly change your behavior. By the way, child seats are not legal in autocycles but they are still as safe as any small car. You can't prove otherwise but owners have followed the trial by fire of the first serious collision with the FUV. He walked away and thanked the company profusely for the safe design before ordering a new replacement Arcimoto.
I have been begging Arcimoto for over a year to sell an FUV to me for over a year. I live a few km north of Seattle in BC but they won’t sell one to me, even if I drove down to Portland and handed them the cash directly. I sold $200,000 with of FUV stock and bought a BMW CE 04 electric scooter instead.
How about finding someone in Washington/Oregon to buy it locally and then just transfer the title? I do not think they are shipping anything out of the country yet and Canada is still 'out of the country.' :) I presume you may have an issue getting it licensed in Canada right now?
@@warrenmansfield9793 No. You are the joke for saying that about a totally unrealistic desire for a vehicle in a country where it is not approved or marketed. If this guy got one he'd constantly be behind on his software upgrades and maintenance. Perhaps dangerously so. The telematics would not work either.
That is complete nonsense and the exact opposite of the situation. Orders far exceed the factory's ability to produce. Only inevitable parts and materials shortages hinder deliveries once the $2,500 downpayment deposit is made. It is currently varying between 3 weeks and 3 months. Not only are all sold in advance, they currently have a 41 unit backlog waiting for parts to complete delivery. And thousands of $100 deposits. All US companies have similar pandemic/war economy limitations now on this level but rough playing field. Why would you lie like that? Not creative, just plain toxic lies that poison the internet a bit more for everyone.
@@seruresto1386 They did not open up for any preorders before the final of 5 prototypes over a 14 year period went into production. As of April of 2021, the latest number I could find in a search, there were 4,574 remaining preorders. A percentage of those are from people living in states Arcimoto has not opened up to sales yet. Only 6 states as of now. Anecdote - I personally talked with a guy who walked up to me when I was parking my FUV. He told me he would order one immediately after seeing mine. He was practically drooling over it.
Mark has been saying 6 per day since last quarter. Unless they only work weekends, that's just not reality. I find it misleading. Now talking about 12 per day? Where? from what money? There's not enough dilution left after the last round. I also no longer believe that Mark cares about saving anything if he's drinking and driving. I only saw a few stories, but that's pretty icky if it's true. Please let me know what I am misunderstanding.
You totally misunderstand the clear difference between having a fully set up, tooled and staffed production line capable of 6 a day, and the actual real world of parts and materials shortages which hold back production equally for all companies in 2022. It is still a level playing field in this global pandemic/war economy, equally challenging for all production businesses.
@@popeyegordon Thank you for your reply. Admittedly, my comment was a bit of a knee jerk reaction to disappointing numbers, continued share price drops and having to dig up the story about the DUI. Personally, I'm still hopeful that I am misinformed about the DUI as it represents a level of irresponsibility that is not acceptable for anyone, let alone a CEO with my money. I don't trust people who drink and drive, period. That's just me. Having paid for the new facility with dilution, I do appreciate the opportunity that it may represent. Still, it's my opinion that they have consistently over promised and under delivered. Supply problems are a vague and common excuse, but they're not trying to get 50,000 semiconductors..... Not sure I believe that is the real problem. Anyway, market's open. I sold my mid term position, but I still have a smaller long term position that I will hold until dust because I do believe in what the company is a whole is trying to do. If production starts to look closer to the 1000 in 2022 that was promised, I'll but more. If the company addresses the DUI and issues an apology, I'll buy more. Til then, it's a small- loooooong hold hail mary position for me.
@@devbomcduck6981 You exhibit a short attention span and if you don't have a degree in business your are just speculating idlely. I'm happy with the company's progress in this pandemic/war economy. I dont give a shit about stocks, I earned every dollar I have and resent the greed of investors who expect something for nothing. This culture ruined the middle class and my own career. Working for a living is the most honorable path. I saved up for 7 years to be able to buy my FUV. That meant 7 years of bicycling in hellish hot Florida to avoid car expenses. If I had profited on stocks to get where I am I could not look in the mirror.
@@popeyegordon Thanks again for your reply. It's 2022; Poor people invest too. You are correct about my lack of an MBA though. I do not have a business degree, but I also worked hard for a long time. I worked 70 hour weeks, and now I don't have to. I believe I have provided more value to society than the money I've earned, but I share your frustration with the many who do not ad value and make a killing. Anyway, I apologize for upsetting you, and for any inaccuracies. I still hold a little, and I am open to hearing any compelling argument for success, or survival or FUV in the coming years. Continue to assume I'm an idiot. What are the positives that I'm overlooking?
@@devbomcduck6981 More evidence to support my stance. "Poor people invest too". My god that's disgusting. They are strugging to keep their families fed. They have to skip paying bills and getting medical care just to survive. Our food banks can't keep up with demand from those who can not even conceive of the idea of having extra money to 'invest'. Many of them got that way because corporations have to underpay their workers and shrink their benefits packages to prop up their stock price and pay dividends. I am here to tell you I was at the company meeting where our CEO told us he was laying off 350 of us and outsourcing our jobs to China because he had to to pay the stock dividends to investors. He had the nerve to look at us and say his criteria for outsourcing was zero dollars. He was not willing to take even one dollar of loss to keep us employed if he could make one dollar more by outsourcing to Asia. Many of us had 10 to 20 years of expertise in the company but he pissed it all away to satisfy investors. That company lost its competitive edge afterwards.
Says only cynical negative money hoarding Republicans and the fossil fuels industry. Meanwhile you take every tax credit you can get and make up even more. Credits for solar, super efficient appliances and insulation have been around for years. You subscribed to this channel and yet you want it to fail? Do you want even hotter summers and more extreme weather?
There is literally almost no demand for the product..... 41 unit backlog? 😂🤣😂. They moved into a bigger and more expensive facility without the demand for the product! This company is DONE..... might get some retail suckers to get it to last longer than it should but ultimately this goes to ZERO..... Bloated company that will NEVER have the demand for how large they have made break even.
Because the FEEL SAFE! That is why this company is a dumpster fire. No one really has the testicular fortitude to break a sweat and bust some knuckles to make it happen.
@@Vytor01 What a bunch of gossiping, back biting old biddies! You deserve each other. Meanwhile, hundreds of satisfied customers like me stopped burning gas to get around. That is the company's vision coming to pass.
@@rogerkinney5412 Hey jackass, the number sold and leased is in the video. At no point has demand dropped, in fact demand keeps rising and they presented charts showing the relationship between butts in seats and orders following a few months later. Stop abusing your account to shit on a great US company that is growing, growing, growing. We all see what an idiot you are with your obvious lies and kid's cartoon emojis.
@@rogerkinney5412 If you were driving one on the street regularly you'd be seeing all the waving, getting many questions (at stop lights and even while in motion in traffic!) of "how much?!", "What is that?!", and "I want one!", and spending an extra 10-15 minutes every time you're parked somewhere talking to people who were interested in learning more and getting one, you'd know how wrong you likely are. Time will tell. They're working on what they need to be working on - improving the vehicle design, pulling down the price, and increasing their ability to manufacture them at scale. We'd all like this to be happening faster (them more than anyone!), but what they're doing is difficult and that difficulty is magnified by pandemic and supply chain challenges as well as access to capital.
ROFL - what money? Mark hasn't sold a single share of his FUV stock since he founded the company and had to be convinced to take an above basic survival salary. Fame? hahaha - I don't think that's something Mark is looking for.
