What happened to Arcimoto?

Note from Jim: I fell in love with the company and technology and shared many stories over the years about their journey. I even bought stock. It looks like my investment is gone. Other than the normal disclosure about the SOBJ should not be used for investment advice, based on my track record you should never, ever invest in a company based on anything I write about it, especially if I love the company. Below is a copy and paste of different stories I found on the web about the spiral at Arcimoto. I do not have anything official from them. I am a member on Facebook of a couple of Arcimoto pages and the members do an amazing job keeping the community informed and supported in the wake of this sad news. I also noticed several Arcimoto’s on Facebook Marketplace as soon as the auction happened. It seems to be the final straw for some.

FUV or now FUVV is the stock symbol for Arcimoto, Inc., a company that designs, manufactures, and sells electric vehicles. As of May 1, 2024, Arcimoto’s stock price was $0.4000, with a 52-week range of $0.3800–$1.8500. However, as of July 7, 2024, MarketWatch reported that Arcimoto’s stock performance was down about 88% from the previous year.

on July 8, 2024 I took the screen shot from Yahoo you see above. It’s down 99% and trading at .12 a share.

Oregon Business reports on April 4, 2024

Arcimoto ordered to pay Wilsonville manufacturer $1M

Eugene-based green automaker Arcimoto was dealt another blow last week as it was ordered to pay a former business partner $1 million, the Portland Business Journal reported Monday. 

It’s the latest in a string of setbacks for the former EV darling once valued at a billion dollars. 

Read the rest of the story at https://oregonbusiness.com/arcimoto-ordered-to-pay-wilsonville-manufacturer-1m/

OPB reports on May 23, 2024

Arcimoto shuts down its phone service and website, as some customers feel left in the dark

The Eugene vehicle manufacturer Arcimoto appears to have suspended some of its services.

Arcimoto sells electric, light-weight vehicles with three wheels. However, the company has faced financial difficulties in recent years.

This month, it was delisted from the NASDAQ, and MarketWatch reports that its stock performance is down around 88% from a year ago. The company’s also been ordered to pay $1 million in a recent lawsuit, according to Oregon Business.

As of Wednesday, the company’s website was down, and its main phone line appeared to be disconnected.

Read the rest of the story at https://www.opb.org/article/2024/05/23/arcimoto-eugene-oregon-operations/

May 30, 2024 KEZI reports

Arcimoto to remain open despite lawsuits, CEO says

Arcimoto is facing another lawsuit, but despite their struggles, the company plans to stay, according to the CEO.

This week, finance and leasing company Sumitomo Mitsui filed a lawsuit against Arcimoto for $600,000 and the return of a vertical machining center and a milling machine that Arcimoto leased in 2018. The company has allegedly failed to make their monthly payment for the machinery since November.

Watch and read the full story at https://www.kezi.com/news/arcimoto-to-remain-open-despite-lawsuits-ceo-says/article_ae010bc6-1ee2-11ef-9fbd-6bbe6351fdc4.html

Portland Business Journal reported on June 4, 2024

Arcimoto puts Eugene factory equipment up for auction

The Fun Utility Vehicle maker’s status and plans have been murky at best for months.

Read the full story (paywall) at https://www.bizjournals.com/portland/news/2024/06/04/arcimoto-auctioning-of-factory-equipment.html

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