Arcimoto Announces Second FUV Hub Rental Location To Open In San Diego

Arcimoto, Inc.® (NASDAQ: FUV) — makers of the Fun Utility Vehicle® (FUV) — an affordable, joyful, pure electric vehicle for everyday drivers and fleets, announced today that it plans to open its second FUV Hub rental location in downtown San Diego in the coming months.

The 4,500 square-foot facility, located at 630 Tenth Avenue and equipped with 40 Level 2 chargers, will serve mainly as a showroom, rental center, and a central charging station for electric bikes, scooters, cars, as well as FUVs. Arcimoto plans to operate the FUV Hub jointly with San Diego-based partner HULA Holdings.

“Even as a national leader in EV adoption, downtown San Diego still faces challenges in reducing congestion, lowering transportation emissions, and improving parking,” said HULA Co-Founder Peder Norby, former San Diego County planning commissioner. “We believe the FUV Hub San Diego will allow us to attack these problems head on with a central charging station for not only FUVs, but for all electric vehicles. Simply drive in, plug in, and go play in beautiful coastal San Diego.”

“The new FUV Hub San Diego is an excellent test case for Arcimoto and our commitment to sustainable transportation in both urban and destination markets,” said Mark Frohnmayer, Arcimoto President and CEO. “We believe that for working professionals and tourists visiting downtown San Diego, the FUV Hub will provide access to clean EVs to rent by the day or the hour, helping to eliminate the need for polluting vehicles in the beating heart of America’s Finest City.”

HULA CEO Angus Clark added, “Making America’s Finest City even greener through the efficient use of FUVs should set a high aspirational bar for other cities to emulate and duplicate. We are excited to be able to bring this service to the downtown community and look forward to offering our vision for a sustainable future in San Diego.”

The Arcimoto FUV HUB San Diego is expected to open in the coming months, and will be located at 630 Tenth Avenue, San Diego, CA, 92101.

About Arcimoto, Inc.

Headquartered and manufactured in Eugene, Oregon, Arcimoto, Inc. (NASDAQ: FUV) is devising new technologies and patterns of mobility that together raise the bar for environmental efficiency, footprint and affordability. Available for pre-order today, Arcimoto’s Fun Utility Vehicle is one of the lightest, most affordable, and most appropriate electric vehicles suitable for the daily driver. For more information please visit www.arcimoto.com.

About HULA Holdings, Inc.

HULA Holdings, Inc. owns and operates DC Fast-Charging stations in Southern California, located at leading hotel properties from Santa Barbara to San Diego. Since 2011, HULA charging stations have provided electric vehicle owners safe, convenient and affordable energy while providing ample amenities at their host site locations. HULA is an acronym for High Utilization Local Access and will also be testing autonomous mobility vehicles in the near future. HULA’s not-for-profit subsidiary, Corridor Power, is building the country’s first full-service, multi-protocol, Electric Mobility Center in San Diego (Encinitas), California with support from the California Energy Commission and the Center for Sustainable Energy. For more information please visit www.hihula.com.

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Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements could be affected by risks and uncertainties related to, among other things: our ability to effectively execute on our developing growth strategy; our ability to manage the distribution channels for our products, including our ability to successfully implement our direct to consumer distribution strategy and any additional distribution strategies we may deem appropriate; our ability to design, manufacture and market vehicle models cost effectively and within projected timeframes; the number of reservations and cancellations for our vehicles and the ability to deliver on those reservations; changes in consumer demand for, and acceptance of, our products; our reliance on key personnel; changes in the competitive environment, including adoption of technologies and products that compete with our products; the overall strength and stability of general economic conditions and of the automotive industry more specifically; fluctuations in our financial results; and changes in laws or regulations governing our business and operations. Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation to update any forward-looking statements.

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