Arcimoto

[Rickb]

As long as they're still cranking up units there's hope. It's unfortunate that the cost to build a unit does not allow for a lower price tag they originally promised (12k). EM SOLO is right on with their price at 15.5k, and I'm willing to pay a tad more for a 2seater and/or longer range battery.

I agree. I was surprised and impressed by the Solo’s target to actual MSRP and photos of the fit and finished look, hopefully as good in person. Arcimoto stated production scale will bring the base model closer to the original $11,900 target price, but even a fully optioned FUV is what I consider base.

 

[3wheelin]

I agree. I was surprised and impressed by the Solo’s target to actual MSRP and photos of the fit and finished look, hopefully as good in person. Arcimoto stated production scale will bring the base model closer to the original $11,900 target price, but even a fully optioned FUV is what I consider base.

I sent them an e-mail if there's future options for bigger batteries. I know their Chinese builders are just following EM's specs for the SOLO but creating it with that kind of finish is really impressive for the price. It won't harm for Arcimoto to seek their help in tweaking it's design and/or even build it for them a fully enclosed FUV and bringing the price to the original 11.9k price. If Nimbus One actually meets standards and start selling in Sept at sub- 10k, that'll really put Arcimoto on edge.

 

[RSchneider]

The problem is people criticize and choose to state negative personal opinion with out knowing the facts as to why the decisions were made to begin with.

I just go by what the company tells me. Maybe what they put in print is not correct. For example, back when they were going for their IPO, they stated this:

Even if we successfully raise $10,000,000 from this offering, we estimate that we will need to raise an additional $18 million within 15 months to reach our vehicle production goals and to be operationally cash flow positive.

The reality is, they raised $19.5M. In excess of what they were planning. They ended up with an extra $9.5M thus only needed another $8.5M. Yet they raised another $20M in convertible notes, $12M with the stock split and $6M loan. That's an extra $38M from what their plans were.

As it is, could have continued assembling 6 units per day in the AMP 1,

Yes. With the RAMP, they are at just below 2 units per day. This is assuming 48 weeks of production and their 4 day work week for all of 2022.

It's unfortunate that the cost to build a unit does not allow for a lower price tag they originally promised (12k).

A few other things that the promised back when they did their IPO:
- Extended range battery pack (20kWh) for a 130 mile range
- Full HVAC
- Arcimoto app for your phone
- Adventurer: The base model SRK, our open-air vehicle is perfect for everyday use in mild and warm climates, or year-round in less forgiving climates for the brave and appropriately attire
deal domestically for urban commutes, cart communities, or as a get-around towed behind the RV, the Adventurer will also be an appealing solution for emerging third world cities that are currently crowded with noisy and polluting two-stroke motorcycles and tuk tuks.
- Transporter: Adding the hard-panel enclosure and extended range battery pack greatly expands the utility of the SRK in colder climates, sprawling cities, and rural environments.
- GoGoMoto: The lowest cost, most efficient “last mile” autonomous solution for the future. We imagine urban center transportation needs being served by small-form, ultra-efficient driverless SRKs: the most appropriately designed machine for moving people in congested city centers. Our current design concepts will be compatible with designated thoroughfares and future transportation network fleets. Our base model will be capable of taking drive/brake/steer commands from 3rd party hardware/software autonomous package solutions.
- Hard Shell: Panel enclosure
- Soft Shell: Panel enclosure

a new startup company

Remember, this company was founded in 2007, made 8 iterations, raised $19.5M with an IPO in 2017 and started production in 2019. At what point, are they not considered a new startup?

 

[Rickb]

I just go by what the company tells me. Maybe what they put in print is not correct. For example, back when they were going for their IPO, they stated this:


The reality is, they raised $19.5M. In excess of what they were planning. They ended up with an extra $9.5M thus only needed another $8.5M. Yet they raised another $20M in convertible notes, $12M with the stock split and $6M loan. That's an extra $38M from what their plans were.



Yes. With the RAMP, they are at just below 2 units per day. This is assuming 48 weeks of production and their 4 day work week for all of 2022.


A few other things that the promised back when they did their IPO:
- Extended range battery pack (20kWh) for a 130 mile range
- Full HVAC
- Arcimoto app for your phone
- Adventurer: The base model SRK, our open-air vehicle is perfect for everyday use in mild and warm climates, or year-round in less forgiving climates for the brave and appropriately attire
deal domestically for urban commutes, cart communities, or as a get-around towed behind the RV, the Adventurer will also be an appealing solution for emerging third world cities that are currently crowded with noisy and polluting two-stroke motorcycles and tuk tuks.
- Transporter: Adding the hard-panel enclosure and extended range battery pack greatly expands the utility of the SRK in colder climates, sprawling cities, and rural environments.
- GoGoMoto: The lowest cost, most efficient “last mile” autonomous solution for the future. We imagine urban center transportation needs being served by small-form, ultra-efficient driverless SRKs: the most appropriately designed machine for moving people in congested city centers. Our current design concepts will be compatible with designated thoroughfares and future transportation network fleets. Our base model will be capable of taking drive/brake/steer commands from 3rd party hardware/software autonomous package solutions.
- Hard Shell: Panel enclosure
- Soft Shell: Panel enclosure


Remember, this company was founded in 2007, made 8 iterations, raised $19.5M with an IPO in 2017 and started production in 2019. At what point, are they not considered a new startup?

Little reason to debate the privately funded 2007 “startup‘s“ business model after their production start in 2019. I don’t think a business “starts up“ until they have a service or product to sell. Does it really matter that I think Arcimoto’s 2007 business start didn’t really start UP until they crossed the production finish line with an actual product to sell? My personal issue with Arcimoto is the lack of a marketed full enclosure option, the only reason I had interest in the new startups concept SRK - FUV Back in 2008. It’s currently a niche market electric, open air, three wheeler motorcycle with added safety features, that I have no interest in until if/when it’s fully enclosed.

 

[RSchneider]

So, we just call companies a "new startup" no matter how long they have been making a product. Tesla is a new startup then.

Then when Arcimoto decided to go public, their specs of the 130 mile battery, full HVAC and hard shell enclosure, were never really going to happen, it was just a dream of what could happen. The CEO admitted that it was going to be a design change to get to that hard panel enclosure. No mention of full HVAC, Arcimoto App and 130 mile range. We seem to just forget things like I mentioned yet still believe in the $11,900 MSRP will still happen. Why is that?

Yet Arcimoto decided to scrap those ideas, buy Tilting Motor Works and make a three wheeled E-Bike. TMW loses money and the e-bike has been shelved. Maybe spend the money on what you sold everyone on, not side projects. This is like Elio. Lets raise $16M and spend it on a complete chassis design change (which was a big surprise to everyone), use the rest to build two prototypes and pay off debt. Those 23 other prototypes never happened.

I feel that Arcimoto would be much further along if they would have stuck to the business plan. Yet they didn't and here we sit. Another struggling three wheeler company. Go read their initial proposal back in 2017 and you'll see. They just went off course.

 

[Rickb]

Whatever. Personal interpretation: A new business starts up the day it starts selling and delivering a service or product. The very next day it’s a new business struggling to stay in business. It appears Arcimoto‘s business plan changed, but we don’t have a clue regarding their day to day operations, and what forced them to make those changes along the way. Elio had a plan….Vaporware. BEX‘s plan to build a three wheeler prototype, a work in progress. I had planned on taking delivery of a fully enclosed three wheeler years ago. My plans have changed too.

 

[RSchneider]

Arcimoto had a plan. Just look at the SEC filings. They explain it in great detail. Thing is, just like Elio, the plan laid forth, was not followed. Thus Arcimoto finally made it to selling a production unit yet is losing their shirt on every product that goes out the door. They are not to the point where the product can just run and they make money thus can work on the next product or the FUV 2.0. Elio had a plan and decided to not go with it due to all of the money they owed. Thus the money they got did not go to finishing the product, just paying back old loans and redesigning the product.

Arcimoto needs to redesign the product to accommodate the hard shell enclosure they told us about back in 2017. They also need that 130 mile battery pack and full HVAC. Yet, here we are where they never crossed the design finish line. It was a force to manufacture so they can start selling a product no matter what. Now they are paying the price. At least Elio just went belly up before delivering a substandard product.

 

[Rickb]

Arcimoto had a plan. Just look at the SEC filings. They explain it in great detail. Thing is, just like Elio, the plan laid forth, was not followed. Thus Arcimoto finally made it to selling a production unit yet is losing their shirt on every product that goes out the door. They are not to the point where the product can just run and they make money thus can work on the next product or the FUV 2.0. Elio had a plan and decided to not go with it due to all of the money they owed. Thus the money they got did not go to finishing the product, just paying back old loans and redesigning the product.

Arcimoto needs to redesign the product to accommodate the hard shell enclosure they told us about back in 2017. They also need that 130 mile battery pack and full HVAC. Yet, here we are where they never crossed the design finish line. It was a force to manufacture so they can start selling a product no matter what. Now they are paying the price. At least Elio just went belly up before delivering a substandard product.

Again, your armchair analysis and opinion of Arcimoto quarterly updates. It’s typical that a company loses money on the production vehicle roll out until scaled production numbers lowers cost and increases profitability. Rivian is losing thousands on every vehicle sold. Also,Tesla back in 2015. BEX and Vanderhall could be the exceptions, but no plans or financial statements available to armchair analyze.

Arcimoto was partnering with Munro and Asoociates on the FUV 1.x and engineering for manufacturing efficiency. No idea if that’s an ongoing partnership or not.

:

 

[Mark BEX]

. Now they are paying the price.

Let me fix that for you:

"Now the investors are paying the price".

 

[Rickb]

Let me fix that for you:

"Now the investors are paying the price".

Arcimoto is taking both the investors and FUV owners on a thrill ride. Arcimoto expanded regional sales and service to 4 new States.