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Arcimoto, after spending $11M in 2018, builds customer queue

Pete Danko
Arcimoto, after spending $11M in 2018, builds customer queue

Arcimoto Inc. showed signs of generating revenue in the first quarter of 2019 after plowing around $11 million last year into gearing up production at its Eugene electric vehicle plant. The company (Nasdaq: FUV) released its first full-year annual report as a publicly traded company on Friday, and a first-quarter video update on Monday. Arcimoto said it quickly filled a queue of 100 reservations — each coming with a $5,000 nonrefundable deposit — for its initial retail model, the $19,900 FUV Evergreen Edition that was unveiled in early February for customers in West Coast states.