Electrification is important, however not enough, Arcimoto Inc (NASDAQ: FUV) CEO Mark Frohnmayer stated Friday at Benzinga’s World Small Cap Convention. To resolve the actual downside, it is time to rethink the patterns of mobility.
Arcimoto means “future I drive,” whereas the ticker image “FUV” stands for “enjoyable utility automobile” and is the identify of the corporate’s first automobile.
Frohnmayer informed Benzinga that the world wants extra than simply the electrification of previous concepts of transportation and Arcimoto goals to fill the hole between the bike and the automotive.
The Platform 1 imaginative and prescient is to ship a product that falls into the value vary of a golf cart or ATV, for instance, whereas delivering on the utility wants of the overwhelming majority of on a regular basis journeys, he stated.
Platform 2 is focusing on the ultra-lightweight micro-mobility house, he stated, including that the product will weigh about