Arcimoto Inc (NASDAQ: FUV) Certain States Reclassify Driving Requirements

Arcimoto Inc (NASDAQ: FUV), the maker of affordable, fun, and ultra-efficient electric vehicle, stated that certain states had reclassified the driving requirement for the next generation, which they believe will remove hurdles in driving.

Allowing drivers to operate with a standard license: As per the company, Florida, Hawaii, and Louisiana have classified the driving requirement for the next-generations drivers, which helps the drivers to operate the FUV, Deliverator, and Rapid Responder with a standard driving license. The new requirements indicate there is no need for the motorcycle endorsement. The reclassification also removes an unnecessary hurdle for own and rents an FUV that is stable by design. In addition, the FUV requires no special skills to operate and can be quickly learned.

Rental presence to increase: With the reclassification of the driving license for the next generation, Arcimoto Inc is expected to increase its rental presence in all the tourist destinations in Florida, Hawaii, and Louisiana. The significant presence is likely to provide zero-emission alternatives to gas-powered motorcycles, CO2-emitting scooters, and three-wheelers. As per the company, the rental experience of an electric vehicle is expected to make a meaningful impact on air quality and car emissions and help the drivers with the joyful electric ride on the usually busy road. 

The changes in Hawaii and Florida have come into effect from June 30 and July 1, respectively. The changes in Louisiana are expected to come into effect from August 1, 2021. The changes apply to Arcimoto electric vehicles with two front wheels, one rear wheel, a roof, which meets the automotive standard for roof crush, a seatbelt harness system, and full seats. The reclassification is only for the existing cars. It does not apply to the company’s upcoming Arcimoto Roadster (open-air), which will require motorcycle endorsement to operate on the roads. As per the company, they are expected to open the stores or provide their services in other states. The company currently sells in Orgon, California, Florida, and Washington.

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