#7 - Arcimoto (NASDAQ:FUV)
Arcimoto (NASDAQ:FUV) combines a couple of compelling narratives in the EV sector. Arcimoto’s Fun Utility Vehicle (FUV) is another autocycle. Except unlike Electrameccanica Vehicles, the FUN is an autocycle built for two. In addition to its passenger vehicle, Arcimoto has two additional models. The Rapid Responder model is for security, emergency, and law enforcement services. The Deliverator is for last-mile service.
There are a couple of compelling reasons to consider FUV stock. The first is that the company is partnering with REEFDrive to offer a rental program. The rollout will be in Santa Monica, California. Renting the vehicle for an hour will cost about $15 which will be within the range of most consumers.
Plus, many prospective customers may not even have to worry about the tax credit as the price of a vehicle is currently around $18,000 and may go lower as the company scales its production.
About Arcimoto
Arcimoto, Inc designs, develops, manufactures, sells, and rents three-wheeled electric vehicles in the United States. Its flagship product is the Fun Utility Vehicle (FUV) use for everyday consumer trips. The company also provides Deliverator, an electric last-mile delivery solution to get goods where they need to go; TRiO, a bolt on kit that converts a two wheeled motorcycle into a tilting three wheeled motorcycle; and Arcimoto Flatbed, a prototype that eschews the rear seat.
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The potential tax credit for individual consumers may provide some temporary juice to the EV market. But the momentum has been building for over 20 years. Two of the key obstacles in the way of mass adoption are the lack of nationwide charging infrastructure and battery technology that keeps the price of building an EV more expensive than its internal combustion equivalent.
Those are larger issues that are being worked on in parallel with the production of electric vehicles. Many investors have been burned by the words, “this time it’s different.” However, this time it may very well be different. The growth won’t come overnight. But it does appear that the industry has reached a tipping point and it’s not going backward.
Now is the time to do your due diligence and find the EV stocks that you find the most appealing. However, the seven EV stocks in this presentation look like ideal candidates to be part of the growing EV sector.
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