Now Playing:

News

Transportation | local | Economy | Business | News

Eugene-Based EV Maker Arcimoto Raises Nearly 20M In IPO


Arcimoto, a Eugene-based electric vehicle company, will set up its 30,000-square-foot production space on 3.5 acres at a yet-to-be-disclosed location in west Eugene. The company's goal is to build at least 10,000 vehicles in 2019.

Arcimoto, a Eugene-based electric vehicle company, will set up its 30,000-square-foot production space on 3.5 acres at a yet-to-be-disclosed location in west Eugene. The company’s goal is to build at least 10,000 vehicles in 2019.

Arcimoto/The Register-Guard

Arcimoto, a Eugene-based electric vehicle company, raised about $19.5 million in its recent initial public offering, putting it on track to deliver its first vehicles to customers this year and to boost production and employment next year in its newly leased west Eugene factory, founder Mark Frohnmayer said Tuesday.

He said the company has the potential to employ hundreds of workers by 2019.

Having raised at least $6 million and met other requirements, Arcimoto will be listed on the Nasdaq exchange, Frohnmayer said. Shares are to start trading Thursday at 8:30 a.m.

Final tallies of how many shares were sold and how much money was raised will be available Thursday morning, Frohnmayer said.

Read more at The Register-Guard.

 

Arcimoto electric vehicles Oregon

More News

More OPB

OPB has updated its privacy policy. You can find details here.

Related Content