Electric vehicle company Arcimoto IPO raises about $19.5 million; plans to boost production and jobs

Electric vehicle company Arcimoto IPO raises about $19.5 million; plans to boost production and jobs

Arcimoto, a Eugene-based electric vehicle company, raised about $19.5 million in its recent initial public offering, enabling it to deliver its first vehicles to customers this year and to boost production and employment next year in a new leased factory in west Eugene, founder Mark Frohnmayer said Tuesday. Arcimoto also has met requirements to be listed on the Nasdaq exchange, and shares are set to start trading on Thursday morning, he said. The money raised provides a much needed shot in the arm for the start-up, which has orders for its unusual three-wheeled vehicles, but has not yet produced […]