FUV - Earnings call transcript Q4 2021

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Eric Fritz

Welcome back, Mark.

Mark Frohnmayer

Thank you. Technical difficulties. Well, are we -- we're live? Are we rolling here?

Eric Fritz

We are.

rolling. and live are We Yes.

Mark Frohnmayer

It of Excellent. In Arcimoto's to We'll forum welcome members to stakeholders our analysts executive last questions to the want the month. with introduce on we event case, stakeholder of webinar I then Ramp and from first platform. some video from going short share to factory of opening a that everybody recap held team, that the Up! XXXX. start remarks, and short one new our the same open We're guest

not that Up some more and have it recap for. time this good you you at seen I watch advances doors, including, -- If doesn't the have a full It to is stuff presentation, bunch Ramp your of There leisure. technology encourage different

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Eric Fritz

should You good. be

Mark Frohnmayer

Yeah, here remember buttons All to through. that area. Coming I click right again. Always going it. go. the see we do I'm

Unidentified Company Representative

Arcimoto, We the on ramp. and Frohnmayer. and in, Ladies new to gentlemen, into Mark of an Come of folks. President go are building going the founder the

Mark Frohnmayer

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Unidentified Company Representative 2

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Mark Frohnmayer

The includes be of e-bike new a which and plan a solutions. now, range Available of mobility electronics, pre the design MLM before including platform the a call Arcimoto's no for class. for an vehicle micro end -order market the micro before class future other, new vehicle co-packaged of MLM features to this is cylindrical into like in the of we seen drive, technology heart cell never MLM the launch battery will year. suitable At we wide a

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anticipating a For stakeholders to I'm approach. think strategy about here tiered our

range. look and $X you e-bike the today, the up you if very premium in marketplace So at thousand e-bikes have

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this just you platform the MLM So that already to -- as boost potential the to a perspective, this from the FUV financial thinking think a numbers about going is we start we of family. be big is see significant

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we should $XXX,XXX-$XXX,XXX potential for Lean revenue For the that same Machine. the of in amount material, Mean

that And up financing, the So regularly big for win comes is speaking stakeholders. win planet, bottom line. big our for a the for of topic this

really ATM including value microcap DOE vehicles, this for financing that real what estate have I've grow with right finally, the solution services job. not assembled strategic us help be a includes conditions the our great without fund to continues backstop we're business phase team, that to plug deals our production Kevin, are next my It to That capital fully a this the rental it excess lead hires front scale, of to and of facility our growth for building of tackle I tools Key most favorable two partners. far plan Arcimoto for path effort. fleet executive us the that And the extraordinary XX Also, in will I build-out being And and and this until lets process, development look expenditures. that For soon. team the us have forward to note, then incrementally, then will financed the big when is toxic then for years, opportunistic entangling said, that for confidence is long-term proper for ramp on last spend land market. also in Canaccord to in more we financing, over targeting holistic right This does year. of is a has sharing And we calling the time the approach. investors, in been equity start its to the we turn top-level Arcimoto think ahead.

team the For to that the they're start give updates, to going the leading. stakeholder in rotating added color of on we're new members areas executive

Operations stakeholders. introduce new And so our today, I would Kevin strategy, like O'Rourke. to our Kevin, Commercial VP meet of and

Kevin O'Rourke

automotive Mark. And different to you, and you stakeholders decrease many has costs more field. potential the joined in us out focus my been XX importantly, five helping My their all assets for the fleet years Thank have of of their thank arenas. in last comes in that the here on this the operators, years, But the maximize afternoon. industry experience

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back to So it you. Mark, turn over I

Mark Frohnmayer

Terry Officer, been Officer, introduce have you Jesse Chief have Fritz, that making man, it's those with who order, a the Marketing have you email our a Eric to Strategy Q&A long you Becker, will Operating our Chief that offer our stakeholders Kevin, Officer, on a to for into the following came questions you a us those also Douglas our like who the Chief and a team analyst on bring world would -- are here time. -- We're for so you and -- universe and great all of take for panel, few our to Know of rest call, executive live. over on today be Campoli, Financial been and going the then Chief our those and get in fold. very team, Officer. into will rest who the we're going And of onboard. part that's the very our say and are analyst Thanks, to dent panelists, good along the and you of that to you've short in in investor@arcimoto.com, we future please would in panelists from I Street Wall bring who Fittipaldi, of I

Eric Fritz

at Already a here. few rolling What challenges greatest to see to looking say, get scale up the questions let's as do mass production? you

Mark Frohnmayer

then production And For better mass we contributions is to me, -- way ever-growing that together point to the we team I the pleased of the a we you're batteries just and that play and everything be turvy our incredibly I role a challenge that develop piece to talked to add like right? scale supply size ongoing probably support the series continuing products challenge bring is has vantage say actually required we're you've and tackle that's this for the service And in but first about I'm one me to then that guess what the market to bit out and confidence then them topsy or production talent gives about a or And the biggest got. negative leadership, And continue production. accelerating the their to you -- piece of network then are -- getting I bring cranking we're going layer cutting-edge a up then earlier on even in the and there getting Terry at -- of sometimes logistics Geopolitics on growing continue customers, is that to from goal. out I onto the of refine would very them onboard. building operation then of to together What which super better problem. that to focus would when say my the else them of production at, depending And next together there's into as chips several working So is venture. able work process, production facing that hit that, ways, of scaling an presence years, build continuing place. all is to culture, that's looking -- of that, door, terms in then individual our on talked chain on and about the things our little in lot both

but challenges, big leadership it are those culture of with starts All process.

Eric Fritz

can the until long sub prices? FUV sold XXK at How be

Mark Frohnmayer

sub no of capacity. capacity XXXX for are targeted model have the we XXK which this, where I maximum ramp, output is We to kind that targeting of is say wait. at when entry-level we output would full are price that based need

of bucks worth delayed You're talking thousand of Not joy. about a few couple versus it. years

Eric Fritz

network. other Tesla said they chargers? use Arcimoto be will be use able providers to charging their letting Will Tesla

Mark Frohnmayer

customers for. This is actually our asked something a that number have of

-- have of Tesla many We our are early customers. also adopters

look be And so as home-charging add program, to same at would able looking sense charging they capacity to the FUV. to we're makes us, to of that a we X.X plugs. share the then And lot higher much it able being at the

of do charge, it's just relationship So then matter fast that be of at building -- sense. a DC to a it you a happen. business make more the make would point would that of And lot can that

in So favor. we're strongly

of has of very a like the Tesla in would And a an support They've puzzle piece and charging Network the really done and we that's building terms planning. it's to be something absolutely job and made easy that think out that covers part world. simple I elegant outstanding trip of. to use

Eric Fritz

expand in in build America plans or Are type factories vehicles there where India China or extremely any Motor are popular? to

Mark Frohnmayer

that so Business and And makes We Chief distribution, market. crowded year, with is Arcimoto high last that of on Sundaram, dense think vehicles about this later streets who Asia, got vehicles. already year, as Yeah. make smaller-form you've building, well. Europe hired see we're of those markets the awesome in we as for whether production It interesting and Officer the about talking we super the Southeast world or I not adoption International you're we'll think platforms some build We sense, ultimately that category cities to our just for stuff have ton and Dilip talk but a front. are

Eric Fritz

new rolling what ramp expected the next year? start will into the And When units? by QX, out output QX, is and

Mark Frohnmayer

has units. -- output actually ramp already new we So

are of the and move RX done, two over will of production very pieces to ramp expect and constrained keeping new modules. validation over QX's that battery that modules that We that are validation second, The -- of that almost the then in the we new shift was that the is done, early QX. the is

we the out begin up. -- be So modules I XXth at point April the target internal today. door, rolling are starting slow and to be production new for will it But that believe cranking is again, the

are last we XXX of guidance we quarter-by-quarter is are giving as did given and so production which Doug, not not on year, year, on in right? the this but units tripling have video, that production I guidance year, We said planning this we're is basically

Douglas Campoli

correct. that's Yes,

Mark Frohnmayer

right. All

break we So unlocks our get in scale to X.X four digits want we steps what on be then road, going the forward. big as into to that's 'XX, and

for a XX. to year, this year, by capacity of So next maximum up aiming XX

Eric Fritz

the that's referring assume Mean will to launch? project I the new Lean When And Machine.

Mark Frohnmayer

we're round think of with official for and signature that And as I Machine. next we my launch be When version would well. units very a of year series of prototypes, sale of end what Lean the We're I assumption of will Mean first the the That again, product. you you start understand targeting with likely we're would the to doing why. what show call the

Eric Fritz

you do When on getting doors windows? plan with

Mark Frohnmayer

a event in Up with the It So at form we actually doors showed different prototype few varieties. Ramp of windows

-- the current we may look for will those into built which the platform, to out production. we're products And some And make X.X, different few a as of of the have more as then gate. option on windows those approaches FUV an or one testing it

Eric Fritz

patents, assembly, you large Arcimoto on an of batteries, to could Can opportunity our other this do being Between financial and new see other growth how general in-depth accelerating an go license you manufacturers. how and technology its stability?

Mark Frohnmayer

Arcimoto by few adoption part to a realm, of companies, piece even research the Arcimoto institutions, all in that who vehicles interested are of effort. we of sort so platform other really of driving about one that enthusiast experimental initiative could pieces people really is making the are the The with There Ramp by this. that platform be into license new a of that it we're goes automated with both end the the DW explore at entered The was both agreement the the up those that cell developing presentation with that line actual cylindrical Fritz production pack the the battery teased to design have batteries. really of architecture building and into we pairing along

that out. still share on mobility exploring and to real all a later will new way vehicles. will that the this anything more And to be a get that so we're we production it lot for topic into expect what because get of up industry-leading it devices large has we've from truly And is see that, on very as we the first our own I our really pack work that solution that potential architecture lot micro application likely exploration having the we to have be piece but And have, got do of year. will that to prove an

Eric Fritz

loan Where expect do when is our the decision? [Indiscernible] you in process ATVM and a

Mark Frohnmayer

scale. really part couple pieces, is approach as continued of I shifting to And think today ATVM that of of fully big, are bring is and fund which the What expensive it's program one you on section, I the can business plan add of to The there is together Jesse, see that. a until refine We to with and holistic really year a Munro, next we what that As financing mentioned one little color of is coming really the bit in. the that -- are putting have Rockstar we in this, a to lot cost beyond of challenge a pieces meant

Jesse Fittipaldi

can I you think handle it, Mark.

Mark Frohnmayer

That patient. been not our -- analysts not say additional perfect. the All that let's as -- Well, color. very OG take right, have I'll the

Let's bring them on.

Eric Fritz

they so know [Indiscernible] You want them on Mark to call

Mark Frohnmayer

-- of a We Campbell. did that got were -- I right. folks somehow? Well, we Barry get all get -- they were dialing Mike think Sine, they there there -- Is who were couple Jeff Shlisky, booted did are in,

Eric Fritz

If or Irwin Jim in know. chat, we have Craig, let McIlree the somewhere us

Mark Frohnmayer

here why Jeff for complete you joined You All you. out our Well, ready? we Hollywood start camera came Barry right. are us since with right. Ramp up, Squares it and are. All your if you don't can

Barry Sine

to squeeze Either Brady questions, bunch like can two it's Timeline in, layout. was have I say going I I more please. if a way,

dozens program, and and one Think there's Ramp One attitude. well. talk revenue, that you've of five today, of then and a locations partners was of just you've heard much the too a talk you the people, things will didn't Arcimoto rental our I cars. give talked two up a things said intended rental And you about company-owned was that quite the bit to able you great pun and I to stream want as rental about of that recurring program to

in that terms 'XX. we significant more generation of in could So and about talk that a revenue and 'XX how might of that bit be

Mark Frohnmayer

or would rentals up to is or I say I rental and -- either the the Well. us company think eight stores for first market. partners in goal now we're

solar buy. sort it purchase. everybody intended. almost lot California, of Those that's Hawaii, term, user is to targeting and a But to rentals brand experience typical here is much but this we're everyone store it not believe no a profitable. willing you've manufacturer. -- but of you're going May and goal get the purchasing first ultimately online we into for stores. unlock before got to let for pun been model long Hawaii, provide us and is that model about stores at for user -- comes a for Tesla then real break for almost great We that Southern the a think a vehicle just I a of of new soon. are have vehicle, every, of try to way you Whether requirement it actually to beautiful beachhead cost is coming places, try a Rivian lease an then enjoy and Hawaii And traditional pretty are mean, or motor has even actually the a try day, talking in That away wants to Florida. the they then money become to rentals. The really stores sales and our people in automotive Lucid vehicle before of awareness sink actually very place X, markets, to company first-time pioneer and actually I here, both franchise

never -- back either out putting other see you're a chunk you're road, you so the why are awareness first being, turn a CapEx OpEx the on margin drive that rental of scenarios, into than we of is is sale is and those we of the don't that goal So And putting out of piece vehicle. center? lot is comes in or parts pieces business of model -- a for are our and that third seats, We then business. profit that and next the profitability

Barry Sine

profitability margin. the getting please. one just more, And -- can squeeze if The gross a starts positive with I in

that wanted that maybe There's was of spend I team. little about. about Munro Sandy I you to things bit. wondering Ramp And his and a event, able and time At So about lot upon with expand I'm talked guys quality you've see to couple the of a vehicle It a Up designs. that talk

thing look come there's but line, I a firsthand at assembly automation. with get second the was and to more new The is, to able

you goods that the cost as So cost put talked more part, getting the line, be Doug, automating part, depreciation. that volume the third assembly, big always of and would sold volume numbers to second part, fixed is of the the about you've a unit

gross depository like there's key would of that in be EBITDA then to and the EPS. you to please? Could and seems to lot margin it positive talk getting a then get that drivers place So about

Mark Frohnmayer

Yeah and think the I that. to I Barry would one add

that But mass stage, So hertz bill -- as And optimization. program method. production assembly what's mean, of vehicle. battery, of that's out the the is that's we electronics, is the in about. chunk at X.X But the big look -- cost what have materials we it's the ultimately, that and -- simplification production to it's like sort the really it's then majority our the vehicle a we in really of design today motors. it's is the and all things the move that's as is -- change of volume, material then -- chassis I

ultimately the it's big core first will really of automation simplification those step driving deposit components push be of and that the platform margins. the So the in

commercial or automotive those Arcimoto we look intermediary lower able is piece what go as on what in of tools into consumer cost become stretch. the adopters delivery truck business think are we higher offerings, that that story at that of we're total opportunity than put then even be of as for our the where, of a year, cost at family. our to that the by the work let sort terms solutions. And of versus we why start rather my you particularly really than to other is ownership, on The I dramatically CapEx. higher FEV a to a whatever. solution to next the the going retail part going that commercial of doing or fleet adopt of but the is actually -- that is this it businesses vehicles that's and deliver OpEx also And actually very is Then offerings think as pricing a van with big a monthly they're an think structure Kevin that's when price, And I good team that a growing look in you place and a

Barry Sine

questions. else Okay. Thank you. ask I'll let somebody

Mark Frohnmayer

Mike.

Mike Schlonsky

could Everybody how outlook you this Hello, the Any on the are margin are [Indiscernible] start a you? give Mark. maybe appreciated. else, outlook with cash kind just you for So How year for us I grown you've how question would much of the be can year. feedback off doing?

Mark Frohnmayer

Alright.

over a swing look will see we at next the XX preface XX the that is Doug, and you at I over to company. just We with, look get what take terms ballparks, to at want So as the rate I -- of say on million XXX to total CapEx. it run we as want that looked to in that the positive months in In we've bulk of being the what of one? months spend at,

I -- in as So even puzzle, development consider been -- we the I we the and us don't that the future. we're is at And on all But but pieces peak don't consider think that's people different -- number has that get at spending performance, us I positive we -- a would team that the holistic we the look execute that of for run get on that landing that's investing this actually burn the we consider if gets to executing company. well, and that financing believe on. that of rate

that's Now, there and will that but that, additional milestone. investment a near-term happens after be scaling significant

Terry Becker

outlook cash-flow not that It's far saw be of XXXX XXX suggesting me was your in on that would is that that a good lost XXXX Was as as for positive? level production.

Mark Frohnmayer

That's is I think recall that's in I if what our Doug, -- right? our we K, that put is goal. And correctly. that

Douglas Campoli

And the about. that Yes. part in R&D the investment our expenses just substantially R&D, in future that's at of look operating Mark the talking if and you is was increasing

Terry Becker

us the guidance hours? few Okay. attending tell many for produced you maybe don't [Indiscernible] how quarter your I in to have ships want on a March of in any XXst, for could you might the quarterly ask

Mark Frohnmayer

Terry, XXXX, Ramp, - are we a got not these the but numbers you've for audited how did if of ship many build in I out ballpark,

Douglas Campoli

in, that spite one It XX And that those pulled all I of the completed be even we're any expected to this setting in the come testing, that, another, and but fact at, quarter in Ramp. it wasn't about built the were QX, move of we eight dialing [Indiscernible] We many making factory of think where of the up, that. all moving vehicles But to off line in it's it have processes. that's in from about and really doing it's the in act it dialing

Mike Schlonsky

goals get the four side. to Total figures,

Terry Becker

Yes. from of been there door that QX in so what last How the out know many QX. final could the year into in went door don't QX revenue I went went have the actually some left number out

Mike Schlonsky

it. Got

their QX? in So to a be rate, much probably QX, going run clearly is better

Terry Becker

Absolutely.

Mark Frohnmayer

QX on output with zero basically call, move, in and expecting is This battery the was what really were consistent our the about we talked with QX with we validation.

as team those the getting So But good actually certainly as see thing. output a the in look coming the door in in bulk I the QX out being we of steps QX addition and at to this vehicles beyond.

Mike Schlonsky

be you But My question certification special R&D I product, or Terry. Mark special before. any question for last this they the go Thank that on is that Smokejumper. you Smokejumper do to a or asked to is and I product the and recall make through that entity. sure license to or fire-fighting it's afford is on that leading customers going Jesse available operations can the charge non-government being really

into don't any stage So that the we've that programming, on Jesse, can I offer think yet. great. you that got would But more if be

Jesse Fittipaldi

a got actually we've Mike, to it. of of the standpoint brought that folks from requirements the just use officially help us in that Yeah. team we understand who product the

have So as more that offering exciting that product become it's an know, -- become more for it's we just you and it. of has of a potential lot

the go through. it California make whatever side months, more and on the down working configuration we've off with and kick -- stuff the to we've of some so in have both to we real, regulatory over couple last And been that then testing

Mike Schlonsky

Got it. you somebody That's if along guys. Thank else. much, great pass color. there's I'll so

Mark Frohnmayer

All Jeff, right. up. you're

You're muted. All right.

you While got Jeff works with more? any technical Barry, challenges,

Barry Sine

see press release what vet submit assume steps I what have they of me the unmute. you to government once might the -- you we'll final, the who lot Not on what then do out goes submit And a that? that? Yeah. the about the do final? is that be? Let ATVM. When through the A process, take And on to and timeline questions sure

Mark Frohnmayer

submitting are expect sure is is Submitting that that part package we can't the not application ATVM those that covered making goal. would fund we application. a capital. basically And together application scale, have comes of when know the and pay And successful holistic this means goal, other market. to down -- that let we we to our of that pieces business then an I our submit -- that to put by the I for, actual the stakeholders -- to development obviously -- would that fully final of also comes continued have sources the the the that really me, that And to down

It in are expect up that's to got going all and that figured developments, at got Ramp are good for -- time, certainly been I at another very in looks into stuff of we and one weeks plan lot stay for continuing like we a good near long said call the Up, think out. another play -- those updates tuned. so coming as point. I welcome. Jeff, more it of Jeff on of think lots with we've that that's future, that where We've stream So it six And elements But come have stakeholders a got have that we'll so cooking

Jeff Campbell

Can you hear me?

Mark Frohnmayer

We can.

Jeff Campbell

XXXX possible, Mean technology will Great. in here. was Machine it'll noted Ignorance that well spend the the along. apparently if expect moderate? you think with or to Do the buy XXXX XXXX do I've is Lean significant trend trying you development continue investment Okay. R&D it's in a and similar R&D

Mark Frohnmayer

as the than actual to, that Well, that we to in. smaller that The any yardage those resources see other I to think industry the whole Arcimoto problem R&D to relative spend I say we think stuff of or of I trying says make up the that, this a we're we're yet the our accelerating is coming that that solve much so deploying and we're say, are the in and guess potential for are when And we're building field. the the I that would products that -- Arcimoto the organization is that spend we the wisely. pace market we with I super-cool continues in -- would that

machine factor of you although our partners, piece. cost developing small when Robovalet production, you'd to a small -- potential spend, it point it comes that's R&D for Now acquisition that part giant the do of to scaling although in Works overall Motor see the that's to think Tilting of of initiative. But Meilin very a the we when with our program. to And actually the the of mass machine, certainly up the have When product. Meilin to development comes

exceeding to levels likely to I going mission invest be future the in going forward, in at think and in what to we equal continuing the 'XX. or did we're

Douglas Campoli

investment effective. A it cost the XXXX the and was the more make lot existing improving FUV of too, electronics vehicle to in

Jeff Campbell

in That's was you. wanted quite in Thank what the one, the And the was follow-up standards interesting. a also I safety there just I just spile in timeline ''eventual I press thought can to with financial release.'' might involved technology you was wondering directive be -- about if and mentioned helpful. homologation that a Okay. that's Australia speak to the Australian

Mark Frohnmayer

And as I've Deliverator just has Meilin So team and the customers. moving their now can space of some on the for say just with I been into but I been family, calls without several I've very confidence, machine with -- high. -- the the that expressed violating well directed excitement they've not

than able our on product think and -- of out, requirements. just work figured a challenges what's I is bit we've going that see homologation to And sure share excited we the to and Arcimoto, their super huge family Deliverator, Meilin that suspenders detailed the to we the don't to term? getting got So are we have with lot we for are other I active them, very we're for that that it. machine the in more for family. market. see a for that conversation a opportunity as about And that Belt pathway tune -- making the be

Jeff Campbell

great. you. Okay, Thank

Mark Frohnmayer

Jesse? to want add, You

Jesse Fittipaldi

the from ATVM maybe. of use seeing program over for. we be a scale more has last some -- two organically what on used funds out ATVM some that build is well what can think to success on That the to -- Arcimoto the for And confusion our funds and really the there. a way our done in years I'm factory bit we company achieve the there. mostly growing be the LP just stuck scale. I own can chat add ATVM is to There the and of in little might

get funds year. those -- next used it's that So

LP about on in getting plan can about the we and his can to intended execute a show there to we've bit plan, the to what again, is something ATVM application team and company so that we pivot Kevin good working like how program we them has a And mission the work we have able a So point people successful fleets be been and knowledge Mark's might was really how to adding a have the the been that that that with understanding and better here DOE little for. program and on.

we about the to There And a been has ready lot it we good that. in where that really getting are have I'm submit. worked of with feeling So on. and is works documentation

just is be bit worth it going little -- is to time more this I good. So and

Mark Frohnmayer

once think as going wrap Thanks, to I'm we that a go of accordingly learning our to up Jesse. be it the we is And call. the mission. certainly I and and adjust along, and be understand say, -- stakeholders. without And the progress best But to to that Arcimoto at again, organization are we ahead going support to hit leave plan we just that would achieve not here we the

is push just brought continued us terms to family fight and -- certainly us. operation have to with that with impact from all You environmental a product potential, us to sketch vehicle footprint, efficiency, utility, you a Yeah, And we a think again thank world-class want along, I there in of production global to factor. napkin out we to the everyone has fun continued say who

next a Cheers! your will week of and see have fantastic You time. guys rest we you

Arcimoto (FUVV) 1 Apr 222021 Q4 Earnings call transcript