Acrimoto in the ICU?

Aptera Community Solar EV Industry News Acrimoto in the ICU?

Aptera Community Solar EV Industry News Acrimoto in the ICU?

  • Acrimoto in the ICU?

  • John Malcom

    Member
    September 10, 2021 at 8:44 am

    Acrimoto may not be coming back from the dead like Elio (Maybe) but could be going into the ICU. All 2019 – 2021 Acrimotos are being recalled because the batteries could unexpectedly shut down due to a firmware code problem.

    Acrimoto also has production target problems due to low demand/sales. In 2017 Acrimoto’s production target in their SEC filing was 100,000 units per year in 2022. In their 3Q 2020 guidance that target was revised down to 50,000 units per year starting in 2022. Combined years (2019 and 2020) total sales were 143 vehicles. (All recalled per previous paragraph)

    I feel comfortable that Aptera Engineering will maintain a stable code base and test extensively to ensure this kind of defect will not affect Aptera first time production vehicles. They have consistently shown that they want to do things right. I believe we can be confident in investing and buying Aptera when it goes into production. I also believe that production planning and execution will be “Right sized” And the ramp well managed with all of the constraints caused by COVID’s impact on the supply chain and the unavoidable “Unexpected” which comes up.

    Aptera will not be in the ICU or coming back from the dead.

  • Dennis McCall McCall

    Member
    September 10, 2021 at 9:49 am

    Part of the problem with Arcimoto is the price point. When I reserved they were talking about (and still are to a degree.) a base model @ $11,000. In the two times they have offered me a buy in (With a reservation number in the 2200 range) It’s been about $19,000 and up depending on equipment. That, and the lack of a promised longer range model, and even worse range at any kind of speed, has kept me from considering a purchase. (I did sell 1/4 of my Arcimoto stock at $30 a share, so I got a fair profit and my remaining shares are on the house at this point.)

  • Joshua Rosen

    Member
    September 10, 2021 at 10:03 am

    They’ve only built about 400 at this point. The way the vehicle is constructed now it isn’t mass producible. They are redesigning for manufacturability which will allow them to produce it in larger numbers and at a lower cost. There was an interview with their CEO on Youtube yesterday

    This is a niche vehicle like Aptera. They are never going to build 50,000 in a year, certainly not as long as they are selling in the US only and especially as long as it’s for winterless states only. If they can get to 10,000 a year they’ll be doing great.

  • Dan Roberts

    Member
    September 10, 2021 at 3:28 pm

    Steve and Chris have the experience of seeing their project on life support. They know how difficult their goal is. I see them taking carefully measured steps in preproduction. I think involving Munroe and Rousch in the Alpha and Beta phases shows that they have a good understanding of the process.

    I hope Acrimoto meets with success. They have a unique product that would fill a somewhat different niche than Aptera. Go Aptera!

    • kerbe2705

      Member
      September 10, 2021 at 3:58 pm

      FYI – “Roush”

  • Ronster

    Member
    September 10, 2021 at 7:13 pm

    I’m not a fan. Personal taste & opinion. Haven’t really been following as a result & certainly not Invested. BTW, it’s Arcimoto. 😉

    All caveats aside…

    Did something change as I had thought this info was accurate BUT I can also stand to be corrected. How serious is the battery issue?:

    Here’s how the returns break down from August 2020 to present:

    Apple is up from $129.04 a share to $148.60 for a return of 15.16%

    Peloton is up from $76.67 a share to $104.34 for a return of 36.09%

    Tesla is up from $498.32 a share to $711.92 for a return of 42.86%

    General Motors is up from $29.63 a share to $49.80 for a return of 68.07%

    And finally, Arcimoto is up from $6.06 a share to $11.72 for a return of 93.40% (I’m kinda shocked).

    The “Deliverator” is the most interesting (puposeful) followed by the “Flatbed” (adaptable) then the “Roadster” (a.k.a. WTF – Curious to see “in person”) 😎. IMHO.

  • John Malcom

    Member
    September 10, 2021 at 9:06 pm

    Yep, it is Arcimoto

    Battery issue is pretty serious. (Not at the scale of GM’s issue with the Bolt)

    If you go to the NHTSA site you will see that they had a total of seven recalls, 5 for electrical system, 1 for Hybrid Propulsion System, 1 for brakes, 1 for steering, 1 for seat belts. This is the text from the Hybrid Propulsion System “Inverter communication may time out – a Battery shutdown causes an immediate loss of power increasing the risk of a crash” That was the last of the seven recalls which was recorded on May 4th. The other recalls occurred on March 6, March 18, April 6, and May 3.

    Hard to say what caused all of it. My guess, perfect storm of rush to judgement to get something out to generate revenue using a brand new production process and perhaps compromised QC. Could be less than sterling design and engineering as well. Only Arcimoto will know.

    As for the stock price anomaly, the article at this URL may explain. It is an opinion of the author. Take with a grain of salt as the author is not a fan of the company.

    https://seekingalpha.com/article/4406072-arcimoto-does-not-want-to-admit-demand-problem

    At my age (Late 70’s) I don’t do speculative stock things. All of my portfolio is in stocks that generate consistent and reasonably good dividends. I will leave comment on the stock price to someone on the forum that does.

    Here is the NHTSA URL if you want to look for yourself

    https://www.nhtsa.gov/vehicle/2020/ARCIMOTO/FUV#recalls

    • Joshua Rosen

      Member
      September 12, 2021 at 9:27 am

      Don’t they have OTA’s. You shouldn’t have to take a car into service to get a software update. I hope that Aptera is intending to have OTA’s on day one, they make a huge difference in the serviceability of cars.

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