Arcimoto made board member Chris Dawson CEO after cutting about 200 jobs

Eugene, Oregon maker of doorless, three-wheeled electric vehicles, including the Fun Utility Vehicle and the delivery-focused Deliverator.

A new CEO, 200 fewer staff and weekly vehicle output can make Arcimoto's existing models profitable at a product level by the end of 2023.

$18M from two raises in early 2023, after ending 2022 with under $500,000 in cash.

An Arcimoto employee since 2015, Jesse Fittipaldi became interim CEO in August 2022, and board member Chris Dawson joined around then. By April 2023, CFO Doug Campoli and chief experience officer Lynn Yeager had left, and product head Dwayne Lum was named COO.

Arcimoto's annual report warned of substantial doubt about its ability to continue. Earlier in 2023 it secured $18M in two raises and said it would start shipping new EVs in March. Dawson said the company cut costs over several months by laying off or ending contracts with about 200 people.

On 20 April 2023 Arcimoto named Dawson CEO, with Fittipaldi staying as president reporting to him. Dawson said the company had about 110 staff and was producing new vehicles every week, and expected to be profitable at a product level toward year-end.

Cash had nearly run out, with under half a million dollars at the end of 2022 and a warning about continuing operations.

The company raised $18M and needed fewer people to build and ship the vehicles it already had.

Dawson, a board member, had spent five years at Tesla working on battery production, Model S/X and Model 3 assembly, according to Arcimoto.

A cash-starved hardware startup changed CEO, cut about 200 jobs and bet on shipping what it already built; the profit target was management's, not yet a result.

As of 20 April 2023, Arcimoto had about 110 staff, was building vehicles weekly and focusing on the Fun Utility Vehicle and Deliverator, with a profit target at product level for the end of the year, which remained a management expectation.