Arcimoto 3-wheeled electric vehicle startup passes $1B market cap

By Staff Writer

Arcimoto's market capitalization recently crossed the $1 billion threshold making the three-wheeled electric car company the newest member of the unicorn club.

The company has a current market capitalization of $1.23 billion. Arcimoto is catching the attention of investors and EV bulls.

Arcimoto has uniquely focused on the three-wheeled electric vehicle market. They have manufactured only 150 vehicles so far, but aims to reach an annual production rate of 50,000 units in the next two years.