Arcimoto Founder Launches New Electric Trike Venture

When one electric vehicle dream stalls, sometimes you just build another one.

Mark Frohnmayer spent 15 years building Arcimoto, the Eugene-based company famous for its quirky three-wheeled electric vehicles called FUVs. At its peak in the early 2020s, the company reached a stunning valuation of more than $1.2 billion.

But entrepreneurship rarely follows a straight path. Frohnmayer was removed as CEO in 2022, and the company stopped producing new vehicles over three years ago. After staying on the Board of Directors for several years, he finally departed last November.

That same month, he was already plotting his comeback. Oregon business records show Frohnmayer registered a new company: Archetrike LLC.

By December, the pieces started falling into place. Archetrike filed a trademark application for "BAT," covering electrically powered motor vehicles and three-wheeled vehicles. The specifics remain under wraps, with no website or public announcements about what the company will build.

When reached by KLCC for comment, Frohnmayer had just two words: "no comment... yet." That "yet" carries a world of promise.

The Bright Side

While Arcimoto's current struggles are real (the company now sells from existing inventory while facing eviction from its landlord), the story doesn't end there. Frohnmayer's quick pivot to a new venture shows the resilience that defines true innovators.

The electric vehicle revolution needs persistent dreamers. Three-wheeled vehicles occupy a unique space in transportation: more stable than motorcycles, more efficient than cars, and potentially more accessible than either. Frohnmayer clearly believes this category still has untapped potential.

His experience, both the triumphs and setbacks, makes him uniquely qualified to try again. Building a company to a billion-dollar valuation teaches lessons no business school can offer. Sometimes the second version benefits from everything learned in the first.

The tight-lipped approach suggests Frohnmayer is focused on building rather than promoting. In an era of endless pre-announcements and vaporware, there's something refreshing about an entrepreneur who lets the work speak first.

Whatever "BAT" turns out to be, Eugene's electric vehicle story is far from over.