The Arcimoto SRK, an all-electric three-wheeler, has been almost 10 years in the making. The Oregon-based startup started working on the concept in 2007 and they now have the 8th generation of the vehicle.

President and Founder of Arcimoto, Mark Frohnmayer, told Electrek this week that the company is getting ready to bring the SRK to market this year.

The vehicle has some impressive specs for a three-wheeler and it’s certainly no golf cart:

Acceleration: 0-60 in 7.5 s

Top Speed: 80 mph

Turning Circle: 26 feet

Range (12 kWh pack): 70 mi

Range (20 kWh pack): 130 mi

Power Plant (kW): Dual 25 kW

Power Plant (HP): 67 HP

But the most impressive spec is its efficiency. Arcimoto claims an equivalent fuel consumption of 230 MPG.

The base price is $12,000 for the 12 kWh model, but since it’s considered a motorcycle, it qualifies for electric motorcycle incentives. Depending on where you are located, it can bring down the price to less than $10,000.

Over 1,100 people have already placed reservations with a $100 deposit.

They could still have to wait for a little while since even though Arcrimoto aims to start production this year, it only plans to produce about 100 units.

They plan to ramp up production in 2018.

Arcimoto offered us a quick test ride at CES in Las Vegas and it’s undoubtedly a fun ride that leaves you with a smile on your face.

It’s an interesting way to introduce people to motorcycling while reducing the difficulty associated with learning how to ride and at the same time, it also offers an opportunity to enter EV ownership at a much lower cost that we are used to.

The dual motor system sends power independently to each front wheel making the vehicle fairly stable and gives confidence when turning.

It’s definitely not as practical as your average car, but the company is taking steps to make the Arcimoto SRK more practical.

Arcimoto will offer soft and hard enclosures as accessories. They didn’t disclose the price of those add-ons, but Frohnmayer did say that a fully loaded Arcimoto SRK shouldn’t cost more than $20,000.

Update: The company has posted their video

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