Arcimoto (FUVV) 10-Q17 May 212021 Q1 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2021	May 17, 2021
Document Information Line Items
Entity Registrant Name	Arcimoto Inc
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		35,783,000
Amendment Flag	false
Entity Central Index Key	0001558583
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Entity File Number	001-38213
Entity Incorporation, State or Country Code	OR
Entity Interactive Data Current	Yes

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 46,650,143	$ 39,451,401
Accounts receivable, net	13,882	17,117
Inventory	5,642,824	5,104,068
Prepaid inventory	946,119	1,029,617
Other current assets	990,608	900,827
Total current assets	54,243,576	46,503,030
Property and equipment, net	6,949,160	6,645,230
Intangible assets, net	10,517,319
Goodwill	6,824,209
Security deposits	125,771	101,688
Total assets	78,660,035	53,249,948
Current liabilities:
Accounts payable	1,060,267	205,133
Accrued liabilities	529,173	431,166
Customer deposits	616,173	605,532
Current portion of capital lease obligations	264,220	246,524
Notes payable	231,597	478,928
Current portion of warranty reserve	177,659	161,607
Current portion of deferred revenue	281,509	127,219
Current portion of equipment financing notes payable	306,551	237,069
Current portion of note payable to bank		421,076
Total current liabilities	3,467,149	2,914,254
Capital lease obligations, net of current portion	330,272	534,624
Warranty reserve	126,500	66,500
Long-term deferred revenue	43,750	50,000
Equipment financing notes payable, net of current portion	1,525,026	1,352,930
Note payable to bank, net of current portion	1,068,686	647,610
Total long-term liabilities	3,094,234	2,651,664
Total liabilities	6,561,383	5,565,918
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred Stock, no par value, 1,500,000 authorized, none issued and outstanding as of March 31, 2021 and December 31, 2020, respectively
Common Stock, no par value, 60,000,000 shares authorized; 35,758,090 and 34,187,555 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	128,855,849	100,236,178
Additional paid-in capital	4,413,966	3,876,503
Accumulated deficit	(61,171,163)	(56,428,651)
Total stockholders’ equity	72,098,652	47,684,030
Total liabilities and stockholders’ equity	78,660,035	53,249,948
Series A-1 Preferred Stock
Stockholders’ equity:
Preferred Stock, no par value, 1,500,000 authorized, none issued and outstanding as of March 31, 2021 and December 31, 2020, respectively
Total stockholders’ equity
Class C Preferred Stock
Stockholders’ equity:
Preferred Stock, no par value, 1,500,000 authorized, none issued and outstanding as of March 31, 2021 and December 31, 2020, respectively
Total stockholders’ equity

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	1,500,000	1,500,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	35,758,090	34,187,555
Common stock, shares outstanding	35,758,090	34,187,555
Series A-1 Preferred Stock
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	1,500,000	1,500,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Class C Preferred Stock
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
Condensed Statements of Operations (Unaudited) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Product sales	$ 1,246,363	$ 598,035
Other revenue	147,612	18,760
Total revenues	1,393,975	616,795
Cost of goods sold	3,244,507	1,689,518
Gross loss	(1,850,532)	(1,072,723)
Operating expenses:
Research and development	2,407,695	448,974
Sales and marketing	964,447	336,898
General and administrative	2,420,613	1,496,845
Total operating expenses	5,792,755	2,282,717
Loss from operations	(7,643,287)	(3,355,440)
Other expense (income):
Interest expense	52,227	246,834
Other income	(14,154)	(7,500)
Loss before benefit for income taxes	(7,681,360)	(3,594,774)
Income tax benefit	2,938,848
Net loss	$ (4,742,512)	$ (3,594,774)
Weighted average common shares - basic and diluted (in Shares)	35,327,316	24,480,445
Net loss per common share - basic and diluted (in Dollars per share)	$ (0.13)	$ (0.15)

Condensed Statements of Stockho

Condensed Statements of Stockholders’ Equity (Unaudited) - USD ($)	Series A-1 Preferred Stock	Class C Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2019			$ 43,573,529	$ 2,344,751	$ (38,308,162)	$ 7,610,118
Balance (in Shares) at Dec. 31, 2019			24,436,389
Issuance of common stock for settlement of payable			$ 56,328			56,328
Issuance of common stock for settlement of payable (in Shares)			32,749
Offering costs			$ (3,619)			(3,619)
Stock-based compensation				304,965		304,965
Net loss					(3,594,774)	(3,594,774)
Balance at Mar. 31, 2020			$ 43,626,238	2,649,716	(41,902,936)	4,373,018
Balance (in Shares) at Mar. 31, 2020			24,469,138
Balance at Dec. 31, 2020			$ 100,236,178	3,876,503	(56,428,651)	47,684,030
Balance (in Shares) at Dec. 31, 2020			34,187,555
Issuance of common stock for settlement of payable			$ 146,300			146,300
Issuance of common stock for settlement of payable (in Shares)			11,000
Issuance of common stock for cash, net of offering costs of $543,523			$ 13,526,512			13,526,512
Issuance of common stock for cash, net of offering costs of $543,523 (in Shares)			581,782
Issuance of common stock for the acquisition of TMW			$ 13,038,355			13,038,355
Issuance of common stock for the acquisition of TMW (in Shares)			436,339
Exercise of warrants			$ 1,714,663	(57,162)		1,657,501
Exercise of warrants (in Shares)			486,429
Exercise of stock options			$ 193,841	(65,854)		127,987
Exercise of stock options (in Shares)			54,985
Stock-based compensation				660,479		660,479
Net loss					(4,742,512)	(4,742,512)
Balance at Mar. 31, 2021			$ 128,855,849	$ 4,413,966	$ (61,171,163)	$ 72,098,652
Balance (in Shares) at Mar. 31, 2021			35,758,090

Condensed Statements of Stock_2

Condensed Statements of Stockholders’ Equity (Unaudited) (Parentheticals)	3 Months Ended
	Mar. 31, 2021USD ($)
Statement of Stockholders' Equity [Abstract]
Net of offering costs	$ 543,523

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
Condensed Statements of Cash Flows (Unaudited) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
OPERATING ACTIVITIES
Net loss	$ (4,742,512)	$ (3,594,774)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	429,561	207,551
Amortization of debt discount		153,748
Stock-based compensation	660,479	304,965
Deferred income tax benefit	(2,938,848)
Changes in operating assets and liabilities:
Accounts receivable	3,235	228,225
Inventory	(196,362)	(1,461,051)
Prepaid inventory	83,498	70,505
Other current assets	(85,698)	47,542
Accounts payable	1,001,434	742,691
Accrued liabilities	98,007	(50,355)
Customer deposits	(81,108)	(145,100)
Warranty reserve	76,052	20,874
Deferred revenue	148,040	(11,674)
Net cash used in operating activities	(5,544,222)	(3,486,853)
INVESTING ACTIVITIES
Purchase of property and equipment	(598,461)	(198,993)
Security deposits	(24,083)	(47,100)
Cash paid for acquisition of Tilting Motor Works	(1,754,083)
Net cash used in investing activities	(2,376,627)	(246,093)
FINANCING ACTIVITIES
Proceeds from the sale of common stock	14,070,035
Payment of offering costs	(543,523)	(3,619)
Proceeds from exercise of warrants	1,657,501
Proceeds from the exercise of stock options	127,987
Proceeds from equipment notes	204,661	69,740
Repayment of notes payable	(247,331)	(167,847)
Repayment of equipment notes	(88,583)	(58,146)
Payment on capital lease obligations	(61,156)	(49,954)
Net cash provided by (used in) financing activities	15,119,591	(209,826)
Net cash increase (decrease) for period	7,198,742	(3,942,772)
Cash at beginning of period	39,451,401	5,832,489
Cash at end of period	46,650,143	1,889,717
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest		42,015
Cash paid during the period for income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Common shares issued for Tilting Motor Works acquisition	13,038,355
Issuance of common stock for settlement of accounts payable	$ 146,300	$ 56,328

Nature of Operations

Nature of Operations	3 Months Ended
Nature of Operations	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1: NATURE OF OPERATIONS Arcimoto, Inc. (the “Company”) was incorporated in the State of Oregon on November 21, 2007. The Company’s mission is to catalyze the global shift to a sustainable transportation system. Over the past 13 years, the Company has developed a new vehicle platform designed around the needs of everyday drivers. Having approximately one-third the weight and one-third of the footprint of the average car, the Arcimoto platform’s purpose is to bring the joy of ultra-efficient, pure electric driving to the masses. To date, the Company has introduced five vehicle products built on this platform that target specific niches in the vehicle market: our flagship product, the Fun Utility Vehicle® (“FUV®”), for everyday consumer trips; the Deliverator® for last-mile delivery and general fleet utility; the Rapid Responder™ for emergency services and security; the Cameo™ for film, sports and influencers; and the Arcimoto Roadster, an unparalleled pure-electric on-road thrill machine. Risks and Uncertainties We started retail production in the third quarter of 2019 at one FUV per build day and ramped to two per build day in the first quarter of 2020 before suspending production in response to the COVID-19 pandemic. We restarted production and resumed deliveries to customers in the third quarter of 2020. As a result of the suspension, revenues from 2020 were negatively impacted. Revenues from subsequent quarters may be negatively impacted based on the length and severity of the pandemic. Production in the first quarter of 2021 achieved three FUV per build day and successfully tested to validate four per day. Further, Arcimoto does not have a history of higher-scale production and may encounter delays or inefficiencies in its sales and manufacturing processes, which may prevent or delay achieving higher-scale production within anticipated timeliness. In order to achieve higher-scale production, the Company may need to raise additional capital, and there can be no assurance such capital will be available upon reasonable terms, if at all. Additionally, the Company’s business and operations are sensitive to governmental policies on importation and exportation, as well as the availability of vehicle components from suppliers, which themselves may be impacted by pandemics and such, as well as the ever-shifting general landscape of governmental policy related to cars and motorcycles. The Company’s industry is characterized by rapid changes in technology and customer demands. The Company’s future success will depend on its ability to adapt to technological advances, its nimble reaction to customer demands, its development of well-considered new products and services, and the enhancement of its current products and services on a timely and cost-effective basis. Finally, the Company may not have the capital resources necessary to further the development of existing and/or new products.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Going Concern The accompanying financial statements have been prepared on a basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred significant losses since inception and management expects losses to continue for the foreseeable future. The Company had approximately $46,650,000 of cash as of March 31, 2021, which is in excess of cash needed for the next twelve months. Unaudited Interim Financial Information The accompanying unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q promulgated by the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and disclosures required by GAAP for complete financial statement presentation. In the opinion of management, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 31, 2021, and the results of its operations for the three months ended March 31, 2021 and 2020 and its cash flows for the three months ended March 31, 2021 and 2020. Results for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2021. Business Combinations The Company accounts for business combinations under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805 “Business Combinations” using the acquisition method of accounting, and accordingly, the assets and liabilities of the acquired business are recorded at their fair values at the date of acquisition. The excess of the purchase price over the estimated fair value of the net assets acquired is recorded as goodwill. All acquisition costs are expensed as incurred. Upon acquisition, the acquired assets and liabilities and results of operations are consolidated beginning at the acquisition date. Inventory Inventory is stated at the lower of cost (using the first-in, first-out method (“FIFO”) or market value. Inventories consist of purchased electric motors, electrical storage and transmission equipment, and component parts. March 31, December 31, Raw materials $ 4,892,827 $ 4,667,780 Work in progress 59,078 65,210 Finished goods 690,919 371,078 Total $ 5,642,824 $ 5,104,068 The Company is required to remit partial prepayments for some purchases of its inventories acquired from overseas vendors which are included in prepaid inventories. The Company is currently selling vehicles below the base cost of a finished unit. Accordingly, the Company expensed all labor and overhead as period costs, and recorded an allowance to reduce inventories to net realizable value of approximately $593,000 and $550,000 as of March 31, 2021 and December 31, 2020, respectively. Customer Deposits Non-refundable customer deposits are comingled with operating funds. Refundable customer deposits are held in a separate deposit account. Revenue is not recognized on customer deposits until the deposit is applied to a non-refundable vehicle order, the vehicle manufacturing process is completed, the vehicle is picked up by or delivered to the customer and the appropriate revenue recognition criteria have been met. Intangible Assets Intangible assets primarily consist of trade names/trademarks, proprietary technology, and customer relationships. They are amortized using the straight-lined method over a period of 10 to 14 years. The Company assesses the recoverability of its finite-lived intangible assets when there are indications of potential impairment. Indefinite-lived intangible assets are evaluated for impairment annually. Goodwill The Company tests goodwill for potential impairment at least annually, or more frequently if an event or other circumstance indicates that the Company may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, the Company may assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount. If the Company bypasses the qualitative assessment, or if the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company performs a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. The Company calculates the estimated fair value of a reporting unit using a weighting of the income and market approaches. For the income approach, the Company uses internally developed discounted cash flow models that include the following assumptions, among others: projections of revenues, expenses, and related cash flows based on assumed long-term growth rates and demand trends; expected future investments to grow new units; and estimated discount rates. For the market approach, the Company uses internal analyses based primarily on market comparables. The Company bases these assumptions on its historical data and experience, third party appraisals, industry projections, micro and macro general economic condition projections, and its expectations. Net Earnings or Loss per Share The Company’s computation of earnings (loss) per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common shareholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., common stock warrants and common stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per common share is the same for all periods presented because all common stock warrants and common stock options outstanding were anti-dilutive. At March 31, 2021 and 2020, the Company excluded the outstanding Employee Equity Plans (“EEP”) and other securities summarized below calculated using the Treasury Stock Method, which entitled the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. Three Months Ended 2021 2020 Options and other instruments under the 2012, 2015, and 2018 Plans to purchase common stock 3,094,548 431,746 Underwriters and investors warrants issued outside of an EEP 76,402 — Total 3,170,950 431,746 Recent Accounting Pronouncements The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s financial statements properly reflect the change. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”) which supersedes ASC Topic 840, Leases. ASU 2016-02 requires lessees to recognize a right-of-use asset and a lease liability on their balance sheets for all the leases with terms greater than 12 months. Based on certain criteria, leases will be classified as either financing or operating, with classification affecting the pattern of expense recognition in the income statement. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. In November 2019, the FASB delayed the effective date for Topic 842 to fiscal years beginning after December 15, 2020 for private companies and emerging growth companies, and interim periods within those years, with early adoption permitted. In June 2020, the FASB issued ASU No 2020-05 that further delayed the effective date of Topic 842 to fiscal years beginning after December 15, 2021. We will adopt this new standard on January 1, 2022. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements” that allows entities to apply the provisions of the new standard at the effective date, as opposed to the earliest period presented under the modified retrospective transition approach and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The modified retrospective approach includes a number of optional practical expedients primarily focused on leases that commenced before the effective date of Topic 842, including continuing to account for leases that commence before the effective date in accordance with previous guidance, unless the lease is modified. The Company currently expects that most of its operating lease commitments will be subject to the new standard and recognized as operating lease liabilities and right-of-use assets upon its adoption of Topic 842, which will increase the total assets and total liabilities that the Company reports relative to such amounts prior to adoption. Adoption of Recent Accounting Pronouncements In October 2020, the FASB issued ASU 2020-10, “Codification Improvements” (“ASU 2020-10”), which updates various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. The effective date of the standard will be for interim and annual reporting periods beginning after December 15, 2020 for public entities. The new guidance was effective upon issuance of this final accounting standards update. The Company has adopted this standard and the adoption did not have a material impact on its condensed consolidated financial statements or disclosures.

TMW Acquisition

TMW Acquisition	3 Months Ended
TMW Acquisition	Mar. 31, 2021
Business Combinations [Abstract]
TMW ACQUISITION	NOTE 3: TMW ACQUISITION On January 23, 2021, the Company entered into an Asset Purchase Agreement (the “Agreement”) with Tilting Motor Works, Inc. (“TMW”), a Washington corporation (the “Seller”) and its owner. Pursuant to the terms and conditions of the Agreement, the Company paid cash of $1,754,083 and issued 436,339 shares of Company common stock as consideration for substantially all of the TMW’s assets and certain assumed liabilities. The common shares issued were unregistered and are subject to sales restrictions under the Securities Act of 1933. The Company valued the shares issued in the transaction at the average of opening and closing price on the date of acquisition with a 12.5% discount for lack of marketability. The acquisition closed on February 4, 2021 and was recorded as a business combination as the set of assets and activities acquired met the definition of a business. The purchase price is allocation is as follows: Cash $ 1,754,083 Add: Fair value of shares issued 13,038,355 Total consideration $ 14,792,438 Description Fair value Assets acquired: Inventory $ 342,394 Prepaid expenses and other current assets 4,083 Property, plant, and equipment 4,349 Trade name 2,052,000 Proprietary technology 7,010,000 Customer relationships 1,586,000 Goodwill 6,824,209 Total assets acquired $ 17,823,035 Liabilities assumed: Customer deposits $ 91,749 Deferred tax liability 2,938,848 Total liabilities assumed 3,030,597 Estimated fair value of net assets acquired $ 14,792,438 The following unaudited pro-forma financial information presents the consolidated results of operations of the Company and TMW for the three months ended March 31, 2021 and 2020, as if the acquisition had occurred as of the beginning of the first period presented instead of on February 4, 2021. The proforma information does not necessarily reflect the results of operations that would have occurred had the entities been a single company during those periods. The pro-forma financial information for the Company and TMW is as follows: For the Three Months Ended 2021 2020 Revenues $ 1,403,954 $ 828,660 Net loss attributable to common stockholders $ (7,911,783 ) $ (3,860,541 ) Net loss per basic and diluted common share $ (0.22 ) $ (0.15 ) Weighted average common shares outstanding: Basic and diluted 35,327,316 24,916,784

Property and Equipment

Property and Equipment	3 Months Ended
Property and Equipment	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4: PROPERTY AND EQUIPMENT As of March 31, 2021 and December 31, 2020, our property and equipment consisted of the following: March 31, December 31, Machinery and equipment $ 5,245,534 $ 5,245,534 Fixed assets in process 2,105,561 1,993,760 Leasehold improvements 983,522 983,522 FUV fleet 520,354 336,730 FUV rental fleet 115,124 — Computer equipment and software 188,984 94,384 Vehicles 97,661 — Furniture and fixtures 52,007 52,007 Total property and equipment 9,308,747 8,705,937 Less: Accumulated depreciation (2,359,587 ) (2,060,707 ) Total $ 6,949,160 $ 6,645,230 Fixed assets in process is comprised primarily of tooling and equipment related to the manufacturing of our vehicles. Completed assets are transferred to their respective asset class and depreciation begins when the asset is ready for its intended use. FUV fleet consists of marketing and other non-revenue generating vehicles. FUV rental fleet is comprised of rental revenue generating vehicles. Depreciation expense was approximately $299,000 and $208,000 during the three months ended March 31, 2021 and 2020, respectively. On December 23, 2020, the Company entered into an agreement to purchase certain buildings totaling approximately 187,000 square feet, and approximately 6.6 acres of real estate located within the City of Eugene, Oregon. The Company has agreed to purchase the properties commonly known as 311 Chambers Street and 1480 West 3rd Avenue, from RLA Holdings, LLC for the total purchase price of $10,250,000. The Company pledged $80,000 as earnest money for the transaction. During the first quarter of 2021, an additional 4.1 acres and 33,000 square feet of buildings to the south were added to the purchase agreement totaling $2,500,000. The total sales price was increased to $12,750,000. The purchase was contingent upon the Company’s complete and unconditional approval of: (i) the property and its physical condition, zoning and land use restrictions, and all systems, utilities, and access rights pertaining to the property; (ii) the seller’s documents; (iii) securing financing; (iv) a Phase I environmental assessment and all appropriate inquiries investigation so as to protect the Company under CERCLA; and (v) anything else the Company deems necessary. On March 15, 2021, the due diligence was complete and the Company paid the $80,000 earnest money. On April 19, 2021, the Company closed and completed the purchase of the properties described above. RLA Holdings, LLC will be permitted to rent back the 311 Chambers St property after closing for up to six (6) months at a rate of $50,000 per month plus all utilities, taxes, insurance, and maintenance expenses. The Company intends to utilize these properties to improve its production capabilities. The new facility is expected to be operational by the end of 2022.

Intangible Assets

Intangible Assets	3 Months Ended
Intangible Assets	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 5: INTANGIBLE ASSETS The following table summarizes the Company’s intangible assets: March 31, 2021 Estimated Gross Assets Accumulated Net Book Tradename and trademarks 14 years $ — $ 2,052,000 $ (22,684 ) $ 2,029,316 Proprietary technology 13 years — 7,010,000 (83,452 ) 6,926,548 Customer relationships 10 years — 1,586,000 (24,545 ) 1,561,455 $ — $ 10,648,000 $ (130,681 ) $ 10,517,319 (1) On January 23, 2021 the Company acquired various assets of Tilting Motor Works, Inc. (See Note 3)

Goodwill

Goodwill	3 Months Ended
Goodwill	Mar. 31, 2021
Disclosure Text Block Supplement [Abstract]
GOODWILL	NOTE 6: GOODWILL The following table summarizes the Company’s goodwill as of March 31, 2021: Total Balance as of January 1, 2021 $ — Goodwill additions through Tilting Motor Works acquisition 6,824,209 Less: impairment charge recorded — Balance as of March 31, 2021 $ 6,824,209

Capital Lease Obligations

Capital Lease Obligations	3 Months Ended
Capital Lease Obligations	Mar. 31, 2021
Leases [Abstract]
CAPITAL LEASE OBLIGATIONS	NOTE 7: CAPITAL LEASE OBLIGATIONS As of March 31, 2021, the Company has financed through lease agreements a total of approximately $1,250,000 of its capital equipment purchases with monthly payments ranging from $437 to $8,582, repayment terms ranging from 48 to 60 months, and effective interest rates ranging from 4.52% to 9.52%. Total monthly capital lease payments as of March 31, 2021 are $25,223. These lease obligations mature ranging from December 2021 through November 2023 and are secured by approximately $1,427,000 in underlying assets which have approximately $475,000 in accumulated depreciation as of March 31, 2021. The balance of capital lease obligations was approximately $594,000 and approximately $781,000 as of March 31, 2021 and December 31, 2020, respectively.

Notes Payable

Notes Payable	3 Months Ended
Notes Payable	Mar. 31, 2021
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 8: NOTES PAYABLE On May 5, 2020, the Company received a Paycheck Protection Program (“PPP”) loan in the amount of $1,068,686, referred to on the balance sheet as Note payable to bank. The loan has an interest rate of 1% and monthly payments of $60,154 for 18 months beginning December 5, 2020. This loan is eligible for the limited loan forgiveness provisions of Section 1102 of the CARES Act, and the SBA Interim Final Rule dated April 2, 2020. As of March 31, 2021, the balance on the loan was $1,068,686. As of April 27, 2021 all of the outstanding principal and interest of $1,068,686 and $10,568 were forgiven. The entire loan balance was presented as noncurrent on the balance sheet as of March 31, 2021. As of March 31, 2021, the Company has financed a total of approximately $2,440,000 of its capital equipment purchases with monthly payments ranging from $362 to $11,749, repayment terms ranging from 60 to 72 months, and effective interest rates ranging from 1.99% to 9.90%. Total monthly payments as of March 31, 2021 are $47,376. These equipment notes mature ranging from January 2023 through October 2026. The balance of equipment financing notes payable was approximately $1,832,000 and $1,590,000 as of March 31, 2021 and December 31, 2020, respectively.

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
Stockholders’ Equity	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 9: STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 5,000,000 shares of preferred stock, no par value, of which 1,500,000 shares were designated as Series A-1 Preferred Stock and 2,000,000 are designated as Class C Preferred Stock. The Series A-1 Preferred Stock is convertible at any time after issuance at the option of the holder into shares of common stock at the original issue price of the Series A-1 Preferred Stock. The Series A-1 Preferred Stock was also subject to mandatory conversion provisions upon an initial public offering raising $15 million or more and is not redeemable. To prevent dilution, the conversion price of the Series A-1 Preferred Stock is to be adjusted for any issuance of securities, excluding exempt securities, which change the number of shares of common stock outstanding. The Series A-1 Preferred Stockholders are entitled to equal voting rights to common stockholders on an as-converted basis and receive preference to the common stockholders upon liquidation. Except as otherwise required by law or expressly provided in the Company’s Second Amended and Restated Articles of Incorporation, as amended, each share of Class C Preferred Stock has one vote for the election of directors and on all matters submitted to a vote of shareholders of the Company. The Company is not obligated to redeem or repurchase any shares of Class C Preferred Stock. Shares of Class C Preferred Stock are not otherwise entitled to any redemption rights, or mandatory sinking fund or analogous fund provisions. Common Stock The Company has reserved a total of 4,876,580 shares of its common stock pursuant to the equity incentive plans (see Note 10). The Company has 3,938,824 and 4,058,791 stock units, options and warrants outstanding under these plans as of March 31, 2021 and December 31, 2020, respectively. The Company has 122,238 and 593,667 shares of its common stock reserved for warrants issued outside of the equity incentive plans as of March 31, 2021 and December 31, 2020, respectively. Issuance of common stock for settlement of payable The Company issued 11,000 common shares for investor relations consulting services with a fair value of $146,300 during the three months ended March 31, 2021. During the three months ended March 31, 2020, the Company issued 32,749 common shares for services with a fair value of $56,328. The shares were valued based on the stock price at the time of the grant when the performance commitment was complete. The shares issued during the three months ended March 31, 2021 and 2020 were to settle existing accounts payable. Exercise of Stock Options and Warrants A total of 54,985 employee options, with exercise prices ranging from $1.71 to $4.52 per share were exercised for total proceeds to the Company of $127,987 during the three months ended March 31, 2021. During the three months ended March 31, 2020, no employee options were exercised for cash. A total of 15,000 employee warrants, with an exercise prices of $0.50 per share were exercised for total proceeds to the Company of $7,500 during the three months ended March 31, 2021. During the three months ended March 31, 2020, no employee warrants were exercised for cash. A total of 471,429 warrants issued to an investor, with an exercise price of $3.50 per share were exercised for total proceeds to the Company of $1,650,001 during the three months ended March 31, 2021. During the three months ended March 31, 2020, no warrants issued to investors were exercised for cash. Offerings of Common Stock On January 25, 2021, the Company entered into an Equity Distribution Agreement (“EDA”) with Canaccord Genuity LLC (“Canaccord”) under which we may offer and sell shares of our common stock in connection with the ATM in an aggregate offering amount of up to $80,000,000 from time to time through Canaccord, acting exclusively as our sales agent (the “Offering”). We intend to use the net proceeds of the Offering primarily for working capital and general corporate purposes. We issued and sold 581,782 shares of common stock during the three months ended March 31, 2021, in connection with the ATM at per share prices between $19.35 and $32.50, resulting in net proceeds to the Company of approximately $13,500,000, after subtracting offering expenses.

Stock-Based Payments

Stock-Based Payments	3 Months Ended
Stock-Based Payments	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED PAYMENTS	NOTE 10: STOCK-BASED PAYMENTS The Company has common stock, common stock units, and common stock purchase options and warrants reserved pursuant to the 2018 Omnibus Stock Incentive Plan (“2018 Plan”), Amended and Restated 2015 Stock Incentive Plan (“2015 Plan”) and the Second Amended and Restated 2012 Employee Stock Benefit Plan (“2012 Plan”). Stock-based compensation, including stock options, warrants and stock issued for compensation and services is included in the statements of operations as follows: Three Months Ended 2021 2020 Research and development $ 162,447 $ 53,700 Sales and marketing 98,589 21,157 General and administrative 218,623 163,884 Cost of goods sold 180,520 66,224 Total $ 660,479 $ 304,965 2018 Omnibus Stock Incentive Plan The 2018 Plan authorizing 1,000,000 shares was approved by the Board of Directors and then the Company’s shareholders at the Company’s 2018 annual meeting of shareholders held on June 9, 2018. At the 2019 Annual Meeting, the shareholders approved an additional 1,000,000 shares of common stock to be issued under the 2018 Plan. On April 20, 2020, the board of directors approved an increase from 2,000,000 to 4,000,000 shares; at the annual shareholder meeting on June 20, 2020, the increase was approved by a majority of the shareholders. The 2018 Plan provides the Company the ability to grant to employees, directors, consultants or advisors shares of common stock of the Company through the grant of equity awards, including, but not limited to, options that are incentive stock options or NQSOs and restricted stock, provided that only employees are entitled to receive incentive stock options in accordance with IRS guidelines. As of March 31, 2021, the Company had a remaining reserve of 932,311 shares of common stock under the 2018 Plan. Awards that are forfeited generally become available for grant under the 2018 Plan. Employee stock-based compensation expense under the 2018 Plan included in operating expenses for the three months ended March 31, 2021 was $638,907 and $267,641, respectively. Total compensation cost related to non-vested awards issued under the 2018 Plan not yet recognized as of March 31, 2021 was approximately $4,380,134 and will be recognized on a straight-line basis through December 2023 based on the respective vesting periods. The amount of future stock option compensation expense could be affected by any future option grants or forfeitures.

Customer Deposits

Customer Deposits	3 Months Ended
Customer Deposits	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
CUSTOMER DEPOSITS	NOTE 11: CUSTOMER DEPOSITS The Company has received customer deposits ranging from $100 to $500 per vehicle for Retail Series production vehicles for purposes of securing a vehicle production slot As of March 31, 2021 and December 31, 2020, the Company’s balance of deposits received was approximately $616,000 and $606,000, respectively. As of March 31, 2021 and December 31, 2020, $409,724 and $403,624, respectively, of these deposits were refundable upon demand. Deposits are included in current liabilities in the accompanying balance sheets. When a customer’s order is ready to enter the production process, the customer is notified that if they would like to proceed with the purchase of a vehicle, their deposit will no longer be refundable and any additional deposit required must be paid prior to the start of the manufacturing process. There were $100 and no customer deposits from related parties as of March 31, 2021 and December 31, 2020, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12: COMMITMENTS AND CONTINGENCIES On December 6, 2019, we entered into a lease for a property approximately six blocks east of the AMP that contains two buildings. The initial term of the lease is 25 months and began on December 6, 2019. There is an option for a three-year extension. The main building is 6,508 square feet of office and warehouse space and the auxiliary building is 4,318 square feet of warehouse space. The office space is being used by marketing and sales. The warehouse is being used for R&D and battery module manufacturing. On March 3, 2020, we amended the lease to include the adjacent building which has 10,752 square feet of office and warehouse space on the ground floor plus second floor office and storage space. This location is being used for service will be used for further expansion. Rent is $11,750 per month and subject to a 3% increase per year. As of December 31, 2020, we occupied 1,700 square feet of office area, 32,000 square feet of warehouse space and 125,000 square feet of asphalt paving and undeveloped greenfield. The original lease expiring in 2021 has been extended until 2024. We believe that our current facilities are sufficient for our needs. On November 18, 2020, we entered into a lease for a 106 square foot space in Orlando Florida. The term of the lease is month to month which began on December 1, 2020 and auto renews each month unless one months’ notice of cancellation is given. Total rent is $2,490 per month. The space is being used for Arcimoto’s Florida dealer showroom. On February 8, 2021, we entered into a lease for a 15,124 square foot office space on the second floor of 155 Blair Boulevard, Eugene, Oregon 97402 that will be used for office and general use and warehouse space located at 135 Blair Boulevard, Eugene, Oregon 97402 that will be used for a dealer and rental location. The term of the lease is 60 months which began on March 1, 2020. There is an option for two successive five-year extension periods. Rent is $17,500 per month and subject to a 2.5% increase per year. See the following table for future annual minimum rent payments as of December 31, 2020: Remaining payments for years ending December 31: 2021 640,619 2022 543,246 2023 517,945 2024 340,840 2025 229,916 Thereafter 77,267 Total $ 2,349,833 Rent expense is recognized on a straight-line basis. Total rent expense for the three months ended March 31, 2021 and 2020 was $140,413 and $62,042, respectively. In February 2021, a statement of work for approximately $3,750,000 was signed with Munro and Associates for development activities through the end of the year to develop the FUV high volume production platform. Munro and Associates research and development expense invoiced in the three months ended March 31, 2021 was $874,500. Litigation On March 6, 2020, the Company filed a complaint (“the Complaint”) against Ayro, Inc. (“Ayro”), accusing Ayro of patent infringement in Federal District Court for the Western District of Texas, Waco Division (Case No. 6:20-cv-00176-ADA) (“the Ayro Litigation”). In the Complaint, Arcimoto alleged that Ayro’s 311 two-seater electric vehicles infringe U.S. Patent 8,985,255 (the “255 Patent”). The Complaint asked for monetary damages and enhanced damages due to willful infringement of the 255 Patent by Ayro. On March 27, 2020, Ayro answered the Complaint, denying liability and asserting counterclaims of noninfringement and patent invalidity. During the first quarter of 2021, the parties reached a settlement and submitted a request to the court to dismiss the case.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 13: INCOME TAXES The Company recorded a tax benefit of $2,938,848 for the period ended March 31, 2021 related to a partial release of its valuation allowance stemming from the acquisition of TMW (See Note 3). The acquisition of TMW created a deferred tax liability position, and those deferred tax liabilities can be used as a source of income for our existing deferred tax assets.

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 14: SUBSEQUENT EVENTS On April 19, 2021, the Company closed and completed the purchase of properties commonly known as 311 Chambers Street and 1480 West 3rd Avenue for the sum of $10,250,000. The Company also purchased and closed an additional property commonly known as 1593 W. 5th Ave. Eugene, Oregon for related purposes for the sum of $2,500,000. The $12,750,000 was paid in cash. Between April 9 and April 20, 2021, 15,000 employee warrants were exercised for cash at a grant price of $0.50 per share. Net proceeds to the Company were $7,500. Between April 29 and May 5, 2020, 10,333 employee incentive stock options were exercised for cash at grant prices ranging from $1.71 to $4.52. Net proceeds to the Company were $35,389.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
Accounting Policies, by Policy (Policies)	Mar. 31, 2021
Accounting Policies [Abstract]
Going Concern	Going Concern The accompanying financial statements have been prepared on a basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred significant losses since inception and management expects losses to continue for the foreseeable future. The Company had approximately $46,650,000 of cash as of March 31, 2021, which is in excess of cash needed for the next twelve months.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q promulgated by the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and disclosures required by GAAP for complete financial statement presentation. In the opinion of management, the accompanying condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 31, 2021, and the results of its operations for the three months ended March 31, 2021 and 2020 and its cash flows for the three months ended March 31, 2021 and 2020. Results for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2021.
Business Combinations	Business Combinations The Company accounts for business combinations under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805 “Business Combinations” using the acquisition method of accounting, and accordingly, the assets and liabilities of the acquired business are recorded at their fair values at the date of acquisition. The excess of the purchase price over the estimated fair value of the net assets acquired is recorded as goodwill. All acquisition costs are expensed as incurred. Upon acquisition, the acquired assets and liabilities and results of operations are consolidated beginning at the acquisition date.
Inventory	Inventory Inventory is stated at the lower of cost (using the first-in, first-out method (“FIFO”) or market value. Inventories consist of purchased electric motors, electrical storage and transmission equipment, and component parts. March 31, December 31, Raw materials $ 4,892,827 $ 4,667,780 Work in progress 59,078 65,210 Finished goods 690,919 371,078 Total $ 5,642,824 $ 5,104,068 The Company is required to remit partial prepayments for some purchases of its inventories acquired from overseas vendors which are included in prepaid inventories. The Company is currently selling vehicles below the base cost of a finished unit. Accordingly, the Company expensed all labor and overhead as period costs, and recorded an allowance to reduce inventories to net realizable value of approximately $593,000 and $550,000 as of March 31, 2021 and December 31, 2020, respectively.
Customer Deposits	Customer Deposits Non-refundable customer deposits are comingled with operating funds. Refundable customer deposits are held in a separate deposit account. Revenue is not recognized on customer deposits until the deposit is applied to a non-refundable vehicle order, the vehicle manufacturing process is completed, the vehicle is picked up by or delivered to the customer and the appropriate revenue recognition criteria have been met.
Intangible Assets	Intangible Assets Intangible assets primarily consist of trade names/trademarks, proprietary technology, and customer relationships. They are amortized using the straight-lined method over a period of 10 to 14 years. The Company assesses the recoverability of its finite-lived intangible assets when there are indications of potential impairment. Indefinite-lived intangible assets are evaluated for impairment annually.
Goodwill	Goodwill The Company tests goodwill for potential impairment at least annually, or more frequently if an event or other circumstance indicates that the Company may not be able to recover the carrying amount of the net assets of the reporting unit. In evaluating goodwill for impairment, the Company may assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount. If the Company bypasses the qualitative assessment, or if the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company performs a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount. The Company calculates the estimated fair value of a reporting unit using a weighting of the income and market approaches. For the income approach, the Company uses internally developed discounted cash flow models that include the following assumptions, among others: projections of revenues, expenses, and related cash flows based on assumed long-term growth rates and demand trends; expected future investments to grow new units; and estimated discount rates. For the market approach, the Company uses internal analyses based primarily on market comparables. The Company bases these assumptions on its historical data and experience, third party appraisals, industry projections, micro and macro general economic condition projections, and its expectations.
Net Earnings or Loss per Share	Net Earnings or Loss per Share The Company’s computation of earnings (loss) per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common shareholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., common stock warrants and common stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per common share is the same for all periods presented because all common stock warrants and common stock options outstanding were anti-dilutive. At March 31, 2021 and 2020, the Company excluded the outstanding Employee Equity Plans (“EEP”) and other securities summarized below calculated using the Treasury Stock Method, which entitled the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive. Three Months Ended 2021 2020 Options and other instruments under the 2012, 2015, and 2018 Plans to purchase common stock 3,094,548 431,746 Underwriters and investors warrants issued outside of an EEP 76,402 — Total 3,170,950 431,746
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequences of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s financial statements properly reflect the change. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”) which supersedes ASC Topic 840, Leases. ASU 2016-02 requires lessees to recognize a right-of-use asset and a lease liability on their balance sheets for all the leases with terms greater than 12 months. Based on certain criteria, leases will be classified as either financing or operating, with classification affecting the pattern of expense recognition in the income statement. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. In November 2019, the FASB delayed the effective date for Topic 842 to fiscal years beginning after December 15, 2020 for private companies and emerging growth companies, and interim periods within those years, with early adoption permitted. In June 2020, the FASB issued ASU No 2020-05 that further delayed the effective date of Topic 842 to fiscal years beginning after December 15, 2021. We will adopt this new standard on January 1, 2022. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. In July 2018, the FASB issued ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements” that allows entities to apply the provisions of the new standard at the effective date, as opposed to the earliest period presented under the modified retrospective transition approach and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The modified retrospective approach includes a number of optional practical expedients primarily focused on leases that commenced before the effective date of Topic 842, including continuing to account for leases that commence before the effective date in accordance with previous guidance, unless the lease is modified. The Company currently expects that most of its operating lease commitments will be subject to the new standard and recognized as operating lease liabilities and right-of-use assets upon its adoption of Topic 842, which will increase the total assets and total liabilities that the Company reports relative to such amounts prior to adoption.
Adoption of Recent Accounting Pronouncements	Adoption of Recent Accounting Pronouncements In October 2020, the FASB issued ASU 2020-10, “Codification Improvements” (“ASU 2020-10”), which updates various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. The effective date of the standard will be for interim and annual reporting periods beginning after December 15, 2020 for public entities. The new guidance was effective upon issuance of this final accounting standards update. The Company has adopted this standard and the adoption did not have a material impact on its condensed consolidated financial statements or disclosures.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of inventory	March 31, December 31, Raw materials $ 4,892,827 $ 4,667,780 Work in progress 59,078 65,210 Finished goods 690,919 371,078 Total $ 5,642,824 $ 5,104,068
Schedule of earnings per share anti-dilutive	Three Months Ended 2021 2020 Options and other instruments under the 2012, 2015, and 2018 Plans to purchase common stock 3,094,548 431,746 Underwriters and investors warrants issued outside of an EEP 76,402 — Total 3,170,950 431,746

TMW Acquisition (Tables)

TMW Acquisition (Tables)	3 Months Ended
TMW Acquisition (Tables)	Mar. 31, 2021
Business Combinations [Abstract]
Schedule of purchase price	Cash $ 1,754,083 Add: Fair value of shares issued 13,038,355 Total consideration $ 14,792,438 Description Fair value Assets acquired: Inventory $ 342,394 Prepaid expenses and other current assets 4,083 Property, plant, and equipment 4,349 Trade name 2,052,000 Proprietary technology 7,010,000 Customer relationships 1,586,000 Goodwill 6,824,209 Total assets acquired $ 17,823,035 Liabilities assumed: Customer deposits $ 91,749 Deferred tax liability 2,938,848 Total liabilities assumed 3,030,597 Estimated fair value of net assets acquired $ 14,792,438
Schedule of proforma financial information	For the Three Months Ended 2021 2020 Revenues $ 1,403,954 $ 828,660 Net loss attributable to common stockholders $ (7,911,783 ) $ (3,860,541 ) Net loss per basic and diluted common share $ (0.22 ) $ (0.15 ) Weighted average common shares outstanding: Basic and diluted 35,327,316 24,916,784

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
Property and Equipment (Tables)	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	March 31, December 31, Machinery and equipment $ 5,245,534 $ 5,245,534 Fixed assets in process 2,105,561 1,993,760 Leasehold improvements 983,522 983,522 FUV fleet 520,354 336,730 FUV rental fleet 115,124 — Computer equipment and software 188,984 94,384 Vehicles 97,661 — Furniture and fixtures 52,007 52,007 Total property and equipment 9,308,747 8,705,937 Less: Accumulated depreciation (2,359,587 ) (2,060,707 ) Total $ 6,949,160 $ 6,645,230

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
Intangible Assets (Tables)	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	March 31, 2021 Estimated Gross Assets Accumulated Net Book Tradename and trademarks 14 years $ — $ 2,052,000 $ (22,684 ) $ 2,029,316 Proprietary technology 13 years — 7,010,000 (83,452 ) 6,926,548 Customer relationships 10 years — 1,586,000 (24,545 ) 1,561,455 $ — $ 10,648,000 $ (130,681 ) $ 10,517,319

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
Goodwill (Tables)	Mar. 31, 2021
Disclosure Text Block Supplement [Abstract]
Schedule of goodwill	Total Balance as of January 1, 2021 $ — Goodwill additions through Tilting Motor Works acquisition 6,824,209 Less: impairment charge recorded — Balance as of March 31, 2021 $ 6,824,209

Stock-Based Payments (Tables)

Stock-Based Payments (Tables)	3 Months Ended
Stock-Based Payments (Tables)	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation, including stock-options, warrants and stock issued for compensation and services	Three Months Ended 2021 2020 Research and development $ 162,447 $ 53,700 Sales and marketing 98,589 21,157 General and administrative 218,623 163,884 Cost of goods sold 180,520 66,224 Total $ 660,479 $ 304,965

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rent payments by year	Remaining payments for years ending December 31: 2021 640,619 2022 543,246 2023 517,945 2024 340,840 2025 229,916 Thereafter 77,267 Total $ 2,349,833

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
Cash and cash equivalents	$ 46,650,143	$ 39,451,401
Inventory scrap	$ 593,000	$ 550,000
Percentage of fair value of reporting unit in excess of carrying amount	50.00%
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets amortized useful life	10 years
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets amortized useful life	14 years

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of inventory - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Schedule of inventory [Abstract]
Raw materials	$ 4,892,827	$ 4,667,780
Work in progress	59,078	65,210
Finished goods	690,919	371,078
Total	$ 5,642,824	$ 5,104,068

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of earnings per share anti-dilutive - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,170,950	431,746
Options and other instruments under the 2012, 2015, and 2018 Plans to purchase common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,094,548	431,746
Underwriters and investors warrants issued outside of an EEP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	76,402

TMW Acquisition (Details)

TMW Acquisition (Details)	1 Months Ended
TMW Acquisition (Details)	Jan. 23, 2021USD ($)shares
Business Combinations [Abstract]
Cash paid \| $	$ 1,754,083
Issued shares of common stock \| shares	436,339
Date of acquisition	12.50%

TMW Acquisition (Details) - Sch

TMW Acquisition (Details) - Schedule of purchase price - USD ($)	Feb. 04, 2021	Mar. 31, 2021	Dec. 31, 2020
Schedule of purchase price [Abstract]
Cash	$ 1,754,083
Add: Fair value of shares issued (in Shares)	13,038,355
Total consideration	$ 14,792,438
Assets acquired:
Inventory	342,394
Prepaid expenses and other current assets	4,083
Property, plant, and equipment	4,349
Trade name	2,052,000
Proprietary technology	7,010,000
Customer relationships	1,586,000
Goodwill	6,824,209	$ 6,824,209
Total assets acquired	17,823,035
Liabilities assumed:
Customer deposits	91,749
Deferred tax liability	2,938,848
Total liabilities assumed	3,030,597
Estimated fair value of net assets acquired	$ 14,792,438

TMW Acquisition (Details) - S_2

TMW Acquisition (Details) - Schedule of proforma financial information - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Schedule of proforma financial information [Abstract]
Revenues	$ 1,403,954	$ 828,660
Net loss attributable to common stockholders	$ (7,911,783)	$ (3,860,541)
Net loss per basic and diluted common share (in Dollars per share)	$ (0.22)	$ (0.15)
Weighted average common shares outstanding:
Basic and diluted (in Shares)	35,327,316	24,916,784

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	1 Months Ended	3 Months Ended
Property and Equipment (Details) - USD ($)	Dec. 23, 2020	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense		$ 299,000	$ 208,000
Purchase of assets, description	the Company entered into an agreement to purchase certain buildings totaling approximately 187,000 square feet, and approximately 6.6 acres of real estate located within the City of Eugene, Oregon. The Company has agreed to purchase the properties commonly known as 311 Chambers Street and 1480 West 3rd Avenue, from RLA Holdings, LLC for the total purchase price of $10,250,000. The Company pledged $80,000 as earnest money for the transaction. During the first quarter of 2021, an additional 4.1 acres and 33,000 square feet of buildings to the south were added to the purchase agreement totaling $2,500,000. The total sales price was increased to $12,750,000. The purchase was contingent upon the Company’s complete and unconditional approval of: (i) the property and its physical condition, zoning and land use restrictions, and all systems, utilities, and access rights pertaining to the property; (ii) the seller’s documents; (iii) securing financing; (iv) a Phase I environmental assessment and all appropriate inquiries investigation so as to protect the Company under CERCLA; and (v) anything else the Company deems necessary. On March 15, 2021, the due diligence was complete and the Company paid the $80,000 earnest money. On April 19, 2021, the Company closed and completed the purchase of the properties described above. RLA Holdings, LLC will be permitted to rent back the 311 Chambers St property after closing for up to six (6) months at a rate of $50,000 per month plus all utilities, taxes, insurance, and maintenance expenses. The Company intends to utilize these properties to improve its production capabilities.

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 9,308,747	$ 8,705,937
Less: Accumulated depreciation	(2,359,587)	(2,060,707)
Total	6,949,160	6,645,230
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	5,245,534	5,245,534
Fixed assets in process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,105,561	1,993,760
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	983,522	983,522
FUV fleet [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	520,354	336,730
FUV rental fleet [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	115,124
Computer equipment and software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	188,984	94,384
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	97,661
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 52,007	$ 52,007

Intangible Assets (Details) - S

Intangible Assets (Details) - Schedule of intangible assets	3 Months Ended
Intangible Assets (Details) - Schedule of intangible assets	Mar. 31, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount
Assets Acquired Pursuant to Business Combination	10,648,000	[1]
Accumulated Amortization	(130,681)
Net Book Value	$ 10,517,319
Tradename and trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	14 years
Gross Carrying Amount
Assets Acquired Pursuant to Business Combination	2,052,000	[1]
Accumulated Amortization	(22,684)
Net Book Value	$ 2,029,316
Proprietary technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	13 years
Gross Carrying Amount
Assets Acquired Pursuant to Business Combination	7,010,000	[1]
Accumulated Amortization	(83,452)
Net Book Value	$ 6,926,548
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	10 years
Gross Carrying Amount
Assets Acquired Pursuant to Business Combination	1,586,000	[1]
Accumulated Amortization	(24,545)
Net Book Value	$ 1,561,455

[1]	On January 23, 2021 the Company acquired various assets of Tilting Motor Works, Inc. (See Note 3)

Goodwill (Details) - Schedule o

Goodwill (Details) - Schedule of goodwill	3 Months Ended
Goodwill (Details) - Schedule of goodwill	Mar. 31, 2021USD ($)
Schedule of goodwill [Abstract]
Balance as of January 1, 2021
Goodwill additions through Tilting Motor Works acquisition	6,824,209
Less: impairment charge recorded
Balance as of March 31, 2021	$ 6,824,209

Capital Lease Obligations (Deta

Capital Lease Obligations (Details) - USD ($)	3 Months Ended
Capital Lease Obligations (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Capital Lease Obligations (Details) [Line Items]
Purchase of capital equipment	$ 1,250,000
Capital lease payments	$ 25,223
Lease obligations maturity, description	These lease obligations mature ranging from December 2021
Underlying assets	$ 1,427,000
Accumulated depreciation	475,000
Capital lease obligations	594,000	$ 781,000
Minimum [Member]
Capital Lease Obligations (Details) [Line Items]
Purchase of capital equipment	$ 437
Repayment financial term	48 months
Effective interest rates	4.52%
Maximum [Member]
Capital Lease Obligations (Details) [Line Items]
Purchase of capital equipment	$ 8,582
Repayment financial term	60 months
Effective interest rates	9.52%

Notes Payable (Details)

Notes Payable (Details) - USD ($)	May 05, 2020	Apr. 27, 2021	Mar. 31, 2021
Notes Payable (Details) [Line Items]
Description of note convertible	the Company received a Paycheck Protection Program (“PPP”) loan in the amount of $1,068,686, referred to on the balance sheet as Note payable to bank. The loan has an interest rate of 1% and monthly payments of $60,154 for 18 months beginning December 5, 2020.		the Company has financed a total of approximately $2,440,000 of its capital equipment purchases with monthly payments ranging from $362 to $11,749, repayment terms ranging from 60 to 72 months, and effective interest rates ranging from 1.99% to 9.90%. Total monthly payments as of March 31, 2021 are $47,376. These equipment notes mature ranging from January 2023 through October 2026. The balance of equipment financing notes payable was approximately $1,832,000 and $1,590,000 as of March 31, 2021 and December 31, 2020, respectively.
Balance loan			$ 1,068,686
Subsequent Event [Member]
Notes Payable (Details) [Line Items]
Outstanding principal forgiven amount		$ 1,068,686
Interest forgiven amount		$ 10,568

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
Stockholders’ Equity (Details) - USD ($)	Jan. 25, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized		1,500,000		1,500,000
Reserved shares of common stock equity incentive plans		4,876,580
Issuance of common stock shares		11,000	32,749
Fair value of common stock (in Dollars)		$ 146,300	$ 56,328
Equity Distribution Agreement [Member]
Stockholders’ Equity (Details) [Line Items]
Aggregate gross proceeds (in Dollars)	$ 80,000,000
ATM [Member]
Stockholders’ Equity (Details) [Line Items]
Aggregate shares of common stock	581,782
Aggregate net proceeds (in Dollars)		$ 13,500,000
ATM [Member] \| Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
Purchase price per share (in Dollars per share)		$ 19.35
ATM [Member] \| Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Purchase price per share (in Dollars per share)		$ 32.50
Equity Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Reserved shares of common stock equity incentive plans		122,238		593,667
Options and warrants outstanding (in Dollars)		$ 3,938,824		$ 4,058,791
Employee Stock Option [Member]
Stockholders’ Equity (Details) [Line Items]
Stock option exercised		54,985
Proceeds from stock option exercised (in Dollars)		$ 127,987
Employee Stock Option [Member] \| Minimum [Member]
Stockholders’ Equity (Details) [Line Items]
Exercise price (in Dollars per share)		$ 1.71
Employee Stock Option [Member] \| Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Exercise price (in Dollars per share)		$ 4.52
Employee Stock Option [Member] \| Warrants [Member]
Stockholders’ Equity (Details) [Line Items]
Stock option exercised		15,000
Proceeds from stock option exercised (in Dollars)		$ 7,500
Warrants exercise price (in Dollars per share)		$ 0.50
Employee Stock Option One [Member]
Stockholders’ Equity (Details) [Line Items]
Stock option exercised		471,429
Exercise price (in Dollars per share)		$ 3.50
Proceeds from stock option exercised (in Dollars)		$ 1,650,001
Series A-1 Preferred Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized		1,500,000		1,500,000
Conversion provisions upon an initial public offering (in Dollars)		$ 15,000,000
Fair value of common stock (in Dollars)
Class C Preferred Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Preferred stock, shares authorized		2,000,000		2,000,000
Preferred stock, shares designated		2,000,000
Fair value of common stock (in Dollars)

Stock-Based Payments (Details)

Stock-Based Payments (Details) - USD ($)	1 Months Ended	3 Months Ended
Stock-Based Payments (Details) - USD ($)	Apr. 20, 2020	Mar. 31, 2021	Mar. 31, 2020
Stock-Based Payments (Details) [Line Items]
Options authorized		11,000	32,749
Description of stock-based compensation		Total compensation cost related to non-vested awards issued under the 2018 Plan not yet recognized as of March 31, 2021 was approximately $4,380,134 and will be recognized on a straight-line basis through December 2023 based on the respective vesting periods. The amount of future stock option compensation expense could be affected by any future option grants or forfeitures.
2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments (Details) [Line Items]
Options authorized		1,000,000
Additional shares of common stock		1,000,000
Remaining reserve of shares of common stock under plan		932,311
Employee stock-based compensation expense (in Dollars)		$ 638,907	$ 267,641
Minimum [Member] \| 2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments (Details) [Line Items]
Additional shares of common stock	2,000,000
Maximum [Member] \| 2018 Omnibus Stock Incentive Plan [Member]
Stock-Based Payments (Details) [Line Items]
Additional shares of common stock	4,000,000

Stock-Based Payments (Details)

Stock-Based Payments (Details) - Schedule of stock-based compensation, including stock-options, warrants and stock issued for compensation and services - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 660,479	$ 304,965
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	162,447	53,700
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	98,589	21,157
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	218,623	163,884
Cost of goods sold [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 180,520	$ 66,224

Customer Deposits (Details)

Customer Deposits (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Customer Deposits (Details) [Line Items]
Deposits received	$ 616,173	$ 605,532
Refundable deposits amount	409,724	$ 403,624
Customer deposits from related parties	100
Retail Series Production Vehicles [Member] \| Minimum [Member]
Customer Deposits (Details) [Line Items]
Customer deposits per order	100
Retail Series Production Vehicles [Member] \| Maximum [Member]
Customer Deposits (Details) [Line Items]
Customer deposits per order	$ 500

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Dec. 31, 2021m²	Feb. 08, 2021	Feb. 28, 2021USD ($)	Mar. 06, 2020	Mar. 31, 2021USD ($)m²	Mar. 31, 2020USD ($)ft²	Nov. 18, 2020ft²	Mar. 03, 2020m²
Commitments and Contingencies Disclosure [Abstract]
Office lease	1,700					6,508	106	10,752
Warehouse space \| m²	32,000				4,318
Rent					$ 11,750
Rent expenses percentage					3.00%
Asphalt paving and undeveloped greenfield space \| m²	125,000
Office lease, description		we entered into a lease for a 15,124 square foot office space on the second floor of 155 Blair Boulevard, Eugene, Oregon 97402 that will be used for office and general use and warehouse space located at 135 Blair Boulevard, Eugene, Oregon 97402 that will be used for a dealer and rental location. The term of the lease is 60 months which began on March 1, 2020. There is an option for two successive five-year extension periods. Rent is $17,500 per month and subject to a 2.5% increase per year.
Rent expense					$ 140,413	$ 62,042
Munro work space expenses			$ 3,750,000
Associates research and development expense					$ 2,407,695	$ 448,974
Commitments and contingencies, description				Arcimoto alleged that Ayro’s 311 two-seater electric vehicles infringe U.S. Patent 8,985,255 (the “255 Patent”). The Complaint asked for monetary damages and enhanced damages due to willful infringement of the 255 Patent by Ayro.

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of future minimum rent payments by year	Mar. 31, 2021USD ($)
Schedule of future minimum rent payments by year [Abstract]
2021	$ 640,619
2022	543,246
2023	517,945
2024	340,840
2025	229,916
Thereafter	77,267
Total	$ 2,349,833

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2021USD ($)
Income Tax Disclosure [Abstract]
Income tax benefit	$ (2,938,848)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	May 05, 2021	Apr. 21, 2021	Apr. 19, 2021
Subsequent Events (Details) [Line Items]
Subsequent event, description			the Company closed and completed the purchase of properties commonly known as 311 Chambers Street and 1480 West 3rd Avenue for the sum of $10,250,000. The Company also purchased and closed an additional property commonly known as 1593 W. 5th Ave. Eugene, Oregon for related purposes for the sum of $2,500,000. The $12,750,000 was paid in cash.
Investor exercised warrants (in Shares)		15,000
Investor exercised warrants		$ 0.50
Net proceeds (in Dollars)		$ 7,500
Sale of stock (in Shares)	10,333
Total gross proceeds (in Dollars)	$ 35,389
Minimum [Member]
Subsequent Events (Details) [Line Items]
Average price per share	$ 1.71
Maximum [Member]
Subsequent Events (Details) [Line Items]
Average price per share	$ 4.52