Arcimoto Acquires Tilting Motor Works

Arcimoto, Inc. (NASDAQ: FUV) has reached an agreement to acquire the assets of Tilting Motor Works, the maker of the patented TRiO tilting trike conversion kit, in a deal valued at approximately $9.25 million to $10.25 million in cash and Arcimoto shares. The acquisition will provide Arcimoto with core tilting-trike technology to accelerate development of new micromobility products and strengthen its vehicle platform offerings.