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STOCK BASED COMPENSATION EXPENSE (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The Company calculates the fair value of each option grant on the grant date using the following assumptions:
Expected Term - The Company uses the simplified method when calculating expected term due to insufficient historical exercise data.
Expected Volatility - As the Company’s shares have limited history, the volatility is based on a benchmark of comparable companies within the automotive and energy storage industries.
Expected Dividend Yield - The dividend rate used is zero as the Company does not have a history of paying dividends on its common stock and does not anticipate doing so in the foreseeable future.
Risk-Free Interest Rate - The interest rates used are based on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent remaining term equal to the expected life of the award.
As of
September 30, 2020December 31, 2019
Exercise price
$3.58 - $9.66
$1.05 – $3.58
Risk-free interest rate
0.2% - 1.7%
1.4% – 2.7%
Expected term (in years)
0.5 – 6.3
5.0 – 6.3
Expected dividend yield——
Expected volatility
83.6% - 85.8%
70.0% – 85.1%
Share-based Payment Arrangement, Option, Activity
Changes in stock options are as follows:
OptionsWeighted
Average
Exercise Price
Per share		Weighted Average
Remaining
Contractual Term
(Years)
Outstanding at December 31, 201940,012,825 $1.08 8.78
Granted1,582,496 $5.30 
Exercised2,081,577 $1.06 
Cancelled177,504 $1.44 
Outstanding at September 30, 202039,336,240 $1.26 8.09
Vested and exercisable as of September 30, 202036,542,071 $1.20 8.06
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award Changes in RSUs are as follows:
RSUs
Non-vested RSUs at December 31, 2019
— 
Granted3,393,970 
Released— 
Cancelled2,170 
Non-vested RSUs at September 30, 2020
3,391,800 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following table presents the impact of stock-based compensation expense on the consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Research and development$4,612 $157 $7,850 $462 
Selling, general, and administrative47,584 1,028 83,886 3,310 
Total stock-based compensation expense$52,196 $1,185 $91,736 $3,772