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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company operates in one reportable segment, as the CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. The Company’s CODM is its Chief Executive Officer. The Company derives segment revenue primarily from the sale of EVs to customers, and the Company’s reported measure of the segment’s profit or loss is the consolidated net loss reported in the condensed consolidated statements of operations and comprehensive loss. The CODM uses the consolidated net loss for monitoring actual results to assess the Company’s financial performance. The Company’s CODM does not evaluate its reportable segment using asset information.
The disaggregation of the Company’s revenue by geographic area based on the sales location where the sales originated was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
North America(1)
$293,218 $218,369 $526,013 $441,267 
Middle East(2)
98,232 36,643 140,481 44,457 
Other international
13,897 4,420 21,318 8,756 
Total revenue
$405,347 $259,432 $687,812 $494,480 
(1) U.S. revenue was $284.4 million and $509.7 million for the three and six months ended June 30, 2026, respectively, and $212.7 million and $431.1 million for the same periods in the prior year, respectively.
(2) Kingdom of Saudi Arabia revenue was $98.2 million and $140.2 million for the three and six months ended June 30, 2026, respectively, and $35.9 million and $43.4 million for the same periods in the prior year, respectively.
The following table included information about reported segment revenue, segment profit or loss, and significant segment expenses (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue
$405,347 $259,432 $687,812 $494,480 
Less:
Cost of revenue - excluding LCNRV and provision for warranty
(514,194)(332,144)(851,400)(631,756)
Cost of revenue - LCNRV(299,706)(184,679)(537,559)(336,315)
Cost of revenue - provision for warranty
(18,172)(14,960)(37,283)(27,272)
Research and development expenses
(321,336)(273,839)(657,006)(525,085)
Selling, general, and administrative expenses
(300,432)(256,857)(604,608)(469,032)
Workforce reduction charges
(33,675)— (71,609)— 
Change in fair value of common stock warrant liability
— 5,322 — 18,183 
Change in fair value of equity securities
549 3,948 (9,672)(9,505)
Change in fair value of derivative liabilities and subscription agreements associated with redeemable convertible preferred stock (related party)102,790 111,475 110,165 393,175 
Gain on extinguishment of debt— 116,360 — 116,360 
Interest income
9,634 44,318 22,738 96,527 
Interest expense
(47,817)(23,749)(88,890)(35,632)
Other income (expense), net(16,789)3,572 (24,656)6,537 
Benefit from (provision for) income taxes(1,050)2,369 (1,227)3,732 
Segment net loss
(1,034,851)(539,432)(2,063,195)(905,603)
Consolidated net loss
$(1,034,851)$(539,432)$(2,063,195)$(905,603)
Depreciation and amortization expenses were $122.2 million and $238.6 million for the three and six months ended June 30, 2026, respectively, and $111.1 million and $209.0 million for the same periods in the prior year, respectively.
The long-lived assets by geographic area were as follows (in thousands):
June 30,
2026		December 31,
2025
United States$3,510,683 $3,487,142 
Foreign(1)
961,177 732,964 
Total long-lived assets$4,471,860 $4,220,106 
(1) Kingdom of Saudi Arabia long-lived assets balance was $899.1 million and $658.6 million as of June 30, 2026 and December 31, 2025. No other individual foreign country had more than 10% of the total long-lived assets balance as of June 30, 2026 and December 31, 2025.