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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss before taxes is comprised as follows:

			December 31, 2021						December 31, 2020
Domestic (Israel)			$	(498,242)					$	(67,713)
Foreign			(5,807)						*)
Total			$	(504,049)					$	(67,713)

*) Represents less than $1.

Schedule of Deferred Tax Assets and Liabilities

The following table presents the significant components of the Company’s deferred tax assets:

			December 31, 2021						December 31, 2020
Deferred tax assets:
Operating loss carryforward			$	22,723					$	7,660
Share based compensation			98,396						—
Research and development			5,586						1,532
Accrued social benefits and other			366						217
Deferred tax asset before valuation allowance			$	127,071					$	9,409
Valuation allowance			$	(126,898)					(9,409)
Total deferred tax assets			$	173					$	—
Fixed Assets			(173)						—
Deferred tax liabilities			$	(173)					$	—
Net deferred taxes			$	—					$	—

Schedule of Components of Income Tax Expense (Benefit)

Income taxes are comprised as follows:

			December 31, 2021						December 31, 2020
Current			$	1,281					$	—
Deferred			—						—
			$	1,281					$	—
			December 31, 2021						December 31, 2020
Domestic			$	—					$	—
Foreign			1,281						—
			$	1,281					$	—

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the opening and closing amounts of total unrecognized tax benefits is as follows:

			December 31, 2021						December 31, 2020
Opening balance			$	—					$	—
Tax positions taken in current year			856						—
Interest			—						—
Ending Balance			$	856					$	—

Summary of Operating Loss Carryforwards

As of December 31, 2021, the Company and it’s subsidiaries had net operating carry forward losses for tax purposes which may be carried forward and offset against taxable income in the future for an indefinite period.

Name of Subsidiary			Net Operating Loss Carryforwards
REE Automotive Ltd			$	(98,245)
REE Automotive UK Limited			$	(353)
REE Automotive Holdings Inc. (1)			$	(152)
REE Automotive Japan K.K.			$	(6)

NOTE 11. INCOME TAXES (cont.)

(1) Utilization of the U.S. net operating losses may be subject to substantial annual limitation due to the “change in ownership” provisions of the Internal Revenue Code of 1986 and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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