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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2025
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,
2025202420252024
North America(1)
$218,369 $155,090 $441,267 $269,846 
Middle East(2)
36,643 40,649 44,457 95,231 
Other international
4,420 4,842 8,756 8,244 
Total revenue
$259,432 $200,581 $494,480 $373,321 
(1) United States revenue was $212.7 million and $431.1 million for the three and six months ended June 30, 2025, respectively, and $153.0 million and $266.9 million for the same periods in the prior year, respectively.
(2) Kingdom of Saudi Arabia revenue was $35.9 million and $43.4 million for the three and six months ended June 30, 2025, respectively. Middle East represented revenue from Kingdom of Saudi Arabia for the three and six months ended June 30, 2024.
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, 2025
2025202420252024
Revenue
$259,432 $200,581 $494,480 $373,321 
Less:
Cost of revenue - excluding LCNRV and provision for warranty
(332,144)(268,036)(631,756)(514,856)
Cost of revenue - LCNRV(184,679)(154,168)(336,315)(291,989)
Cost of revenue - provision for warranty
(14,960)(48,151)(27,272)(68,306)
Research and development expenses
(273,839)(287,170)(525,085)(571,797)
Selling, general, and administrative expenses
(256,857)(210,245)(469,032)(423,477)
Restructuring charges
— (20,228)— (20,228)
Change in fair value of common stock warrant liability
5,322 7,539 18,183 34,593 
Change in fair value of equity securities
3,948 (9,390)(9,505)(29,323)
Change in fair value of derivative liabilities associated with redeemable convertible preferred stock (related party)
111,475 103,000 393,175 103,000 
Gain on extinguishment of debt116,360 — 116,360 — 
Interest income
44,318 54,553 96,527 105,184 
Interest expense
(23,749)(6,673)(35,632)(14,174)
Other income (expense), net3,572 (5,067)6,537 (6,074)
Benefit from (provision for) income taxes
2,369 65 3,732 (123)
Segment net loss
(539,432)(643,390)(905,603)(1,324,249)
Consolidated net loss
$(539,432)$(643,390)$(905,603)$(1,324,249)
Depreciation and amortization expenses were $111.1 million and $209.0 million for the three and six months ended June 30, 2025, respectively, and $66.2 million and $135.0 million for the same periods in the prior year, respectively.
The long-lived assets by geographic area were as follows (in thousands):
June 30,
2025		December 31,
2024
United States$3,410,362 $3,314,720 
Foreign393,707 159,778 
Total long-lived assets$3,804,069 $3,474,498