Nikola (0A3R) 10-Q 4 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 30, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-38495
Entity Registrant Name	Nikola Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4151153
Entity Address, Address Line One	4141 E Broadway Road
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85040
City Area Code	480
Local Phone Number	666-1038
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		378,980,941
Entity Central Index Key	0001731289
Document Fiscal Year Focus	2020
Amendment Flag	false
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Common stock, $0.0001 par value per share
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	NKLA
Security Exchange Name	NASDAQ
Warrants to purchase common stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	NKLAW
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 698,386	$ 85,688
Restricted cash and cash equivalents	8,896	0
Accounts receivable, net	424	770
Prepaid in-kind services	60,000	0
Prepaid expenses and other current assets	4,672	4,423
Total current assets	772,378	90,881
Restricted cash and cash equivalents	0	4,144
Long-term deposits	10,328	13,223
Property and equipment, net	59,856	53,378
Intangible assets, net	62,481	62,513
Goodwill	5,238	5,238
Prepaid in-kind services and other assets	14,759	53
Total assets	925,040	229,430
Current liabilities
Accounts payable	7,575	5,113
Accrued expenses and other current liabilities	13,952	11,425
Customer deposits	4,982	0
Term note, current	4,100	0
Total current liabilities	30,609	16,538
Term note	0	4,100
Other long-term liabilities	11,762	12,212
Deferred tax liabilities, net	1,074	1,072
Total liabilities	43,445	33,922
Commitments and contingencies (Note 11)
Stockholders' equity
Preferred stock, $0.0001 par value, 150,000,000 shares authorized, no shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	0	0
Common stock, $0.0001 par value, 600,000,000 shares authorized, 360,910,639 and 270,826,092 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	36	27
Additional paid-in capital	1,189,845	383,961
Accumulated deficit	(308,286)	(188,480)
Total stockholders' equity	881,595	195,508
Total liabilities and stockholders' equity	$ 925,040	$ 229,430

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Stockholders' equity
Preferred stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	150,000,000	150,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par or stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	360,910,639	270,826,092
Common stock, shares outstanding (in shares)	360,910,639	270,826,092

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Solar revenues	$ 36	$ 13	$ 95	$ 137
Cost of solar revenues	30	24	72	86
Gross profit (loss)	6	(11)	23	51
Operating expenses:
Research and development	42,501	11,854	66,619	35,251
Selling, general, and administrative	44,147	5,344	52,061	11,845
Total operating expenses	86,648	17,198	118,680	47,096
Loss from operations	(86,642)	(17,209)	(118,657)	(47,045)
Other income (expense):
Interest income, net	23	338	87	671
Revaluation of Series A redeemable convertible preferred stock warrant liability	0	98	0	(495)
Loss on forward contract liability	0	0	(1,324)	0
Other income (expense), net	(23)	9	90	10
Loss before income taxes	(86,642)	(16,764)	(119,804)	(46,859)
Income tax expense	1	2	2	4
Net loss	(86,643)	(16,766)	(119,806)	(46,863)
Less: Premium on repurchase of redeemable convertible preferred stock	(13,407)	0	(13,407)	0
Net loss attributable to common stockholder, basic	(100,050)	(16,766)	(133,213)	(46,863)
Net loss attributable to common stockholder, diluted	$ (100,050)	$ (16,766)	$ (133,213)	$ (46,863)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.33)	$ (0.06)	$ (0.46)	$ (0.18)
Weighted-average shares used to compute net loss per share to common stockholders, basic and diluted (in shares)	303,785,616	260,406,343	287,822,558	260,406,343

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Previously Reported	Previously ReportedCommon Stock	Previously ReportedAdditional Paid-in Capital	Previously ReportedAccumulated Deficit	Revision of Prior Period, Adjustment	Revision of Prior Period, AdjustmentCommon Stock	Revision of Prior Period, AdjustmentAdditional Paid-in Capital	Revision of Prior Period, AdjustmentAccumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2018		0							76,817,224				(76,817,224)
Balance at beginning of period at Dec. 31, 2018		$ 0							$ 278,062				$ (278,062)
Balance at end of period (in shares) at Jun. 30, 2019		0
Balance at end of period at Jun. 30, 2019		$ 0
Balance at beginning of period (in shares) at Dec. 31, 2018				260,406,343						60,166,667				200,239,676
Balance at beginning of period at Dec. 31, 2018		186,240	$ 0	$ 26	$ 284,779	$ 162	$ (98,565)	$ (162)	$ (91,822)	$ 1	$ 6,742	$ (98,565)	$ 278,062	$ 25	$ 278,037	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		2,587			2,587
Net loss		(46,863)					(46,863)
Balance at end of period (in shares) at Jun. 30, 2019				260,406,343
Balance at end of period at Jun. 30, 2019		$ 141,964		$ 26	287,528		(145,590)
Balance at beginning of period (in shares) at Mar. 31, 2019		0							76,817,224				(76,817,224)
Balance at beginning of period at Mar. 31, 2019		$ 0							$ 278,062				$ (278,062)
Balance at end of period (in shares) at Jun. 30, 2019		0
Balance at end of period at Jun. 30, 2019		$ 0
Balance at beginning of period (in shares) at Mar. 31, 2019				260,406,343						60,166,667				200,239,676
Balance at beginning of period at Mar. 31, 2019		157,296		$ 26	286,094		(128,824)		$ (120,766)	$ 1	8,057	(128,824)	$ 278,062	$ 25	278,037	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		1,434			1,434
Net loss		(16,766)					(16,766)
Balance at end of period (in shares) at Jun. 30, 2019				260,406,343
Balance at end of period at Jun. 30, 2019		$ 141,964		$ 26	287,528		(145,590)
Balance at beginning of period (in shares) at Dec. 31, 2019		0							82,297,742				(82,297,742)
Balance at beginning of period at Dec. 31, 2019		$ 0							$ 383,987				$ (383,987)
Balance at end of period (in shares) at Jun. 30, 2020		0
Balance at end of period at Jun. 30, 2020		$ 0
Balance at beginning of period (in shares) at Dec. 31, 2019				270,826,092						60,167,334				210,658,758
Balance at beginning of period at Dec. 31, 2019		195,508		$ 27	383,961		(188,480)		$ (188,479)	$ 1	0	(188,480)	$ 383,987	$ 26	383,961	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Series D redeemable convertible preferred stock, net of issuance costs (in shares)	[1]			6,581,340
Issuance of Series D redeemable convertible preferred stock, net of issuance costs	[1]	56,250		$ 1	56,249
Issuance of Series D redeemable convertible preferred stock for in-kind contribution (in shares)	[1]			9,443,353
Issuance of Series D redeemable convertible preferred stock for in-kind contribution	[1]	91,999		$ 1	91,998
Business Combination and PIPE financing (in shares)				72,272,942
Business Combination and PIPE financing		$ 616,220		$ 7	616,213
Exercise of stock options (in shares)		1,786,912		1,786,912
Exercise of stock options		$ 1,884			1,884
Stock-based compensation		39,540			39,540
Net loss		(119,806)					(119,806)
Balance at end of period (in shares) at Jun. 30, 2020				360,910,639
Balance at end of period at Jun. 30, 2020		$ 881,595		$ 36	1,189,845		(308,286)
Balance at beginning of period (in shares) at Mar. 31, 2020		0							84,095,913				(84,095,913)
Balance at beginning of period at Mar. 31, 2020		$ 0							$ 414,664				$ (414,664)
Balance at end of period (in shares) at Jun. 30, 2020		0
Balance at end of period at Jun. 30, 2020		$ 0
Balance at beginning of period (in shares) at Mar. 31, 2020				274,245,640						60,167,980				214,077,660
Balance at beginning of period at Mar. 31, 2020		194,337		$ 27	415,953		(221,643)		$ (220,327)	$ 1	$ 1,315	$ (221,643)	$ 414,664	$ 26	$ 414,638	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Series D redeemable convertible preferred stock, net of issuance costs (in shares)	[2]			5,215,933
Issuance of Series D redeemable convertible preferred stock, net of issuance costs	[2]	45,573		$ 1	45,572
Issuance of Series D redeemable convertible preferred stock for in-kind contribution (in shares)	[2]			7,390,436
Issuance of Series D redeemable convertible preferred stock for in-kind contribution	[2]	71,999		$ 1	71,998
Business Combination and PIPE financing (in shares)				72,272,942
Business Combination and PIPE financing		616,220		$ 7	616,213
Exercise of stock options (in shares)				1,785,688
Exercise of stock options		1,882			1,882
Stock-based compensation		38,227			38,227
Net loss		(86,643)					(86,643)
Balance at end of period (in shares) at Jun. 30, 2020				360,910,639
Balance at end of period at Jun. 30, 2020		$ 881,595		$ 36	$ 1,189,845		$ (308,286)
[1]	Issuance of Series D redeemable convertible preferred stock has been retroactively restated to give effect to the recapitalization transaction.
[2]	Issuance of Series D redeemable convertible preferred stock has been retroactively restated to give effect to the recapitalization transaction.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Statement) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (119,806)	$ (46,863)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,812	446
Stock-based compensation	39,540	2,587
Revaluation of Series A redeemable convertible preferred stock warrant liability	0	495
Deferred income taxes	2	4
Non-cash in-kind services	17,241	0
Loss on forward contract liability	1,324	0
Changes in operating assets and liabilities:
Accounts receivable, net	346	(206)
Prepaid expenses and other current assets	(1,204)	(816)
Accounts payable and accrued expenses and other current liabilities	9,068	(5,336)
Customer deposits	4,892	0
Other long-term liabilities	0	(107)
Net cash used in operating activities	(45,785)	(49,796)
Cash flows from investing activities
Purchases of property and equipment	(3,857)	(4,311)
Deposits for property and equipment	(2,446)	(4,288)
Cash paid towards build-to-suit lease	0	(11,826)
Net cash used in investing activities	(6,303)	(20,425)
Cash flows from financing activities
Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs paid	50,349	0
Business Combination and PIPE financing, net of issuance costs paid	616,736	0
Proceeds from the exercise of stock options	1,884	0
Proceeds from landlord of finance lease	889	0
Payments to landlord for finance lease	(320)	0
Proceeds from note payable	4,134	0
Payment of note payable	(4,134)	0
Net cash provided by financing activities	669,538	0
Net increase (decrease) in cash and cash equivalents, including restricted cash	617,450	(70,221)
Cash and cash equivalents, including restricted cash, beginning of period	89,832	173,956
Cash and cash equivalents, including restricted cash, end of period	707,282	103,735
Supplementary cash flow disclosures:
Cash paid for interest	425	59
Cash interest received	479	721
Supplementary disclosures for noncash investing and financing activities:
Accrued purchases and deposits of property and equipment	1,371	13,229
Non-cash prepaid in-kind services	74,758	0
Accrued Business Combination and PIPE transaction costs	$ 295	$ 0

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Payments of stock issuance costs	$ (5,751)	$ (8,403)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION (a) Basis of Presentation On June 3, 2020 (the "Closing Date"), VectoIQ Acquisition Corp. ("VectoIQ"), consummated the previously announced merger pursuant to the Business Combination Agreement, dated March 2, 2020 (the "Business Combination Agreement"), by and among the VectoIQ, VCTIQ Merger Sub Corp., a wholly-owned subsidiary of VectoIQ incorporated in the State of Delaware ("Merger Sub"), and Nikola Corporation, a Delaware corporation ("Legacy Nikola"). Pursuant to the terms of the Business Combination Agreement, a business combination between the Company and Legacy Nikola was effected through the merger of Merger Sub with and into Legacy Nikola, with Legacy Nikola surviving as the surviving company and as a wholly-owned subsidiary of VectoIQ (the "Business Combination"). On the Closing Date, and in connection with the closing of the Business Combination, VectoIQ changed its name to Nikola Corporation (the "Company" or "Nikola"). Legacy Nikola was deemed the accounting acquirer in the Business Combination based on an analysis of the criteria outlined in Accounting Standards Codification ("ASC") 805. This determination was primarily based on Legacy Nikola's stockholders prior to the Business Combination having a majority of the voting interests in the combined company, Legacy Nikola's operations comprising the ongoing operations of the combined company, Legacy Nikola's board of directors comprising a majority of the board of directors of the combined company, and Legacy Nikola's senior management comprising the senior management of the combined company. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Nikola issuing stock for the net assets of VectoIQ, accompanied by a recapitalization. The net assets of VectoIQ are stated at historical cost, with no goodwill or other intangible assets recorded. While VectoIQ was the legal acquirer in the Business Combination, because Legacy Nikola was deemed the accounting acquirer, the historical financial statements of Legacy Nikola became the historical financial statements of the combined company, upon the consummation of the Business Combination. As a result, the financial statements included in this report reflect (i) the historical operating results of Legacy Nikola prior to the Business Combination; (ii) the combined results of the Company and Legacy Nikola following the closing of the Business Combination; (iii) the assets and liabilities of Legacy Nikola at their historical cost; and (iv) the Company’s equity structure for all periods presented. In accordance with guidance applicable to these circumstances, the equity structure has been restated in all comparative periods up to the Closing Date, to reflect the number of shares of the Company's common stock, $0.0001 par value per share ("Common Stock") issued to Legacy Nikola's stockholders in connection with the recapitalization transaction. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Nikola redeemable convertible preferred stock and Legacy Nikola common stock prior to the Business Combination have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination Agreement. Activity within the statement of stockholders' equity for the issuances and repurchases of Legacy Nikola's convertible redeemable preferred stock, were also retroactively converted to Legacy Nikola common stock. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited financial information reflects, in the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company's financial position, results of operations and cash flows for the periods indicated. The results reported for the interim period presented are not necessarily indicative of results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's audited consolidated financial statements as of and for the year ended December 31, 2019 included in the Prospectus which constituted a part of the Company's Registration Statement on Form S-1 (File No. 333-239940), which was declared effective by the SEC on July 27, 2020 (the "Prospectus"). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated. Certain prior period balances have been reclassified to conform to the current period presentation in the consolidated financial statements and the accompanying notes. All dollar amounts are in thousands, unless otherwise noted. Share and per share amounts are presented on a post-conversion basis for all periods presented, unless otherwise specified. (b) Funding Risks and Going Concern As an early stage growth company, Nikola’s ability to access capital is critical. Management plans to raise additional capital through a combination of public equity, debt financings, strategic alliances, and licensing arrangements. Additional stock financing may not be available on favorable terms and could be dilutive to current stockholders. Debt financing, if available, may involve restrictive covenants and dilutive financing instruments. The Company’s ability to access capital when needed is not assured and, if capital is not available to the Company when, and in the amounts needed, the Company could be required to delay, scale back, or abandon some or all of its development programs and other operations, which could materially harm the Company’s business, financial condition and results of operations. These financial statements have been prepared by management in accordance with GAAP and this basis assumes that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. These financial statements do not include any adjustments that may result from the outcome of this uncertainty. As of the date of this report, the Company’s existing cash resources and existing borrowing availability are sufficient to support planned operations for the next 12 months. As a result, management believes that the Company's existing financial resources are sufficient to continue operating activities for at least one year past the issuance date of the financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Comprehensive Loss Comprehensive loss includes all changes in equity during a period from non-owner sources. Through June 30, 2020, there are no components of comprehensive loss which are not included in net loss; therefore, a separate statement of comprehensive loss has not been presented. The Company does not have any foreign currency translation adjustments as a component of other comprehensive loss through June 30, 2020, as the functional currency of all subsidiaries is the U.S. Dollar. (b) Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, restricted cash and cash equivalents, and accounts receivable. The Company's cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents by diversifying its investments among a variety of industries and issuers. The Company has not experienced any credit loss relating to its cash equivalents. (c) Concentration of Supplier Risk The Company is not currently in the production stage and generally utilizes suppliers for outside development and engineering support. The Company does not believe that there is any significant supplier concentration risk during the periods ended June 30, 2020 and 2019. (d) Cash, Cash Equivalents and Restricted Cash and Cash Equivalents The Company considers all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents. Additionally, the Company considers investments in money market funds with a floating net asset value to be cash equivalents. As of June 30, 2020 and December 31, 2019, the Company had $698.4 million and $85.7 million of cash and cash equivalents, which included cash equivalents of $662.4 million and $73.0 million of highly liquid investments at June 30, 2020 and December 31, 2019, respectively. As of June 30, 2020 and December 31, 2019, the Company had $4.1 million in an escrow account related to the securitization of the term loan with JP Morgan Chase included in restricted cash and cash equivalents. The reconciliation of cash and cash equivalents and restricted cash and cash equivalents to amounts presented in the consolidated statements of cash flows are as follows: As of June 30, 2020 December 31, 2019 Cash and cash equivalents $ 698,386 $ 85,688 Restricted cash and cash equivalents – current 8,896 — Restricted cash and cash equivalents – non-current — 4,144 Cash, cash equivalents and restricted cash and cash equivalents $ 707,282 $ 89,832 (e) Fair Value of Financial Instruments The carrying value and fair value of the Company’s financial instruments are as follows: As of June 30, 2020 Level 1 Level 2 Level 3 Total Assets Cash equivalents – money market $ 662,406 $ — $ — $ 662,406 Restricted cash equivalents – money market $ 4,100 $ — $ — $ 4,100 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets Cash equivalents – money market $ 73,005 — — $ 73,005 Restricted cash equivalents – money market 4,144 — — 4,144 In September 2019, Legacy Nikola entered into an agreement that required Legacy Nikola to issue, and the investor to purchase, Series D redeemable convertible preferred stock at a fixed price in April 2020 (the “ Forward Contract Liability”), which was accounted for as a liability. The liability was remeasured to its fair value each reporting period and at settlement, which occurred in April 2020 with the issuance of Series D redeemable convertible preferred stock. The change in fair value was recognized in other income (expense) on the consolidated statements of operations. The change in fair value of the Forward Contract Liability was as follows: Estimated fair value at December 31, 2019 $ — Change in fair value 1,324 Estimated fair value at March 31, 2020 $ 1,324 Settlement of forward contract liability $ (1,324) Estimated fair value at June 30, 2020 $ — In determining the fair value of the Forward Contract Liability, estimates and assumptions impacting fair value included the estimated future value of the Company's Series D redeemable convertible preferred stock, discount rates and estimated time to liquidity. The following reflects the significant quantitative inputs used: As of April 10, 2020 December 31, 2019 Estimated future value of Series D redeemable convertible preferred stock $ 19.01 $ 18.52 Discount rate — % 1.56 % Time to liquidity (years) 0 0.3 (f) Recent Accounting Pronouncements As an emerging growth company (“EGC”), the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies. The Company elected to use this extended transition period under the JOBS Act until such time the Company is no longer considered to be an EGC. The adoption dates discussed below reflect this election. The Company expects to become a large accelerated filer on the last day of its fiscal year 2020 and will no longer qualify as an EGC and plans to revise the adoption dates accordingly in subsequent filings. In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842) , to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. In July 2018, ASU 2018-10, Codification Improvements to Topic 842 , Leases, was issued to provide more detailed guidance and additional clarification for implementing ASU 2016-02. Furthermore, in July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which provides an optional transition method in addition to the existing modified retrospective transition method by allowing a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. These new leasing standards are effective for the Company beginning January 1, 2021, with early adoption permitted. The Company is currently evaluating the effect of the adoption of this guidance on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments , which, together with subsequent amendments, amends the requirement on the measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for the Company beginning January 1, 2023, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s financial statements and does not expect it to have a material impact on the consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. ASU 2019-12 is effective for the Company beginning January 1, 2022, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s financial statements and does not expect it to have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments – Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivative and Hedging (Topic 815) , which addresses accounting for the transition into and out of the equity method and provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. ASU 2020-01 is effective for the Company beginning January 1, 2022, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s financial statements and does not expect it to have a material impact on the consolidated financial statements.

BUSINESS COMBINATION

BUSINESS COMBINATION	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
BUSINESS COMBINATION	BUSINESS COMBINATIONOn June 3, 2020, the Company and VectoIQ consummated the merger contemplated by the business combination agreement, with Legacy Nikola surviving the merger as a wholly-owned subsidiary of VectoIQ. Immediately prior to the closing of the Business Combination, all shares of outstanding redeemable convertible preferred stock of Legacy Nikola were automatically converted into shares of Common Stock. Upon the consummation of the Business Combination, each share of Legacy Nikola common stock issued and outstanding was canceled and converted into the right to receive 1.901 shares (the "Exchange Ratio") of Common Stock (the "Per Share Merger Consideration"). Upon the closing of the Business Combination, VectoIQ's certificate of incorporation was amended and restated to, among other things, increase the total number of authorized shares of all classes of capital stock to 750,000,000 shares, of which 600,000,000 shares were designated Common Stock, $0.0001 par value per share, and of which 150,000,000 shares were designated preferred stock, $0.0001 par value per share. In connection with the execution of the Business Combination Agreement, VectoIQ entered into separate subscription agreements (each, a "Subscription Agreement") with a number of investors (each a "Subscriber"), pursuant to which the Subscribers agreed to purchase, and VectoIQ agreed to sell to the Subscribers, an aggregate of 52,500,000 shares of common stock (the "PIPE Shares"), for a purchase price of $10.00 per share and an aggregate purchase price of $525.0 million, in a private placement pursuant to the subscription agreements (the "PIPE"). The PIPE investment closed simultaneously with the consummation of the Business Combination. Prior to the closing of the Business Combination, Legacy Nikola repurchased 2,850,930 shares of Legacy Nikola's Series B redeemable convertible preferred stock at the price of $8.77 per share for an aggregate purchase price of $25.0 million pursuant to a Series B preferred stock repurchase agreement (the "Repurchase Agreement") with Nimbus Holdings LLC ("Nimbus"). The repurchase is retrospectively adjusted in the statement of stockholders' equity to reflect the Company’s equity structure for all periods presented. Immediately following the Business Combination, pursuant to a redemption agreement, Nikola redeemed 7,000,000 shares of Common Stock from M&M Residual, LLC at a purchase price of $10.00 per share. See Note 6 “Related Party Transactions” for further details on the transaction. The Business Combination is accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, VectoIQ was treated as the "acquired" company for financial reporting purposes. See Note 1 "Basis of Presentation" for further details. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Nikola issuing stock for the net assets of VectoIQ, accompanied by a recapitalization. The net assets of VectoIQ are stated at historical cost, with no goodwill or other intangible assets recorded. Prior to the Business Combination, Legacy Nikola and VectoIQ filed separate standalone federal, state and local income tax returns. As a result of the Business Combination, structured as a reverse acquisition for tax purposes, Legacy Nikola, which was renamed Nikola Subsidiary Corporation in connection with the Business Combination (f/k/a Nikola Corporation), became the parent of the consolidated filing group, with Nikola Corporation (f/k/a VectoIQ Acquisition Corp.) as a subsidiary. The following table reconciles the elements of the Business Combination to the consolidated statement of cash flows and the consolidated statement of changes in equity for the six months ended June 30, 2020: Recapitalization Cash - VectoIQ's trust and cash (net of redemptions) $ 238,358 Cash - PIPE 525,000 Less transaction costs and advisory fees paid (51,200) Less VectoIQ loan payoff in conjunction with close (422) Less: M&M Residual redemption (70,000) Less: Nimbus repurchase (25,000) Net Business Combination and PIPE financing 616,736 Less: non-cash net liabilities assumed from VectoIQ (221) Less: accrued transaction costs and advisory fees (295) Net contributions from Business Combination and PIPE financing $ 616,220 The number of shares of Common Stock issued immediately following the consummation of the Business Combination: Number of Shares Common stock, outstanding prior to Business Combination 22,986,574 Less redemption of VectoIQ shares (2,702) Common stock of VectoIQ 22,983,872 VectoIQ Founder Shares 6,640,000 Shares issued in PIPE 52,500,000 Less: M&M Residual redemption (7,000,000) Less: Nimbus repurchase (2,850,930) Business Combination and PIPE financing shares 72,272,942 Legacy Nikola shares (1) 288,631,536 Total shares of Common Stock immediately after Business Combination 360,904,478 (1) The number of Legacy Nikola shares was determined from the 151,831,441 shares of Legacy Nikola common stock outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio of 1.901. All fractional shares were rounded down.

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BALANCE SHEET COMPONENTS	BALANCE SHEET COMPONENTS Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following at June 30, 2020 and December 31, 2019, respectively: As of June 30, 2020 December 31, 2019 Materials and supplies $ 1,859 $ 1,872 Prepaid expenses and current assets 2,813 2,551 Total prepaid expenses and other current assets $ 4,672 $ 4,423 Property and Equipment Property and equipment consist of the following at June 30, 2020 and December 31, 2019, respectively: As of June 30, 2020 December 31, 2019 Machinery and equipment $ 14,130 $ 13,483 Furniture and fixtures 1,404 1,228 Leasehold improvements 1,376 1,437 Software 2,759 1,909 Building 33,248 33,248 Construction-in-progress 11,636 4,264 Other 1,583 1,309 Property and equipment, gross 66,136 56,878 Less: accumulated depreciation and amortization (6,280) (3,500) Total property and equipment, net $ 59,856 $ 53,378 Depreciation expense for the three months ended June 30, 2020 and 2019 was $1.4 million and $0.2 million, respectively. Depreciation expense for the six months ended June 30, 2020 and 2019 was $2.8 million and $0.4 million, respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following at June 30, 2020 and December 31, 2019, respectively: As of June 30, 2020 December 31, 2019 Accrued payroll and payroll related expenses $ 1,909 $ 1,385 Accrued stock issuance and transaction costs 295 4,695 Accrued outsourced engineering services 7,732 3,205 Other accrued expenses 3,311 1,480 Current portion of lease financing liability 705 660 Total accrued expenses and other current liabilities $ 13,952 $ 11,425

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET The gross carrying amount and accumulated amortization of separately identifiable intangible assets are as follows: As of June 30, 2020 Gross Carrying Accumulated Net Carrying In-process R&D $ 12,110 $ — $ 12,110 Trademarks 394 (88) 306 Licenses 50,150 (85) 50,065 Total intangible assets $ 62,654 $ (173) $ 62,481 As of December 31, 2019 Gross Carrying Accumulated Net Carrying In-process R&D $ 12,110 $ — $ 12,110 Trademarks 394 (71) 323 Licenses 50,150 (70) 50,080 Total intangible assets $ 62,654 $ (141) $ 62,513 Amortization expense for the three and six months ended June 30, 2020 and 2019 was immaterial.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Related Party Aircraft Charter Agreement In 2019, the Company entered into an aircraft charter arrangement with the Company’s Executive Chairman (the "Executive Chairman") of the board of directors of the Company and Legacy Nikola's former Chief Executive Officer to reimburse him for the flight hours incurred for Company use on his personal aircraft. These flight hours are related to business travel by the Executive Chairman and other members of the executive team to business meetings and trade conferences, as well as the Executive Chairman's commute between the Company’s headquarters in Phoenix, Arizona, and his residence in Utah. During the three months ended June 30, 2020 and 2019, the Company reimbursed $0.07 million and $0.04 million, respectively, to the Executive Chairman for the use of the aircraft. During the six months ended June 30, 2020 and 2019, the Company reimbursed $0.24 million and $0.04 million, respectively, to the Executive Chairman for use of the aircraft. As of June 30, 2020 and December 31, 2019 the Company had $0.05 million and $0.03 million, respectively, outstanding in accounts payable and accrued expenses to the Executive Chairman for the use of the aircraft. Related Party Revenue and Accounts Receivable During the three months ended June 30, 2020 and 2019 the Company recorded solar revenues of $0.03 million and $0.04 million, respectively, for the provision of solar installation services to the Executive Chairman, which are billed on time and materials basis. During the six months ended June 30, 2020 and 2019 the Company recorded solar revenues of $0.08 million and $0.06 million, respectively, for the provision of solar installation services to the Executive Chairman. As of June 30, 2020 and December 31, 2019, the Company had $3 thousand and $51 thousand, respectively, outstanding in accounts receivable related to solar installation services. The outstanding balance was paid subsequent to period end. Related Party Stock Options In December 2018, the Executive Chairman issued 6,005,139 performance-based stock options to recognize the performance and contribution of specific employees, including certain executive officers, pursuant to Legacy Nikola's Founder Stock Option Plan (the "Founder Stock Option Plan"). The underlying Common Stock of these option awards are owned by M&M Residual, a Nevada limited liability company that is wholly-owned by the Executive Chairman and are considered to be issued by the Company for accounting purposes. These performance-based stock options vest based on the Company's achievement of a liquidation event, such as a private sale or an initial public offering on a U.S. stock exchange. An additional award of 180,153 shares was made under the plan in May 2020, to replace a forfeited grant. The weighted average grant date fair value of the performance-based stock options was $1.20 per share for the period ended June 30, 2020. During the three months ended June 30, 2020, the performance conditions were met upon the closing of the Business Combination. As a result, the Company recognized stock-based compensation expense related to these option awards for $7.2 million during the three and six months ended June 30, 2020. Related Party Redemption of Common Stock Immediately following the Business Combination, pursuant to a redemption agreement, Nikola redeemed 7,000,000 shares of common stock from M&M Residual at a purchase price of $10.00 per share, payable in immediately available funds. The number of shares to be redeemed and the redemption price were determined and agreed upon during negotiations between the various parties to the Business Combination, including the Executive Chairman and representatives of VectoIQ, Legacy Nikola and the Subscribers. Former Related Party License and Service Agreements In September 2019, Legacy Nikola entered into a Master Industrial Agreement (“CNHI Services Agreement”) and S-WAY Platform and Product Sharing Agreement (“CNHI License Agreement”) with CNH Industrial N.V. ("CNHI") and Iveco S.p.A ("Iveco"), a former related party, in conjunction with the Company’s Series D redeemable convertible preferred stock offering. Under these agreements, CNHI and Iveco were issued 25,661,448 shares of Legacy Nikola Series D redeemable convertible preferred stock in exchange for an IP license valued at $50.0 million, $100.0 million in-kind services and $100.0 million in cash. During the three and six months ended June 30, 2020, the Company issued 7,390,436 and 9,443,353 shares of Series D redeemable convertible preferred stock, respectively, to Iveco, in exchange for $72.0 million and $92.0 million of prepaid in-kind services, respectively. During the three and six months ended June 30, 2020, $10.5 million and $17.2 million of in-kind services, respectively, were recognized in research and development on the consolidated statements of operations. As of June 30, 2020 and December 31, 2019, $74.8 million and zero prepaid in-kind services, respectively, were reflected on the consolidated balance sheets. During the three and six months ended June 30, 2020, the Company issued 5,132,291 shares of Series D redeemable convertible preferred stock to Iveco in exchange for $50.0 million in cash. As of June 3, 2020, the entity was no longer considered a related party under ASC 850. Former Related Party Research and Development and Accounts Payable During the three months ended June 30, 2020 and 2019, the Company recorded research and development expenses of $5.6 million and $5.6 million, respectively, from a former related party. During the six months ended June 30, 2020 and 2019, the Company recorded research and development expenses of $6.5 million and $10.7 million, respectively, from a former related party. As of June 30, 2020, the Company had $0.6 million of accounts payable due to the former related party and $5.5 million of accrued expenses due to the former related party. As of December 31, 2019, the Company had $0.6 million of accounts payable due to the former related party and $0.5 million of accrued expenses due to the former related party. As of June 3, 2020, the entity is no longer considered a related party. Former Related Party Stock Repurchase In September 2019, in contemplation of Legacy Nikola’s proposed Series D preferred stock financing, Legacy Nikola entered into an amendment of the letter agreement by and between Legacy Nikola and Nimbus, dated August 3, 2018 (the “Nimbus Redemption Letter Agreement” and as amended, the “Nimbus Amendment”). Pursuant to the terms of the Amendment and the Nimbus Repurchase Agreement, Legacy Nikola agreed to repurchase 3,575,750 shares of Series B redeemable convertible preferred stock held by Nimbus, a former related party, at the share price of $8.77 which is equal to 90% of the share price in the Series D redeemable convertible preferred stock financing of $9.74 per share. The number of shares to be repurchased exceeded five percent (5%) of the contemplated Series D round of financing. This was negotiated by Legacy Nikola in order to reduce the total number of shares of Series B redeemable convertible preferred stock held by Nimbus, to such an extent that Nimbus would no longer be entitled to elect a member of Legacy Nikola's board of directors as a result of Nimbus' Series B preferred stock holdings. The repurchase was completed in October 2019, for an aggregate repurchase amount of $31.4 million. The Amendment also provided Nimbus with additional redemption rights based on various capital raise thresholds, none of which were met as of December 31, 2019. In March 2020, Legacy Nikola entered into an additional letter agreement with Nimbus in which Nimbus agreed to terminate the Nimbus Redemption Letter Agreement. Concurrently, Legacy Nikola entered into an agreement with Nimbus, whereby Legacy Nikola agreed to repurchase an additional 2,850,930 shares of Series B preferred stock from Nimbus at a share price of $8.77 for an aggregate repurchase price of $25.0 million. The parties agreed that the repurchase price constituted the price that Nimbus would otherwise be entitled to under the Nimbus Redemption Letter Agreement. The number of shares to be repurchased was negotiated by Legacy Nikola and Nimbus as a mechanism to compensate Nimbus for agreeing to relinquish its previous redemption rights granted in the Nimbus Redemption Letter Agreement. The repurchase was contingent on completion of the Business Combination which occurred during the quarter ending June 30, 2020, and the Company repurchased the shares in conjunction with the closing of the Business Combination. The Company recorded a reduction to additional paid in capital for the repurchase price in excess of the carrying value of the redeemable convertible preferred stock of $13.4 million. The carrying value of the shares repurchased were recorded as a reduction to redeemable convertible preferred stock, which has been retrospectively adjusted in the statement of stockholders' equity to reflect the Company’s equity structure for all periods presented. For the computation of net loss per share for the three and six months ended June 30, 2020, the repurchase price in excess of the carrying value of the redeemable convertible preferred stock of $13.4 million is reflected as a decrease to net loss attributable to common stockholders (see Note 12). As of June 3, 2020, the entity is no longer considered a related party.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Term Note Debt consisted of a term note for $4.1 million as of June 30, 2020 and December 31, 2019. In January 2018, the Company entered into a term note with JP Morgan Chase, pursuant to which, the Company borrowed $4.1 million to fund equipment purchases. The term note accrued interest at 2.43% per annum and was payable on or before January 31, 2019. The term note is secured by restricted cash. In February 2019, the Company amended the term note to extend its term by one year and increased the interest rate to 3.00% per annum. In February 2020, the Company further amended the term note and extended its term for one year, to January 31, 2021. The term note accrues interest at a rate equal to the LIBOR rate for the applicable interest period multiplied by the statutory reserve rate as determined by the Federal Reserve Board. The term loan has a financial covenant that requires the Company to maintain a minimum amount of liquidity with the bank. As of June 30, 2020, the Company was in compliance with the financial covenant. Payroll Protection Program Note In April 2020, the Company entered into a Note with JP Morgan Chase under the Small Business Administration Paycheck Protection Program established under Section 1102 of the Coronavirus Aid, Relief and Economic Security (CARES) Act, pursuant to which the Company borrowed $4.1 million (the "Note"). The Note accrues interest at rate of 0.98% per annum and matures in 24 months. On April 30, 2020, the Company returned the $4.1 million in proceeds from the Note to JP Morgan Chase.

CAPITAL STRUCTURE

CAPITAL STRUCTURE	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
CAPITAL STRUCTURE	CAPITAL STRUCTURE Shares Authorized As of June 30, 2020, the Company had authorized a total of 750,000,000 shares for issuance with 600,000,000 shares designated as common stock and 150,000,000 shares designated as preferred stock. Warrants As of June 30, 2020, the Company had 23,000,000 public warrants and 890,000 private warrants outstanding. Each public and private warrant entitles the registered holder to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment, at any time commencing 30 days after the completion of the Business Combination. The public warrants will expire on the fifth anniversary of the Business Combination, or earlier upon redemption or liquidation. The Company may call the public warrants for redemption: • in whole and not in part; • at a price of $0.01 per warrant; • upon a minimum of 30 days' prior written notice of redemption; and • if, and only if, the last reported closing price of the ordinary shares equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which Nikola sends the notice of redemption to the warrant holders. If the Company calls the public warrants for redemption, management will have the option to require all holders that wish to exercise the public warrants to do so on a "cashless basis," as described in the warrant agreement. The exercise price and number of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance of common stock at a price below its exercise price. On July 22, 2020 the Company issued a redemption notice to the warrant holders for a redemption of all of the outstanding public warrants, on a cash basis. The redemption is expected to be completed on August 21, 2020. See Note 13, "Subsequent Events" for additional information regarding the redemption of public warrants.

STOCK BASED COMPENSATION EXPENS

STOCK BASED COMPENSATION EXPENSE	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION EXPENSE	STOCK BASED COMPENSATION EXPENSE 2017 and 2020 Stock Plans Legacy Nikola's 2017 Stock Option Plan (the “2017 Plan”) provides for the grant of incentive and nonqualified options to purchase Legacy Nikola common stock to officers, employees, directors, and consultants of Legacy Nikola. Options are granted at a price not less than the fair market value on the date of grant and generally become exercisable between one and four years after the date of grant. Options generally expire ten years from the date of grant. Outstanding awards under the 2017 Plan continue to be subject to the terms and conditions of the 2017 Plan. Each Legacy Nikola option from the 2017 Plan that was outstanding immediately prior to the Business Combination, whether vested or unvested, was converted into an option to purchase a number of shares of Common Stock (each such option, an "Exchanged Option") equal to the product (rounded down to the nearest whole number) of (i) the number of shares of Legacy Nikola common stock subject to such Legacy Nikola option immediately prior to the Business Combination and (ii) the Exchange Ratio, at an exercise price per share (rounded up to the nearest whole cent) equal to (A) the exercise price per share of such Legacy Nikola option immediately prior to the consummation of the Business Combination, divided by (B) the Exchange Ratio. Except as specifically provided in the Business Combination Agreement, following the Business Combination, each Exchanged Option will continue to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding former Legacy Nikola option immediately prior to the consummation of the Business Combination. All stock option activity was retroactively restated to reflect the Exchanged Options. At the Company's special meeting of stockholders held on June 2, 2020, the stockholders approved the Nikola Corporation 2020 Stock Incentive Plan (the "2020 Plan") and the Nikola Corporation 2020 Employee Stock Purchase Plan (the "2020 ESPP"). The 2020 Plan and the 2020 ESPP were previously approved, subject to stockholder approval, by the Company's board of directors on May 6, 2020. The aggregate number of shares authorized for issuance under the 2020 Plan will not exceed 20,000,000, plus the number of shares subject to outstanding awards as of the closing of the Business Combination under the 2017 Plan that are subsequently forfeited or terminated, plus the number of reserved shares not issued or subject to outstanding grants under the 2017 Plan as of the closing of the Business Combination. In addition, the shares authorized for the 2020 Plan may be increased on an annual basis for a period of up to ten years, beginning with the fiscal year that begins January 1, 2021, in an amount equal up to 2.5% of the outstanding shares of Common Stock on the last day of the immediately preceding fiscal year. The aggregate number of shares available for issuance under the 2020 ESPP is 4,000,000, which may be increased on an annual basis of up to 1.0% of the outstanding shares of Common Stock as of the first day of each such fiscal year. The 2020 Plan provides for the grant of incentive and nonqualified stock option, restricted stock units ("RSUs"), restricted share awards, stock appreciation awards, and cash-based awards to employees, outside directors, and consultants of the Company. The 2020 Plan and the 2020 ESPP became effective immediately upon the closing of the Business Combination. No offerings have been authorized to date by the Company's board of directors under the ESPP. Common Stock Valuation Prior to the completion of Business Combination and listing of the Company's common stock on the public stock exchange, the fair value of Legacy Nikola common stock that underlies the stock options was determined by Legacy Nikola's board of directors based upon information available at the time of grant. Because such grants occurred prior to the public trading of the Company's common stock, Legacy Nikola's board of directors determined the fair value of Legacy Nikola common stock with assistance of periodic valuation studies from an independent third-party valuation firm. The valuations were consistent with the guidance and methods outlined in the AICPA Practice Aid, Valuation of Privately-Held-Company Equity Securities Issued as Compensation, or AICPA Practice Aid. Stock Option Valuation The Company utilizes the Black-Scholes option pricing model for estimating the fair value of options granted, which requires the input of highly subjective 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 June 30, 2020 December 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) 0.51 – 6.3 5.0 – 6.3 Expected dividend yield — — Expected volatility 83.6% - 85.8% 70.0% – 85.1% The unrecognized compensation cost of stock options as of June 30, 2020 was $3.6 million, which is expected to be recognized over the weighted average remaining service period of 1.97 years. Performance Based Stock Options As of June 30, 2020 and December 31, 2019, the outstanding performance-based options (“PSUs”) issued by the Company were 5,153,485. No PSUs were granted during the six months ended June 30, 2020. The performance-based provision, related to specified amount of equity capital raised, was achieved for all of the outstanding performance-based awards in 2018 and the Company began recognizing expense related to these PSUs in 2018. The 5,153,485 PSUs outstanding as of June 30, 2020 do not include PSUs issued by a related party. See Note 6, “Related Party Transactions” for additional information regarding the related party PSUs. Stock Option Activity Changes in stock options are as follows: Options Weighted Weighted Average Outstanding at December 31, 2019 40,012,825 $ 1.08 8.78 Granted 1,582,496 $ 5.30 Exercised 1,786,912 $ 1.05 Cancelled 91,330 $ 1.65 Outstanding at June 30, 2020 39,717,079 $ 1.25 8.34 Vested and exercisable as of June 30, 2020 36,696,437 $ 1.19 8.31 The weighted-average grant date fair value of stock options issued for the six months ended June 30, 2020 were $8.20. There were 1,786,912 stock options exercised during the six months ended June 30, 2020 and Company received $1.9 million in cash proceeds from the exercise of options. As a result of the Business Combination, vesting of certain stock options and PSUs accelerated in accordance with terms of the related award agreements, resulting in additional stock-based compensation expense of $8.1 million in June 2020. Related Party Performance-based Stock Options Activity In December 2018, the Executive Chairman issued 6,005,139 PSUs to certain employees. An additional award of 180,153 Legacy Nikola options was made under the Founder Stock Option Plan in May 2020, to replace a forfeited grant. As of June 30, 2020 the weighted average exercise price per share was $1.39, the weighted-average grant date fair value was $1.20 per share, and the weighted average remaining contractual term of these PSUs is 8.51 years. All PSUs vested in conjunction with the Business Combination and the Company recorded stock-based compensation expense of $7.2 million in the second quarter of 2020. R estricted Stock Units In June 2020, in connection with the closing of the Business Combination, the Company granted 2,163,000 time-based RSUs to several executive officers and directors of the Company. The RSUs have a vesting cliff of either one Market Based RSUs In June 2020, in connection with the closing of the Business Combination, the Company granted 16,356,000 market based RSUs ("Market Based RSUs") to several executive officers of the Company. The Market Based RSUs contain a stock price index as a benchmark for vesting. These awards have three milestones that each vest depending upon a consecutive 20-trading day stock price target of the Company’s common stock. The shares vested are transferred to the award holders upon the completion of the requisite service period of three years, and upon achievement certification by the Company's board of directors. If the target price for the tranche is not achieved by the end of third anniversary of the grant date, the Market Based RSUs are forfeited. The Market Based RSUs are subject to legal approval by the board of directors as soon as administratively practicable following the effective registration of the securities under the 2020 Plan on a Registration Statement on Form S-8. As all the terms of the Market Based RSUs have been established and communicated, the grant date was achieved as of June 3, 2020. The grant date fair value of the Market Based RSUs was determined using a Monte Carlo simulation model that utilizes significant assumptions, including volatility, that determine the probability of satisfying the market condition stipulated in the award to calculate the fair value of the award. The expected volatility in the model of 70% was estimated on the basis of historical volatility of a group of peers, given the limited trading history of the Company. The risk-free interest rate of 0.26% was based on the United States Treasury rate for a term commensurate with the expected life of the grant. The total grant date fair value of the Market Based RSUs was determined to be $466.7 million and will be recognized over the requisite service period of 3 years. The unrecognized compensation expense as of June 30, 2020 was $455.0 million and will be recognized over the remaining service period of 2.9 years. Stock Compensation Expense The following table presents the impact of stock-based compensation expense on the consolidated statements of operations for the three and six months ended June 30, 2020 and 2019: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Research and development $ 2,880 $ 155 $ 3,238 $ 305 Selling, general, and administrative 35,347 1,279 36,302 2,282 Total stock-based compensation expense $ 38,227 $ 1,434 $ 39,540 $ 2,587 

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES To calculate the interim tax provision, at the end of each interim period the Company estimates the annual effective tax rate and applies that to its ordinary quarterly earnings. The effect of changes in the enacted tax laws or rates is recognized in the interim period in which the change occurs. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and judgments including, but not limited to, the expected operating income for the year, projections of the proportion of income earned and taxed in foreign jurisdictions, permanent differences between book and tax amounts, and the likelihood of recovering deferred tax assets generated in the current year. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained, or the tax environment changes.Income tax expense was immaterial for the three and six ended June 30, 2020 and 2019, respectively

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is subject to legal and regulatory actions that arise from time to time in the ordinary course of business. The assessment as to whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable, often involves significant judgment about future events. In the opinion of management, there was not at least a reasonable possibility the Company may have incurred a material loss with respect to loss contingencies for asserted legal and other claims. However, the outcome of litigation is inherently uncertain. There is no material pending or threatened litigation against the Company that remains outstanding as of June 30, 2020. Commitments and Contingencies on Land Conveyance In February 2019, the Company was conveyed 430 acres of land in Coolidge, Arizona, by Pinal Land Holdings, LLC (“PLH”). The purpose of the land conveyance was to incentivize the Company to locate its manufacturing facility in Coolidge, Arizona, and provide additional jobs to the region. The Company is required to commence construction of the manufacturing facility within two years of February 2019 (the “Manufacturing Facility Commencement Deadline”), and is required to complete construction of the manufacturing facility within five years of February 2019 (the “Manufacturing Facility Deadline”). Upon the earlier of the Manufacturing Facility Commencement Deadline or the commencement of construction, the Company will deposit $4.0 million in escrow to PLH. The amount in escrow will be returned to the Company upon completion of construction. If the Company fails to meet the Manufacturing Facility Commencement Deadline, the Company has the option to extend the deadline for one year by providing written notice to PLH and paying PLH $0.5 million. In the event the Company fails to meet the extended deadline, PLH is entitled to either the $4.0 million security deposit, or may reacquire the land from the Company at a price equal to out of pocket costs and expenses incurred by the Company prior to the Manufacturing Facility Commencement Deadline. If the Company fails to meet the Manufacturing Facility Deadline, the Company may extend the completion deadline by paying PLH $0.2 million per month, until construction is completed (the "Monthly Payment Option"). The extension of the Manufacturing Facility Deadline beyond two years will require express written consent of PLH. If the Company does not exercise the Monthly Payment Option, fails to make timely payments on the Monthly Payment Option, or fails to complete construction by the extended Manufacturing Facility Deadline, PLH is entitled to either the $4.0 million security deposit or may reacquire the land and property at the appraised value to be determined by independent appraisers selected by the Company and PLH. Contingent Fee for Advisory Services In January 2020, the Company entered into an agreement to obtain advisory services for the potential Business Combination. The fee for the services was contingent upon completion of the Business Combination, which occurred on June 3, 2020. The contingent fee of $3.0 million was paid during the three months ended June 30, 2020 Commitment to Fund Joint Venture In April 2020, the Company and Iveco entered into a series of agreements which established a joint venture in Europe, Nikola Iveco Europe B.V. The operations expected to be performed by the joint venture consist of the development and manufacturing of the battery-electric vehicle ("BEV") and fuel cell electric vehicle ("FCEV") trucks for the European market, as well as for the North American market while Nikola's greenfield manufacturing facility in Coolidge, Arizona, is being completed. The operations of the joint venture are expected to commence in the third quarter of 2020. The agreements provide for a 50/50 ownership of the joint venture and a 50/50 allocation of the joint venture's production volumes and profits between Nikola and Iveco. Both parties are entitled to appoint an equal number of board members to the board of the joint venture. Pursuant to the terms of the agreements, the Company and Iveco each contributed intellectual property licenses to their respective technology, and agreed to contribute approximately 7.4 million Euros in cash for a 50% interest in the joint venture. The cash contribution is to be funded by September 30, 2020. The intellectual property licenses contributed to the joint venture by Nikola are related to intellectual property related to Nikola-developed BEV and FCEV technology for the use in the European market. Iveco contributed to the joint venture a license for the S-WAY technology for use in the European market. As of June 30, 2020, the joint venture has not commenced operations and the Company has not contributed cash to the entity resulting in no financial statement impact for the period ended June 30, 2020. Based on the preliminary review of the executed and draft agreements, the Company expects to account for the joint venture under the equity method of accounting.

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2020 and 2019. Three Months Ended June 30, Six Months Ended 2020 2019 2020 2019 (in thousands, except share and per share data) Numerator: Net loss $ (86,643) $ (16,766) $ (119,806) $ (46,863) Less: Premium on repurchase of redeemable convertible preferred stock (13,407) — (13,407) — Net loss attributable to common stockholder, basic and diluted (100,050) (16,766) (133,213) (46,863) Denominator: Weighted average shares outstanding, basic and diluted 303,785,616 260,406,343 287,822,558 260,406,343 Net loss per share to common stockholder, basic and diluted $ (0.33) $ (0.06) $ (0.46) $ (0.18) Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common stock outstanding would have been anti-dilutive. The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Outstanding warrants 23,890,000 — 23,890,000 — Stock options, including performance stock options 39,717,079 39,214,816 39,717,079 39,214,816 Restricted stock units, including market based RSUs 18,519,000 — 18,519,000 — Total 82,126,079 39,214,816 82,126,079 39,214,816

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn July 22, 2020, the Company issued a notice of redemption of all of its outstanding public warrants. Holders of the Company’s public warrants have until 5:00 p.m. New York City time, on August 21, 2020, to exercise their public warrants by paying the exercise price of $11.50 per share in cash. Public warrants not exercised by the redemption date will be void and no longer exercisable, and redeemed by the Company for a price of $0.01 per public warrant. The private warrants still held by the initial holders thereof or permitted transferees of the initial holders are not subject to this redemption. As of July 30, 2020, the Company has issued 18,070,302 shares of Common Stock pursuant to the exercise of public warrants and have received approximately $207.8 million of proceeds from such exercises.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) and pursuant to the regulations of the U.S. Securities and Exchange Commission (“SEC”). The unaudited financial information reflects, in the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company's financial position, results of operations and cash flows for the periods indicated. The results reported for the interim period presented are not necessarily indicative of results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's audited consolidated financial statements as of and for the year ended December 31, 2019 included in the Prospectus which constituted a part of the Company's Registration Statement on Form S-1 (File No. 333-239940), which was declared effective by the SEC on July 27, 2020 (the "Prospectus").
Consolidation	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated. Certain prior period balances have been reclassified to conform to the current period presentation in the consolidated financial statements and the accompanying notes.
Comprehensive Loss	Comprehensive loss includes all changes in equity during a period from non-owner sources. Through June 30, 2020, there are no components of comprehensive loss which are not included in net loss; therefore, a separate statement of comprehensive loss has not been presented. The Company does not have any foreign currency translation adjustments as a component of other comprehensive loss through June 30, 2020, as the functional currency of all subsidiaries is the U.S. Dollar.
Concentration of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, restricted cash and cash equivalents, and accounts receivable. The Company's cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents by diversifying its investments among a variety of industries and issuers. The Company has not experienced any credit loss relating to its cash equivalents.
Concentration of Supplier Risk	The Company is not currently in the production stage and generally utilizes suppliers for outside development and engineering support.
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	The Company considers all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents. Additionally, the Company considers investments in money market funds with a floating net asset value to be cash equivalents.
Recent Accounting Pronouncements	As an emerging growth company (“EGC”), the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies. The Company elected to use this extended transition period under the JOBS Act until such time the Company is no longer considered to be an EGC. The adoption dates discussed below reflect this election. The Company expects to become a large accelerated filer on the last day of its fiscal year 2020 and will no longer qualify as an EGC and plans to revise the adoption dates accordingly in subsequent filings. In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (Topic 842) , to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. In July 2018, ASU 2018-10, Codification Improvements to Topic 842 , Leases, was issued to provide more detailed guidance and additional clarification for implementing ASU 2016-02. Furthermore, in July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which provides an optional transition method in addition to the existing modified retrospective transition method by allowing a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. These new leasing standards are effective for the Company beginning January 1, 2021, with early adoption permitted. The Company is currently evaluating the effect of the adoption of this guidance on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments , which, together with subsequent amendments, amends the requirement on the measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for the Company beginning January 1, 2023, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s financial statements and does not expect it to have a material impact on the consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. ASU 2019-12 is effective for the Company beginning January 1, 2022, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s financial statements and does not expect it to have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments – Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivative and Hedging (Topic 815) , which addresses accounting for the transition into and out of the equity method and provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. ASU 2020-01 is effective for the Company beginning January 1, 2022, with early adoption permitted. The Company is currently in the process of evaluating the effects of this pronouncement on the Company’s financial statements and does not expect it to have a material impact on the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The reconciliation of cash and cash equivalents and restricted cash and cash equivalents to amounts presented in the consolidated statements of cash flows are as follows: As of June 30, 2020 December 31, 2019 Cash and cash equivalents $ 698,386 $ 85,688 Restricted cash and cash equivalents – current 8,896 — Restricted cash and cash equivalents – non-current — 4,144 Cash, cash equivalents and restricted cash and cash equivalents $ 707,282 $ 89,832
Restrictions on Cash and Cash Equivalents	The reconciliation of cash and cash equivalents and restricted cash and cash equivalents to amounts presented in the consolidated statements of cash flows are as follows: As of June 30, 2020 December 31, 2019 Cash and cash equivalents $ 698,386 $ 85,688 Restricted cash and cash equivalents – current 8,896 — Restricted cash and cash equivalents – non-current — 4,144 Cash, cash equivalents and restricted cash and cash equivalents $ 707,282 $ 89,832
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	The carrying value and fair value of the Company’s financial instruments are as follows: As of June 30, 2020 Level 1 Level 2 Level 3 Total Assets Cash equivalents – money market $ 662,406 $ — $ — $ 662,406 Restricted cash equivalents – money market $ 4,100 $ — $ — $ 4,100 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets Cash equivalents – money market $ 73,005 — — $ 73,005 Restricted cash equivalents – money market 4,144 — — 4,144
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The change in fair value of the Forward Contract Liability was as follows: Estimated fair value at December 31, 2019 $ — Change in fair value 1,324 Estimated fair value at March 31, 2020 $ 1,324 Settlement of forward contract liability $ (1,324) Estimated fair value at June 30, 2020 $ —
Fair Value Measurement Inputs and Valuation Techniques	The following reflects the significant quantitative inputs used: As of April 10, 2020 December 31, 2019 Estimated future value of Series D redeemable convertible preferred stock $ 19.01 $ 18.52 Discount rate — % 1.56 % Time to liquidity (years) 0 0.3

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table reconciles the elements of the Business Combination to the consolidated statement of cash flows and the consolidated statement of changes in equity for the six months ended June 30, 2020: Recapitalization Cash - VectoIQ's trust and cash (net of redemptions) $ 238,358 Cash - PIPE 525,000 Less transaction costs and advisory fees paid (51,200) Less VectoIQ loan payoff in conjunction with close (422) Less: M&M Residual redemption (70,000) Less: Nimbus repurchase (25,000) Net Business Combination and PIPE financing 616,736 Less: non-cash net liabilities assumed from VectoIQ (221) Less: accrued transaction costs and advisory fees (295) Net contributions from Business Combination and PIPE financing $ 616,220 The number of shares of Common Stock issued immediately following the consummation of the Business Combination: Number of Shares Common stock, outstanding prior to Business Combination 22,986,574 Less redemption of VectoIQ shares (2,702) Common stock of VectoIQ 22,983,872 VectoIQ Founder Shares 6,640,000 Shares issued in PIPE 52,500,000 Less: M&M Residual redemption (7,000,000) Less: Nimbus repurchase (2,850,930) Business Combination and PIPE financing shares 72,272,942 Legacy Nikola shares (1) 288,631,536 Total shares of Common Stock immediately after Business Combination 360,904,478 (1) The number of Legacy Nikola shares was determined from the 151,831,441 shares of Legacy Nikola common stock outstanding immediately prior to the closing of the Business Combination converted at the Exchange Ratio of 1.901. All fractional shares were rounded down.

BALANCE SHEET COMPONENTS (Table

BALANCE SHEET COMPONENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following at June 30, 2020 and December 31, 2019, respectively: As of June 30, 2020 December 31, 2019 Materials and supplies $ 1,859 $ 1,872 Prepaid expenses and current assets 2,813 2,551 Total prepaid expenses and other current assets $ 4,672 $ 4,423
Property, Plant and Equipment	Property and equipment consist of the following at June 30, 2020 and December 31, 2019, respectively: As of June 30, 2020 December 31, 2019 Machinery and equipment $ 14,130 $ 13,483 Furniture and fixtures 1,404 1,228 Leasehold improvements 1,376 1,437 Software 2,759 1,909 Building 33,248 33,248 Construction-in-progress 11,636 4,264 Other 1,583 1,309 Property and equipment, gross 66,136 56,878 Less: accumulated depreciation and amortization (6,280) (3,500) Total property and equipment, net $ 59,856 $ 53,378
Schedule of Accounts Payable and Accrued Liabilities	Accrued expenses and other current liabilities consisted of the following at June 30, 2020 and December 31, 2019, respectively: As of June 30, 2020 December 31, 2019 Accrued payroll and payroll related expenses $ 1,909 $ 1,385 Accrued stock issuance and transaction costs 295 4,695 Accrued outsourced engineering services 7,732 3,205 Other accrued expenses 3,311 1,480 Current portion of lease financing liability 705 660 Total accrued expenses and other current liabilities $ 13,952 $ 11,425

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The gross carrying amount and accumulated amortization of separately identifiable intangible assets are as follows: As of June 30, 2020 Gross Carrying Accumulated Net Carrying In-process R&D $ 12,110 $ — $ 12,110 Trademarks 394 (88) 306 Licenses 50,150 (85) 50,065 Total intangible assets $ 62,654 $ (173) $ 62,481 As of December 31, 2019 Gross Carrying Accumulated Net Carrying In-process R&D $ 12,110 $ — $ 12,110 Trademarks 394 (71) 323 Licenses 50,150 (70) 50,080 Total intangible assets $ 62,654 $ (141) $ 62,513
Schedule of Indefinite-Lived Intangible Assets	The gross carrying amount and accumulated amortization of separately identifiable intangible assets are as follows: As of June 30, 2020 Gross Carrying Accumulated Net Carrying In-process R&D $ 12,110 $ — $ 12,110 Trademarks 394 (88) 306 Licenses 50,150 (85) 50,065 Total intangible assets $ 62,654 $ (173) $ 62,481 As of December 31, 2019 Gross Carrying Accumulated Net Carrying In-process R&D $ 12,110 $ — $ 12,110 Trademarks 394 (71) 323 Licenses 50,150 (70) 50,080 Total intangible assets $ 62,654 $ (141) $ 62,513

STOCK BASED COMPENSATION EXPE_2

STOCK BASED COMPENSATION EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	As of June 30, 2020 December 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) 0.51 – 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: Options Weighted Weighted Average Outstanding at December 31, 2019 40,012,825 $ 1.08 8.78 Granted 1,582,496 $ 5.30 Exercised 1,786,912 $ 1.05 Cancelled 91,330 $ 1.65 Outstanding at June 30, 2020 39,717,079 $ 1.25 8.34 Vested and exercisable as of June 30, 2020 36,696,437 $ 1.19 8.31
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 six months ended June 30, 2020 and 2019: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Research and development $ 2,880 $ 155 $ 3,238 $ 305 Selling, general, and administrative 35,347 1,279 36,302 2,282 Total stock-based compensation expense $ 38,227 $ 1,434 $ 39,540 $ 2,587

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2020 and 2019. Three Months Ended June 30, Six Months Ended 2020 2019 2020 2019 (in thousands, except share and per share data) Numerator: Net loss $ (86,643) $ (16,766) $ (119,806) $ (46,863) Less: Premium on repurchase of redeemable convertible preferred stock (13,407) — (13,407) — Net loss attributable to common stockholder, basic and diluted (100,050) (16,766) (133,213) (46,863) Denominator: Weighted average shares outstanding, basic and diluted 303,785,616 260,406,343 287,822,558 260,406,343 Net loss per share to common stockholder, basic and diluted $ (0.33) $ (0.06) $ (0.46) $ (0.18)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Outstanding warrants 23,890,000 — 23,890,000 — Stock options, including performance stock options 39,717,079 39,214,816 39,717,079 39,214,816 Restricted stock units, including market based RSUs 18,519,000 — 18,519,000 — Total 82,126,079 39,214,816 82,126,079 39,214,816

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 698,386	$ 85,688
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents – current	8,896	0
Restricted cash and cash equivalents – non-current	0	4,144
Cash and cash equivalents	698,386	85,688
Money Market
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents – current	$ 4,100
Restricted cash and cash equivalents – non-current		$ 4,100

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 698,386	$ 85,688
Restricted cash and cash equivalents – current	8,896	0
Restricted cash and cash equivalents – non-current	0	4,144
Cash, cash equivalents and restricted cash and cash equivalents	$ 707,282	$ 89,832	$ 103,735	$ 173,956

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value of Financial Instruments (Details) - Money Market - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets
Restricted cash equivalents – money market	$ 4,100	$ 4,144
Fair Value, Inputs, Level 1
Assets
Restricted cash equivalents – money market	4,100	4,144
Fair Value, Inputs, Level 2
Assets
Restricted cash equivalents – money market	0	0
Fair Value, Inputs, Level 3
Assets
Restricted cash equivalents – money market	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Change in Fair Value of Convertible Preferred Stock (Details) - Mandatorily Redeemable Preferred Stock - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated fair value at beginning of period	$ 1,324	$ 0
Change in fair value		1,324
Settlement of forward contract liability	(1,324)
Estimated fair value at end of period	$ 0	$ 1,324

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimates and Assumptions Impacting Fair Value of Series D Preferred Stock (Details)	Apr. 10, 2020	Dec. 31, 2019
Estimated future value of Series D redeemable convertible preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial instruments subject to mandatory redemption, measurement input	19.01	18.52
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial instruments subject to mandatory redemption, measurement input	0	0.0156
Time to liquidity (years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial instruments subject to mandatory redemption, measurement input	0	0.3

BUSINESS COMBINATION - Narrativ

BUSINESS COMBINATION - Narrative (Details) $ / shares in Units, $ in Millions	Jun. 03, 2020USD ($)$ / sharesshares	Jun. 02, 2020$ / sharesshares	Jun. 30, 2020$ / sharesshares	Dec. 31, 2019$ / sharesshares
Subsidiary, Sale of Stock [Line Items]
Conversion of stock, conversion ratio	1.901
Common stock and preferred stock, shares authorized (in shares)	750,000,000		750,000,000
Common stock, shares authorized (in shares)	600,000,000		600,000,000	600,000,000
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	150,000,000		150,000,000	150,000,000
Preferred stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001	$ 0.0001
Nimbus Holdings, LLC
Subsidiary, Sale of Stock [Line Items]
Stock repurchased during the period (in shares)	2,850,930	2,850,930
Shares repurchased, price per share (in usd per share) | $ / shares		$ 8.77
Stock repurchased during the period | $	$ 25
M&M Residual, LLC
Subsidiary, Sale of Stock [Line Items]
Stock repurchased during the period (in shares)	7,000,000
Shares repurchased, price per share (in usd per share) | $ / shares		$ 10
Private Placement
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in transaction (in shares)	52,500,000
Sale of stock, price per share (in usd per share) | $ / shares	$ 10
Sale of stock, consideration received on transaction | $	$ 525

BUSINESS COMBINATION - Reconcil

BUSINESS COMBINATION - Reconciliation to Statement of Cash Flows and Statement of Equity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Cash - PIPE	$ 525,000
Less VectoIQ loan payoff in conjunction with close	(422)
Net contributions from Business Combination and PIPE financing	616,736	$ 0
Less: accrued transaction costs and advisory fees	(295)	$ 0
Net Business Combination and PIPE financing	616,220
M&M Residual, LLC
Business Acquisition [Line Items]
Repurchase and redemption of stock	(70,000)
Nimbus Holdings, LLC
Business Acquisition [Line Items]
Repurchase and redemption of stock	(25,000)
VectoIQ
Business Acquisition [Line Items]
Cash - VectoIQ's trust and cash (net of redemptions)	238,358
Less transaction costs and advisory fees paid	(51,200)
Less: non-cash net liabilities assumed from VectoIQ	$ (221)

BUSINESS COMBINATION - Schedule

BUSINESS COMBINATION - Schedule of Shares Issued (Details) - shares	Jun. 03, 2020	Jun. 02, 2020	Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)	360,904,478	151,831,441	360,910,639	270,826,092
Business Combination and PIPE financing (in shares)	72,272,942
Legacy Nikola shares (in shares)	288,631,536
Private Placement
Business Acquisition [Line Items]
Shares issued in PIPE (in shares)	52,500,000
Common Shareholders
Business Acquisition [Line Items]
Common stock of VectoIQ and VectoIQ Founder Shares (in shares)	22,983,872
VectoIQ Founders
Business Acquisition [Line Items]
Common stock of VectoIQ and VectoIQ Founder Shares (in shares)	6,640,000
M&M Residual, LLC
Business Acquisition [Line Items]
Stock repurchased during the period (in shares)	(7,000,000)
Nimbus Holdings, LLC
Business Acquisition [Line Items]
Stock repurchased during the period (in shares)	(2,850,930)	(2,850,930)
VectoIQ
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)		22,986,574
Stock repurchased during the period (in shares)		(2,702)

BALANCE SHEET COMPONENTS - Prep

BALANCE SHEET COMPONENTS - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Materials and supplies	$ 1,859	$ 1,872
Prepaid expenses and current assets	2,813	2,551
Prepaid expenses and other current assets	$ 4,672	$ 4,423

BALANCE SHEET COMPONENTS - Prop

BALANCE SHEET COMPONENTS - Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 66,136	$ 56,878
Less: accumulated depreciation and amortization	(6,280)	(3,500)
Total property and equipment, net	59,856	53,378
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,130	13,483
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,404	1,228
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,376	1,437
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,759	1,909
Building
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33,248	33,248
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	11,636	4,264
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,583	$ 1,309

BALANCE SHEET COMPONENTS - Narr

BALANCE SHEET COMPONENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation	$ 1.4	$ 0.2	$ 2.8	$ 0.4

BALANCE SHEET COMPONENTS - Accr

BALANCE SHEET COMPONENTS - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and payroll related expenses	$ 1,909	$ 1,385
Accrued stock issuance and transaction costs	295	4,695
Accrued outsourced engineering services	7,732	3,205
Other accrued expenses	3,311	1,480
Current portion of lease financing liability	705	660
Total accrued expenses and other current liabilities	$ 13,952	$ 11,425

INTANGIBLE ASSETS, NET - Schedu

INTANGIBLE ASSETS, NET - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (173)	$ (141)
Gross Carrying Amount	62,654	62,654
Total intangible assets	62,481	62,513
In-process R&D
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	12,110	12,110
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	394	394
Accumulated Amortization	(88)	(71)
Net Carrying Amount	306	323
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	50,150	50,150
Accumulated Amortization	(85)	(70)
Net Carrying Amount	$ 50,065	$ 50,080

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details)	Jun. 03, 2020shares	Jun. 02, 2020$ / shares	May 31, 2020shares	Mar. 31, 2020USD ($)$ / sharesshares	Oct. 31, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares	Dec. 31, 2018$ / sharesshares	Jun. 30, 2020USD ($)shares		Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)$ / sharesshares		Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Related Party Transaction [Line Items]
Options granted (in shares) | shares											1,582,496
Weighted average grant date fair value (in dollars per share) | $ / shares											$ 8.20
Stock-based compensation expense								$ 38,227,000		$ 1,434,000	$ 39,540,000		$ 2,587,000
Less: Premium on repurchase of redeemable convertible preferred stock								$ 13,407,000		0	$ 13,407,000		0
M&M Residual, LLC
Related Party Transaction [Line Items]
Stock repurchased during the period (in shares) | shares	7,000,000
Shares repurchased, price per share (in usd per share) | $ / shares		$ 10
Common Stock
Related Party Transaction [Line Items]
Issuance of Series D redeemable convertible preferred stock for in-kind contribution (in shares) | shares								7,390,436	[1]		9,443,353	[2]
Issuance of Series D redeemable convertible preferred stock, net of issuance costs (in shares) | shares								5,215,933	[1]		6,581,340	[2]
Series D Preferred Stock
Related Party Transaction [Line Items]
Stock issued during period (in shares) | shares						25,661,448
Sale of stock, consideration received on transaction, license value						$ 50,000,000
Sale of stock, consideration received on transaction, value of in-kind services						100,000,000
Sale of stock, consideration received on transaction						$ 100,000,000
Convertible preferred stock per share (in usd per share) | $ / shares						$ 9.74
Chief Executive Officer
Related Party Transaction [Line Items]
Revenue from related parties								$ 30,000		40,000	$ 80,000		60,000
Accounts receivable, related parties, current								3,000			3,000			$ 51,000
Chief Executive Officer | Reissued Performance Stock
Related Party Transaction [Line Items]
Options granted (in shares) | shares			180,153				6,005,139
Weighted average grant date fair value (in dollars per share) | $ / shares							$ 1.20
Stock-based compensation expense								7,200,000			7,200,000
Chief Executive Officer | Aircraft Charter
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party								70,000		40,000	240,000		40,000
Accounts payable, related parties								50,000			50,000			30,000
Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable, related parties								600,000			600,000			600,000
Accrued expenses with related parties								$ 5,500,000			$ 5,500,000			500,000
Stock repurchased during the period (in shares) | shares				2,850,930
Shares repurchased, price per share (in usd per share) | $ / shares				$ 8.77
Stock repurchased during the period				$ 25,000,000
Affiliated Entity | Common Stock
Related Party Transaction [Line Items]
Issuance of Series D redeemable convertible preferred stock for in-kind contribution (in shares) | shares								7,390,436			9,443,353
Issuance of Series D redeemable convertible preferred stock for in-kind contribution, gross								$ 72,000,000			$ 92,000,000
Issuance of Series D redeemable convertible preferred stock, net of issuance costs (in shares) | shares								5,132,291			5,132,291
Issuance of Series D redeemable convertible preferred stock, gross								$ 50,000,000			$ 50,000,000
Affiliated Entity | Related Party Research And Development Expense
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party								5,600,000		$ 5,600,000	6,500,000		$ 10,700,000
Affiliated Entity | Prepaid In-Kind Services
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party								10,500,000			17,200,000
Due from Related Parties								$ 74,800,000			$ 74,800,000			$ 0
Affiliated Entity | Series D Preferred Stock
Related Party Transaction [Line Items]
Percentage of financing redeemed						0.05
Affiliated Entity | Series B Preferred Stock
Related Party Transaction [Line Items]
Share price as percentage of financing						0.90
Temporary equity repurchased (in shares) | shares					3,575,750
Temporary equity repurchased, price per share (in usd per share) | $ / shares					$ 8.77
Temporary equity repurchased and retired during period, value					$ 31,400,000
[1]	Issuance of Series D redeemable convertible preferred stock has been retroactively restated to give effect to the recapitalization transaction.
[2]	Issuance of Series D redeemable convertible preferred stock has been retroactively restated to give effect to the recapitalization transaction.

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	Apr. 30, 2020	Apr. 30, 2020	Feb. 29, 2020	Feb. 28, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 31, 2018
Debt Instrument [Line Items]
Term note, current					$ 4,100,000		$ 0
Term note, noncurrent					0		$ 4,100,000
Interest rate, stated percentage				3.00%
Proceeds from issuance of debt					$ 4,134,000	$ 0
Notes Payable to Banks
Debt Instrument [Line Items]
Face amount								$ 4,100,000
Interest rate, stated percentage								2.43%
Extension term			1 year	1 year
Notes Payable to Banks | Paycheck Protection Program, CARES Act
Debt Instrument [Line Items]
Interest rate, stated percentage	0.98%	0.98%
Proceeds from issuance of debt		$ 4,100,000
Repayments of long-term debt	$ 4,100,000

CAPITAL STRUCTURE (Details)

CAPITAL STRUCTURE (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2020$ / sharesshares	Jun. 30, 2020day$ / sharesshares	Jun. 03, 2020shares	Dec. 31, 2019shares
Class of Warrant or Right [Line Items]
Common stock and preferred stock, shares authorized (in shares)	750,000,000	750,000,000	750,000,000
Common stock, shares authorized (in shares)	600,000,000	600,000,000	600,000,000	600,000,000
Preferred stock, shares authorized (in shares)	150,000,000	150,000,000	150,000,000	150,000,000
Outstanding warrants
Class of Warrant or Right [Line Items]
Number of shares called by each warrant (in shares)	1	1
Warrant exercise price per share (in dollars per share) | $ / shares	$ 11.50	$ 11.50
Warrant period following business combination		30 days
Public Warrant
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	23,000,000	23,000,000
Warrant redemption price per share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Redemption notice period	30 days
Redemption price threshold (in usd per share) | $ / shares	$ 18	$ 18
Redemption threshold, number of trading days | day		20
Redemption threshold, number of consecutive trading days | day		30
Private Warrant
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)	890,000	890,000

STOCK BASED COMPENSATION EXPE_3

STOCK BASED COMPENSATION EXPENSE - Narrative (Details)	May 06, 2020shares	Jun. 30, 2020USD ($)daymilestoneshares	May 31, 2020shares	Dec. 31, 2018shares	Jun. 30, 2020USD ($)daymilestone$ / sharesshares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)daymilestone$ / sharesshares	Jun. 30, 2019USD ($)	Dec. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	20,000,000
Maximum period of annual share authorization increases	10 years
Maximum annual basis increase	0.025
Unrecognized compensation costs, options | $		$ 3,600,000			$ 3,600,000		$ 3,600,000
Outstanding options (in shares)		39,717,079			39,717,079		39,717,079		40,012,825
Options granted (in shares)							1,582,496
Weighted average grant date fair value (in dollars per share) | $ / shares							$ 8.20
Exercise of stock options (in shares)							1,786,912
Proceeds from the exercise of stock options | $							$ 1,884,000	$ 0
Accelerated share-based compensation cost | $		$ 8,100,000
Weighted average exercise price of options granted (in dollars per share) | $ / shares							$ 5.30
Options, weighted average remaining contractual term							8 years 4 months 2 days		8 years 9 months 10 days
Stock-based compensation expense | $					$ 38,227,000	$ 1,434,000	$ 39,540,000	$ 2,587,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	4,000,000
Maximum annual basis increase	0.010
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding options (in shares)		5,153,485			5,153,485		5,153,485		5,153,485
Options granted (in shares)							0
Performance Shares | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)			180,153	6,005,139
Weighted average grant date fair value (in dollars per share) | $ / shares					$ 1.20
Weighted average exercise price of options granted (in dollars per share) | $ / shares					$ 1.39
Options, weighted average remaining contractual term					8 years 6 months 3 days
Stock-based compensation expense | $					$ 7,200,000
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost recognition period					2 years 9 months 14 days
Grants in period (in shares)		2,163,000
Share-based compensation cost not yet recognized | $		$ 71,400,000			$ 71,400,000		$ 71,400,000
Time-Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Time-Based Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		1 year
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		16,356,000
Award vesting period		3 years
Share-based compensation cost not yet recognized | $		$ 455,000,000			$ 455,000,000		$ 455,000,000
Number of award vesting milestones | milestone		3			3		3
Vesting threshold trading days | day		20			20		20
Weighted average volatility rate		70.00%
Risk-free interest rate		0.26%
Award requisite service period		3 years
Shares granted, value | $		$ 466,700,000
Weighted average remaining service period					2 years 10 months 24 days
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield							0.00%		0.00%
Compensation cost recognition period							1 year 11 months 19 days
Share-based Payment Arrangement, Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate							1.70%		2.70%
Share-based Payment Arrangement, Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate							0.20%		1.40%

STOCK BASED COMPENSATION EXPE_4

STOCK BASED COMPENSATION EXPENSE - Share-based Compensation Arrangement Assumptions (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)	$ 9.66
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Share-based Payment Arrangement, Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)	$ 3.58	$ 1.05
Risk-free interest rate	0.20%	1.40%
Expected term (in years)	6 months 3 days	5 years
Expected volatility	83.60%	70.00%
Share-based Payment Arrangement, Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in dollars per share)		$ 3.58
Risk-free interest rate	1.70%	2.70%
Expected term (in years)	6 years 3 months 18 days	6 years 3 months 18 days
Expected volatility	85.80%	85.10%

STOCK BASED COMPENSATION EXPE_5

STOCK BASED COMPENSATION EXPENSE - Stock Option Activity (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020$ / sharesshares	Dec. 31, 2019$ / sharesshares
Options
Outstanding at beginning of period (in shares) | shares	40,012,825
Granted (in shares) | shares	1,582,496
Exercised (in shares) | shares	1,786,912
Cancelled (in shares) | shares	91,330
Options at end of period (in shares) | shares	39,717,079	40,012,825
Vested and exercisable as of period end (in shares) | shares	36,696,437
Weighted Average Exercise Price Per share
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 1.08
Granted (in dollars per share) | $ / shares	5.30
Exercised (in dollars per share) | $ / shares	1.05
Cancelled (in dollars per share) | $ / shares	1.65
Outstanding at end of period (in dollars per share) | $ / shares	1.25	$ 1.08
Vested and exercisable at period end (in dollars per share) | $ / shares	$ 1.19
Weighted Average Remaining Contractual Term (Years)
Outstanding at beginning of period (in years)	8 years 4 months 2 days	8 years 9 months 10 days
Vested and exercisable at period end (in years)	8 years 3 months 21 days

STOCK BASED COMPENSATION EXPE_6

STOCK BASED COMPENSATION EXPENSE - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 38,227	$ 1,434	$ 39,540	$ 2,587
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	2,880	155	3,238	305
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 35,347	$ 1,279	$ 36,302	$ 2,282

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) € in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2019USD ($)a	Sep. 30, 2020EUR (€)	Jun. 30, 2020USD ($)
Other Commitments [Line Items]
Professional fees			$ 3
Forecast
Other Commitments [Line Items]
Payments to acquire joint venture | €		€ 7.4
Forecast | Nikola Iveco Europe B.V.
Other Commitments [Line Items]
Equity method investment, volume and profit allocation percentage		50.00%
Forecast | Iveco | Nikola Iveco Europe B.V.
Other Commitments [Line Items]
Equity method investment, volume and profit allocation percentage		50.00%
Forecast | Nikola Iveco Europe B.V.
Other Commitments [Line Items]
Equity method investment, ownership percentage		50.00%
Forecast | Nikola Iveco Europe B.V. | Iveco
Other Commitments [Line Items]
Equity method investment, ownership percentage		50.00%
Coolidge, Arizona
Other Commitments [Line Items]
Area of land | a	430
Manufacturing Facility Commitment
Other Commitments [Line Items]
Construction completion, maximum extension period (in years)	2 years
Construction completion period (in years)	5 years
Security deposit payable	$ 4
Construction completion extension period (in years)	1 year
Construction completion extension fee	$ 0.5
Construction completion deadline monthly extension fee	$ 0.2

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss	$ (86,643)	$ (16,766)	$ (119,806)	$ (46,863)
Less: Premium on repurchase of redeemable convertible preferred stock	(13,407)	0	(13,407)	0
Net loss attributable to common stockholder, basic	(100,050)	(16,766)	(133,213)	(46,863)
Net loss attributable to common stockholder, diluted	$ (100,050)	$ (16,766)	$ (133,213)	$ (46,863)
Denominator:
Weighted average shares outstanding, basic and diluted (in shares)	303,785,616	260,406,343	287,822,558	260,406,343
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.33)	$ (0.06)	$ (0.46)	$ (0.18)

NET LOSS PER SHARE - Schedule_2

NET LOSS PER SHARE - Schedule of Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	82,126,079	39,214,816	82,126,079	39,214,816
Outstanding warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	23,890,000	0	23,890,000	0
Stock options, including performance stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	39,717,079	39,214,816	39,717,079	39,214,816
Restricted stock units, including market based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	18,519,000	0	18,519,000	0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jul. 22, 2020
Subsequent Event [Line Items]
Proceeds from issuance of common stock		$ 50,349	$ 0
Public Warrant
Subsequent Event [Line Items]
Warrant redemption price per share (in dollars per share)		$ 0.01
Subsequent Event
Subsequent Event [Line Items]
Common stock issued (in shares)	18,070,302
Proceeds from issuance of common stock	$ 207,800
Subsequent Event | Public Warrant
Subsequent Event [Line Items]
Warrant exercise price per share (in dollars per share)				$ 11.50
Warrant redemption price per share (in dollars per share)				$ 0.01

Uncategorized Items - nkla-2020

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201807Member
Money Market Funds [Member]
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	$ 73,005,000
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	662,406,000
Cash and Cash Equivalents, at Carrying Value	us-gaap_CashAndCashEquivalentsAtCarryingValue	73,000,000
Cash and Cash Equivalents, at Carrying Value	us-gaap_CashAndCashEquivalentsAtCarryingValue	662,400,000
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	0
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	0
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	73,005,000
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	662,406,000
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	0
Cash and Cash Equivalents, Fair Value Disclosure	us-gaap_CashAndCashEquivalentsFairValueDisclosure	$ 0