Nikola (0A3R) 10-K 28 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 26, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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	581-8888
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	NKLA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1
Entity Common Stock, Shares Outstanding (in shares)		1,335,615,165
Documents Incorporated by Reference	Items 10, 11, 12, 13 and 14 of Part III incorporate by reference information from the registrant’s proxy statement to be filed with the Securities and Exchange Commission in connection with the solicitation of proxies for the registrant’s 2024 Annual Meeting of Stockholders.
Entity Central Index Key	0001731289
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Phoenix, Arizona
Auditor Firm ID	42

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 464,715	$ 225,850
Restricted cash and cash equivalents	1,224	10,600
Accounts receivable, net	17,974	31,638
Inventory	62,588	111,870
Prepaid expenses and other current assets	25,911	27,943
Assets subject to assignment for the benefit of creditors, current portion	0	29,025
Total current assets	572,412	436,926
Restricted cash and cash equivalents	28,026	77,459
Long-term deposits	14,954	34,279
Property, plant and equipment, net	503,416	417,785
Intangible assets, net	85,860	92,473
Investment in affiliates	57,062	62,816
Goodwill	5,238	6,688
Other assets	7,889	8,107
Assets subject to assignment for the benefit of creditors	0	100,125
Total assets	1,274,857	1,236,658
Current liabilities
Accounts payable	44,133	93,242
Accrued expenses and other current liabilities	207,022	179,571
Debt and finance lease liabilities, current (including zero and $50.0 million measured at fair value, respectively)	8,950	61,675
Liabilities subject to assignment for the benefit of creditors, current portion	0	49,102
Total current liabilities	260,105	383,590
Long-term debt and finance lease liabilities, net of current portion	269,279	290,128
Operating lease liabilities	4,765	6,091
Other long-term liabilities	21,512	6,684
Deferred tax liabilities, net	22	15
Liabilities subject to assignment for the benefit of creditors	0	23,671
Total liabilities	555,683	710,179
Commitments and contingencies (Note 14)
Stockholders' equity
Preferred stock, $0.0001 par value, 150,000,000 shares authorized, no shares issued and outstanding as of December 31, 2023 and 2022	0	0
Common stock, $0.0001 par value, 1,600,000,000 and 800,000,000 shares authorized as of December 31, 2023 and 2022, respectively, 1,330,083,002 and 512,935,485 shares issued and outstanding as of December 31, 2023 and 2022, respectively	133	51
Additional paid-in capital	3,790,272	2,562,855
Accumulated deficit	(3,071,069)	(2,034,850)
Accumulated other comprehensive loss	(162)	(1,577)
Total stockholders' equity	719,174	526,479
Total liabilities and stockholders' equity	$ 1,274,857	$ 1,236,658

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Debt and finance lease liabilities, current measured at fair value	$ 0	$ 50,000,000
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)	1,600,000,000	800,000,000
Common stock, shares issued (in shares)	1,330,083,002	512,935,485
Common stock, shares outstanding (in shares)	1,330,083,002	512,935,485

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Revenue	$ 35,839,000	$ 49,725,000	$ 0
Cost of revenues:
Cost of revenues	249,906,000	135,694,000	0
Gross loss	(214,067,000)	(85,969,000)	0
Operating expenses:
Research and development	208,160,000	270,480,000	292,951,000
Selling, general and administrative	198,768,000	346,186,000	400,575,000
Loss on supplier deposits	28,834,000	0	0
Total operating expenses	435,762,000	616,666,000	693,526,000
Loss from operations	(649,829,000)	(702,635,000)	(693,526,000)
Other income (expense):
Interest expense, net	(76,023,000)	(17,712,000)	(481,000)
Revaluation of warrant liability	371,000	3,903,000	3,051,000
Gain on divestiture of affiliate	70,849,000	0	0
Loss on debt extinguishment	(31,025,000)	0	0
Other income (expense), net	(162,534,000)	(1,023,000)	4,102,000
Loss before income taxes and equity in net loss of affiliates	(848,191,000)	(717,467,000)	(686,854,000)
Income tax expense	12,000	6,000	4,000
Loss before equity in net loss of affiliates	(848,203,000)	(717,473,000)	(686,858,000)
Equity in net loss of affiliates	(16,418,000)	(20,665,000)	(3,580,000)
Net loss from continuing operations	(864,621,000)	(738,138,000)	(690,438,000)
Discontinued operations:
Loss from discontinued operations	(76,726,000)	(46,100,000)	0
Loss from deconsolidation of discontinued operations	(24,935,000)	0	0
Net loss from discontinued operations	(101,661,000)	(46,100,000)	0
Net loss	$ (966,282,000)	$ (784,238,000)	$ (690,438,000)
Basic net loss per share:
Net loss from continuing operations(in dollars per share)	$ (1.08)	$ (1.67)	$ (1.73)
Net loss from discontinued operations (in dollars per share)	(0.13)	(0.11)	0
Net loss (in dollars per share)	(1.21)	(1.78)	(1.73)
Diluted net loss per share:
Net loss (in dollars per share)	$ (1.21)	$ (1.78)	$ (1.74)
Weighted-average shares outstanding:
Basic (in shares)	800,030,551	441,800,499	398,655,081
Diluted (in shares)	800,030,551	441,800,499	398,784,392
Truck sales
Revenues:
Revenue	$ 30,061,000	$ 45,931,000	$ 0
Cost of revenues:
Cost of revenues	242,519,000	132,556,000	0
Service and other
Revenues:
Revenue	5,778,000	3,794,000	0
Cost of revenues:
Cost of revenues	$ 7,387,000	$ 3,138,000	$ 0

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (966,282)	$ (784,238)	$ (690,438)
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	1,415	(1,379)	(437)
Comprehensive loss	$ (964,867)	$ (785,617)	$ (690,875)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common stock issued under Tumim Purchase Agreements	Common stock issued under Equity Distribution Agreement, net	Common stock issued for conversions of convertible notes	Common stock issued in registered direct offering	Common stock issued in public offerings	Common Stock	Common Stock Common stock issued under Tumim Purchase Agreements	Common Stock Common stock issued under Equity Distribution Agreement, net	Common Stock Common stock issued for conversions of convertible notes	Common Stock Common stock issued in registered direct offering	Common Stock Common stock issued in public offerings	Additional Paid-in Capital	Additional Paid-in Capital Common stock issued under Tumim Purchase Agreements	Additional Paid-in Capital Common stock issued under Equity Distribution Agreement, net	Additional Paid-in Capital Common stock issued for conversions of convertible notes	Additional Paid-in Capital Common stock issued in registered direct offering	Additional Paid-in Capital Common stock issued in public offerings	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period (in shares) at Dec. 31, 2020							391,041,347
Balance at beginning of period at Dec. 31, 2020	$ 980,141						$ 39						$ 1,540,037						$ (560,174)	$ 239
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	3,472,267						3,472,267
Exercise of stock options	$ 4,572						$ 1						4,571
Issuance of shares for RSU awards (in shares)							2,523,328
Common stock issued for commitment shares (in shares)							407,743
Common stock issued for commitment shares	5,564												5,564
Common stock issued for acquisition (in shares)							1,682,367
Common stock issued for acquisition	19,139												19,139
Reclassification from mezzanine equity to equity after elimination of put right	5,532												5,532
Common stock issued (in shares)							14,213,498
Common stock issued	163,788						$ 1						163,787
Stock-based compensation	205,711												205,711
Net loss	(690,438)																		(690,438)
Other comprehensive income	(437)																			(437)
Balance at end of period (in shares) at Dec. 31, 2021							413,340,550
Balance at end of period at Dec. 31, 2021	$ 693,572						$ 41						1,944,341						(1,250,612)	(198)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	6,424,780						6,424,780
Exercise of stock options	$ 7,105						$ 1						7,104
Issuance of shares for RSU awards (in shares)							8,527,456
Common stock issued for acquisition (in shares)							22,070,228
Common stock issued for acquisition	67,535						$ 2						67,533
Common stock issued (in shares)								17,248,244	45,324,227
Common stock issued		$ 123,672	$ 163,462					$ 2	$ 5					$ 123,670	$ 163,457
Fair value of vested portion of Romeo stock awards	1,345												1,345
Stock-based compensation	255,405												255,405
Net loss	(784,238)																		(784,238)
Other comprehensive income	$ (1,379)																			(1,379)
Balance at end of period (in shares) at Dec. 31, 2022	512,935,485						512,935,485
Balance at end of period at Dec. 31, 2022	$ 526,479						$ 51						2,562,855						(2,034,850)	(1,577)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	6,723,629						6,723,629
Exercise of stock options	$ 7,155						$ 1						7,154
Issuance of shares for RSU awards (in shares)							13,247,573
Issuance of shares for RSU awards	0						$ 1						(1)
Common stock issued (in shares)								32,211,777	68,351,243		59,374,999	163,244,049
Common stock issued		$ 67,587	$ 117,525		$ 63,156	$ 127,893		$ 3	$ 7		$ 6	$ 16		$ 67,584	$ 117,518		$ 63,150	$ 127,877
Issuance of common stock for conversion of notes (in shares)										494,594,247
Issuance of common stock for conversion of notes				$ 526,943						$ 50						$ 526,893
Common stock received for contingent stock consideration (in shares)							(20,600,000)
Common stock received for contingent stock consideration	(69,939)						$ (2)												(69,937)
Reclassification of conversion features embedded in Toggle Convertible Notes to equity	241,851												241,851
Reclassification of share-based payment awards from liability to equity	20,992												20,992
Reclassification of share-based payment awards from equity to liability	(10,401)												(10,401)
Stock-based compensation	64,800												64,800
Net loss	(966,282)																		(966,282)
Other comprehensive income	$ 1,415																			1,415
Balance at end of period (in shares) at Dec. 31, 2023	1,330,083,002						1,330,083,002
Balance at end of period at Dec. 31, 2023	$ 719,174						$ 133						$ 3,790,272						$ (3,071,069)	$ (162)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss from continuing operations	$ (966,282)	$ (784,238)	$ (690,438)
Less: Loss from discontinued operations	(101,661)	(46,100)	0
Loss from continuing operations	(864,621)	(738,138)	(690,438)
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:
Depreciation and amortization	35,890	22,765	8,231
Stock-based compensation	75,391	252,445	205,711
Non-cash in-kind services	0	0	46,271
Equity in net loss of affiliates	16,418	20,665	3,580
Revaluation of financial instruments	205,589	(174)	(3,051)
Revaluation of contingent stock consideration	(43,981)	0	0
Inventory write-downs	71,218	19,705	4,927
Non-cash interest expense	79,201	15,481	0
Loss on supplier deposits	28,834	0	0
Gain on divestiture of affiliate	(70,849)	0	0
Loss on debt extinguishment	31,025	0	0
Issuance of common stock for commitment shares	0	0	5,564
Other non-cash activity	4,343	873	1,626
Changes in operating assets and liabilities:
Accounts receivable, net	13,665	(31,638)	0
Inventory	(23,756)	(141,168)	(17,412)
Prepaid expenses and other current assets	(44,732)	(27,681)	(10,967)
Long-term deposits	(1,377)	(4,306)	(4,721)
Other assets	(1,530)	(912)	(1,216)
Accounts payable, accrued expenses and other current liabilities	(14,613)	29,669	96,144
Operating lease liabilities	(2,009)	(843)	(50)
Other long-term liabilities	9,716	1,694	48,647
Net cash used in operating activities	(496,178)	(581,563)	(307,154)
Cash flows from investing activities
Purchases and deposits for property, plant and equipment	(120,516)	(168,257)	(179,269)
Divestiture of affiliates	36,000	0	0
Proceeds from the sale of assets	20,742	18	200
Payments to assignee	(2,725)	0	0
Investments in affiliates	(250)	(23,027)	(25,000)
Issuance of senior secured note receivable and prepaid acquisition-related consideration	0	(27,791)	0
Settlement of price differentials	0	(6,588)	(3,412)
Net cash used in investing activities	(66,749)	(225,645)	(207,481)
Cash flows from financing activities
Proceeds from the exercise of stock options	7,395	6,867	4,785
Proceeds from issuances of convertible debt instruments, net of discount and issuance costs	386,733	233,214	0
Proceeds from issuance of common stock under Equity Distribution Agreement, net of commissions paid	115,893	165,143	0
Proceeds from issuance of debt, promissory notes and notes payable, net of issuance costs	0	54,000	24,632
Proceeds from issuance of financing obligations, net of issuance costs	56,148	44,823	0
Proceeds from insurance premium financing	5,223	6,637	0
Payment for Coupon Make-Whole Premiums	(35,241)	0	0
Repayment of debt, promissory notes and notes payable	(45,469)	(30,526)	(4,100)
Payments on insurance premium financing	(5,369)	(4,638)	0
Payments on finance lease liabilities and financing obligation	(1,315)	(316)	(863)
Other financing activities	0	0	(644)
Net cash provided by financing activities	742,983	598,876	187,598
Net increase (decrease) in cash and cash equivalents, including restricted cash and cash equivalents	180,056	(208,332)	(327,037)
Cash and cash equivalents, including restricted cash and cash equivalents, beginning of period	313,909	522,241	849,278
Cash and cash equivalents, including restricted cash and cash equivalents, end of period	493,965	313,909	522,241
Cash flows from discontinued operations:
Operating activities	(4,964)	4,857	0
Investing activities	(1,804)	(2,469)	0
Financing activities	(572)	(198)	0
Net cash provided by (used in) discontinued operations	(7,340)	2,190	0
Supplemental cash flow disclosures:
Cash paid for interest	8,327	4,097	797
Cash interest received	11,522	1,449	512
Supplemental noncash investing and financing activities:
Reclassification of conversion features embedded in Toggle Convertible Notes to equity	241,851	0	0
Contingent stock consideration for divestiture of affiliate	25,956	0	0
Reclassification from liability to equity for certain share-based awards	20,992	0	0
Reclassification from equity to liability for certain share-based awards	10,401	0	0
Net assets acquired in Romeo acquisition	0	77,137	0
Purchases of property, plant and equipment included in liabilities	16,083	34,946	27,510
Leased assets obtained in exchange for new finance lease liabilities	32,820	1,547	646
Toggle Unsecured Convertible Notes issued for paid in kind interest	12,998	10,939	0
Accrued PIK interest	1,170	1,998	0
Accrued commissions under Equity Distribution Agreement	49	1,681	0
Embedded derivative asset bifurcated from Convertible Notes	0	1,500	0
Stock option proceeds receivable	0	238	0
Accrued debt and equity issuance costs	887	20	0
Common stock issued for commitment shares	0	0	5,564
Common stock issued for investments in affiliates, including common stock with embedded put right	0	0	32,376
Acquired intangible assets included in liabilities	0	0	47,181
Senior Convertible Notes
Supplemental noncash investing and financing activities:
Conversion of convertible note	246,431	0	0
8.25% Convertible Notes
Supplemental noncash investing and financing activities:
Conversion of convertible note	131,361	0	0
Embedded derivative liability bifurcated from April 2023 Toggle Convertible Notes	47,250	0	0
April 2023 Toggle Convertible Notes
Supplemental noncash investing and financing activities:
Conversion of convertible note	115,152	0	0
Embedded derivative liability bifurcated from April 2023 Toggle Convertible Notes	21,180	0	0
Private Placement
Cash flows from financing activities
Proceeds from issuance of shares	67,587	123,672	163,788
Private Offering [Member]
Cash flows from financing activities
Proceeds from issuance of shares	63,246	0	0
Common stock issued in public offerings
Cash flows from financing activities
Proceeds from public offerings, net of underwriter's discount	$ 128,152	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Dec. 31, 2023
8.25% Convertible Notes
Stated Interest rate	8.25%

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION (a) Overview Nikola Corporation ("Nikola" or the "Company") is a designer and manufacturer of heavy-duty commercial FCEVs and BEVs, and energy infrastructure solutions. On June 3, 2020 (the "Closing Date"), VectoIQ Acquisition Corp. ("VectoIQ"), consummated a merger pursuant to the Business Combination Agreement, dated March 2, 2020 (the "Business Combination Agreement"), by and among 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 October 14, 2022, the Company completed the acquisition (the "Romeo Acquisition") of all of the outstanding common stock of Romeo Power, Inc. (“Romeo”) for a total purchase price of $78.6 million. See Note 3, Business Combinations . On June 30, 2023, pursuant to the Assignment, the Company transferred ownership of all of Romeo's right, title and interest in and to all of its tangible and intangible assets, subject to certain agreed upon exclusions (collectively, the "Assets") to SG Service Co., LLC, in its sole and limited capacity as Assignee for the Benefit of Creditors of Romeo ("Assignee"), and also designated Assignee to act as the assignee for the benefit of creditors of Romeo, such that, as of June 30, 2023, Assignee succeeded to all of Romeo’s right, title and interest in and to the Assets. The results of operations of Romeo are reported as discontinued operations for the years ended December 31, 2023 and 2022. See Note 11, Deconsolidation of Subsidiary , for additional information. All references made to financial data in this Annual Report on Form 10-K are related to the Company's continuing operations, unless otherwise specifically noted. (b) Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with GAAP and pursuant to the regulations of the SEC. 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. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. (c) Funding Risks and Going Concern In accordance with the ASC 205-40, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. As an early stage growth company, the Company's ability to access capital is critical. Until the Company can generate sufficient revenue to cover its operating expenses, working capital and capital expenditures, the Company will need to raise additional capital. Additional stock financing may not be available on favorable terms, or at all, and would be dilutive to current stockholders. Debt financing, if available, may involve restrictive covenants and dilutive financing instruments. The Company has secured and intends to employ various strategies to obtain the required funding for future operations such as continuing to access capital through the Equity Distribution Agreement, see Note 9, Capital Structure. However, the ability to access the Equity Distribution Agreement is dependent on the market price of the Company’s common stock, trading volume, and availability of unreserved shares, which cannot be assured, and as a result cannot be included as sources of liquidity for the Company’s ASC 205-40 analysis. If capital is not available to the Company when, and in the amounts needed, the Company would be required to delay, scale back, or abandon some or all of its development programs and operations, which could materially harm the Company's business, financial condition and results of operations. The result of the Company’s ASC 205-40 analysis, due to uncertainties discussed above, is that there is substantial doubt about the Company’s ability to continue as a going concern through the next twelve months from the date of issuance of these consolidated financial statements. 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated. (b) Comprehensive Loss Comprehensive loss represents the net loss for the period adjusted for other comprehensive loss. Other comprehensive loss is comprised of currency translation adjustments relating to the Company's subsidiaries and equity method investments, whose functional currency is not the U.S. dollar. (c) Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the balance sheet date, as well as reported amounts of revenue and expenses during the reporting period. Th e Company's most significant estimates and judgments involve valuation of the Company's stock-based compensation related to the fair value of market-based restricted stock units, assignment of fair value and allocation of purchase price in connection with the Romeo Acquisition, the valuations of warrant liabilities, derivative liabilities, the Put Right and Price Differential, estimates related to the Company's lease assumptions and revenue recognition, contingent liabilities, including litigation reserves, inventory valuation and warranty reserves, including inputs and assumptions related to recall campaigns. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. (d) Segment Information Under ASC 280, Segment Reporting , operating segments are defined as components of an enterprise where discrete financial information is available that is evaluated regularly by the chief operating decision-maker ("CODM"), in deciding how to allocate resources and in assessing performance. The Company has two business units, the Truck business unit and Energy business unit. The Truck business unit is manufacturing and selling FCEV and BEV trucks that provide, or are expected to provide, environmentally friendly, cost effective solutions to the trucking sector. The Energy business unit is developing and constructing a network of hydrogen fueling stations to meet hydrogen fuel demand for the Company's customers. The Company's chief executive officer, who is also the CODM, makes decisions and manages the Company's operations as a single reporting unit, and single operating and reportable segment for purposes of allocating resources and evaluating financial performance. (e) Accounts Receivable, net Accounts receivable, net, are reported at the invoiced amount, less an allowance for potential uncollectible amounts. The Company had no allowance for uncollectible amounts as of December 31, 2023 and 2022. (f) 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 exceeds federally insured limits. The Company has not experienced any credit loss relating to its cash equivalents and accounts receivable. (g) Concentration of Supplier Risk The Company is subject to risks related to its dependence on suppliers as some of the components and technologies used in the Company’s products are produced by a limited number of sources or contract manufacturers. The inability of these suppliers to deliver necessary components in a timely manner, at prices and quantities acceptable to the Company may cause the Company to incur transition costs to other suppliers and could have a material and adverse impact on the Company’s business, growth and financial and operating results. For example, the Company relies on a limited number of suppliers of battery products. The manufacturing process of battery products is complex, highly technical and can be affected by supply chain disruptions and component shortages. (h) Concentration of Customer Risk The Company is subject to risks related to its dependence on dealers to facilitate sales to end users. The Company sold FCEV and BEV trucks to ten dealers during the year ended December 31, 2023, with four dealers individually representing sales in excess of 10% of total revenue. The loss of any of these dealers, or a significant reduction in sales to any such dealer, could adversely affect the Company's revenues. (i) 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 to be cash equivalents. As of December 31, 2023 and 2022 the Company had $464.7 million and $225.9 million of cash and cash equivalents, respectively. Cash equivalents included $29.8 million and zero of highly liquid investments as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, the Company had $29.3 million and $88.1 million, respectively, in current and non-current restricted cash. Restricted cash represents cash that is restricted as to withdrawal or usage and primarily consists of securitization of the Company's letters of credit, leases, and debt. See Note 8, Debt and Finance Lease Liabilities , for additional details. 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 December 31, 2023 2022 2021 Cash and cash equivalents $ 464,715 $ 225,850 $ 497,241 Restricted cash and cash equivalents—current 1,224 10,600 — Restricted cash and cash equivalents—non-current 28,026 77,459 25,000 Cash, cash equivalents and restricted cash and cash equivalents $ 493,965 $ 313,909 $ 522,241 (j) Fair Value of Financial Instruments The carrying value and fair value of the Company's financial instruments are as follows: As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents—money market $ 29,839 $ — $ — $ 29,839 Derivative asset — — 69 69 Liabilities Derivative liability $ — $ — $ 8,871 $ 8,871 Warrant liability — — 10 10 As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Derivative asset $ — $ — $ 170 $ 170 Liabilities Warrant liability $ — $ — $ 381 $ 381 Senior Convertible Notes — — 50,000 50,000 Put Premium Derivative Asset In June 2022, the Company completed a private placement of $200.0 million aggregate principal amount of the June 2022 Toggle Convertible Notes. In conjunction with the issuance of the June 2022 Toggle Convertible Notes, the Company entered into a premium letter agreement (the "Put Premium") with the purchasers (the "Note Purchasers") of the June 2022 Toggle Convertible Notes which requires the Note Purchasers to pay $9.0 million to the Company if during the period through the date that is thirty months after the closing date of the private placement of June 2022 Toggle Convertible Notes, the last reported sale price of the Company's common stock has been at least $20.00 for at least 20 trading days during any consecutive 40 trading day period. The Put Premium was determined to be an embedded derivative asset and met the criteria to be separated from the host contract and carried at fair value. The derivative is measured both initially and in subsequent periods at fair value, with changes in fair value recognized in other income (expense), net on the consolidated statements of operations. The fair value of the derivative asset is included in prepaid expenses and other current assets on the consolidated balance sheets. The change in fair value of the derivative asset was as follows: Derivative asset Estimated fair value at December 31, 2021 $ — Recognition of derivative asset 1,500 Change in estimated fair value (1,330) Estimated fair value at December 31, 2022 170 Change in estimated fair value (101) Estimated fair value at December 31, 2023 $ 69 The fair value of the derivative asset was immaterial as of December 31, 2023 and 2022. Warrant Liability As a result of the Business Combination, the Company assumed a warrant liability (the "Warrant Liability") related to previously issued private warrants in connection with VectoIQ's initial public offering. Additionally, as a result of the Romeo Acquisition, the Company assumed Romeo's warrant liability previously issued in connection with Romeo's initial public offering (together the "Warrant Liabilities"). The Warrant Liabilities are remeasured to their fair value at each reporting period and upon settlement. The change in fair value was recognized in revaluation of warrant liability on the consolidated statements of operations. The change in fair value of the Warrant Liabilities was as follows: Warrant liabilities Estimated fair value at December 31, 2020 $ 7,335 Change in estimated fair value (3,051) Estimated fair value at December 31, 2021 4,284 Change in estimated fair value (3,903) Estimated fair value at December 31, 2022 381 Change in estimated fair value (371) Estimated fair value at December 31, 2023 $ 10 The fair value of the warrants outstanding was estimated using the Black-Scholes model. The application of the Black-Scholes model requires the use of a number of inputs and significant assumptions including volatility. The following reflects the inputs and assumptions used: As of December 31, 2023 2022 Stock price $ 0.88 $ 2.16 Exercise price $ 11.50 $ 11.50 Remaining term (in years) 1.42 2.42 Volatility 100 % 100 % Risk-free rate 4.51 % 4.28 % Expected dividend yield — — Derivative Liabilities Put Right and Price Differential derivative liabilities On June 22, 2021 (the "WVR Closing Date"), the Company entered into a Membership Interest Purchase Agreement (the “MIPA”) with Wabash Valley Resources LLC (“WVR”) and the sellers party thereto (collectively, the “Sellers”), pursuant to which, the Company purchased a 20% equity interest in WVR in exchange for cash and the Company’s common stock (see Note 7, Investments in Affiliates ). Under the original MIPA, each Seller had a right but not the obligation, in its sole discretion, to cause the Company to purchase a portion of such Seller's shares outside the specified blackout windows, at $14.86 per share of common stock (the "Put Right") with a maximum common share repurchase of $10.0 million in aggregate. As of the WVR Closing Date, the potential cash settlement from the shares of common stock subject to the Put Right and the fair value of the embedded Put Right was recorded in temporary equity. The fair value of the Put Right, a level 3 measurement, was estimated using a Monte Carlo simulation model. The application of the Monte Carlo simulation model requires the use of a number of inputs and significant assumptions including volatility. The fair value of the Put Right was $3.2 million as of the WVR Closing Date. The following reflects the inputs and assumptions used: As of June 22, 2021 Stock price $ 17.32 Strike price $ 14.86 Volatility 95 % Risk-free rate 0.10 % On September 13, 2021, the Company entered into an Amended Membership Interest Purchase Agreement (the "Amended MIPA") with WVR and the Sellers, pursuant to which the Put Right, was removed in its entirety and replaced with the first price differential and second price differential (together the "Price Differential"). The first price differential was equal to $14.86 (the "Issue Price"), less the average closing price for shares of the Company's common stock for the 15 consecutive days immediately following September 20, 2021. The second price differential was equal to the Issue Price less the average closing price for shares of the Company's common stock for the five As a result of the Amended MIPA, the shares of common stock with the embedded Put Right were deemed modified and $13.2 million was reclassified from temporary equity to equity on the consolidated balance sheets. The Price Differential was a freestanding financial instrument and accounted for as a derivative liability. The fair value of the derivative at modification was $7.7 million and was recognized in accrued expenses and other current liabilities The derivative liability was remeasured to its fair value at each reporting period and upon settlement. In accordance with the Amended MIPA, the first price differential with the Sellers was settled in the fourth quarter of 2021 for $3.4 million and the second price differential was settled in the third quarter of 2022 for $6.6 million, eliminating the Company's derivative liability balance as of December 31, 2022. The derivative liability was remeasured at each reporting period with changes in its fair value recorded in other income (expense), net on the consolidated statements of operations. The change in fair value of the derivative liability was as follows: Derivative liability Estimated fair value at December 31, 2020 $ — Recognition of derivative liability 7,705 Change in estimated fair value (104) Settlement of first price differential (3,412) Estimated fair value at December 31, 2021 4,189 Change in estimated fair value 2,399 Settlement of second price differential (6,588) Estimated fair value at December 31, 2022 $ — Embedded conversion features derivative liabilities On April 11, 2023, the Company completed an exchange (the "Exchange") of $100.0 million aggregate principal amount of the Company's existing June 2022 Toggle Convertible Notes for the issuance of $100.0 million aggregate principal amount of 8.00% / 11.00% Series B convertible senior PIK toggle notes (the "April 2023 Toggle Convertible Notes"). The April 2023 Toggle Convertible Notes were issued pursuant to an indenture dated as of April 11, 2023 (the "April 2023 Toggle Convertible Notes Indenture"). Additionally, in June 2023, the Company completed a private placement of $11.0 million aggregate principal amount of unsecured 8.00% / 8.00% Series C convertible senior PIK toggle notes (the "June 2023 Toggle Convertible Notes" and, together with the June 2022 Toggle Convertible Notes and the April 2023 Toggle Convertible Notes, the "Toggle Convertible Notes"). The June 2023 Toggle Convertible Notes were issued pursuant to an indenture dated as of June 23, 2023 (the "June 2023 Toggle Convertible Notes Indenture"). The April 2023 Toggle Convertible Notes Indenture and June 2023 Toggle Convertible Notes Indenture, among other things, limited conversion of the notes in certain instances until the earlier to occur of (x) an increase in the number of authorized shares in an amount sufficient to, among other things, allow for the issuance of common stock underlying the notes and (y) October 11, 2023, and provided that the Company shall elect to settle conversions of the notes in cash until such increase in the number of authorized shares occurred, and the Company obtained the stockholder approval contemplated by Rule 5635 of the Nasdaq listing rules ("Nasdaq Rule 5635"). The conversion features embedded to the April 2023 Toggle Convertible Notes and June 2023 Toggle Convertible Notes were bifurcated and recognized separately at fair value due to the temporary requirement to settle conversions in cash, in certain instances, until stockholder approval as contemplated by Nasdaq Rule 5635 was obtained to increase the number of authorized shares. Upon the Exchange, the Company recognized $21.2 million for the embedded conversion features as a derivative liability within accrued expenses and other current liabilities on the consolidated balance sheets. During the third quarter of 2023, and commensurate with the approval to increase the number of authorized shares on August 3, 2023, the Company reassessed the conversion features bifurcated from the April 2023 Toggle Convertible Notes and June 2023 Toggle Convertible Notes. As of August 3, 2023, the conversion features met all equity classification criteria, and as a result, the derivative liabilities were remeasured as of August 3, 2023, and reclassified from accrued expenses and other current liabilities to additional paid-in capital on the consolidated balance sheets. Changes in the fair value of the derivative liabilities are recorded within other income (expense), net on the consolidated statements of operations. During the year ended December 31, 2023 , the change in fair value of the derivative liabilities was as follows: Derivative liability Estimated fair value as of December 31, 2022 $ — Recognition of derivative liability 21,180 Change in estimated fair value 220,671 Reclassification to equity (241,851) Estimated fair value at December 31, 2023 $ — The fair value of the conversion features was estimated b y applying a with-and-without approach to a binomial lattice model. The following reflects the ranges of inputs and assumptions used: For The Year Ended December 31, 2023 Stock price $1.09 - $3.40 Conversion price $1.46 - $1.48 Risk free rate 3.76% - 4.58% Equity volatility 47.5% - 70% Expected dividend yield —% Credit spread 14.9% - 20.1% Additionally, on December 12, 2023, the Company consummated an underwritten public offering of $175.0 million aggregate principal amount of the Company’s 8.25% Green Convertible Senior Notes due 2026 (the “8.25% Convertible Notes”). The 8.25% Convertible Notes were issued pursuant to, and are governed by, an indenture, dated as of December 12, 2023, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by a first supplemental indenture, dated as of December 12, 2023, between the Company and the Trustee. The conversion features embedded in the 8.25% Convertible Notes met the criteria to be separated from the host contract and recognized separately at fair value. The derivative is measured both initially and in subsequent periods at fair value, with changes in fair value recognized in other income (expense), net on the consolidated statements of operations. As of the issuance of the 8.25% Convertible Notes, the Company recognized $47.3 million for the embedded conversion features as a derivative liability within accrued expenses and other current liabilities on the consolidated balance sheets. The change in fair value of the derivative liability was as follows: Derivative liability Estimated fair value as of December 31, 2022 $ — Recognition of derivative liability 47,250 Change in estimated fair value 10,458 Settlement of derivative liability for conversions (48,837) Estimated fair value as of December 31, 2023 $ 8,871 The fair value of the conversion features was estimated by applying a with-and without approach. The following reflects the ranges of inputs and assumptions used: For the year ended December 31, 2023 Stock price $0.72 - $0.91 Conversion price $0.90 Risk free rate 3.97% - 4.42% Credit spread 14.20% - 15.10% Liability Classified Awards During the second and third quarters of 2023, the Company reclassified certain share-based payment awards from equity to liabilities that would require cash settlement upon distribution or exercise. The fair value of these awards was determined based on the closing price of the Company's stock or a Black-Scholes model as of the measurement date and as of the end of each reporting period. Changes in the fair value of the liabilities were recognized as compensation cost over the requisite service period. As of August 3, 2023, the share-based payment awards classified as liabilities no longer required cash settlement upon distribution or exercise. The Company reclassified the share-based payment awards into additional paid in capital on the Company's consolidated balance sheets at their fair value. Changes in the fair value of liability classified awards during the year ended December 31, 2023 , were as follows: Liability classified awards Liability classified awards as of December 31, 2022 $ — Reclassification of share-based payment awards to liability 10,401 Change in fair value 10,591 Reclassification of share-based payment awards to equity (20,992) Liability classified awards as of December 31, 2023 $ — (k) Inventory Inventory cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. Inventories are stated at the lower of cost or net realizable value. Inventories are written down for any excess or obsolescence and when net realizable value, which is based upon estimated selling prices, is in excess of carrying value plus costs to complete. Once inventory is written-down, a new, lower cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration of or increase in that newly established cost basis. (l) Investments Variable Interest Entities The Company may enter into investments in entities that are considered variable interest entities ("VIE") under ASC 810, Consolidations . A VIE is an entity that has either insufficient equity to permit the entity to finance its activities without additional subordinated financial support or equity investors who lack the characteristics of a controlling financial interest. If the Company is a primary beneficiary of a VIE, it is required to consolidate the entity. To determine if the Company is the primary beneficiary of a VIE, the Company evaluates whether it has both the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the Company. If the Company is not the primary beneficiary and an ownership interest is held in the entity, the interest is accounted for under the equity method of accounting. The Company continuously assesses whether it is the primary beneficiary of a VIE as changes to existing relationships or future transactions may result in changing conclusions. Equity Method Investments in which the Company can exercise significant influence, but do not control, are accounted for using the equity method and are presented on the consolidated balance sheets. The Company’s share of the net earnings or losses of the investee is presented within the consolidated statements of operations. The Company evaluates its equity method investments whenever events or changes in circumstance indicate that the carrying amounts of such investments may be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period. Distributions received from equity method investees are presented in the consolidated statements of cash flows based on the cumulative earnings approach, whereby distributions received from equity method investments are classified as cash flows from operations to the extent of equity earnings and then as cash flows from investing activities thereafter. Refer to Note 7, Investments in Affiliates , for further discussion. (m) Property, Plant and Equipment Property, plant and equipment is stated at cost less accumulated depreciation. Repair and maintenance costs are expensed as incurred. Depreciation is generally computed on a straight-line basis over estimated useful life of the respective assets, except for tooling which is depreciated using the consumption method over the estimated productive life of the asset. The useful lives of the Company's assets are as follows: Computers 3 years Software 3 to 5 years Demo trucks 2 years Vehicles 5 years Machinery and equipment 3 to 20 years Furniture and fixtures 7 years Leasehold improvements Shorter of useful life or lease term Tooling Based off estimated production quantity Buildings 20 to 40 years Deposits on equipment are reclassified from long-term deposits to property, plant and equipment upon receipt or transfer of title of the related equipment. (n) Leases The Company determines if an arrangement is or contains a lease at inception. This determination depends on whether the arrangement conveys the right to control the use of an explicitly or implicitly identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed if the Company obtains the right to direct the use of and obtains substantially all of the economic benefits from using the underlying asset. The Company classifies leases with contractual terms greater than 12 months as either operating or finance. Leases with terms of 12 months or less are not recognized as right-of-use assets or lease liabilities on the consolidated balance sheets pursuant to the short-term lease exclusion. Lease liabilities are recognized based on the present value of lease payments, reduced by lease incentives, at the lease commencement date. The Company uses an incremental borrowing rate to determine the present value of lease payments when the rate implicit in the lease is not readily determinable. The Company's incremental borrowing rate is the rate of interest that it would have to pay to borrow an amount equal to the lease payments, on a collateralized basis and in a similar economic environment over a similar term. Lease assets are recognized based on the related lease liabilities, plus any prepaid lease payments and initial direct costs from executing the leasing arrangement. The lease term includes the base, non-cancelable lease term, and any options to extend or terminate the lease when it is reasonably certain, at commencement, that the Company will exercise such options. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful life of the assets or the lease term. The interest component of a finance lease is included in interest expense, net on the consolidated statements of operations and recognized using the effective interest method over the lease term. Operating lease assets are amortized on a straight-line basis over the term of the lease. Leases with terms of 12 months or less at commencement are expensed over the lease term. The Company has also elected not to separate lease and non-lease components within a leasing arrangement related to the Company's existing classes of assets. Non-lease components primarily include payments for maintenance and utilities. Variable payments related to a lease are expensed as incurred. These costs often relate to payments for real estate taxes, insurance, common area maintenance, and other operating costs in addition to base rent. (o) Goodwill The Company records goodwill when consideration paid in a purchase acquisition exceeds the fair value of the net tangible assets and the identified intangible assets acquired. Goodwill is not amortized, but rather is tested for impairment annually or more frequently if facts and circumstances warrant a review. The Company has determined that there is a single reporting unit for the purpose of the goodwill impairment test, which is performed annually. For purposes of assessing the impairment of goodwill, the Company performs a qualitative analysis on December 31 of each year to determine if events or changes in circumstances indicate the fair value of the reporting unit is less than its carrying value. Factors considered which could trigger a further impairment review include, but are not limited to, significant under-performance relative to historical or projected future operating results, significant changes in the manner of use of the acquired assets, the Company's overall business strategy, and significant industry or macroeconomic trends. If the qualitative analysis indicates that the carrying value of the asset may not be recoverable based on the existence of one or more of the above indicators, recoverability is determined by comparing the carrying amount of the asset to net future undiscounted cash flows that the asset is expected to generate. An impairment charge would then be recognized equal to the amount by which the carrying amount exceeds the fair-market value of the asset. There was no impairment of goodwill for the years ended December 31, 2023, 2022 and 2021. (p) Intangible Assets with Indefinite Useful Lives The Company is required to test its intangible assets with indefinite lives for impairment annually using the guidance for indefinite-lived intangible assets. The Company's evaluation consists of first assessing qualitative factors to determine if impairment of the asset is more likely than not. If it is more likely than not that the asset is impaired, the Company determines the fair value of the asset and records an impairment charge if the carrying amount exceeds the fair value. There were no impairments of indefinite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021. See Note 6, Intangible Assets, Net , for further discussion. For intangible assets acquired in a non-monetary exchange, the estimated fair value of the shares transferred are used to establish their recorded values. (q) Long-Lived Assets and Finite Lived Intangibles The Company has finite lived intangible assets related to licenses. The Company reviews its long-lived assets and finite lived intangibles for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The events and circumstances the Company monitors and considers include significant decreases in the market price of similar assets, significant adverse changes to the extent and manner in which the asset is used, an adverse change in legal factors or business climate, an accumulation of costs that exceed the estimated cost to acquire or develop a similar asset, and continuing losses that exceed forecasted costs. The Company assesses the recoverability of these assets by comparing the carrying amount of such assets or asset group to the future undiscounted cash flow it expects the assets or asset group to generate. The Company recognizes an impairment loss if the sum of the expected long-term undiscounted cash flows that the long-lived asset is expected to generate is less than the carrying amount of the long-lived asset being evaluated. An impairment charge would then be recognized equal to the amount by which the carrying amount exceeds the fair value of the asset. There were no impairments of long-lived assets for the years ended December 31, 2023, 2022, and 2021. See Note 4, Balance Sheet Components , and Note 6, Intangible Assets, Net , for further discussion. (r) Income Taxes The Company accounts for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. A valuation allowance is recognized when it is more likely than not that some portion or all of a deferred tax asset will not be realized. Due to the Company's lack of earnings history, the net deferred tax assets have been fully offset by a valuation allowance as of December 31, 2023 and 2022. Uncertain tax positions taken or expected to be taken in a tax return are accounted for using the more likely than not threshold for financial statement recognition and measurement. (s) Stock-based Compensation The Company recognizes the cost of stock-based awards granted to employees and directors based on the estimated grant-date fair value of the awards. Cost is recognized on a straight-line basis over the service period, which is generally the vesting period of the award. The Company reverses previously recognized costs for unvested awards in the period forfeitures occur. The fair value of restricted stock unit ("RSU") awards is determined using the closing price of the Company's common stock on the grant date. The fair value of market based RSU awards ("Market Based RSUs") is 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. During the fourth quarter of 2022, the Company issued replacement awards in connection with the Romeo Acquisition in exchange for awards held by employees of Romeo who became employees of the Company. The portion of the acquiree

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Romeo Acquisition On October 14, 2022, the Company completed the Romeo Acquisition. Under the terms of the acquisition, the Company acquired each of the issued and outstanding shares of common stock, par value $0.0001 per share, of Romeo (“Romeo Common Stock”) in exchange for 0.1186 of a share (the "Romeo Exchange Ratio") of the Company's common stock, rounded down to the nearest whole number of shares. Total consideration for the acquisition of Romeo is summarized as follows: Purchase consideration Fair value of Nikola common stock issued to Romeo stockholders (1) $ 67,535 Settlement of pre-existing relationships in the form of loan forgiveness (2) 27,923 Settlement of pre-existing relationships in the form of accounts payable (18,216) Fair value of outstanding stock compensation awards attributable to pre-acquisition services (3) 1,345 Total purchase consideration $ 78,587 (1) Represents the acquisition date fair value of 22.1 million shares of Nikola common stock issued to Romeo stockholders, based on the Romeo Exchange Ratio for each outstanding share of Romeo Common Stock, at the October 14, 2022 closing price of $3.06 per share. (2) The Company entered into an Agreement and Plan of Merger and Reorganization dated July 30, 2022 (the "Merger Agreement") with Romeo. Concurrently wi th the execution of the Merger Agreement, Romeo entered into a loan agreement (the "Loan Agreement") with the Company as the lender. The Loan Agreement provided for a facility in an aggregate principal amount of up to $30.0 million (subject to certain incremental increases of up to $20.0 million), which were available for drawing subject to certain terms and conditions set forth in the Loan Agreement. Interest was payable on borrowings under the facility at the secured overnight financing rate ("SOFR") plus 8.00%. Upon closing, the loan and related accrued interest were forgiven and considered part of the purchase price. As of acquisition close, Romeo had drawn $12.5 million on the loan and accrued $0.1 million in interest. Additionally, as part of the Loan Agreement entered into with Romeo, the Company agreed to a short-term battery price increase. Through the acquisition close, the Company recorded $15.3 million in prepaid expenses and other current assets on the consolidated balance sheets related to the incremental pack price increase, which was considered part of the purchase consideration upon close. (3) Represents the portion of the fair value of the replacement awards related to services provided prior to the acquisition. The remaining portion of the fair value is associated with future service and will be recognized as expense over the future service period. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”). The purchase price was allocated to the assets acquired and liabilities assumed based on the estimated fair values at the date of acquisition. The acquisition resulted in goodwill due to the purchase consideration exceeding the estimated fair value of the identifiable net assets acquired by $1.5 million. During the second quarter of 2023, the Company transferred ownership of all of Romeo’s right, title and interest in and to all of its tangible and intangible assets to an Assignee, who is designated Assignee to act as the assignee for the benefit of creditors of Romeo. For the years ended December 31, 2023 and 2022, the operations of Romeo are reported as discontinued operations on the Company's consolidated statements of operation. Refer to Note 11. Deconsolidation of Subsidiary , for additional information.

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BALANCE SHEET COMPONENTS	BALANCE SHEET COMPONENTS Inventory Inventory consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Raw materials $ 32,889 $ 52,442 Work-in-process 15,486 9,646 Finished goods 8,206 47,677 Service parts 6,007 2,105 Total inventory $ 62,588 $ 111,870 During the year ended December 31, 2023, the Company reclassified all BEV truck finished goods inventory to work in process to be retrofit with alternative battery packs related to the Company's voluntary recall. Additionally, during the year ended December 31, 2023, the Company wrote down BEV inventory related to the battery packs, cells and other BEV components for $45.7 million which were deemed excess or obsolete due to the voluntary recall. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Prepaid expenses $ 6,152 $ 5,333 Non-trade receivables 5,570 6,064 Inventory deposits 4,843 415 Holdback receivable 3,655 — Prepaid insurance premiums 2,148 3,611 Deposits 1,643 3,917 Prepaid software 1,421 1,015 Deferred implementation costs 479 2,101 Headquarters sale agreement receivable — 5,487 Total prepaid expenses and other current assets $ 25,911 $ 27,943 Deferred implementation costs Deferred implementation costs are amortized on a straight-line basis over the estimated useful life of the related software. During the second quarter of 2022, the Company re-assessed the estimated useful life of its existing enterprise resource planning system as a result of a new system implementation, resulting in a shorter useful life and prospective change in amortization. The Company recorded $0.5 million and $2.8 million of amortization expense on the consolidated statements of operations for the years ended December 31, 2023 and 2022, respectively, related to deferred implementation costs. Amortization expense during the year ended December 31, 2021 was immaterial. Non-trade receivables For the years ended December 31, 2023, 2022 and 2021, the Company recognized government grant income totaling $2.7 million, $1.2 million and $2.4 million, respectively, in connection with the Arizona Qualified Facility Tax Credit (“QFTC”). As GAAP does not contain authoritative accounting standards on this topic, the Company accounted for the QFTC by analogy to International Accounting Standards 20 (“IAS 20”), Accounting for Government Grants and Disclosure of Government Assistance. Under IAS 20, the grant is recognized on a systematic basis over the periods in which the qualifying expenses are incurred when it is determined that receipt of the grant is no longer contingent. As of December 31, 2023 and 2022, the Company recognized $2.0 million and $1.2 million in prepaid expenses and other current assets Property, Plant and Equipment, Net Property, plant and equipment, net consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Buildings $ 239,918 $ 127,797 Construction-in-progress 135,994 209,187 Equipment 67,657 35,257 Tooling 39,389 17,693 Finance lease assets 37,504 2,193 Software 8,649 8,568 Land 7,957 24,762 Other 4,926 3,501 Leasehold improvements 3,100 2,953 Furniture and fixtures 1,483 1,492 Demo vehicles 788 15,215 Property, plant and equipment, gross 547,365 448,618 Less: accumulated depreciation and amortization (43,949) (30,833) Total property, plant and equipment, net $ 503,416 $ 417,785 Construction-in-progress on the Company's consolidated balance sheets as of December 31, 2023 relates primarily to the development of hydrogen infrastructure. Depreciation expense for the years ended December 31, 2023, 2022 and 2021 was $28.9 million, $14.4 million and $8.2 million, respectively. During the year ended December 31, 2023 , the Company reassessed the useful lives of its BEV demo vehicles due to the recall in the current year, and subsequently retired all demo vehicles. In July 2023, the Company executed a membership interest and asset purchase agreement (the "FFI Purchase Agreement") with FFI. Pursuant to the terms of the FFI Purchase Agreement, FFI Phoenix Hub Holdings, LLC, acquired 100% of the inte rests in Phoenix Hydrogen Hub, LLC, the Company's wholly owned subsidiary holding the assets related to the Phoenix hydrogen hub project, including land and construction-in-progress. The Company received net proceeds of $20.7 million during the third quarter of 2023 pursuant to the terms of the FFI Purchase Agreement. The Company's proceeds are net of a $3.7 million holdb ack, which the Company recorded in prepaid expenses and other current assets, on the consolidated balance sheets. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Settlement liabilities $ 91,330 $ 90,000 Warranty liability, current 65,703 1,484 Accrued purchase of intangible asset 13,796 32,126 Derivative liability 8,871 — Inventory received not yet invoiced 8,642 18,167 Other accrued expenses 5,137 2,152 Accrued outsourced engineering services 4,207 8,056 Accrued payroll and payroll related expenses 3,254 8,298 Accrued purchases of property, plant and equipment 2,458 3,587 Operating lease liabilities, current 1,867 1,979 Accrued legal expenses 1,708 2,041 Accrued Equity Distribution Agreement Fees 49 1,681 Supply agreement revision commitment — 10,000 Total accrued expenses and other current liabilities $ 207,022 $ 179,571 Settlement liabilities on the Company's consolidated balance sheets as of December 31, 2023 include $84.0 million related to the SEC settlement and $1.8 million in expected settlements related to the Lion Electric matter, each discussed further under Legal Proceedings in Note 14, Commitments and Contingencies. Settlement liabilities also include $3.0 million related to a dispute over consulting services, $2.0 million related to insurance claims expected to be paid following thermal events and $0.6 million related to a fastener settlement.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	LEASES As of December 31, 2023 the Company leased land in Colton, California related to the development of hydrogen infrastructure, buildings for warehousing and office space in Arizona and in California, mobile fueling and hydrogen infrastructure assets, and equipment under noncancellable operating and finance leases expiring at various dates t hr ough March 2033. Certain of the Company's leases as of December 31, 2023, contain purchase options and options to renew that the Company has deemed reasonably certain to exercise. Th e Company's lease agreements do not contain material residual value guarantees or material restrictive covenants. The following table summarizes the effects of finance and operating lease costs in the Company's consolidated statements of operations: Consolidated Statements of Operations Caption Year Ended December 31, 2023 2022 2021 Operating lease cost: Lease cost Selling, general and administrative $ 2,622 $ 1,182 $ 130 Variable lease cost (1) Selling, general and administrative 219 212 26 Total operating lease cost 2,841 1,394 156 Short-term lease cost Research and development, Selling, general and administrative and Cost of revenues 3,617 1,744 1,155 Finance lease cost: Amortization of right of use assets Research and development, Selling, general and administrative and Cost of revenues 979 342 2,758 Interest on lease liabilities Interest expense, net 753 44 789 Variable lease cost (1) Selling, general and administrative and Cost of revenues 44 55 738 Total finance lease cost 1,776 441 4,285 Total lease cost $ 8,234 $ 3,579 $ 5,596 (1) Variable lease costs were not included in the measurement of the operating and finance lease liabilities and primarily include property taxes, property insurance and common area maintenance expenses. Supplemental balance sheet information related to leases is as follows: Classification As of December 31, 2023 2022 Assets Finance lease assets, net Property, plant and equipment, net $ 36,106 $ 1,774 Operating lease assets Other assets 6,358 7,936 Total lease assets $ 42,464 $ 9,710 Liabilities Current: Finance lease liabilities Debt and finance lease liabilities, current $ 6,312 $ 367 Operating lease liabilities Accrued expenses and other current liabilities 1,867 1,979 Non-current: Finance lease liabilities Long-term debt and finance lease liabilities, net of current portion 26,395 818 Operating lease liabilities Operating lease liabilities 4,765 6,091 Total lease liabilities $ 39,339 $ 9,255 As of December 31, 2023 2022 Weighted average remaining lease term (years) Finance leases 3.97 4.23 Operating leases 5.66 5.98 Weighted average discount rate Finance leases 9.58 % 4.94 % Operating leases 6.29 % 5.92 % Supplemental cash flow information related to leases is as follows: As of December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow for finance leases $ 753 $ 44 Operating cash flow for operating leases 2,502 1,102 Leased assets obtained in exchange for lease liabilities Finance leases $ 32,820 $ 1,547 Operating leases 706 6,176 Maturities of the Company's lease liabilities are as follows: Years Ended December 31, Finance leases Operating leases Total 2024 $ 9,182 $ 2,186 $ 11,368 2025 7,927 1,364 9,291 2026 15,370 1,287 16,657 2027 4,514 520 5,034 2028 3,051 466 3,517 Thereafter 149 2,197 2,346 Total lease payments $ 40,193 $ 8,020 $ 48,213 Less: imputed interest 7,486 1,388 8,874 Total lease liabilities $ 32,707 $ 6,632 $ 39,339 Less: current portion 6,312 1,867 8,179 Long-term lease liabilities $ 26,395 $ 4,765 $ 31,160
LEASES	LEASES As of December 31, 2023 the Company leased land in Colton, California related to the development of hydrogen infrastructure, buildings for warehousing and office space in Arizona and in California, mobile fueling and hydrogen infrastructure assets, and equipment under noncancellable operating and finance leases expiring at various dates t hr ough March 2033. Certain of the Company's leases as of December 31, 2023, contain purchase options and options to renew that the Company has deemed reasonably certain to exercise. Th e Company's lease agreements do not contain material residual value guarantees or material restrictive covenants. The following table summarizes the effects of finance and operating lease costs in the Company's consolidated statements of operations: Consolidated Statements of Operations Caption Year Ended December 31, 2023 2022 2021 Operating lease cost: Lease cost Selling, general and administrative $ 2,622 $ 1,182 $ 130 Variable lease cost (1) Selling, general and administrative 219 212 26 Total operating lease cost 2,841 1,394 156 Short-term lease cost Research and development, Selling, general and administrative and Cost of revenues 3,617 1,744 1,155 Finance lease cost: Amortization of right of use assets Research and development, Selling, general and administrative and Cost of revenues 979 342 2,758 Interest on lease liabilities Interest expense, net 753 44 789 Variable lease cost (1) Selling, general and administrative and Cost of revenues 44 55 738 Total finance lease cost 1,776 441 4,285 Total lease cost $ 8,234 $ 3,579 $ 5,596 (1) Variable lease costs were not included in the measurement of the operating and finance lease liabilities and primarily include property taxes, property insurance and common area maintenance expenses. Supplemental balance sheet information related to leases is as follows: Classification As of December 31, 2023 2022 Assets Finance lease assets, net Property, plant and equipment, net $ 36,106 $ 1,774 Operating lease assets Other assets 6,358 7,936 Total lease assets $ 42,464 $ 9,710 Liabilities Current: Finance lease liabilities Debt and finance lease liabilities, current $ 6,312 $ 367 Operating lease liabilities Accrued expenses and other current liabilities 1,867 1,979 Non-current: Finance lease liabilities Long-term debt and finance lease liabilities, net of current portion 26,395 818 Operating lease liabilities Operating lease liabilities 4,765 6,091 Total lease liabilities $ 39,339 $ 9,255 As of December 31, 2023 2022 Weighted average remaining lease term (years) Finance leases 3.97 4.23 Operating leases 5.66 5.98 Weighted average discount rate Finance leases 9.58 % 4.94 % Operating leases 6.29 % 5.92 % Supplemental cash flow information related to leases is as follows: As of December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow for finance leases $ 753 $ 44 Operating cash flow for operating leases 2,502 1,102 Leased assets obtained in exchange for lease liabilities Finance leases $ 32,820 $ 1,547 Operating leases 706 6,176 Maturities of the Company's lease liabilities are as follows: Years Ended December 31, Finance leases Operating leases Total 2024 $ 9,182 $ 2,186 $ 11,368 2025 7,927 1,364 9,291 2026 15,370 1,287 16,657 2027 4,514 520 5,034 2028 3,051 466 3,517 Thereafter 149 2,197 2,346 Total lease payments $ 40,193 $ 8,020 $ 48,213 Less: imputed interest 7,486 1,388 8,874 Total lease liabilities $ 32,707 $ 6,632 $ 39,339 Less: current portion 6,312 1,867 8,179 Long-term lease liabilities $ 26,395 $ 4,765 $ 31,160

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023 Gross Carrying Accumulated Net Carrying Licenses: S-WAY Product and Platform license $ 50,000 $ 12,500 $ 37,500 FCPM license 47,181 — 47,181 Other intangibles 1,650 471 1,179 Total intangible assets $ 98,831 $ 12,971 $ 85,860 As of December 31, 2022 Gross Carrying Accumulated Net Carrying Licenses: S-WAY Product and Platform license $ 50,000 $ 5,357 $ 44,643 FCPM license 47,181 — 47,181 Other intangibles 800 151 649 Total intangible assets $ 97,981 $ 5,508 $ 92,473 Amortization expense for the years ended December 31, 2023 and 2022 was $7.4 million and $5.5 million, respectively. Amortization expense for the year ended 2021 was immaterial. In 2019, the Company was granted a non-exclusive and non-transferable license to intellectual property used in the Iveco S-WAY Platform and Product, which is the cab over engine truck manufactured by Iveco S.p.A ("Iveco"). The material rights under the license agreement include the non-exclusive use of the S-WAY key technology to manufacture, distribute and service BEV and FCEV trucks and related components in the United States, and the ability to grant the use of the key technology to the Company's North American sub-suppliers. The license was placed in service in the second quarter of 2022 commensurate with the start of production of the BEV. The license will be amortized over a 7-year useful life, as it reflects the period over which the sales of BEV and FCEV trucks utilizing Iveco S-WAY platform are expected to contribute to the Company's cash flows . The Company recorded $7.1 million and $5.4 million of amortization expense to cost of revenues on the consolidated statements of operations for the years ended December 31, 2023 and 2022, respectively, related to the S-WAY license. In 2021, the Company was granted a non-exclusive and non-transferable license to intellectual property that will be used to adapt, further develop and assemble FCPMs for use in the production of the Company's FCEV. The license was accounted for as an asset acquisition and the accumulated cost of the license was determined to be €40.0 million or $47.2 million. As of December 31, 2023, the Company accrued €12.5 million or $13.8 million in accrued expenses and other current liabilities and €5.0 million or $5.5 million in other long-term liabilities on the consolidated balance sheets related to the payments for the license. As of December 31, 2022, the Company accrued €30.0 million or $32.1 million in accrued expenses and other current liabilities on the consolidated balance sheets. The payment schedule for the license was amended in 2023, pursuant to which payments will be made in two remaining installments in 2024 and 2025. The Company will amortize the license beginning at the start of in-house FCPM production, and the expected useful life is 7 years. As of December 31, 2023, the Company has not started amortizing the license. Estimated amortization expense for all intangible assets subject to amortization in future years is expected to be: Years Ended December 31, Amortization 2024 $ 12,455 2025 14,140 2026 13,990 2027 13,940 2028 13,940 Thereafter 17,395 Total $ 85,860

INVESTMENTS IN AFFILIATES

INVESTMENTS IN AFFILIATES	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN AFFILIATES	INVESTMENTS IN AFFILIATES Investments in unconsolidated affiliates accounted for under the equity method consisted of the following: As of December 31, Ownership as of December 31, 2023 2023 2022 Nikola Iveco Europe GmbH — % $ — $ 4,142 Wabash Valley Resources LLC 20 % 57,062 57,674 Nikola - TA HRS 1, LLC — % — 1,000 $ 57,062 $ 62,816 Equity in net loss of affiliates on the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021 were as follows: Years Ended December 31, 2023 2022 2021 Equity in net loss of affiliates: Nikola Iveco Europe GmbH $ (15,556) $ (20,394) $ (3,900) Wabash Valley Resources LLC (862) (271) 320 Total equity in net loss of affiliates $ (16,418) $ (20,665) $ (3,580) Nikola Iveco Europe GmbH In April 2020, the Company and Iveco became parties to a series of agreements which established a joint venture in Europe, Nikola Iveco Europe GmbH. The operations of the joint venture were located in Ulm, Germany, and consisted of manufacturing the FCEV and BEV Class 8 trucks for the European market. The agreements provided 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 were entitled to appoint an equal number of members to the shareholders' committee of the joint venture. Pursuant to the terms of the agreements and amended contribution agreement, the Company and Iveco each contributed cash and intellectual property licenses to their respective technology. Nikola Iveco Europe GmbH was considered a VIE due to insufficient equity to finance its activities without additional subordinated financial support. The Company was not considered the primary beneficiary as it did not have the power to direct the activities that most significantly impacted the economic performance based on the terms of the agreements. Accordingly, the VIE was accounted for under the equity method. During the year ended December 31, 2022 the Company made total contributions to Nikola Iveco Europe GmbH of €20.0 million (approximately $21.8 million). During the years ended December 31, 2023 and 2021 no contributions were made to Nikola Iveco Europe GmbH. On June 29, 2023 (the "Divestiture Closing"), the Company and Iveco executed the European Joint Venture Transaction Agreement (the "Transaction Agreement") whereby the Company sold its 50% equity interest in Nikola Iveco Europe GmbH to Iveco for $35.0 million. In conjunction with the Transaction Agreement, the Company issued an intellectual property license agreement (the “License Agreement”), which grants Iveco and Nikola Iveco Europe GmbH a non-exclusive, perpetual, irrevocable, fully sublicensable, transferable, and fully assignable license ("Licensed Software") to software and controls technology related to the BEV and FCEV. According to the terms of the Transaction Agreement, the Company was eligible to receive 20.6 million shares of its own common stock from Iveco, contingent on successful due diligence ("Software Due Diligence") performed by Iveco and its consultants on the Licensed Software delivered to Iveco on the Divestiture Closing pursuant to the License Agreement. The Software Due Diligence was evaluated based on mutually agreed criteria between Iveco and the Company. On the Divestiture Closing, the Company recognized a gain equal to the difference between the consideration received and its basis in the Nikola Iveco Europe GmbH investment, consisting of a liability balance of $11.4 million for investment in affiliates, and cumulative currency translation losses of $1.5 million. The delivery of the Licensed Software on the Divestiture Closing was determined to represent a right to use the Licensed Software and the performance obligation was satisfied upon the delivery of the Licensed Software on Divestiture Closing. The Company recognized gains related to the derecognition of its basis in Nikola Iveco Europe GmbH and delivery of the Licensed Software in gain on divestiture of affiliate on the consolidated statements of operations. During the year ended December 31, 2023, the Company recognized a gain of $70.8 million in gain on divestiture of affiliates consisting of the following: Year Ended December 31, 2023 Cash consideration received $ 35,000 Contingent stock consideration receivable 25,956 Derecognition of investment in affiliate 11,428 Derecognition of cumulative currency translation losses (1,535) Gain on divestiture of affiliate $ 70,849 Contingent stock consideration received The contingent stock consideration was accounted for as variable consideration and included in total consideration as of Divestiture Closing, as it was not probable that a significant reversal of such consideration would occur upon resolution of the contingency. On August 3, 2023, the Software Due Diligence was deemed successful, and Iveco transferred to the Company 20.6 million shares of Nikola common stock, which were immediately retired. The Company recognized the fair value of the common stock upon receipt in accumulated deficit on the consolidated balance sheets. The fair value of the contingent stock consideration was measured based on the closing price of the Company's common stock price, with changes in fair value recognized in other income (expense), net on the consolidated statements of operations. During the year ended December 31, 2023, the change in fair value of the contingent stock consideration was as follows: Stock consideration receivable Fair value at June 29, 2023 $ 25,956 Change in fair value 43,981 Receipt of shares for stock consideration (69,937) Fair value at December 31, 2023 $ — Wabash Valley Resources LLC On June 22, 2021, the Company entered into a MIPA with WVR and the Sellers, pursuant to which, the Company purchased a 20% equity interest in WVR in exchange for $25.0 million in cash and 1,682,367 shares of the Company's common stock. The common stock consideration was calculated based on the Company's 30-day average closing stock price, or $14.86 per share, and the Company issued 1,682,367 shares of its common stock. As of the WVR Closing Date, the fair value of the stock consideration and Put Right was $32.4 million, based upon the closing price of the Company's common stock as of the WVR Closing Date and fair value of the embedded Put Right. See Note 2, Summary of Significant Accounting Policies for additional details related to the Put Right. The Company's interest in WVR is accounted for under the equity method and is included in investment in affiliates on the Company's consolidated balance sheets. As of the WVR Closing Date, the fair value of the Company's investment in WVR was $57.4 million, which consists of the Company's cash, common stock consideration, and the Put Right. Subsequently, the Put Right was removed and replaced with the Price Differential. See Note 2, Summary of Significant Accounting Policies , for further details. Included in the initial carrying value was a basis difference of $55.5 million due to the difference between the cost of the investment and the Company's proportionate share of WVR's net assets. The basis difference is primarily comprised of property, plant, and equipment and intangible assets. As of December 31, 2023, the Company's maximum exposure to loss was $57.6 million, which represents the book value of the Company's equity interest and a loan to WVR for $0.5 million. Nikola - TA HRS 1, LLC In March 2022, the Company and Travel Centers of America, Inc. ("TA") entered into a series of agreements which established a joint venture, Nikola - TA HRS 1, LLC. The operations expected to be performed by the joint venture consist of the development, operation and maintenance of a hydrogen fueling station. The agreements provided for 50/50 ownership of the joint venture. Both parties were entitled to appoint an equal number of board members to the management committee of the joint venture. Pursuant to the terms of the agreements, the Company contributed $1.0 million to Nikola - TA HRS 1, LLC in 2022. Nikola - TA HRS 1, LLC was considered a VIE due to insufficient equity to finance its activities without additional subordinated financial support. The Company was not considered the primary beneficiary as it did not have the power to direct the activities that most significantly impact the economic performance based on the terms of the agreements. Accordingly, the VIE was accounted for under the equity method. The Company did not guarantee debt for, or have other financial support obligations to the entity and its maximum exposure to loss in connection with its continuing involvement with the entity was limited to the carrying value of the investment. On November 29, 2023, (the "Dissolution Closing"), the Company and TA executed the dissolution agreement of Nikola TA HRS 1, LLC (the "Dissolution Agreement") whereby the Company and TA mutually agreed to terminate efforts related to the joint development of the hydrogen fueling station, and accordingly, dissolve Nikola - TA, HRS 1, LLC. Upon the Dissolution Closing, the Company received a distribution equal to its basis in the investment, resulting in no gain or loss on the consolidated statements of operations.

DEBT AND FINANCE LEASE LIABILIT

DEBT AND FINANCE LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
DEBT AND FINANCE LEASE LIABILITIES	DEBT AND FINANCE LEASE LIABILITIES A summary of debt and finance lease liabilities as of December 31, 2023 and 2022 is as follows: As of December 31, 2023 2022 Current: Finance lease liabilities $ 6,312 $ 367 Insurance premium financing 1,852 1,999 Promissory notes 699 9,309 Financing obligations 87 — Senior Convertible Notes — 50,000 Debt and finance lease liabilities, current $ 8,950 $ 61,675 Non-current: Toggle Convertible Notes $ 124,061 $ 199,786 Financing obligations 101,470 50,359 Finance lease liabilities 26,395 818 8.25% Convertible Notes 15,047 — Promissory notes 2,306 39,165 Long-term debt and finance lease liabilities, net of current portion $ 269,279 $ 290,128 The fair values of the following debt obligations are estimated using level 2 fair value inputs, including stock price and risk-free rates. The following table presents the carrying value and estimated fair values: As of December 31, 2023 Carrying Value Fair Value June 2022 Toggle Convertible Notes $ 115,097 $ 100,516 8.25% Convertible Notes 15,047 25,579 June 2023 Toggle Convertible Notes 8,964 10,108 Promissory notes 3,005 2,955 Insurance premium financings 1,852 1,854 Term Note 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 was 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 amended the term note to extend its term for one year, to January 31, 2021. The term note accrued 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. During the first quarter of 2021, the Company repaid the $4.1 million term note. Toggle Convertible Notes In June 2022, the Company completed a private placement of $200.0 million aggregate principal amount of the Company's June 2022 Toggle Convertible Notes, which will mature on May 31, 2026 . The June 2022 Toggle Convertible Notes were issued pursuant to an indenture, dated as of June 1, 2022 (the "June 2022 Toggle Convertible Notes Indenture"). In April 2023, the Company completed an exchange of $100.0 million aggregate principal amount of the Company's June 2022 Toggle Convertible Notes for the issuance of $100.0 million aggregate principal amount of April 2023 Toggle Convertible Notes, which will mature on May 31, 2026. The April 2023 Toggle Convertible Notes were issued pursuant to the April 2023 Toggle Convertible Notes Indenture . In conjunction with the issuance of the April 2023 Toggle Convertible Notes, the Company executed the first supplemental indenture to the June 2022 Toggle Convertible Notes Indenture dated as of April 3, 2023 (the "First Supplemental Indenture to June 2022 Notes"), and the second supplemental indenture to the June 2022 Toggle Convertible Notes Indenture dated as of April 10, 2023 (the "Second Supplemental Indenture to June 2022 Notes"), which First Supplemental Indenture to June 2022 Notes, among other things, amended the conversion provisions of the June 2022 Toggle Convertible Notes Indenture. Additionally, in June 2023, the Company completed a private placement of $11.0 million aggregate principal amount of the Company's June 2023 Toggle Convertible Notes, which will mature on May 31, 2026. The June 2023 Toggle Convertible Notes were issued pursuant to the June 2023 Toggle Convertible Notes Indenture (together with the June 2022 Toggle Convertible Notes Indenture and the April 2023 Toggle Convertible Notes Indenture, the "Toggle Convertible Notes Indentures"). The June 2023 Toggle Convertible Notes were issued in consideration as a consent fee to the holders for execution of the third supplemental indenture to the June 2022 Toggle Convertible Notes Indenture dated as of June 23, 2023 (the "Third Supplemental Indenture to June 2022 Notes"), and the first supplemental indenture to the April 2023 Toggle Convertible Notes Indenture dated as of June 23, 2023 (the "First Supplemental Indenture to April 2023 Notes"), which, among other things, released Romeo as a guarantor of the June 2022 Toggle Convertible Notes and the April 2023 Toggle Convertible Notes, respectively. Below is a summary of certain terms of the Toggle Convertible Notes: Interest Payments The Company can elect to make any Cash Interest payment on the Toggle Convertible Notes, through the issuance of additional Toggle Convertible Notes in the form of PIK Interest, or any combination thereof. Interest on the Toggle Convertible Notes is payable semi-annually in arrears. The interest rates and payment dates for each of the Toggle Convertible Notes is summarized below: June 2022 Toggle Convertible Notes April 2023 Toggle Convertible Notes June 2023 Toggle Convertible Notes PIK interest rate (per annum) 11.00% 11.00% 8.00% Cash interest rate (per annum) 8.00% 8.00% 8.00% Semi-annual interest payable dates May 31 and November 30 of each year May 31 and November 30 of each year June 30 and December 31 of each year First interest payment date November 30, 2022 May 31, 2023 December 31, 2023 The April 2023 Toggle Convertible Note and June 2023 Toggle Convertible Note shall bear interest at the applicable Cash Interest rate or PIK Interest rate from November 30, 2022 and June 23, 2023, respectively. Conversions Based on the applicable conversion rate, the Toggle Convertible Notes plus any accrued and unpaid interest are convertible into cash, shares of the Company’s common stock or a combination thereof, at the Company’s election. However, conversions of the Toggle Convertible Notes were limited in certain instances until the earlier to occur of (x) an increase in the number of authorized shares in an amount sufficient to, among other things, allow for the issuance of common stock underlying such Toggle Convertible Notes and (y) October 11, 2023, and the Company shall elect to settle conversions of the Toggle Convertible Notes in cash until such increase in the number of authorized shares has occurred and in the case of conversions of the April 2023 Toggle Convertible Notes, the Company obtains the stockholder approval contemplated by Nasdaq Rule 5635. The Company amended its Second Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 800,000,000 to 1,600,000,000, following approval by the stockholders at the Company's annual meeting of stockholders on August 3, 2023. The initial conversion rates are 114.3602 and 686.8132 shares per $1,000 principal amount of the June 2022 Toggle Convertible Notes and April 2023 Toggle Convertible Notes, respectively, subject to customary anti-dilution adjustments in certain circumstances, which represent initial conversion prices of approximately $8.74 and $1.46 per share, respectively. With respect to the June 2023 Toggle Convertible Notes, the initial conversion rate shall be an amount equal to (a) 674.4258 divided by (b) a quotient, (i) the numerator of which is the sum of (x) the initial principal amount of the June 2023 Toggle Convertible Notes outstanding immediately prior to such conversion and (y) the aggregate amount capitalized related to PIK Interest issuances in respect of interest that came due on the June 2023 Toggle Convertible Notes and (ii) the denominator of which is the initial principal amount of the June 2023 Toggle Convertible Notes. The Toggle Convertible Notes Indentures provide that prior to February 28, 2026, the Toggle Convertible Notes will be convertible at the option of the holders only upon the occurrence of specified events and during certain periods, and will be convertible on or after February 28, 2026, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date of the Toggle Convertible Notes. Holders of the Toggle Convertible Notes will have the right to convert all or a portion of their Toggle Convertible Notes prior to the close of business on the business day immediately preceding February 28, 2026 only under the following circumstances: (i) during any fiscal quarter commencing after the fiscal quarter ending on September 30, 2022 for the June 2022 Toggle Convertible Notes, during any fiscal quarter commencing after the fiscal quarter ending on June 30, 2023 for the April 2023 Toggle Convertible Notes, during any fiscal quarter commencing after the fiscal quarter ending on September 30, 2023 for the June 2023 Toggle Convertible Notes (and only during such fiscal quarter), if the last reported sale price of the Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive tradin g days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the Toggle Convertible Notes on each applicable trading day; (ii) during the five business day period after any ten consecutive trading day period in which the trading price per $1,000 principal amount of the Toggle Convertible Notes for each trading day of that ten consecutive trading day period was less than 98% of the product of the last reported sale price of the Common Stock and the conversion rate of the Toggle Convertible Notes on each such trading day; (iii) if the Company calls such Toggle Convertible Notes for redemption, at any time prior to the close of business on the second business day immediately preceding the redemption date; or (iv) upon the occurrence of specified corporate events. Redemption Except with respect to the June 2023 Toggle Convertible Notes as described in the immediately succeeding paragraph, the Company may not redeem the Toggle Convertible Notes prior to June 1, 2025. The Company may redeem the Toggle Convertible Notes in whole or in part, at its option, on or after such date and prior to the 26th scheduled trading day immediately preceding the maturity date, for a cash purchase price equal to the aggregate principal amount of any Toggle Convertible Notes to be redeemed plus accrued and unpaid interest. The June 2023 Toggle Convertible Notes provide for an additional optional redemption period from the initial issuance of such Toggle Convertible Notes through the first interest payment date of December 31, 2023, in whole and not in part for a cash purchase price equal to the aggregate principal amount of the June 2023 Toggle Convertible Notes. In addition, following certain corporate events that occur prior to the maturity date or following issuance by the Company of a notice of redemption, in certain circumstances, the Company will increase the conversion rate for a holder who elects to convert its Toggle Convertible Notes (other than the June 2023 Toggle Convertible Notes) in connection with such a corporate event or who elects to convert any such Toggle Convertible Notes called for redemption during the related redemption period. Additionally, in the event of a fundamental change or a change in control transaction, holders of the Toggle Convertible Notes will have the right to require the Company to repurchase all or a portion of their Toggle Convertible Notes at a price equal to 100% of the capitalized principal amount of such Toggle Convertible Notes, in the case of a fundamental change, or 130% of the capitalized principal amount of such Toggle Convertible Notes, in the case of change in control transactions, in each case plus any accrued and unpaid interest to, but excluding, the repurchase date. The Toggle Convertible Notes Indentures include restrictive covenants that, subject to specified exceptions, limit the ability of the Company and its subsidiaries to incur secured debt in excess of $500.0 million , incur other subsidiary guarantees, and sell equity interests of any subsidiary that guarantees the Toggle Convertible Notes. In addition, the Toggle Convertible Notes Indentures include customary terms and covenants, including certain events of default after which the holders may accelerate the maturity of the Toggle Convertible Notes issued thereunder and cause them to become due and payable immediately upon such acceleration. In conjunction with the issuance of the June 2022 Toggle Convertible Notes, the Company executed the Put Premium which was determined to be an embedded derivative that met the criteria for bifurcation from the host. The total proceeds received were first allocated to the fair value of the bifurcated derivative asset, and the remaining proceeds allocated to the host resulting in an adjustment to the initial purchasers' debt discount. The net proceeds from the sale of the June 2022 Toggle Convertible Notes were $183.2 million , net of initial purchasers' discounts and debt issuance costs. Unamortized debt discount and issuance costs were reported as a direct deduction from the face amount of the June 2022 Toggle Convertible Notes. During the second quarter of 2023, the exchange of $100.0 million of June 2022 Toggle Convertible Notes for the issuance of $100.0 million of April 2023 Toggle Convertible Notes was determined to represent a substantial change in terms and extinguishment accounting was applied. The Company recognized a loss on debt extinguishment of $20.4 million for the year ended December 31, 2023 . As part of the assessment of the exchange, the Company bifurcated the conversion features on the April 2023 Toggle Convertible Notes and recognized a derivative liability of $21.2 million as of the exchange date, resulting in an adjustment to the debt discount. Additionally, during the second quarter of 2023, the execution of the Third Supplemental Indenture to June 2022 Notes and First Supplemental Indenture to April 2023 Notes were deemed modifications to the Toggle Convertible Notes outstanding under the June 2022 Toggle Convertible Notes Indenture and April 2023 Toggle Convertible Notes Indenture, respectively, as the amended terms did not substantially change the terms of the respective notes. The consideration paid to the holders in the form of the issuance of the June 2023 Toggle Convertible Notes was recognized as an issuance cost upon modification and is amortized as an adjustment of interest expense over the remaining terms of the June 2022 Toggle Convertible Notes and April 2023 Toggle Convertible Notes. On August 4, 2023, the holders of the April 2023 Toggle Convertible Notes exercised their conversion right for all the outstanding principal amount. The Company elected to settle the conversion with the issuance of 72,458,789 shares of common stock. The remaining unamortized discount was recognized in interest expense, net on the consolidated statements of operations due to the reclassification of the conversion feature to equity. The net carrying amounts of the debt component of the Toggle Convertible Notes as of December 31, 2023 were as follows: June 2022 Toggle Convertible Notes June 2023 Toggle Convertible Notes Principal amount $ 123,478 $ 11,460 Accrued PIK interest 1,170 — Unamortized discount (2,306) (2,496) Unamortized issuance costs (7,245) — Net carrying amount $ 115,097 $ 8,964 The net carrying amounts of the debt component of the Toggle Convertible Notes as of December 31, 2022 were as follows: June 2022 Toggle Convertible Notes Principal amount $ 210,939 Accrued PIK interest 1,998 Unamortized discount (6,443) Unamortized issuance costs (6,708) Net carrying amount $ 199,786 As of December 31, 2023 , the effe ctive interest rates on the June 2022 Toggle Convertible Notes and June 2023 Toggle Convertible Notes were 13.90% and 17.24%, respectively. A mortization of the debt discount and issuance costs is reported as a component of interest expense and is computed using the straight-line method over the term of the Toggle Convertible Notes, which approximates the effective interest method. The following table presents the Company's interest expense related to the June 2022 Toggle Convertible Notes: Years Ended December 31, 2023 2022 Contractual interest expense $ 15,744 $ 12,937 Amortization of debt discount and issuance costs 3,333 2,156 Total interest expense $ 19,077 $ 15,093 The following table presents the Company's interest expense related to the April 2023 Toggle Convertible Notes: Year Ended December 31, 2023 Contractual interest expense $ 3,562 Amortization of debt discount and issuance costs 42,242 Total interest expense $ 45,804 The following table presents the Company's interest expense related to the June 2023 Toggle Convertible Notes: Year Ended December 31, 2023 Contractual interest expense $ 460 Amortization of debt discount and issuance costs 454 Total interest expense $ 914 Senior Convertible Notes First Purchase Agreement Notes On December 30, 2022, the Company entered into a securities purchase agreement (the “First Purchase Agreement”) with the investors named therein for the sale of up to $125.0 million in initial principal amount of unsecured senior convertible notes (the “First Purchase Agreement Notes”), in a registered direct offering. The First Purchase Agreement Notes are convertible into shares of the Company’s common stock, subject to certain conditions and limitations. The Company consummated an initial closing for the sale of $50.0 million in aggregate principal amount of First Purchase Agreement Notes on December 30, 2022 (the "Series A Notes"). Subsequent to the initial closing, the Company entered into amended securities purchase agreements (the "Amended Purchase Agreements") pursuant to which the Company consummated additional closings on March 17, 2023 for the sale of $25.0 million in aggregate principal amount of First Purchase Agreement Notes (the "Series B-1 Notes"), on May 10, 2023 for the sale of $15.0 million in aggregate principal amount of First Purchase Agreement Notes (the "Series B-2 Notes"), and on May 25, 2023 for the sale of $12.1 million in aggregate principal amount of First Purchase Agreement Notes (the "Series B-3 Notes"). The purchase price for the First Purchase Agreement Notes is $1,000 per $1,000 principal amount. Each First Purchase Agreement Note accrued interest at a rate of 5% per annum, payable in arrears on the first calendar day of each calendar quarter, beginning April 1, 2023 for the Series A Notes, June 1, 2023 for the Series B-1 Notes and July 1, 2023 for the Series B-2 and Series B-3 Notes. Interest was payable in cash or shares of the Company's common stock or in a combination of cash and shares of common stock, at the Company’s option. Each First Purchase Agreement Note issued pursuant to the First Purchase Agreement and Amended Purchase Agreements will have a maturity date of one year from issuance, which may be extended at the option of the noteholders in certain instances. Upon any conversion, redemption or other repayment of a First Purchase Agreement Note, a “make-whole” amount equal to the amount of additional interest that would accrue under such First Purchase Agreement Note at the interest rate then in effect assuming that the outstanding principal of such First Purchase Agreement Notes remained outstanding through and including the maturity date of such First Purchase Agreement Note. At any time on or after January 9, 2023, all or any portion of the principal amount of each First Purchase Agreement Note, plus accrued and unpaid interest, any make-whole amount and any late charges thereon (the “Conversion Amount”), is convertible at any time, in whole or in part, at the noteholder’s option, into shares of the Company's common stock at a conversion price per share (the “Conversion Price”) equal to the lower of (i) the applicable “reference price”, subject to certain adjustments (the “Reference Price”), (ii) the greater of (x) the applicable “floor price” (the “Floor Price”) and (y) the volume weighted average price (“VWAP”) of the Common Stock as of the conversion date, and (iii) the greater of (x) the Floor Price, and as elected by the converting noteholder, (y) either (X) depending on the delivery time of the applicable conversion notice, (1) the VWAP as of the applicable conversion date or (2) the VWAP immediately prior to the applicable conversion date and (Y) 95% of the average VWAP for the three trading days commencing on, and including, the applicable conversion date, subject to adjustment in accordance with the terms of the Notes. The Reference Price and Floor Price applicable to each issuance of First Purchase Agreement Notes is summarized below: Reference Price Floor Price Series A Notes $ 5.975 $ 0.478 Series B-1 Notes $ 4.050 $ 0.478 Series B-2 Notes $ 2.140 $ 0.478 Series B-3 Notes $ 1.952 $ 0.478 At any time during an Event of Default Redemption Right Period (as defined below), a noteholder may alternatively elect to convert all or any portion of the First Purchase Agreement Notes at an alternate conversion rate (the “Alternate Conversion Rate”) equal to the quotient of (i) 115% of the Conversion Amount divided by (ii) the Conversion Price. Upon a change of control, a noteholder may, subject to certain exceptions, require the Company to redeem all, or any portion, of the First Purchase Agreement Notes in cash at a price equal to 115% of the greatest of: (i) the Conversion Amount, (ii) the product of (x) the Conversion Amount and (y) the quotient of (I) the greatest closing sale price of the common stock during the period beginning on the date immediately preceding the earlier to occur of (1) the consummation of a change of control and (2) the public announcement of such change of control, and ending on the date the noteholder notifies the Company of its exercise of its right to redeem pursuant to the change of control divided by (II) the Conversion Price, and (iii) the product of (x) the Conversion Amount and (y) the quotient of (I) the aggregate consideration per share of common stock to be paid to the holders of the Common Stock upon consummation of such change of control divided by (II) the Conversion Price. At any time an “Equity Conditions Failure” (as defined in the First Purchase Agreement Notes) exists at the time of consummation of certain “Subsequent Placements” (as defined in the First Purchase Agreement), the noteholders have the right, subject to certain exceptions, to require that the Company redeem all, or any portion, of the Conversion Amount of the Notes not in excess of the gross proceeds of such Subsequent Placement at a redemption price of 100% of the Conversion Amount to be redeemed. If the noteholder is participating in such Subsequent Placement, the noteholder may require the Company to apply all, or any part, of any amounts that would otherwise be payable to the noteholder in such redemption, on a dollar-for-dollar basis, against the purchase price of the securities to be purchased by the noteholder in such Subsequent Placement. A noteholder will not have the right to convert any portion of the First Purchase Agreement Notes, to the extent that, after giving effect to such conversion, the noteholder (together with certain of its affiliates and other related parties) would beneficially own in excess of 4.99% of the shares of common stock outstanding immediately after giving effect to such conversion (the “Maximum Percentage”). The noteholder may from time to time increase the Maximum Percentage to 9.99%, provided that any such increase will not be effective until the 61st day after delivery of a notice to the Company of such increase. The First Purchase Agreement Notes provide for certain Events of Default, including certain types of bankruptcy or insolvency events of default involving the Company after which the First Purchase Agreement Notes become automatically due and payable. At any time after the earlier of (x) a noteholder’s receipt of a required notice of an event of default, and (y) the noteholder becoming aware of an event of default, and ending on the twentieth trading day after the later of (I) the date such event of default is cured, and (II) the investor’s receipt of an event of default notice from the Company (such period, the “Event of Default Redemption Rights Period”), the noteholder may require the Company to redeem, subject to certain exceptions, all or any portion of its Notes at a price equal to 115% of the greater of (i) the Conversion Amount and (ii) the product of the Alternate Conversion Rate and the greatest closing sale price of the common stock on any trading day during the period commencing on the date immediately preceding such Event of Default and ending on the trading day immediately prior to the date the Company makes the entire redemption payment. The Company will be subject to certain customary affirmative and negative covenants regarding the rank of the First Purchase Agreement Notes, the incurrence of certain indebtedness, the repayment of certain indebtedness, transactions with affiliates, and restrictions on certain issuance of securities, among other customary matters. The following table summarizes conversions of the First Purchase Agreement notes during the year ended December 31, 2023: Series A Notes Series B-1 Notes Series B-2 Notes Series B-3 Notes Shares of common stock issued for conversions 21,785,618 21,127,720 21,758,268 22,639,159 Principal balance converted $ 50,000 $ 25,000 $ 15,000 $ 12,075 Make-whole interest converted $ 2,500 $ 1,250 $ 750 $ 604 Average conversion price $ 2.41 $ 1.24 $ 0.72 $ 0.56 The Company elected to account for the First Purchase Agreement Notes pursuant to the fair value option under ASC 825. ASC 825-10-15-4 provides for the “fair value option” (“FVO”) election, to the extent not otherwise prohibited by ASC 825-10-15-5, to be afforded to financial instruments, wherein the financial instrument is initially measured at its issue-date estimated fair value and subsequently remeasured at estimated fair value on a recurring basis at each reporting period date. The Company believes that the fair value option better reflects the underlying economics of the First Purchase Agreement Notes. As of December 31, 2023 and 2022 , the Company recognized zero and $50.0 million, respectively, in debt and finance lease liabilities, current on the consolidated balance sheets for the fair value of First Purchase Agreement Notes outstanding. The First Purchase Agreement was terminated in the third quarter of 2023. Second Purchase Agreement Notes On August 21, 2023, the Company entered into a securities purchase agreement (the "Second Purchase Agreement" ) with the investors named therein for the sale of up to $325.0 million in initial principal amount of senior convertible notes (the “ Second Purchase Agreement Notes ”), in a registered direct offering. Pursuant to Nasdaq Rule 5635, the Company is limited to the issuance of an aggregate of 171,179,577 shares under the terms of the Second Purchase Agreement. The Second Purchase Agreement Notes (together with the First Purchase Agreement Notes, the "Senior Convertible Notes") are convertible into shares of the Company’s common stock, subject to certain conditions and limitations. The Company consummated an initi al closing for the sale of $125.0 million in aggregate principal amount of Second Purchase Agreement Notes on August 21, 2023 (the "Series A-1 Notes"). Subsequent to the initial closing, the Company entered into a supplemental indenture pursuant to which the Company consummated an additional closing on September 22, 2023 for the sale of $40.0 million in aggregate principal amount of Second Purchase Agreement Notes (the "Series A-2 Notes"). The purchase price for the Second Purchase Agreement Notes is $1,000 per $1,000 principal amount. Subject to certain conditions being met or waived, at the option of the Company, one or more additional closings for up to the remaining principal amount of Second Purchase Agreement Notes may occur. The aggregate principal amount of Second Purchase Agreement Notes that may be offered in the additional closings may not be more than $160.0 million and the Company’s option to sell additional Second Purchase Agreement Notes will be exercisable until the 18 month anniversary of the date of the Second Purchase Agreement. Each Second Purchase Agreement Note will accrue interest at a rate of 5% per annum, payable in arrears on the first calendar day of each calendar quarter, beginning January 1, 2024 for the Series A-1 Notes and for the Series A-2 Notes. Each Second Purchase Agreement Note issued pursuant to the Second Purchase Agreement will have a maturity date of one year from issuance, which may be extended at the option of the noteholders in certain instances. Upon any conversion, redemption or other repayment of a Second Purchase Agreement Note, a “make-whole” amount equal to the amount of additional interest that would accrue under such Second Purchase Agreement Note at the interest rate then in effect assuming that the outstanding principal of such Second Purchase Agreement Notes remained outstanding through and including the maturity date of such Second Purchase Agreement Note. At any time on or after August 21, 2023, the Conversion Amount is convertible at any time, at the Conversion Price. The Reference Price and Floor Price applicable to each issuance of Second Purchase Agreement Notes is summarized below: Reference Price Floor Price Series A-1 Notes $ 2.940 $ 0.380 Series A-2 Notes $ 2.940 $ 0.380 The following table summarizes conversions of the Second Purchase Agreement Notes during the year ended December 31, 2023: Series A-1 Notes Series A-2 Notes Shares of common stock issued for conversions 128,380,608 35,952,992 Principal balance converted $ 125,000 $ 40,000 Make-whole interest converted $ 6,250 $ 2,000 Average conversion price $ 1.02 $ 1.17 The Company elected to account for the Second Purchase Agreement Notes pursuant to the fair value option under ASC 825. As of December 31, 2023, there were no Second Purchase Agreement Notes outstanding. 8.25% Convertible Notes On December 12, 2023, the Company consummated the sale and issuance of $175.0 million aggregate principal amount of the 8.25% Green Convertible Senior Notes due 2026. The 8.25% Convertible Notes are senior, unsecured obligations of the Company. The 8.25% Convertible Notes accrue interest at a rate of 8.25% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2024. The 8.25% Convertible Notes will mature on December 15, 2026, unless earlier repurchased, redeemed or converted. At any time before the close of business on the second scheduled trading day immediately before the maturity date, noteholders may convert their 8.25% Convertible Notes at their option. The Company will settle conversions by delivering (i) shares of the Company’s common stock (together, if applicable, with cash in lieu of any fractional share), at the then-applicable conversion rate; and (ii) a cash amount representing the present value of remaining scheduled coupon payments on the converted notes discounted at United States treasuries plus 50 basis points (the “Coupon Make-Whole Premium”). The initial conversion rate is $1,111.11 shares of common stock per $1,000 principal amount of 8.25% Convertible Notes, which represents an initial conversion price of approximately $0.90 per share of common stock. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events. In addition, if certain corporate events that constitute a make-whole fundamental change occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time. The 8.25% Convertible Notes will be redeemable, in whole or in part (subject to certain limitations described below), at the Company’s option at any time, and from time to time, on or after December 15, 2025 and before the maturity date, but only if the last reported sale price per share of the Company’s common stock exceeds 175% of the conversion price on each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice. However, the Company may not redeem less than all of the outstanding 8.25% Convertible Notes unless at least $100.0 million aggregate principal amount of 8.25% Convertible Notes are outstanding and not called for redemption as of the time the Company sends the related redemption notice. The redemption

CAPITAL STRUCTURE

CAPITAL STRUCTURE	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
CAPITAL STRUCTURE	CAPITAL STRUCTURE Shares Authorized As of December 31, 2023, the Company had authorized a total of 1,750,000,000 shares for issuance consisting of 1,600,000,000 shares designated as common stock and 150,000,000 shares designated as preferred stock. Warrants As of December 31, 2023 and 2022, the Company had 841,183 and 1,137,850 private warrants outstanding, respectively. The Company assumed the private warrants previously issued by VectoIQ and Romeo through the Business Combination and Romeo Acquisition, respectively, and each private warrant entitles the registered holder to purchase one share of common stock at a price of $11.50 or $96.96 per share, respectively, subject to adjustment. The exercise price and number of common shares issuable upon exercise of the private warrants may be adjusted in certain circumstances including in the event of a stock dividend, recapitalization, reorganization, merger or consolidation. However, the private warrants will not be adjusted for the issuance of common stock at a price below their exercise price. For the years ended December 31, 2023, 2022 and 2021, the Company recorded a $0.4 million gain, $3.9 million gain and $3.1 million gain, respectively, for revaluation of warrant liability on the consolidated statement of operations. As of December 31, 2023 and 2022, the Company had $0.01 million and $0.4 million, respectively, for warrant liability related to the private warrants outstanding, which are included in other long-term liabilities on the consolidated balance sheets. Stock Purchase Agreements First Purchase Agreement with Tumim Stone Capital LLC On June 11, 2021, the Company entered into a common stock purchase agreement (the "First Tumim Purchase Agreement") and a registration rights agreement (the "Registration Rights Agreement") with Tumim Stone Capital LLC ("Tumim"), pursuant to which Tumim committed to purchase up to $300.0 million in shares of the Company's common stock, subject to certain limitations and conditions set forth in the First Tumim Purchase Agreement. The Company shall not issue or sell any shares of common stock under the First Tumim Purchase Agreement which, when aggregated with all other shares of common stock beneficially owned by Tumim, would result in beneficial ownership of more than 4.99% of the Company's outstanding shares of common stock. Under the terms of the First Tumim Purchase Agreement, the Company has the right, but not the obligation, to sell to Tumim, shares of common stock over the period commencing on the date of the First Tumim Purchase Agreement (the “Tumim Closing Date”) and ending on the first day of the month following the 36-month anniversary of the Tumim Closing Date. The purchase price will be calculated as 97% of the volume weighted average prices of the Company's common stock during normal trading hours for three consecutive trading days commencing on the purchase notice date. Concurrent with the signing of the First Tumim Purchase Agreement, the Company issued 155,703 shares of its common stock to Tumim as a commitment fee ("Commitment Shares"). The total fair value of the shares issued for the commitment fee of $2.6 million was recorded in selling, general, and administrative expense on the Company's consolidated statements of operations. During 2023, the Company sold 3,420,990 shares of common stock for proceeds of $8.4 million, and terminated the First Tumim Purchase Agreement during the first quarter of 2023. During 2022, the Company sold 17,248,244 shares of common stock under the First Tumim Purchase Agreement for proceeds of $123.7 million. During 2021, the Company sold 14,213,498 shares of common stock under the First Tumim Purchase Agreement for proceeds of $163.8 million. Second Purchase Agreement with Tumim On September 24, 2021, the Company entered into the "Second Tumim Purchase Agreement" and a registration rights agreement with Tumim, pursuant to which Tumim committed to purchase up to $300.0 million in shares of the Company's common stock, subject to certain limitations and conditions set forth in the Second Tumim Purchase Agreement. The Company will not issue or sell any shares of common stock under the Second Tumim Purchase Agreement which, when aggregated with all other shares of common stock beneficially owned by Tumim, would result in beneficial ownership of more than 4.99% of the Company's outstanding shares of common stock. Under the terms of the Second Tumim Purchase Agreement, the Company has the right, but not the obligation, to sell to Tumim, shares of common stock over the period commencing on the date of the Second Tumim Purchase Agreement (the “Second Tumim Closing Date”) and ending on the first day of the month following the 36-month anniversary of the Second Tumim Closing Date, provided that certain conditions have been met. These conditions include effectiveness of a registration statement covering the resale of shares of common stock that have been and may be issued under the Second Tumim Purchase Agreement and termination of the First Tumim Purchase Agreement. The registration statement covering the offer and sale of up to 29,042,827 shares of common stock, including the commitment shares, to Tumim was declared effective on November 29, 2021. The purchase price will be calculated as 97% of the volume weighted average prices of the Company's common stock during normal trading hours for three consecutive trading days commencing on the purchase notice date. Concurrent with the signing of the Second Tumim Purchase Agreement, the Company issued 252,040 shares of its common stock to Tumim as a commitment fee. The total fair value of the shares issued for the commitment fee of $2.9 million was recorded in selling, general, and administrative expense on the Company's consolidated statement of operations. During 2023, the Company sold 28,790,787 shares of common stock for proceeds of $59.2 million to Tumim under the terms of the Second Tumim Purchase Agreement, and terminated the Second Tumim Purchase Agreement during the third quarter of 2023. Equity Distribution Agreement In August 2022, the Company entered into an equity distribution agreement with Citi as sales agent, pursuant to which the Company can issue and sell shares of its common stock with an aggregate maximum offering price of $400.0 million. In August 2023, the Company restated the equity distribution agreement with Citi as a sales agent, pursuant to which the Company increased the aggregate maximum offering price by $200.0 million, resulting in an aggregate offering price of up to $600.0 million. The Company pays Citi a fixed commission rate of 2.5% of gross offering proceeds of shares sold under the Equity Distribution Agreement. During the year ended December 31, 2023, the Company sold 68,351,243 shares of common stock under the Equity Distribution Agreement at an average price per share of $1.76 for gross proceeds of $120.5 million and net proceeds of approximately $117.5 million, after $3.0 million in commissions and fees to the sales agent. During the year ended December 31, 2022, the Company sold 45,324,227 shares of common stock under the Equity Distribution Agreement at an average price per share of $3.70 for gross proceeds of $167.8 million and net proceeds of approximately $163.5 million, after $4.3 million in commissions and fees to the sales agent. Commissions incurred in connection with the Equity Distribution Agreement are reflected as a reduction of additional paid-in capital on the Company's consolidated balance sheets. As of December 31, 2023 and 2022, $49.5 thousand and $1.7 million, respectively, in commissions were recognized in accrued expenses and other current liabilities on the Company's consolidated balance sheets. Public Offerings The Company sold 29,910,715 shares of common stock in an underwritten public offering (the "Public Offering") at an offering price of $1.12 per share. The Public Offering closed on April 4, 2023, and the Company received net proceeds of $32.2 million after underwriter's discounts and offering costs. The Company sold 133,333,334 shares of common stock in an underwritten public offering (the "December 2023 Public Offering") at an offering price of $0.75 per share. The December 2023 Public Offering closed on December 12, 2023, and the Company received net proceeds of $95.6 million after underwriter's discounts and offering costs. Direct Offering The Company entered into a stock purchase agreement with an investor (the "Investor") pursuant to which the investor agreed to purchase up to $100.0 million of shares of the Company's common stock in a registered direct offering (the "Direct Offering"), with an actual amount of shares of common stock purchased in the Direct Offering reduced to the extent of the total number of shares issued pursuant to the Public Offering. The Direct Offering closed on April 11, 2023, and the Company sold 59,374,999 shares of common stock at the Public Offering price of $1.12 per share to the Investor for net proceeds of $63.2 million, after deducting placement agent fees and offering expenses.

STOCK-BASED COMPENSATION EXPENS

STOCK-BASED COMPENSATION EXPENSE	12 Months Ended
	Dec. 31, 2023
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”) provided for the grant of incentive and nonqualified options to purchase Legacy Nikola common stock to officers, employees, directors, and consultants of Legacy Nikola. Options were granted at a price not less than the fair market value on the date of grant and generally became exercisable between one 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 42,802,865, 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. The aggregate number of shares available for issuance under the 2020 ESPP is 4,000,000. At the Company's annual meeting of stockholders on August 3, 2023, the Company's stockholders approved an amendment to the 2020 Plan to increase the number of shares of common stock available for issuance by 30,000,000 shares. 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. Stock Options Options vest in accordance with the terms set forth in the grant letter. Time-based options generally vest ratably over a period of approximately 36 months. Changes in stock options are as follows: Options Weighted Weighted Aggregate Outstanding at December 31, 2022 22,470,585 $ 1.31 5.33 $ 23,418 Granted — — Exercised 6,723,629 1.06 Cancelled 705,583 2.45 Outstanding at December 31, 2023 15,041,373 $ 1.37 3.64 $ — Vested and exercisable as of December 31, 2023 15,041,373 $ 1.37 3.64 $ — There were 6,723,629, 6,424,780 and 3,472,267 stock options exercised during the years ended December 31, 2023, 2022 and 2021, respectively. The total intrinsic value of stock options exercised was $8.2 million, $14.6 million and $51.8 million during 2023, 2022 and 2021, respectively. The fair value of stock options vested during the year ended December 31, 2023 was immaterial. The fair value of stock options vested during the years ended December 31, 2022 and 2021 was $0.8 million, and $0.4 million, respectively. Restricted Stock Units The fair value of RSUs is based on the closing price of the Company's common stock on the grant date. The time-based RSUs generally vest in increments over a three year period or, in the case of executive officers, cliff-vest following the third anniversary from the date of grant. The RSUs to directors have a vesting cliff of one year after the grant date. Changes in RSUs are as follows: Number of RSUs Weighted-Average Grant Date Fair Value Balance at December 31, 2022 19,574,800 $ 10.0 Granted 26,365,516 1.3 Released 13,247,573 9.9 Cancelled 7,151,622 5.1 Balance at December 31, 2023 25,541,121 $ 2.1 During the fourth quarter of 2022, in connection with the Romeo Acquisition, each share of Romeo Common Stock that was issued and outstanding immediately prior to the effective time of the Romeo Acquisition was converted into the right to receive 0.1186 of a share of Nikola Common Stock, rounded down to the nearest whole number of shares of Nikola Common Stock. Each Romeo RSU and Romeo performance-related stock unit that was outstanding and not settled immediately prior to the effective time was settled for shares of Nikola Common Stock, determined by multiplying the number of shares of Romeo Common Stock that were subject to such Romeo RSU or Romeo PSU, as in effect immediately prior to the effective time, by 0.1186, rounded down to the nearest whole number of shares of Nikola Common Stock. Market Based RSUs The Company's market based RSUs contained a stock price index as a benchmark for vesting. Through the second quarter of 2022, these awards were issued with three milestones that vested depending upon a consecutive 20-trading day stock price target of the Company’s common stock. The Company's stock price targets ranged from $25 per share to $55 per share. At the time of their grant, the Company estimated the fair value of the awards using a Monte Carlo simulation model, which utilized significant assumptions consisting of risk-free interest rate in the range of 0.2% to 0.3%, and volatility in the range of 70% to 85%. During 2022, the Company granted 1,351,361 shares of market based RSUs to various executives in connection with either their hiring or assumption of new roles within the Company. The awards vest depending upon a consecutive 20-trading day stock price target of the Company’s common stock of $25 per share to $55 per share. The total grant date fair value of the market based RSUs was determined to be $3.2 million and is recognized over the requisite service period. During the third quarter of 2022, the market based RSUs subject to the $40 and $55 stock price milestones were cancelled and the Company expensed $55.8 million related to the cancelled awards representing the remaining unamortized expense as of the cancellation date. Additionally, during the third quarter of 2022, the performance period for the market based RSUs subject to the $25 stock price milestone was extended from June 3, 2023 to June 3, 2024. The incremental compensation cost from this modification was $4.3 million, determined by comparing the estimated fair value of the modified awards to the estimated fair value of the original awards immediately before the modification of the performance period. The remaining compensation cost related to the original award and the incremental compensation cost are recognized over the award's remaining requisite service period. The vested shares related to the modified awards are transferred to the award holders upon the completion of the requisite service period ending June 3, 2024, and upon achievement certification by the Company's board of directors. If the $25 target price is not achieved by the end of requisite service period, the market based RSUs are forfeited. During the second quarter of 2023, the market based RSUs subject to the $25 stock price milestones were cancelled and the Company expensed $6.8 million related to the cancelled awards representing the remaining unamortized expense as of the cancellation date. During 2023, the Company granted 5,000,000 performance-based RSUs to the Company's executive officers, which entitle them to receive a specified number of shares of the Company's common stock upon vesting. The number of shares earned could range between 0% and 200% of the target award depending upon the Company's performance at the conclusion of the three-year performance period, ending December 31, 2025. The performance condition of the awards is based on total shareholder return ("TSR") of the Company's common stock relative to a broad group of green energy companies. The TSR performance condition is deemed a market condition. The grant date fair value of the TSR awards was determined to be $12.5 million and is recognized over the vesting period. The estimated fair value of the market based RSUs and TSR awards as of each grant date, or as of the modification date, as applicable, were estimated 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 grant date fair value of the awards does not change throughout the vesting period. The following represents the range of assumptions used to determine the grant date or modification date fair value for these awards: For the years ended December 31, 2023 2022 Term (years) 2.20 - 2.70 0.80 - 1.80 Stock price $0.82 - $3.40 $5.32 - $9.66 Risk-free interest rate 3.93% - 5.03% 1.66% - 3.50% Expected volatility 99% - 127% 100% The following table summarizes 2023 market-based RSU activity: Number of Market Based RSUs Weighted-Average Grant Date Fair Value Balance at December 31, 2022 2,071,058 $ 24.5 Granted 5,000,000 2.5 Released — — Cancelled 4,071,058 13.1 Balance at December 31, 2023 3,000,000 $ 3.3 Stock-Based Compensation Expense The following table presents the impact of stock-based compensation expense on the consolidated statements of operations for the years ending December 31, 2023, 2022 and 2021, respectively: Years Ended December 31, 2023 2022 2021 Selling, general, and administrative $ 51,003 $ 214,717 $ 169,561 Research and development 22,213 34,949 36,150 Cost of revenues 2,175 2,779 — Total stock-based compensation expense $ 75,391 $ 252,445 $ 205,711 As of December 31, 2023, total unrecognized compensation expense and remaining weighted-average recognition period related to outstanding share-based awards were as follows: Unrecognized compensation expense Remaining weighted-average recognition period (years) Market Based RSUs $ 8,151 1.71 RSUs 31,174 2.00 Total unrecognized compensation expense at December 31, 2023 $ 39,325

DECONSOLIDATION OF SUBSIDIARY

DECONSOLIDATION OF SUBSIDIARY	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
DECONSOLIDATION OF SUBSIDIARY	DECONSOLIDATION OF SUBSIDIARY As discussed in Note 1, Basis of Presentation , on June 30, 2023, the Company transferred ownership of all of Romeo's right, title and interest in and to all of its tangible and intangible assets, subject to certain agreed upon exclusions, to the Assignee. The Company received no cash consideration related to the Assignment. The Company deconsolidated Romeo as of the Assignment as the Company no longer held a controlling financial interest in Romeo as of that date. The Company did not have any amounts included in accumulated other comprehensive loss associated with Romeo at the time of deconsolidation. The Assignment of Romeo represents a strategic shift and its results are reported as discontinued operations for the years ended December 31, 2023 and 2022. Following the Assignment, the Company retained no interest in Romeo, and Romeo is not deemed a related party. In connection with the deconsolidation, the Company recognized a loss from deconsolidation of subsidiaries of $24.9 million which is recorded in loss from deconsolidation of discontinued operations in the consolidated statements of operations for the year ended December 31, 2023 and consisted of the following: As of deconsolidation Assets deconsolidated: Cash and cash equivalents $ 213 Accounts receivable, net — Inventory 7,271 Prepaid expenses and other current assets 3,351 Restricted cash and cash equivalents, non-current 1,500 Property, plant and equipment, net 17,555 Intangible assets, net 656 Investments in affiliates 10,000 Other assets 23,364 Total assets deconsolidated $ 63,910 Liabilities deconsolidated: Accounts payable $ 15,583 Accrued expenses and other current liabilities 57,612 Debt and finance lease liabilities, current 1,206 Long-term debt and finance lease liabilities, net of current portion 1,160 Operating lease liabilities 21,664 Warrant liability 8 Other non-current liabilities — Total liabilities deconsolidated 97,233 Net liabilities derecognized from deconsolidation (33,323) Less: intercompany balances derecognized 54,084 Less: cash payments directly related to deconsolidation 2,724 Less: derecognition of goodwill 1,450 Loss from deconsolidation of discontinued operation $ 24,935 As of December 31, 2022, the assets and liabilities of Romeo subject to assignment for the benefit of creditors have been reflected as assets subject to assignment for the benefit of creditors and liabilities subject to assignment for the benefit of creditors on the Company's consolidated balance sheets and consisted of the following: As of December 31, 2022 Assets: Current assets Cash and cash equivalents $ 7,555 Accounts receivable, net 262 Inventory 11,327 Prepaid expenses and other current assets 9,881 Total current assets subject to assignment for the benefit of creditors 29,025 Non-current assets Restricted cash and cash equivalents, non-current 1,500 Property, plant and equipment, net 19,221 Intangible assets, net 621 Investments in affiliates 10,000 Prepayment - Long-term Supply Agreement 44,835 Other assets 23,948 Total non-current assets subject to assignment for the benefit of creditors 100,125 Total assets subject to assignment for the benefit of creditors $ 129,150 Liabilities: Current liabilities Accounts payable $ 24,672 Accrued expenses and other current liabilities 22,990 Debt and finance lease liabilities, current 1,440 Total current liabilities subject to assignment for the benefit of creditors 49,102 Long-term liabilities Long-term debt and finance lease liabilities, net of current portion 1,499 Operating lease liabilities 22,132 Warrant liability 40 Total long-term liabilities subject to assignment for the benefit of creditors 23,671 Total liabilities subject to assignment for the benefit of creditors $ 72,773 The following represents the major components of net loss from discontinued operations presented in the consolidated statements of operations: Years Ended December 31, 2023 2022 Revenues $ 1,665 $ 1,100 Cost of revenues 12,926 19,888 Gross loss (11,261) (18,788) Operating expenses: Research and development 5,673 3,287 Selling, general and administrative 14,937 23,968 Loss on supplier deposits 44,835 — Total operating expenses 65,445 27,255 Loss from operations (76,706) (46,043) Other income (expense), net Interest expense, net (53) (28) Revaluation of warrant liability 33 (29) Loss from discontinued operations $ (76,726) $ (46,100)

RETIREMENT SAVINGS PLAN

RETIREMENT SAVINGS PLAN	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
RETIREMENT SAVINGS PLAN	RETIREMENT SAVINGS PLAN The Company sponsored a savings plan available to all eligible employees, which qualifies under Section 401(k) of the Code. Employees may contribute to the plan amounts of their pre-tax salary subject to statutory limitations. Beginning in 2021, the Company provided an employer matching contribution for the amount a participant contributes as salary deferrals up to 100% of the amount contributed for the first 1% of the participant’s plan compensation plus 50% for each additional 1% of compensation contributed between 1% and 6% of the participant’s plan compensation. For the years ended December 31, 2023, 2022 and 2021, the Company provided $4.1 million, $3.5 million and $2.1 million, respectively, in matching contributions.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES A provision of $12.0 thousand, $6.0 thousand and $4.0 thousand has been recognized for the years ended December 31, 2023, 2022 and 2021, respectively, related primarily to changes in indefinite lived goodwill deferred tax liabilities. The components of the provision for income taxes for the years ended December 31, 2023, 2022 and 2021 consisted of the following: Years Ended December 31, 2023 2022 2021 Current tax provision Federal $ — $ — $ — State 2 3 1 Total current tax provision 2 3 1 Deferred tax provision Federal 1 — 1 State 9 3 2 Total deferred tax provision 10 3 3 Total income tax provision $ 12 $ 6 $ 4 The reconciliation of taxes at the federal statutory rate to the provision for income taxes for the years ended December 31, 2023, 2022 and 2021 was as follows: Years Ended December 31, 2023 2022 2021 Tax at statutory federal rate $ (181,041) $ (155,064) $ (144,848) State tax, net of federal benefit (70,917) (28,612) (21,212) Stock-based compensation 23,822 47,382 22,825 Section 162(m) limitation 3,551 3,725 2,009 Divestiture of affiliate (11,776) — — Research and development credits, net of uncertain tax position (13,822) (16,503) (12,558) Warrant revaluation (109) (971) (641) SEC Settlement — — 26,250 Change in fair value of convertible debt instruments 60,204 — — Non-deductible interest expense 16,666 — — Other 12,572 5,345 (438) Change in valuation allowance 160,862 144,704 128,617 Total income tax provision $ 12 $ 6 $ 4 Deferred tax assets and liabilities as of December 31, 2023 and 2022 consisted of the following: As of December 31, 2023 2022 Deferred tax assets: Federal and state income tax credits $ 66,692 $ 52,932 Net operating loss carryforward 397,340 317,393 Start-up costs capitalized 1,655 1,432 Stock-based compensation 4,659 13,599 Finance lease liabilities 32,202 15,017 Accrued purchase of intangible asset — 7,993 Inventory 21,999 2,758 Research expenditures 79,429 49,137 Warranty reserve 23,072 1,938 Other 2,429 — Total deferred tax assets 629,477 462,199 Valuation allowance (597,680) (435,923) Deferred tax assets, net of valuation allowance 31,797 26,276 Deferred tax liabilities: Intangible assets (2,775) (2,363) Finance lease assets (1,860) (1,975) Property, plant and equipment, net (27,184) (21,474) Other — (479) Total deferred tax liabilities (31,819) (26,291) Deferred tax liabilities, net $ (22) $ (15) The table above includes only deferred tax assets and liabilities related to continuing operations. As of December 31, 2023 and 2022, the Company had net deferred tax assets of $183.1 million and $158.7 million, respectively, related to assets subject to assignment for the benefit of creditors, subject to a full valuation allowance. The Company is required to reduce its deferred tax assets by a valuation allowance if it is more likely than not that some or all of its deferred tax assets will not be realized. Management must use judgment in assessing the potential need for a valuation allowance, which requires an evaluation of both negative and positive evidence. The weight given to the potential effect of negative and positive evidence should be commensurate with the extent to which it can be objectively verified. In determining the need for and amount of the valuation allowance, if any, the Company assesses the likelihood that it will be able to recover its deferred tax assets using historical levels of income, estimates of future income and tax planning strategies. As a result of historical cumulative losses, the Company determined that, based on all available evidence, there was substantial uncertainty as to whether it will recover recorded net deferred taxes in future periods. Accordingly, the Company recorded valuation allowances of $597.7 million, $435.9 million and $291.2 million at December 31, 2023, 2022 and 2021 respectively. The increase in the valuation allowance for the year ended December 31, 2023 of $161.8 million as reflected below, is due to increases in the net operating losses and research and development credit carryforwards. Years Ended December 31, 2023 2022 Valuation Allowance as of the beginning of the period $ (435,923) $ (291,222) Current Year Change (161,757) (144,701) Valuation Allowance as of the end of the period $ (597,680) $ (435,923) At December 31, 2023, the Company had federal net operating loss carryforwards of $11.2 million that expire in 2037 and $1.5 billion that have an indefinite carryforward period. The Company has combined state net operating loss carryforwards of $1.7 billion at December 31, 2023, that begin to expire in 2033. The Company had federal and state tax credits of $57.8 million and $37.3 million, respectively, at December 31, 2023, which if unused will begin to expire in 2038 for federal and 2032 for state tax purposes. The Tax Reform Act of 1986 (the "Act") provides for a limitation on the annual use of net operating loss ("NOL") carryforwards following certain ownership changes (as defined by the Act and codified under Section 382 of the Code) that could limit the Company’s ability to utilize these carryforwards. The Company determined that an ownership change occurred on September 30, 2023. An analysis was performed and while utilization of net operating losses may be subject to annual limitation prior to December 31, 2047, subsequent to that date there is no limitation on the Company’s ability to utilize its net operating losses. As such, the ownership change has no impact to the carrying value of the Company’s net operating loss carryforwards. The following table reflect changes in the unrecognized tax benefits: Years Ended December 31, 2023 2022 2021 Gross amount of unrecognized tax benefits as of the beginning of the year $ 18,076 $ 11,661 $ 7,392 Additions based on tax positions related to the current year 4,677 5,550 4,269 Additions based on tax position from prior years 11 865 — Gross amount of unrecognized tax benefits as of the end of the year $ 22,764 $ 18,076 $ 11,661 Effective July 11, 2017, the Company adopted the provisions of ASC Topic 740, Income Taxes. ASC Topic 740 provides that a tax benefit from an uncertain tax position may be recognized when it is more-likely-than-not that the position will be sustained in a court of last resort, based on the technical merits. If more-likely-than-not, the amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination, including compromise settlements. For tax positions not meeting the more-likely-than-not threshold, no tax benefit is recorded. As of December 31, 2023, 2022, and 2021, the Company had $22.8 million, $18.1 million, and $11.7 million, respectively, of gross unrecognized tax benefits, related to research and experimental tax credits. The Company does not expect a significant change to the amount of unrecognized tax benefits to occur within the next 12 months. The Company's policy is to recognize interest and penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties at December 31, 2023 or 2022, and has not recognized interest or penalties during the years ended December 31, 2023, 2022, and 2021, since there was no reduction in income taxes paid due to uncertain tax positions. On October 8 2021, the Organization for Economic Co-operation and Development ("OECD") released a statement on the OECD/G20 Inclusive Framework on Base Erosion and Profit Sharing, which agreed to a two-pillar solution to address tax challenges of the digital economy. On December 20, 2021, the OECD released the Model GloBE Rules for Pillar Two defining a 15% global minimum tax rate for large multinational corporations. The OECD continues to release additional guidance and countries are implementing legislation with widespread adoption of the Model GloBE Rules for Pillar Two expected by calendar year 2024. The Company is continuing to evaluate the Model GloBE Rules for Pillar Two and related legislation, and their potential impact on future periods. The Company is subject to taxation in the United States, various states, Canada, and Germany. As of December 31, 2023, all tax years remain open to examination, to the extent of the losses incurred.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
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. 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, and the outcome of litigation is inherently uncertain. The Company expenses professional legal fees as incurred, which are included in selling, general and administrative expense on the consolidated financial statements. Other than as described below, there is no material pending or threatened litigation against the Company that remains outstanding as of December 31, 2023. Regulatory and Governmental Investigations By order dated December 21, 2021, the Company and the SEC reached a settlement arising out of the SEC’s investigation of the Company related to a short-seller article published in September 2020. Under the terms of the settlement, without admitting or denying the SEC’s findings, the Company among other things, agreed to pay a $125 million civil penalty. The first $25 million installment was paid at the end of 2021 and the remaining installments to be paid semiannually through 2023. The Company previously reserved the full amount of the settlement in the quarter ended September 30, 2021, as disclosed in the Company’s quarterly report on Form 10-Q for such quarter, filed with the SEC on November 4, 2021. In July 2022, the Company and SEC agreed to an alternative payment plan with the first two payments of $5 million to be paid in July 2022 and December 2022. The July 2022 and December 2022 payments have been made by the Company. In February 2023, the Company and the SEC agreed to another alternative payment plan, with two payments of $1.5 million each to be paid in March 2023 and June 2023. The March 2023 and June 2023 payments have been made by the Company. In August 2023, the Company and the SEC agreed to make two additional payments of $1.5 million to be paid in September 2023 and December 2023, both of which have been made by the Company. The remainder of the payment plan is subject to determination. As of December 31, 2023, the Company has reflected the remaining liability of $84.0 million in accrued expenses and other current liabilities on the consolidated balance sheets. The legal and other professional costs the Company incurred during the years ended December 31, 2023 and 2022 and 2021 in connection with legal work disclosed elsewhere in this Report include approximately $0.2 million, $6.1 million and $22.4 million, respectively, expensed for Mr. Milton's attorneys' fees under his indemnification agreement with the Company. As of December 31, 2023 and 2022, the Company accrued immaterial amounts for legal and other professional costs for Mr. Milton's attorneys' fees under his indemnification agreement. To the extent that these investigations and any resulting third-party claims yield adverse results over time, such results could jeopardize the Company's operations and exhaust its cash reserves, and could cause stockholders to lose their entire investment. The Company is currently seeking reimbursement from Mr. Milton for costs and damages arising from the actions that are the subject of the government and regulatory investigations. On October 20, 2023, an arbitration panel in New York, New York awarded the Company approximately $165 million plus interest in an arbitration proceeding against Mr. Milton. The Company is currently in the process of seeking to have the arbitration award confirmed in the United States District Court of the District of Arizona. The Company's ability to enforce the arbitration award and recover any judgment from the counterparty is not guaranteed and could result in no recovery. Shareholder Securities Litigation The Company and certain of its current and former officers and directors are defendants in a consolidated securities class action lawsuit pending in the United States District Court of the District of Arizona (the "Shareholder Securities Litigation").On December 15, 2020, the United States District Court for the District of Arizona consolidated the actions under lead case Borteanu v. Nikola Corporation, et al., No. CV-20-01797-PXL-SPL, and appointed Angelo Baio as the “Lead Plaintiff”. On December 30, 2020, a petition for writ of mandamus seeking to vacate the District Court’s Lead Plaintiff order and directing the court to appoint another Lead Plaintiff was filed before the United States Court of Appeals for the Ninth Circuit, Case No. 20-73819. On July 23, 2021, the Ninth Circuit granted in part the mandamus petition, vacated the district court’s December 15, 2020 order, and remanded the case to the District Court to reevaluate the appointment of a Lead Plaintiff. On November 18, 2021, the Court appointed Nikola Investor Group II as Lead Plaintiff. On January 24, 2022, Lead Plaintiffs filed the Consolidated Amended Class Action Complaint which asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-5 promulgated thereunder, based on allegedly false and/or misleading statements and omissions in press releases, public filings, and in social media regarding the Company's business plan and prospects. On April 8, 2022, Defendants moved to dismiss the Consolidated Amended Class Action Complaint. On February 2, 2023, the court issued a ruling granting the Defendants' motions to dismiss, without prejudice. As a result, Plaintiffs' complaint was dismissed in its entirety, with leave to amend by April 3, 2023. On April 3, 2023, Plaintiffs filed the Second Consolidated Amended Class Action Complaint. Defendants filed their motions to dismiss the Second Consolidated Amended Class Action Complaint on May 15, 2023. On December 8, 2023, the Court granted in part and denied in part Defendants' motion to dismiss. On January 26, 2024, the Company and certain former officers and directors answered the Second Consolidated Amended Class Action Complaint. Plaintiffs seek an unspecified amount in damages, attorneys’ fees, and other relief. The Company intends to vigorously defend itself. The Company is unable to estimate the potential loss or range of loss, if any, associated with these lawsuits, which could be material. Derivative Litigation Beginning on September 23, 2020, two purported shareholder derivative actions were filed in the United States District Court for the District of Delaware ( Byun v. Milton, et al. , Case No. 1:20-cv-01277-UNA; Salguocar v. Girsky et. al., Case No. 1:20-cv-01404-UNA), purportedly on behalf of the Company, against certain of the Company's current and former directors alleging breaches of fiduciary duties, violations of Section 14(a) of the Exchange Act, and gross mismanagement. The Byun action also brings claims for unjust enrichment and abuse of control, while the Salguocar action brings a claim for waste of corporate assets. On October 19, 2020, the Byun action was stayed until 30 days after the earlier of (a) the Shareholder Securities Litigation being dismissed in their entirety with prejudice; (b) defendants filing an answer to any complaint in the Shareholder Securities Litigation; or (c) a joint request by plaintiff and defendants to lift the stay. On November 17, 2020, the Byun and Salguocar actions were consolidated as In re Nikola Corporation Derivative Litigation, Lead Case No. 20-cv-01277-CFC. In its order consolidating the actions, the Court applied the Byun stay to the consolidated action. On January 31, 2023, plaintiffs filed an amended complaint. On December 18, 2020, a purported shareholder derivative action was filed in the United States District Court for the District of Arizona, Huhn v. Milton et al., Case No. 2:20-cv-02437-DWL, purportedly on behalf of the Company, against certain of the Company’s current and former directors alleging breaches of fiduciary duties, violations of Section 14(a) of the Exchange Act, unjust enrichment, and against defendant Jeff Ubben, a member of the Company’s board of directors, insider selling and misappropriation of information. On January 26, 2021, the Huhn action was stayed until 30 days after the earlier of (a) the Shareholder Securities Litigation being dismissed in its entirety with prejudice; (b) defendants filing an answer to any complaint in the Shareholder Securities Litigation; or (c) a joint request by plaintiff and defendants to lift the stay. On January 7, 2022, Barbara Rhodes, a purported stockholder of the Company, filed her Verified Stockholder Derivative Complaint in Delaware Chancery Court captioned Rhodes v. Milton, et al. and Nikola Corp. , C.A. No. 2022-0023-KSJM (the “ Rhodes Action”). On January 10, 2022, Zachary BeHage and Benjamin Rowe, purported stockholders of the Company, filed their Verified Shareholder Derivative Complaint in Delaware Chancery Court captioned BeHage v. Milton, et al. and Nikola Corp. , C.A. No. 2022-0045-KSJM, (the “BeHage Rowe Action” and, together with the Rhodes Action, the "Related Actions"). These actions are against certain of the Company’s current and former directors and allege breach of fiduciary duties, insider selling under Brophy , aiding and abetting insider selling, aiding and abetting breach of fiduciary duties, unjust enrichment, and waste of corporate assets. On February 1, 2022, the Court consolidated the Rhodes Action and the BeHage Rowe Action as In re Nikola Corporation Derivative Litigation , C.A. No. 2022-0023-KJSM (the "Consolidated Chancery Action"). The Consolidated Chancery Action was stayed through February 2, 2022 on a combination of joint stipulations and court orders. Plaintiffs then filed a second amended complaint on February 14, 2023 (the “Second Amended Complaint”). On March 10, 2022, Michelle Brown and Crisanto Gomes, purported stockholders of the Company, filed their Verified Shareholder Derivative Complaint in Delaware Chancery Court captioned Brown v. Milton, et al. and Nikola Corp. , C.A. No. 2022-0223-KSJM (the “Brown & Gomes Action”). The Brown & Gomes Action likewise alleges claims against certain of the Company’s current and former directors for purported breaches of fiduciary duty and unjust enrichment. On January 12, 2023, the parties entered into a stipulation consolidating the Brown & Gomes Action in the Consolidated Chancery Derivative Action. On May 3, 2023, each of the current and former director defendants moved to partially dismiss the Second Amended Complaint. Briefing concluded on August 25, 2023, and the court heard argument on December 8, 2023. The court has not yet ruled on the motions. In addition, on March 8, 2021, the Company received a demand letter from a law firm representing a purported stockholder of the Company alleging facts and claims substantially the same as many of the facts and claims in the filed derivative shareholder lawsuit. The demand letter requests that the board of directors (i) undertake an independent internal investigation into certain board members and management’s purported violations of Delaware and/or federal law; and (ii) commence a civil action against those members of the board and management for alleged fiduciary breaches. In April 2021, the board of directors formed a demand review committee, consisting of independent directors Bruce L. Smith, and Mary L. Petrovich, to review such demands and provide input to the Company and retained independent counsel. Upon completion of the independent internal investigation by the demand review committee, it was recommended that the board take no action in response to the demand letter at this time. The independent counsel for the demand review committee provided an update to counsel for the stockholder who sent the demand letter. There can be no assurance as to whether any litigation will be commenced by or against the Company by the purported shareholder with respect to the claims set forth in the demand letter, or whether any such litigation could be material. Additionally, on December 23, 2022, the Company received another demand letter from a law firm representing purported stockholder of the Company, Ed Lomont, alleging facts and claims substantially the same as many of the facts and claims in the filed derivative shareholder lawsuits. The demand letter requested that the board’s demand review committee (i) undertake an independent internal investigation into certain board members and management’s purported violations of Delaware and/or federal law; and (ii) commence a civil action against those members of the board and management for alleged fiduciary breaches. In February 2023, the board of directors reengaged the demand review committee, consisting of independent directors Bruce L. Smith, and Mary L. Petrovich, to review such demands and provide input to the Company and retained independent counsel. On September 6, 2023, Lomont filed a Verified Stockholder Derivative Complaint in Delaware Chancery Court captioned Lomont v. Milton, et al.. , C.A. No. 2023-0908-KSJM (the “Lomont Action”) against certain of the Company’s current and former directors, alleging claims against those defendants for purported breaches of fiduciary duty, unjust enrichment, and contribution and indemnification. The Lomont Action alleges that the Company constructively and wrongfully refused Lomont’s demand that the Company bring claims against officers and directors. The parties have not yet entered into a schedule for the Lomont Action. The complaints seek unspecified monetary damages, costs and fees associated with bringing the actions, and reform of the Company's corporate governance, risk management and operating practices. The Company is vigorously defending against the foregoing complaints. The Company is unable to estimate the potential loss or range of loss, if any, associated with these lawsuits, which could be material. On February 21, 2024, a purported shareholder derivative action was filed in the United States District Court for the District of Delaware, captioned Roy v. Russell, et al., Case No. 1:24-cv-00230-UNA (the “Roy Action”), purportedly on behalf of the Company, against certain of the Company’s current and former officers and directors alleging violations of Section 14(a) of the Exchange Act, breach of fiduciary duty based on false statements; oversight, and insider trading; unjust enrichment; abuse of control; corporate waste; and gross mismanagement. The Company is currently evaluating the claims asserted in the complaint. Tenneson Action On October 13, 2023, John Tenneson filed a purported securities class action in the United States District Court for the District of Arizona, captioned Tenneson v. Nikola et al., Case No. 2:23-cv-02131-DJH (the “Tenneson Action”). The Tenneson Action asserts claims against the Company and certain officers and directors asserts under Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder, based on allegedly false and/or misleading statements and omissions in press releases, public filings, and in social media regarding the Company’s safety and structural controls related to its manufacturing of battery components and the likelihood of a product recall. On December 12, 2023, three sets of plaintiffs filed motions to be appointed as lead plaintiff. On January 16, 2024, the court entered the parties' stipulated extension of time for Defendants to respond to the complaint until after a lead plaintiff is appointed and an amended complaint is filed. Plaintiff seeks an unspecified amount in damages, attorneys’ fees, and other relief. The Company intends to vigorously defend itself. The Company is unable to estimate the potential loss or range of loss, if any, associated with the Tenneson Action, which could be material. Lion Electric matter On March 2, 2023, Lion Electric filed a complaint against Nikola in Arizona federal district court alleging that Nikola tortiously interfered with the Romeo Power, Inc. / Lion Electric business relationship and Lion’s business expectancy from the commercial relationship. Nikola denies the allegations and intends to vigorously defend the matter. Based upon information presently known to management, the Company has reflected an estimated liability of $1.8 million in accrued expenses and other current liabilities on the consolidated balance sheets. Lightning eMotors matter On March 9, 2023, Lighting eMotors filed a complaint in Colorado State Court alleging that Nikola tortiously interfered with the Romeo Power, Inc. / Lightning eMotors business relationship and Lightning’s business expectancy. Nikola denies the allegations and intends to vigorously defend the matter. Lightning eMotors recently went into receivership and its assets are subject to a pending sale. Accordingly, the Colorado State Court stayed this action indefinitely. Based upon information presently known to management, the Company is not currently able to estimate the outcome of this proceeding or a possible range of loss, if any. Purchase Commitments The Company enters into commitments under non-cancellable or partially cancellable purchase orders or vendor agreements in the normal course of business. The following table presents the Company's commitments and contractual obligations as of December 31, 2023: Payments due by period as of December 31, 2023 Total Less than 1 Year 1 - 3 Years 3 - 5 Years More than 5 Years Unrecorded contractual obligations: Purchase obligations $ 751,526 $ 12,186 $ 218,314 $ 335,876 $ 185,150 Leases executed not yet commenced 29,323 3,668 11,693 11,090 2,872 Recorded contractual obligations: Accrued SEC settlement 84,000 84,000 — — — FCPM License 19,314 13,796 5,518 — — Other accrued obligations 5,000 3,000 2,000 — — $ 889,163 $ 116,650 $ 237,525 $ 346,966 $ 188,022 Purchase commitments include agreements with hydrogen suppliers which require a minimum commitment of product purchases on a take-or-pay basis starting in the fourth quarter of 2023. The Company's purchase obligations with these suppliers contain minimum purchase quantities, provisions for price adjustments, and in certain instances, are contingent on the supplier's expected construction of the production site and commencement of production by a certain deadline. Commitments and Contingencies FCPM License In the third quarter of 2021, the Company entered into a FCPM license to intellectual property that will be used to adapt, further develop and assemble FCPMs. Payments for the license will be due in installments ranging from 2022 to 2023. As of December 31, 2023 and 2022, the Company accrued $13.8 million and $32.1 million, respectively, in accrued expenses and other current liabilities, and $5.5 million and zero, respectively, in other long-term liabilities on the consolidated balance sheets. Inventory Repurchase Agreements During the first quarter of 2023, the Company entered into an arrangement with a finance company to provide floor plan financing to its dealers (the "Floor Plan"), generally with terms of approximately 15 months. The Company receives payment from the finance company following shipment of trucks to the dealers, and the Company participates in the cost of dealer financing up to certain limits. In conjunction with the Floor Plan, the Company entered into an inventory repurchase agreement (the "Inventory Repurchase Agreement") with the finance company, whereby the Company has agreed to repurchase trucks re-possessed by the financing company in the event of a dealer default, at the financing company's option. As of December 31, 2023, the maximum potential cash payments the Company could be required to make under the terms of the Inventory Repurchase Agreement was $14.5 million. The Company's financial exposure under the Inventory Repurchase Agreement is limited to the difference between the amount paid to the financing company and the amount received upon subsequent resale of the re-possessed truck. As of December 31, 2023, the Company had not repurchased any trucks under the terms of the Inventory Repurchase Agreement, nor received any requests for repurchase. BEV Recall Campaign On August 11, 2023, the Company announced a voluntary recall of its BEV trucks, as a result of the preliminary results of the Company’s battery pack thermal event investigations. The incident was deemed likely caused by a defect within components of the supplier battery pack. The Company continues to investigate the thermal event and has determined that replacement of the battery pack in all BEV trucks is the safest, most cost effective remedy. All BEV trucks have been transported to the Company's manufacturing facility to be retrofit with alternative battery packs. Amounts accrued for the recall campaign are based on management’s best estimates of the amounts that will ultimately be required to settle such items. The Company can provide no assurances that it will not experience material claims in the future or that it will not incur significant costs to defend or settle such claims beyond the amounts accrued. As of December 31, 2023, the Company accrued $65.8 million related to the recall campaign, of which $3.0 million has been incurred through December 31, 2023 for the BEV trucks that are expected to be returned to dealers and their retail customers once the recall work is complete.

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2023
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 for the years ended December 31, 2023, 2022, and 2021. Years Ended December 31, 2023 2022 2021 Numerator: Net loss from continuing operations $ (864,621) $ (738,138) $ (690,438) Net loss from discontinued operations (101,661) (46,100) — Net loss, basic $ (966,282) $ (784,238) $ (690,438) Less: revaluation of warrant liability — — (3,051) Net loss, diluted $ (966,282) $ (784,238) $ (693,489) Denominator: Weighted average shares outstanding, basic 800,030,551 441,800,499 398,655,081 Dilutive effect of common stock issuable from assumed exercise of options — — 129,311 Weighted average shares outstanding, diluted 800,030,551 441,800,499 398,784,392 Basic net loss per share: Net loss from continuing operations $ (1.08) $ (1.67) $ (1.73) Net loss from discontinued operations $ (0.13) $ (0.11) $ — Net loss $ (1.21) $ (1.78) $ (1.73) Diluted net loss per share: Net loss $ (1.21) $ (1.78) $ (1.74) Basic net loss per share is computed by dividing net loss for the period by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss, adjusted for the revaluation of warrant liability, by the weighted average number of common shares outstanding for the period, adjusted for the dilutive effect of shares of common stock equivalents resulting from the assumed exercise of warrants. The treasury stock method was used to calculate the potential dilutive effect of these common stock equivalents. Potentially dilutive shares were excluded from the computation of diluted net loss when their effect was antidilutive. The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive. Years Ended December 31, 2023 2022 2021 Toggle Convertible Notes (on an as-converted basis) 21,539,624 24,123,014 — Senior Convertible Notes (on an as-converted basis) — 22,418,653 — 8.25% Convertible Notes (on an as-converted basis) 23,953,333 — — Outstanding warrants 841,183 1,137,850 — Stock options, including performance stock options 15,041,373 22,470,585 28,996,160 Restricted stock units, including Market Based RSUs 28,541,121 21,645,858 25,496,384 Total 89,916,634 91,795,960 54,492,544

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS FFI Purchase Agreement In January 2024, the Company completed the second closing under the terms of the FFI Purchase Agreement in connection with the sale of certain project assets related to Phoenix Hydrogen Hub, LLC to FFI. The Company received net proceeds of $12.5 million in February 2024 related to the second closing under the FFI Purchase Agreement. Conversions During January and February 2024,

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with GAAP and pursuant to the regulations of the SEC. 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.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated.
Comprehensive Loss	Comprehensive Loss Comprehensive loss represents the net loss for the period adjusted for other comprehensive loss. Other comprehensive loss is comprised of currency translation adjustments relating to the Company's subsidiaries and equity method investments, whose functional currency is not the U.S. dollar.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the balance sheet date, as well as reported amounts of revenue and expenses during the reporting period. Th e Company's most significant estimates and judgments involve valuation of the Company's stock-based compensation related to the fair value of market-based restricted stock units, assignment of fair value and allocation of purchase price in connection with the Romeo Acquisition, the valuations of warrant liabilities, derivative liabilities, the Put Right and Price Differential, estimates related to the Company's lease assumptions and revenue recognition, contingent liabilities, including litigation reserves, inventory valuation and warranty reserves, including inputs and assumptions related to recall campaigns. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates.
Segment Information	Segment Information Under ASC 280, Segment Reporting , operating segments are defined as components of an enterprise where discrete financial information is available that is evaluated regularly by the chief operating decision-maker ("CODM"), in deciding how to allocate resources and in assessing performance. The Company has two business units, the Truck business unit and Energy business unit. The Truck business unit is manufacturing and selling FCEV and BEV trucks that provide, or are expected to provide, environmentally friendly, cost effective solutions to the trucking sector. The Energy business unit is developing and constructing a network of hydrogen fueling stations to meet hydrogen fuel demand for the Company's customers. The Company's chief executive officer, who is also the CODM, makes decisions and manages the Company's operations as a single reporting unit, and single operating and reportable segment for purposes of allocating resources and evaluating financial performance.
Accounts Receivable, net	Accounts Receivable, net
Concentration of Credit Risk	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
Concentration of Supplier Risk	Concentration of Supplier Risk The Company is subject to risks related to its dependence on suppliers as some of the components and technologies used in the Company’s products are produced by a limited number of sources or contract manufacturers. The inability of these suppliers to deliver necessary components in a timely manner, at prices and quantities acceptable to the Company may cause the Company to incur transition costs to other suppliers and could have a material and adverse impact on the Company’s business, growth and financial and operating results. For example, the Company relies on a limited number of suppliers of battery products. The manufacturing process of battery products is complex, highly technical and can be affected by supply chain disruptions and component shortages.
Concentration of Customer Risk	Concentration of Customer Risk The Company is subject to risks related to its dependence on dealers to facilitate sales to end users. The Company sold FCEV and BEV trucks to ten dealers during the year ended December 31, 2023, with four dealers individually representing sales in excess of 10% of total revenue. The loss of any of these dealers, or a significant reduction in sales to any such dealer, could adversely affect the Company's revenues.
Cash, Cash Equivalents and Restricted Cash and Cash Equivalents	Cash, Cash Equivalents and Restricted Cash and Cash Equivalents
Inventory	Inventory Inventory cost is computed using standard cost, which approximates actual cost on a first-in, first-out basis. Inventories are stated at the lower of cost or net realizable value. Inventories are written down for any excess or obsolescence and when net realizable value, which is based upon estimated selling prices, is in excess of carrying value plus costs to complete. Once inventory is written-down, a new, lower cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration of or increase in that newly established cost basis.
Investments	Investments Variable Interest Entities The Company may enter into investments in entities that are considered variable interest entities ("VIE") under ASC 810, Consolidations . A VIE is an entity that has either insufficient equity to permit the entity to finance its activities without additional subordinated financial support or equity investors who lack the characteristics of a controlling financial interest. If the Company is a primary beneficiary of a VIE, it is required to consolidate the entity. To determine if the Company is the primary beneficiary of a VIE, the Company evaluates whether it has both the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the Company. If the Company is not the primary beneficiary and an ownership interest is held in the entity, the interest is accounted for under the equity method of accounting. The Company continuously assesses whether it is the primary beneficiary of a VIE as changes to existing relationships or future transactions may result in changing conclusions. Equity Method
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is stated at cost less accumulated depreciation. Repair and maintenance costs are expensed as incurred. Depreciation is generally computed on a straight-line basis over estimated useful life of the respective assets, except for tooling which is depreciated using the consumption method over the estimated productive life of the asset. The useful lives of the Company's assets are as follows: Computers 3 years Software 3 to 5 years Demo trucks 2 years Vehicles 5 years Machinery and equipment 3 to 20 years Furniture and fixtures 7 years Leasehold improvements Shorter of useful life or lease term Tooling Based off estimated production quantity Buildings 20 to 40 years Deposits on equipment are reclassified from long-term deposits to property, plant and equipment upon receipt or transfer of title of the related equipment.
Leases	Leases The Company determines if an arrangement is or contains a lease at inception. This determination depends on whether the arrangement conveys the right to control the use of an explicitly or implicitly identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed if the Company obtains the right to direct the use of and obtains substantially all of the economic benefits from using the underlying asset. The Company classifies leases with contractual terms greater than 12 months as either operating or finance. Leases with terms of 12 months or less are not recognized as right-of-use assets or lease liabilities on the consolidated balance sheets pursuant to the short-term lease exclusion. Lease liabilities are recognized based on the present value of lease payments, reduced by lease incentives, at the lease commencement date. The Company uses an incremental borrowing rate to determine the present value of lease payments when the rate implicit in the lease is not readily determinable. The Company's incremental borrowing rate is the rate of interest that it would have to pay to borrow an amount equal to the lease payments, on a collateralized basis and in a similar economic environment over a similar term. Lease assets are recognized based on the related lease liabilities, plus any prepaid lease payments and initial direct costs from executing the leasing arrangement. The lease term includes the base, non-cancelable lease term, and any options to extend or terminate the lease when it is reasonably certain, at commencement, that the Company will exercise such options. Finance lease assets are amortized on a straight-line basis over the shorter of the estimated useful life of the assets or the lease term. The interest component of a finance lease is included in interest expense, net on the consolidated statements of operations and recognized using the effective interest method over the lease term. Operating lease assets are amortized on a straight-line basis over the term of the lease. Leases with terms of 12 months or less at commencement are expensed over the lease term. The Company has also elected not to separate lease and non-lease components within a leasing arrangement related to the Company's existing classes of assets. Non-lease components primarily include payments for maintenance and utilities. Variable payments related to a lease are expensed as incurred. These costs often relate to payments for real estate taxes, insurance, common area maintenance, and other operating costs in addition to base rent.
Goodwill	Goodwill The Company records goodwill when consideration paid in a purchase acquisition exceeds the fair value of the net tangible assets and the identified intangible assets acquired. Goodwill is not amortized, but rather is tested for impairment annually or more frequently if facts and circumstances warrant a review. The Company has determined that there is a single reporting unit for the purpose of the goodwill impairment test, which is performed annually. For purposes of assessing the impairment of goodwill, the Company performs a qualitative analysis on December 31 of each year to determine if events or changes in circumstances indicate the fair value of the reporting unit is less than its carrying value. Factors considered which could trigger a further impairment review include, but are not limited to, significant under-performance relative to historical or projected future operating results, significant changes in the manner of use of the acquired assets, the Company's overall business strategy, and significant industry or macroeconomic trends. If the qualitative analysis indicates that the carrying value of the asset may not be recoverable based on the existence of one or more of the above indicators, recoverability is determined by comparing the carrying amount of the asset to net future undiscounted cash flows that the asset is expected to generate. An impairment charge would then be recognized equal to the amount by which the carrying amount exceeds the fair-market value of the asset.
Intangible Assets with Indefinite Useful Lives	Intangible Assets with Indefinite Useful Lives The Company is required to test its intangible assets with indefinite lives for impairment annually using the guidance for indefinite-lived intangible assets. The Company's evaluation consists of first assessing qualitative factors to determine if impairment of the asset is more likely than not. If it is more likely than not that the asset is impaired, the Company determines the fair value of the asset and records an impairment charge if the carrying amount exceeds the fair value. There were no impairments of indefinite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021. See Note 6, Intangible Assets, Net , for further discussion. For intangible assets acquired in a non-monetary exchange, the estimated fair value of the shares transferred are used to establish their recorded values.
Long-Lived Assets and Finite Lived Intangibles	Long-Lived Assets and Finite Lived Intangibles The Company has finite lived intangible assets related to licenses. The Company reviews its long-lived assets and finite lived intangibles for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The events and circumstances the Company monitors and considers include significant decreases in the market price of similar assets, significant adverse changes to the extent and manner in which the asset is used, an adverse change in legal factors or business climate, an accumulation of costs that exceed the estimated cost to acquire or develop a similar asset, and continuing losses that exceed forecasted costs. The Company assesses the recoverability of these assets by comparing the carrying amount of such assets or asset group to the future undiscounted cash flow it expects the assets or asset group to generate. The Company recognizes an impairment loss if the sum of the expected long-term undiscounted cash flows that the long-lived asset is expected to generate is less than the carrying amount of the long-lived asset being evaluated. An impairment charge would then be recognized equal to the amount by which the carrying amount exceeds the fair value of the asset.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. A valuation allowance is recognized when it is more likely than not that some portion or all of a deferred tax asset will not be realized. Due to the Company's lack of earnings history, the net deferred tax assets have been fully offset by a valuation allowance as of December 31, 2023 and 2022. Uncertain tax positions taken or expected to be taken in a tax return are accounted for using the more likely than not threshold for financial statement recognition and measurement.
Stock-based Compensation	Stock-based Compensation The Company recognizes the cost of stock-based awards granted to employees and directors based on the estimated grant-date fair value of the awards. Cost is recognized on a straight-line basis over the service period, which is generally the vesting period of the award. The Company reverses previously recognized costs for unvested awards in the period forfeitures occur. The fair value of restricted stock unit ("RSU") awards is determined using the closing price of the Company's common stock on the grant date. The fair value of market based RSU awards ("Market Based RSUs") is 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. During the fourth quarter of 2022, the Company issued replacement awards in connection with the Romeo Acquisition in exchange for awards held by employees of Romeo who became employees of the Company. The portion of the acquiree awards that are attributable to pre-acquisition service are recognized as purchase consideration. The portion of the replacement awards attributable to post-acquisition service are recognized as compensation expense and classified in the consolidated statements of operations according to the activities that the employees perform.
Warrant Liability	Warrant Liability The Company may issue common stock warrants with debt, equity or as a standalone financing instruments that are recorded as either liabilities or equity in accordance with the respective accounting guidance. Warrants recorded as equity are recorded at their relative fair value determined at the issuance date and remeasurement is not required. Warrants recorded as liabilities are recorded at their fair value, within other long-term liabilities on the consolidated balance sheets, and remeasured on each reporting date with changes recorded in revaluation of warrant liability on the Company's consolidated statements of operations.
Revenue Recognition	Revenue Recognition Truck sales Truck sales consist of revenue recognized on the sales of the Company's trucks. The sale of a truck is generally recognized as a single performance obligation at the point in time when control is transferred to the customer, which has historically been only the Company's dealers. Control is generally deemed transferred when the product is picked up by the carrier and the dealer can direct the product's use and obtain substantially all of the remaining benefits from the product. The Company may offer certain after-market upgrades at the request of dealers. If a contract contains more than one distinct performance obligation, the transaction price is allocated to each performance obligation based on the standalone selling price of each performance obligation. In accordance with state law and the Company's dealer agreements, the Company may be required to repurchase dealer inventory in the event a dealer agreement is terminated, and accounts for these as sales with right of return. Revenue is recognized based on the transaction price, which is measured as the amount of consideration that the Company expects to receive in exchange for transferring the product pursuant to the terms of the contract with its dealer. The transaction price may be adjusted, if applicable, for variable consideration, such as rebates and financing costs on floor plan arrangements, which requires the Company to make estimates for the portion of these allowances that have yet to be credited to dealers. Payments for trucks sold are made in accordance with the Company's customary payment terms. The Company has elected an accounting policy whereby the Company does not adjust the promised amount of consideration for the effects of a significant financing component because, at contract inception, the Company expects the period between the time when the Company transfers a promised good or service to the dealer and the time when the dealer pays for that good or service will be one year or less. Sales tax collected from dealers is not considered revenue and is accrued until remitted to the taxing authorities. Shipping and handling activities occur after the dealer has obtained control of the product, thus the Company has elected to account for those expenses as fulfillment costs in cost of revenues, rather than an additional promised service. Service and other
Product Warranties and Recall Campaigns	Product Warranties and Recall Campaigns Product warranty costs are recognized upon transfer of control of trucks to dealers, and are estimated based on factors including the length of the warranty (generally 2 to 5 years), product costs, and product failure rates. Warranty reserves are reviewed and adjusted quarterly to ensure that accruals are adequate to meet expected future warranty obligations. Estimating future warranty costs is highly subjective and requires significant management judgment. Management believes that the accruals are adequate, however, based on the limited historical information available, it is possible that substantial additional charges may be required in future periods based on new information or changes in facts and circumstances. The Company's accrual includes estimates of the replacement costs for covered parts which is based on historical experience. This could be impacted by contractual changes with third-party suppliers or the need to identify new suppliers and the engineering and design costs that would accompany such a change. Increases in estimated replacement costs of 10% could increase accrued warranty costs by $1.4 million. The warranty accrual also includes estimated failure rates for certain components covered by the warranty. There is limited history to inform these estimates due to the recent launch of the Company's products, and changes to the estimated failure rates of 10% could increase the accrual by $1.1 million. Recall campaign costs are recognized when a product recall liability is probable and related amounts are reasonably estimable. Costs are estimated based on the number of trucks to be repaired and the required repairs including engineering and development, product costs, labor rates, and shipping. Estimating the cost to repair the trucks is highly subjective and requires significant management judgment. Based on information that is currently available, management believes that the accruals are adequate. It is possible that substantial additional charges may be required in future periods based on new information, changes in facts and circumstances, availability of materials from key suppliers, and actions the Company may commit to or be required to undertake. During the third quarter of 2023, the Company filed a voluntary recall with the National Highway Traffic Safety Administration for the Company's BEV trucks. The recall was initiated as a result of preliminary results of the Company's battery pack thermal event investigation. The investigation was in response to a thermal event caused by a battery pack defect and is ongoing. The Company has transported all BEV trucks to the Company's manufacturing facility where they are being retrofit with battery packs from another supplier. The Company accrued recall campaign costs of $65.8 million, of which $3.0 million has been incurred through December 31, 2023 for the BEV trucks that are expected to be returned to dealers and their retail customers once the recall work is complete. The accrual includes estimates of product costs which are based upon historical experience. This could be impacted by contractual changes with third-party suppliers or the need to identify new suppliers and the engineering and design costs that would accompany such a change. Increases to the estimated product costs of 10% could increase the accrual by $4.3 million. The Company placed a temporary hold on new BEV truck shipments until its
Research and Development Expense	Research and Development Expense Research and development expense consist of outsourced engineering services, allocated facilities costs, depreciation, internal engineering and development expenses, materials, labor, stock-based compensation related to development of the Company's products and services, and expenses related to operating the manufacturing plant until the start of commercial production. Research and development costs are expensed as incurred.
Selling, General, and Administrative Expense	Selling, General, and Administrative Expense Selling, general, and administrative expense consist of personnel related expenses for corporate, executive, finance, and other administrative functions, expenses for outside professional services, including legal, audit and accounting services, as well as expenses for facilities, depreciation, amortization, travel, and marketing costs. Personnel related expenses consist of salaries, benefits, and stock-based compensation.
Advertising Expense	Advertising expense is expensed as incurred
Other Income (Expense)	Other Income (Expense) Other income (expense)
Net Loss Per Share	Net Loss Per Share Basic net loss per share is computed by dividing net loss for the period by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss, adjusted for the revaluation of warrant liability, by the weighted average number of common shares outstanding for the period, adjusted for the dilutive effect of shares of common stock
Recent Accounting Pronouncements	(aa) Recent Accounting Pronouncements . Recently issued accounting pronouncements not yet adopted In October 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2023-06 to clarify or improve disclosure and presentation requirements of a variety of topics, which will allow users to more easily compare entities subject to the SEC's existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the FASB accounting standard codification with the SEC's regulations. The Company is currently evaluating the provisions of the amendments and the impact on its future consolidated statements In December 2023, FASB issued ASU No. 2023-09, Income Taxes, to enhance income tax disclosures to address investor requests for more information about the tax risks and opportunities present in an entity’s worldwide operation. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 and early adoption is permitted. The Company plans to adopt ASU 2023-09 for the year ended December 31, 2025, and is currently evaluating the impact of this accounting standard update on its consolidated financial statements and related disclosures.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023 2022 2021 Cash and cash equivalents $ 464,715 $ 225,850 $ 497,241 Restricted cash and cash equivalents—current 1,224 10,600 — Restricted cash and cash equivalents—non-current 28,026 77,459 25,000 Cash, cash equivalents and restricted cash and cash equivalents $ 493,965 $ 313,909 $ 522,241
Schedule of 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 December 31, 2023 2022 2021 Cash and cash equivalents $ 464,715 $ 225,850 $ 497,241 Restricted cash and cash equivalents—current 1,224 10,600 — Restricted cash and cash equivalents—non-current 28,026 77,459 25,000 Cash, cash equivalents and restricted cash and cash equivalents $ 493,965 $ 313,909 $ 522,241
Schedule of Carrying Value and Fair Value of Financial Instruments	The carrying value and fair value of the Company's financial instruments are as follows: As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents—money market $ 29,839 $ — $ — $ 29,839 Derivative asset — — 69 69 Liabilities Derivative liability $ — $ — $ 8,871 $ 8,871 Warrant liability — — 10 10 As of December 31, 2022 Level 1 Level 2 Level 3 Total Assets Derivative asset $ — $ — $ 170 $ 170 Liabilities Warrant liability $ — $ — $ 381 $ 381 Senior Convertible Notes — — 50,000 50,000
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The change in fair value of the derivative asset was as follows: Derivative asset Estimated fair value at December 31, 2021 $ — Recognition of derivative asset 1,500 Change in estimated fair value (1,330) Estimated fair value at December 31, 2022 170 Change in estimated fair value (101) Estimated fair value at December 31, 2023 $ 69 During the year ended December 31, 2023, the change in fair value of the contingent stock consideration was as follows: Stock consideration receivable Fair value at June 29, 2023 $ 25,956 Change in fair value 43,981 Receipt of shares for stock consideration (69,937) Fair value at December 31, 2023 $ —
Schedule of Changes in Forward Contract and Warrant Liability	The change in fair value of the Warrant Liabilities was as follows: Warrant liabilities Estimated fair value at December 31, 2020 $ 7,335 Change in estimated fair value (3,051) Estimated fair value at December 31, 2021 4,284 Change in estimated fair value (3,903) Estimated fair value at December 31, 2022 381 Change in estimated fair value (371) Estimated fair value at December 31, 2023 $ 10 During the year ended December 31, 2023 , the change in fair value of the derivative liabilities was as follows: Derivative liability Estimated fair value as of December 31, 2022 $ — Recognition of derivative liability 21,180 Change in estimated fair value 220,671 Reclassification to equity (241,851) Estimated fair value at December 31, 2023 $ — Derivative liability Estimated fair value as of December 31, 2022 $ — Recognition of derivative liability 47,250 Change in estimated fair value 10,458 Settlement of derivative liability for conversions (48,837) Estimated fair value as of December 31, 2023 $ 8,871 December 31, 2023 , were as follows: Liability classified awards Liability classified awards as of December 31, 2022 $ — Reclassification of share-based payment awards to liability 10,401 Change in fair value 10,591 Reclassification of share-based payment awards to equity (20,992) Liability classified awards as of December 31, 2023 $ —
Schedule of Inputs and Assumptions Used	The following reflects the inputs and assumptions used: As of December 31, 2023 2022 Stock price $ 0.88 $ 2.16 Exercise price $ 11.50 $ 11.50 Remaining term (in years) 1.42 2.42 Volatility 100 % 100 % Risk-free rate 4.51 % 4.28 % Expected dividend yield — — As of June 22, 2021 Stock price $ 17.32 Strike price $ 14.86 Volatility 95 % Risk-free rate 0.10 % For The Year Ended December 31, 2023 Stock price $1.09 - $3.40 Conversion price $1.46 - $1.48 Risk free rate 3.76% - 4.58% Equity volatility 47.5% - 70% Expected dividend yield —% Credit spread 14.9% - 20.1% The fair value of the conversion features was estimated by applying a with-and without approach. The following reflects the ranges of inputs and assumptions used: For the year ended December 31, 2023 Stock price $0.72 - $0.91 Conversion price $0.90 Risk free rate 3.97% - 4.42% Credit spread 14.20% - 15.10%
Schedule of Changes in Fair Value of Derivatives Liabilities and Assets	The change in fair value of the derivative liability was as follows: Derivative liability Estimated fair value at December 31, 2020 $ — Recognition of derivative liability 7,705 Change in estimated fair value (104) Settlement of first price differential (3,412) Estimated fair value at December 31, 2021 4,189 Change in estimated fair value 2,399 Settlement of second price differential (6,588) Estimated fair value at December 31, 2022 $ —
Schedule of Property, Plant and Equipment	The useful lives of the Company's assets are as follows: Computers 3 years Software 3 to 5 years Demo trucks 2 years Vehicles 5 years Machinery and equipment 3 to 20 years Furniture and fixtures 7 years Leasehold improvements Shorter of useful life or lease term Tooling Based off estimated production quantity Buildings 20 to 40 years Property, plant and equipment, net consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Buildings $ 239,918 $ 127,797 Construction-in-progress 135,994 209,187 Equipment 67,657 35,257 Tooling 39,389 17,693 Finance lease assets 37,504 2,193 Software 8,649 8,568 Land 7,957 24,762 Other 4,926 3,501 Leasehold improvements 3,100 2,953 Furniture and fixtures 1,483 1,492 Demo vehicles 788 15,215 Property, plant and equipment, gross 547,365 448,618 Less: accumulated depreciation and amortization (43,949) (30,833) Total property, plant and equipment, net $ 503,416 $ 417,785
Schedule of Product Warranty Liability	The change in warranty liability for the year ended December 31, 2023 is summarized as follows: Warranty liability Accrued warranty at December 31, 2021 $ — Warranties issued in period - product warranty 8,079 Warranty costs incurred (291) Accrued warranty at December 31, 2022 7,788 Warranties issued in period - product warranty 11,888 Warranties issued in period - recall campaign 65,778 Net changes in liability for pre-existing warranties (2,622) Warranty costs incurred (3,886) Accrued warranty at December 31, 2023 $ 78,946

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	Total consideration for the acquisition of Romeo is summarized as follows: Purchase consideration Fair value of Nikola common stock issued to Romeo stockholders (1) $ 67,535 Settlement of pre-existing relationships in the form of loan forgiveness (2) 27,923 Settlement of pre-existing relationships in the form of accounts payable (18,216) Fair value of outstanding stock compensation awards attributable to pre-acquisition services (3) 1,345 Total purchase consideration $ 78,587 (1) Represents the acquisition date fair value of 22.1 million shares of Nikola common stock issued to Romeo stockholders, based on the Romeo Exchange Ratio for each outstanding share of Romeo Common Stock, at the October 14, 2022 closing price of $3.06 per share. (2) The Company entered into an Agreement and Plan of Merger and Reorganization dated July 30, 2022 (the "Merger Agreement") with Romeo. Concurrently wi th the execution of the Merger Agreement, Romeo entered into a loan agreement (the "Loan Agreement") with the Company as the lender. The Loan Agreement provided for a facility in an aggregate principal amount of up to $30.0 million (subject to certain incremental increases of up to $20.0 million), which were available for drawing subject to certain terms and conditions set forth in the Loan Agreement. Interest was payable on borrowings under the facility at the secured overnight financing rate ("SOFR") plus 8.00%. Upon closing, the loan and related accrued interest were forgiven and considered part of the purchase price. As of acquisition close, Romeo had drawn $12.5 million on the loan and accrued $0.1 million in interest. Additionally, as part of the Loan Agreement entered into with Romeo, the Company agreed to a short-term battery price increase. Through the acquisition close, the Company recorded $15.3 million in prepaid expenses and other current assets on the consolidated balance sheets related to the incremental pack price increase, which was considered part of the purchase consideration upon close. (3) Represents the portion of the fair value of the replacement awards related to services provided prior to the acquisition. The remaining portion of the fair value is associated with future service and will be recognized as expense over the future service period.

BALANCE SHEET COMPONENTS (Table

BALANCE SHEET COMPONENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Components of Inventory	Inventory consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Raw materials $ 32,889 $ 52,442 Work-in-process 15,486 9,646 Finished goods 8,206 47,677 Service parts 6,007 2,105 Total inventory $ 62,588 $ 111,870
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Prepaid expenses $ 6,152 $ 5,333 Non-trade receivables 5,570 6,064 Inventory deposits 4,843 415 Holdback receivable 3,655 — Prepaid insurance premiums 2,148 3,611 Deposits 1,643 3,917 Prepaid software 1,421 1,015 Deferred implementation costs 479 2,101 Headquarters sale agreement receivable — 5,487 Total prepaid expenses and other current assets $ 25,911 $ 27,943
Schedule of Property, Plant and Equipment	The useful lives of the Company's assets are as follows: Computers 3 years Software 3 to 5 years Demo trucks 2 years Vehicles 5 years Machinery and equipment 3 to 20 years Furniture and fixtures 7 years Leasehold improvements Shorter of useful life or lease term Tooling Based off estimated production quantity Buildings 20 to 40 years Property, plant and equipment, net consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Buildings $ 239,918 $ 127,797 Construction-in-progress 135,994 209,187 Equipment 67,657 35,257 Tooling 39,389 17,693 Finance lease assets 37,504 2,193 Software 8,649 8,568 Land 7,957 24,762 Other 4,926 3,501 Leasehold improvements 3,100 2,953 Furniture and fixtures 1,483 1,492 Demo vehicles 788 15,215 Property, plant and equipment, gross 547,365 448,618 Less: accumulated depreciation and amortization (43,949) (30,833) Total property, plant and equipment, net $ 503,416 $ 417,785
Schedule of Accounts Payable and Accrued Liabilities	Accrued expenses and other current liabilities consisted of the following at December 31, 2023 and 2022, respectively: As of December 31, 2023 2022 Settlement liabilities $ 91,330 $ 90,000 Warranty liability, current 65,703 1,484 Accrued purchase of intangible asset 13,796 32,126 Derivative liability 8,871 — Inventory received not yet invoiced 8,642 18,167 Other accrued expenses 5,137 2,152 Accrued outsourced engineering services 4,207 8,056 Accrued payroll and payroll related expenses 3,254 8,298 Accrued purchases of property, plant and equipment 2,458 3,587 Operating lease liabilities, current 1,867 1,979 Accrued legal expenses 1,708 2,041 Accrued Equity Distribution Agreement Fees 49 1,681 Supply agreement revision commitment — 10,000 Total accrued expenses and other current liabilities $ 207,022 $ 179,571

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Lease, Cost	The following table summarizes the effects of finance and operating lease costs in the Company's consolidated statements of operations: Consolidated Statements of Operations Caption Year Ended December 31, 2023 2022 2021 Operating lease cost: Lease cost Selling, general and administrative $ 2,622 $ 1,182 $ 130 Variable lease cost (1) Selling, general and administrative 219 212 26 Total operating lease cost 2,841 1,394 156 Short-term lease cost Research and development, Selling, general and administrative and Cost of revenues 3,617 1,744 1,155 Finance lease cost: Amortization of right of use assets Research and development, Selling, general and administrative and Cost of revenues 979 342 2,758 Interest on lease liabilities Interest expense, net 753 44 789 Variable lease cost (1) Selling, general and administrative and Cost of revenues 44 55 738 Total finance lease cost 1,776 441 4,285 Total lease cost $ 8,234 $ 3,579 $ 5,596 (1)
Schedule of Assets and Liabilities, Lessee	Supplemental balance sheet information related to leases is as follows: Classification As of December 31, 2023 2022 Assets Finance lease assets, net Property, plant and equipment, net $ 36,106 $ 1,774 Operating lease assets Other assets 6,358 7,936 Total lease assets $ 42,464 $ 9,710 Liabilities Current: Finance lease liabilities Debt and finance lease liabilities, current $ 6,312 $ 367 Operating lease liabilities Accrued expenses and other current liabilities 1,867 1,979 Non-current: Finance lease liabilities Long-term debt and finance lease liabilities, net of current portion 26,395 818 Operating lease liabilities Operating lease liabilities 4,765 6,091 Total lease liabilities $ 39,339 $ 9,255
Schedule of Supplemental Cash Flow Information and Other Lease Information	As of December 31, 2023 2022 Weighted average remaining lease term (years) Finance leases 3.97 4.23 Operating leases 5.66 5.98 Weighted average discount rate Finance leases 9.58 % 4.94 % Operating leases 6.29 % 5.92 % Supplemental cash flow information related to leases is as follows: As of December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow for finance leases $ 753 $ 44 Operating cash flow for operating leases 2,502 1,102 Leased assets obtained in exchange for lease liabilities Finance leases $ 32,820 $ 1,547 Operating leases 706 6,176
Schedule of Fiscal Year Maturity of Finance Lease Liability	Maturities of the Company's lease liabilities are as follows: Years Ended December 31, Finance leases Operating leases Total 2024 $ 9,182 $ 2,186 $ 11,368 2025 7,927 1,364 9,291 2026 15,370 1,287 16,657 2027 4,514 520 5,034 2028 3,051 466 3,517 Thereafter 149 2,197 2,346 Total lease payments $ 40,193 $ 8,020 $ 48,213 Less: imputed interest 7,486 1,388 8,874 Total lease liabilities $ 32,707 $ 6,632 $ 39,339 Less: current portion 6,312 1,867 8,179 Long-term lease liabilities $ 26,395 $ 4,765 $ 31,160
Schedule of Fiscal Year Maturity of Operating Lease Liability	Maturities of the Company's lease liabilities are as follows: Years Ended December 31, Finance leases Operating leases Total 2024 $ 9,182 $ 2,186 $ 11,368 2025 7,927 1,364 9,291 2026 15,370 1,287 16,657 2027 4,514 520 5,034 2028 3,051 466 3,517 Thereafter 149 2,197 2,346 Total lease payments $ 40,193 $ 8,020 $ 48,213 Less: imputed interest 7,486 1,388 8,874 Total lease liabilities $ 32,707 $ 6,632 $ 39,339 Less: current portion 6,312 1,867 8,179 Long-term lease liabilities $ 26,395 $ 4,765 $ 31,160

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023 Gross Carrying Accumulated Net Carrying Licenses: S-WAY Product and Platform license $ 50,000 $ 12,500 $ 37,500 FCPM license 47,181 — 47,181 Other intangibles 1,650 471 1,179 Total intangible assets $ 98,831 $ 12,971 $ 85,860 As of December 31, 2022 Gross Carrying Accumulated Net Carrying Licenses: S-WAY Product and Platform license $ 50,000 $ 5,357 $ 44,643 FCPM license 47,181 — 47,181 Other intangibles 800 151 649 Total intangible assets $ 97,981 $ 5,508 $ 92,473
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated amortization expense for all intangible assets subject to amortization in future years is expected to be: Years Ended December 31, Amortization 2024 $ 12,455 2025 14,140 2026 13,990 2027 13,940 2028 13,940 Thereafter 17,395 Total $ 85,860

INVESTMENTS IN AFFILIATES (Tabl

INVESTMENTS IN AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Investments in unconsolidated affiliates accounted for under the equity method consisted of the following: As of December 31, Ownership as of December 31, 2023 2023 2022 Nikola Iveco Europe GmbH — % $ — $ 4,142 Wabash Valley Resources LLC 20 % 57,062 57,674 Nikola - TA HRS 1, LLC — % — 1,000 $ 57,062 $ 62,816 Equity in net loss of affiliates on the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021 were as follows: Years Ended December 31, 2023 2022 2021 Equity in net loss of affiliates: Nikola Iveco Europe GmbH $ (15,556) $ (20,394) $ (3,900) Wabash Valley Resources LLC (862) (271) 320 Total equity in net loss of affiliates $ (16,418) $ (20,665) $ (3,580)
Schedule of Noncash or Part Noncash Divestitures	During the year ended December 31, 2023, the Company recognized a gain of $70.8 million in gain on divestiture of affiliates consisting of the following: Year Ended December 31, 2023 Cash consideration received $ 35,000 Contingent stock consideration receivable 25,956 Derecognition of investment in affiliate 11,428 Derecognition of cumulative currency translation losses (1,535) Gain on divestiture of affiliate $ 70,849
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The change in fair value of the derivative asset was as follows: Derivative asset Estimated fair value at December 31, 2021 $ — Recognition of derivative asset 1,500 Change in estimated fair value (1,330) Estimated fair value at December 31, 2022 170 Change in estimated fair value (101) Estimated fair value at December 31, 2023 $ 69 During the year ended December 31, 2023, the change in fair value of the contingent stock consideration was as follows: Stock consideration receivable Fair value at June 29, 2023 $ 25,956 Change in fair value 43,981 Receipt of shares for stock consideration (69,937) Fair value at December 31, 2023 $ —

DEBT AND FINANCE LEASE LIABIL_2

DEBT AND FINANCE LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt and Finance Lease Liabilities	A summary of debt and finance lease liabilities as of December 31, 2023 and 2022 is as follows: As of December 31, 2023 2022 Current: Finance lease liabilities $ 6,312 $ 367 Insurance premium financing 1,852 1,999 Promissory notes 699 9,309 Financing obligations 87 — Senior Convertible Notes — 50,000 Debt and finance lease liabilities, current $ 8,950 $ 61,675 Non-current: Toggle Convertible Notes $ 124,061 $ 199,786 Financing obligations 101,470 50,359 Finance lease liabilities 26,395 818 8.25% Convertible Notes 15,047 — Promissory notes 2,306 39,165 Long-term debt and finance lease liabilities, net of current portion $ 269,279 $ 290,128
Schedule of Carrying Values and Estimated Fair Values	The fair values of the following debt obligations are estimated using level 2 fair value inputs, including stock price and risk-free rates. The following table presents the carrying value and estimated fair values: As of December 31, 2023 Carrying Value Fair Value June 2022 Toggle Convertible Notes $ 115,097 $ 100,516 8.25% Convertible Notes 15,047 25,579 June 2023 Toggle Convertible Notes 8,964 10,108 Promissory notes 3,005 2,955 Insurance premium financings 1,852 1,854
Schedule of Interest Rates, Net Carrying Amounts of Debt Component and Interest Expense	The interest rates and payment dates for each of the Toggle Convertible Notes is summarized below: June 2022 Toggle Convertible Notes April 2023 Toggle Convertible Notes June 2023 Toggle Convertible Notes PIK interest rate (per annum) 11.00% 11.00% 8.00% Cash interest rate (per annum) 8.00% 8.00% 8.00% Semi-annual interest payable dates May 31 and November 30 of each year May 31 and November 30 of each year June 30 and December 31 of each year First interest payment date November 30, 2022 May 31, 2023 December 31, 2023 The net carrying amounts of the debt component of the Toggle Convertible Notes as of December 31, 2023 were as follows: June 2022 Toggle Convertible Notes June 2023 Toggle Convertible Notes Principal amount $ 123,478 $ 11,460 Accrued PIK interest 1,170 — Unamortized discount (2,306) (2,496) Unamortized issuance costs (7,245) — Net carrying amount $ 115,097 $ 8,964 The net carrying amounts of the debt component of the Toggle Convertible Notes as of December 31, 2022 were as follows: June 2022 Toggle Convertible Notes Principal amount $ 210,939 Accrued PIK interest 1,998 Unamortized discount (6,443) Unamortized issuance costs (6,708) Net carrying amount $ 199,786 The following table presents the Company's interest expense related to the June 2022 Toggle Convertible Notes: Years Ended December 31, 2023 2022 Contractual interest expense $ 15,744 $ 12,937 Amortization of debt discount and issuance costs 3,333 2,156 Total interest expense $ 19,077 $ 15,093 The following table presents the Company's interest expense related to the April 2023 Toggle Convertible Notes: Year Ended December 31, 2023 Contractual interest expense $ 3,562 Amortization of debt discount and issuance costs 42,242 Total interest expense $ 45,804 The following table presents the Company's interest expense related to the June 2023 Toggle Convertible Notes: Year Ended December 31, 2023 Contractual interest expense $ 460 Amortization of debt discount and issuance costs 454 Total interest expense $ 914 The net carrying amount of the debt component of the 8.25% Convertible Notes as of December 31, 2023 was as follows: 8.25% Convertible Notes Principal amount $ 21,558 Unamortized discount (5,821) Unamortized issuance costs (690) Net carrying amount $ 15,047
Schedule of Reference Price And Floor Price Applicable to Issuance of Senior Convertible Notes	The Reference Price and Floor Price applicable to each issuance of First Purchase Agreement Notes is summarized below: Reference Price Floor Price Series A Notes $ 5.975 $ 0.478 Series B-1 Notes $ 4.050 $ 0.478 Series B-2 Notes $ 2.140 $ 0.478 Series B-3 Notes $ 1.952 $ 0.478 The following table summarizes conversions of the First Purchase Agreement notes during the year ended December 31, 2023: Series A Notes Series B-1 Notes Series B-2 Notes Series B-3 Notes Shares of common stock issued for conversions 21,785,618 21,127,720 21,758,268 22,639,159 Principal balance converted $ 50,000 $ 25,000 $ 15,000 $ 12,075 Make-whole interest converted $ 2,500 $ 1,250 $ 750 $ 604 Average conversion price $ 2.41 $ 1.24 $ 0.72 $ 0.56 Reference Price Floor Price Series A-1 Notes $ 2.940 $ 0.380 Series A-2 Notes $ 2.940 $ 0.380 The following table summarizes conversions of the Second Purchase Agreement Notes during the year ended December 31, 2023: Series A-1 Notes Series A-2 Notes Shares of common stock issued for conversions 128,380,608 35,952,992 Principal balance converted $ 125,000 $ 40,000 Make-whole interest converted $ 6,250 $ 2,000 Average conversion price $ 1.02 $ 1.17
Schedule of Maturities of Long-term Debt	The following table summarizes the long-term debt maturities for each of the next five years and thereafter at December 31, 2023. Years Ended December 31, Total 2024 $ 8,070 2025 8,946 2026 165,600 2027 8,950 2028 8,441 Thereafter 574,450 Total $ 774,457

STOCK-BASED COMPENSATION EXPE_2

STOCK-BASED COMPENSATION EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Option Activity	Changes in stock options are as follows: Options Weighted Weighted Aggregate Outstanding at December 31, 2022 22,470,585 $ 1.31 5.33 $ 23,418 Granted — — Exercised 6,723,629 1.06 Cancelled 705,583 2.45 Outstanding at December 31, 2023 15,041,373 $ 1.37 3.64 $ — Vested and exercisable as of December 31, 2023 15,041,373 $ 1.37 3.64 $ —
RSU Activity	Changes in RSUs are as follows: Number of RSUs Weighted-Average Grant Date Fair Value Balance at December 31, 2022 19,574,800 $ 10.0 Granted 26,365,516 1.3 Released 13,247,573 9.9 Cancelled 7,151,622 5.1 Balance at December 31, 2023 25,541,121 $ 2.1 For the years ended December 31, 2023 2022 Term (years) 2.20 - 2.70 0.80 - 1.80 Stock price $0.82 - $3.40 $5.32 - $9.66 Risk-free interest rate 3.93% - 5.03% 1.66% - 3.50% Expected volatility 99% - 127% 100% The following table summarizes 2023 market-based RSU activity: Number of Market Based RSUs Weighted-Average Grant Date Fair Value Balance at December 31, 2022 2,071,058 $ 24.5 Granted 5,000,000 2.5 Released — — Cancelled 4,071,058 13.1 Balance at December 31, 2023 3,000,000 $ 3.3 As of December 31, 2023, total unrecognized compensation expense and remaining weighted-average recognition period related to outstanding share-based awards were as follows: Unrecognized compensation expense Remaining weighted-average recognition period (years) Market Based RSUs $ 8,151 1.71 RSUs 31,174 2.00 Total unrecognized compensation expense at December 31, 2023 $ 39,325
Stock-based Compensation Expense	The following table presents the impact of stock-based compensation expense on the consolidated statements of operations for the years ending December 31, 2023, 2022 and 2021, respectively: Years Ended December 31, 2023 2022 2021 Selling, general, and administrative $ 51,003 $ 214,717 $ 169,561 Research and development 22,213 34,949 36,150 Cost of revenues 2,175 2,779 — Total stock-based compensation expense $ 75,391 $ 252,445 $ 205,711

DECONSOLIDATION OF SUBSIDIARY (

DECONSOLIDATION OF SUBSIDIARY (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of the Assets and Liabilities to Assignment for the Benefit of Creditors of Loss on Deconsolidation of Subsidiaries and Components of Loss From Discontinued Operations	In connection with the deconsolidation, the Company recognized a loss from deconsolidation of subsidiaries of $24.9 million which is recorded in loss from deconsolidation of discontinued operations in the consolidated statements of operations for the year ended December 31, 2023 and consisted of the following: As of deconsolidation Assets deconsolidated: Cash and cash equivalents $ 213 Accounts receivable, net — Inventory 7,271 Prepaid expenses and other current assets 3,351 Restricted cash and cash equivalents, non-current 1,500 Property, plant and equipment, net 17,555 Intangible assets, net 656 Investments in affiliates 10,000 Other assets 23,364 Total assets deconsolidated $ 63,910 Liabilities deconsolidated: Accounts payable $ 15,583 Accrued expenses and other current liabilities 57,612 Debt and finance lease liabilities, current 1,206 Long-term debt and finance lease liabilities, net of current portion 1,160 Operating lease liabilities 21,664 Warrant liability 8 Other non-current liabilities — Total liabilities deconsolidated 97,233 Net liabilities derecognized from deconsolidation (33,323) Less: intercompany balances derecognized 54,084 Less: cash payments directly related to deconsolidation 2,724 Less: derecognition of goodwill 1,450 Loss from deconsolidation of discontinued operation $ 24,935 As of December 31, 2022, the assets and liabilities of Romeo subject to assignment for the benefit of creditors have been reflected as assets subject to assignment for the benefit of creditors and liabilities subject to assignment for the benefit of creditors on the Company's consolidated balance sheets and consisted of the following: As of December 31, 2022 Assets: Current assets Cash and cash equivalents $ 7,555 Accounts receivable, net 262 Inventory 11,327 Prepaid expenses and other current assets 9,881 Total current assets subject to assignment for the benefit of creditors 29,025 Non-current assets Restricted cash and cash equivalents, non-current 1,500 Property, plant and equipment, net 19,221 Intangible assets, net 621 Investments in affiliates 10,000 Prepayment - Long-term Supply Agreement 44,835 Other assets 23,948 Total non-current assets subject to assignment for the benefit of creditors 100,125 Total assets subject to assignment for the benefit of creditors $ 129,150 Liabilities: Current liabilities Accounts payable $ 24,672 Accrued expenses and other current liabilities 22,990 Debt and finance lease liabilities, current 1,440 Total current liabilities subject to assignment for the benefit of creditors 49,102 Long-term liabilities Long-term debt and finance lease liabilities, net of current portion 1,499 Operating lease liabilities 22,132 Warrant liability 40 Total long-term liabilities subject to assignment for the benefit of creditors 23,671 Total liabilities subject to assignment for the benefit of creditors $ 72,773 The following represents the major components of net loss from discontinued operations presented in the consolidated statements of operations: Years Ended December 31, 2023 2022 Revenues $ 1,665 $ 1,100 Cost of revenues 12,926 19,888 Gross loss (11,261) (18,788) Operating expenses: Research and development 5,673 3,287 Selling, general and administrative 14,937 23,968 Loss on supplier deposits 44,835 — Total operating expenses 65,445 27,255 Loss from operations (76,706) (46,043) Other income (expense), net Interest expense, net (53) (28) Revaluation of warrant liability 33 (29) Loss from discontinued operations $ (76,726) $ (46,100)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of the provision for income taxes for the years ended December 31, 2023, 2022 and 2021 consisted of the following: Years Ended December 31, 2023 2022 2021 Current tax provision Federal $ — $ — $ — State 2 3 1 Total current tax provision 2 3 1 Deferred tax provision Federal 1 — 1 State 9 3 2 Total deferred tax provision 10 3 3 Total income tax provision $ 12 $ 6 $ 4 The reconciliation of taxes at the federal statutory rate to the provision for income taxes for the years ended December 31, 2023, 2022 and 2021 was as follows: Years Ended December 31, 2023 2022 2021 Tax at statutory federal rate $ (181,041) $ (155,064) $ (144,848) State tax, net of federal benefit (70,917) (28,612) (21,212) Stock-based compensation 23,822 47,382 22,825 Section 162(m) limitation 3,551 3,725 2,009 Divestiture of affiliate (11,776) — — Research and development credits, net of uncertain tax position (13,822) (16,503) (12,558) Warrant revaluation (109) (971) (641) SEC Settlement — — 26,250 Change in fair value of convertible debt instruments 60,204 — — Non-deductible interest expense 16,666 — — Other 12,572 5,345 (438) Change in valuation allowance 160,862 144,704 128,617 Total income tax provision $ 12 $ 6 $ 4
Schedule of Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities as of December 31, 2023 and 2022 consisted of the following: As of December 31, 2023 2022 Deferred tax assets: Federal and state income tax credits $ 66,692 $ 52,932 Net operating loss carryforward 397,340 317,393 Start-up costs capitalized 1,655 1,432 Stock-based compensation 4,659 13,599 Finance lease liabilities 32,202 15,017 Accrued purchase of intangible asset — 7,993 Inventory 21,999 2,758 Research expenditures 79,429 49,137 Warranty reserve 23,072 1,938 Other 2,429 — Total deferred tax assets 629,477 462,199 Valuation allowance (597,680) (435,923) Deferred tax assets, net of valuation allowance 31,797 26,276 Deferred tax liabilities: Intangible assets (2,775) (2,363) Finance lease assets (1,860) (1,975) Property, plant and equipment, net (27,184) (21,474) Other — (479) Total deferred tax liabilities (31,819) (26,291) Deferred tax liabilities, net $ (22) $ (15)
Schedule of Income Tax Contingencies	The following table reflect changes in the unrecognized tax benefits: Years Ended December 31, 2023 2022 2021 Gross amount of unrecognized tax benefits as of the beginning of the year $ 18,076 $ 11,661 $ 7,392 Additions based on tax positions related to the current year 4,677 5,550 4,269 Additions based on tax position from prior years 11 865 — Gross amount of unrecognized tax benefits as of the end of the year $ 22,764 $ 18,076 $ 11,661
Schedule Of Net Operating Losses And R&D Credit Carryforwards Valuation Allowances	The increase in the valuation allowance for the year ended December 31, 2023 of $161.8 million as reflected below, is due to increases in the net operating losses and research and development credit carryforwards. Years Ended December 31, 2023 2022 Valuation Allowance as of the beginning of the period $ (435,923) $ (291,222) Current Year Change (161,757) (144,701) Valuation Allowance as of the end of the period $ (597,680) $ (435,923)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Contractual Obligation, Fiscal Year Maturity	The following table presents the Company's commitments and contractual obligations as of December 31, 2023: Payments due by period as of December 31, 2023 Total Less than 1 Year 1 - 3 Years 3 - 5 Years More than 5 Years Unrecorded contractual obligations: Purchase obligations $ 751,526 $ 12,186 $ 218,314 $ 335,876 $ 185,150 Leases executed not yet commenced 29,323 3,668 11,693 11,090 2,872 Recorded contractual obligations: Accrued SEC settlement 84,000 84,000 — — — FCPM License 19,314 13,796 5,518 — — Other accrued obligations 5,000 3,000 2,000 — — $ 889,163 $ 116,650 $ 237,525 $ 346,966 $ 188,022

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
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 for the years ended December 31, 2023, 2022, and 2021. Years Ended December 31, 2023 2022 2021 Numerator: Net loss from continuing operations $ (864,621) $ (738,138) $ (690,438) Net loss from discontinued operations (101,661) (46,100) — Net loss, basic $ (966,282) $ (784,238) $ (690,438) Less: revaluation of warrant liability — — (3,051) Net loss, diluted $ (966,282) $ (784,238) $ (693,489) Denominator: Weighted average shares outstanding, basic 800,030,551 441,800,499 398,655,081 Dilutive effect of common stock issuable from assumed exercise of options — — 129,311 Weighted average shares outstanding, diluted 800,030,551 441,800,499 398,784,392 Basic net loss per share: Net loss from continuing operations $ (1.08) $ (1.67) $ (1.73) Net loss from discontinued operations $ (0.13) $ (0.11) $ — Net loss $ (1.21) $ (1.78) $ (1.73) Diluted net loss per share: Net loss $ (1.21) $ (1.78) $ (1.74)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Years Ended December 31, 2023 2022 2021 Toggle Convertible Notes (on an as-converted basis) 21,539,624 24,123,014 — Senior Convertible Notes (on an as-converted basis) — 22,418,653 — 8.25% Convertible Notes (on an as-converted basis) 23,953,333 — — Outstanding warrants 841,183 1,137,850 — Stock options, including performance stock options 15,041,373 22,470,585 28,996,160 Restricted stock units, including Market Based RSUs 28,541,121 21,645,858 25,496,384 Total 89,916,634 91,795,960 54,492,544

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Thousands	Oct. 14, 2022 USD ($)
Romeo Power, Inc
Business Acquisition [Line Items]
Total purchase consideration	$ 78,587

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 12, 2023 USD ($) day shares

Aug. 04, 2023 shares

Sep. 13, 2021 USD ($) $ / shares

Jun. 22, 2021 USD ($) $ / shares

Jun. 30, 2022 USD ($) day

Sep. 30, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2023 USD ($) business_unit segment dealer $ / shares shares

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Jun. 30, 2023 USD ($)

Apr. 11, 2023 USD ($)

Apr. 04, 2023 $ / shares

Restricted Cash and Cash Equivalents Items [Line Items]

Number of business components | business_unit

2

Dealers individually representing sales in excess of 10% of total revenue | dealer

4

Cash and cash equivalents

$ 497,241

$ 464,715

$ 225,850

$ 497,241

Restricted cash

$ 29,300

88,100

Sale of stock, price per share (in dollars per share) | $ / shares

$ 0.75

$ 1.12

Maximum contractual obligation

$ 889,163

Derivative Liability, Statement of Financial Position [Extensible Enumeration]

Accrued expenses and other current liabilities

Reclassification from mezzanine equity to equity after elimination of put right

5,532

Number of reportable segments | segment

1

Number of operating segments | segment

1

Effect of 10% increase in replacement costs

$ 1,400

Effect of 10% increase in failure rate

1,100

Warranties issued in period - recall campaign

65,778

Incurred recall campaign cost

3,000

Effect of 10% increase in product costs

4,300

Advertising expense

$ 2,000

$ 2,000

1,900

Government Assistance, Statement of Income or Comprehensive Income [Extensible Enumeration]

Other income (expense), net

Other income (expense), net

Foreign currency loss

$ 2,200

$ (1,000)

$ (1,400)

Minimum

Restricted Cash and Cash Equivalents Items [Line Items]

Warranty period

2 years

Maximum

Restricted Cash and Cash Equivalents Items [Line Items]

Warranty period

5 years

Derivative Financial Instruments, Put Right Liabilities | Exercise price

Restricted Cash and Cash Equivalents Items [Line Items]

Measurement input | $ / shares

14.86

Wabash Valley Resources, Amended Membership Interest Purchase Agreement

Restricted Cash and Cash Equivalents Items [Line Items]

Equity method investment, ownership percentage

20%

Sale of stock, consideration received on transaction

$ 10,000

Sale of stock, price per share (in dollars per share) | $ / shares

$ 14.86

First price differential threshold

15 days

Second price differential threshold

5 days

Percentage of closing stock consideration (in percent)

50%

Maximum contractual obligation

$ 10,000

Reclassification from temporary to permanent equity

13,200

Derivative liability

7,700

Reclassification from mezzanine equity to equity after elimination of put right

$ 5,500

Wabash Valley Resources, Amended Membership Interest Purchase Agreement | Put Option

Restricted Cash and Cash Equivalents Items [Line Items]

Fair value of put right

$ 3,200

Wabash Valley Resources, Amended Membership Interest Purchase Agreement | Derivative Financial Instruments, Liabilities

Restricted Cash and Cash Equivalents Items [Line Items]

Settlement of price differential

$ (6,600)

$ (3,400)

Embedded Derivative Financial Instruments

Restricted Cash and Cash Equivalents Items [Line Items]

Derivative, notional amount

$ 9,000

Remaining term

30 months

Trading days during consecutive trading day period | day

20

Period of consecutive trading days | day

40

June 2022 Toggle Convertible Notes | Convertible Notes Payable

Restricted Cash and Cash Equivalents Items [Line Items]

Principal amount

$ 200,000

$ 123,478

$ 210,939

$ 100,000

Stated Interest rate

8%

Paid-in-kind interest rate

11%

Toggle Convertible Notes | Convertible Notes Payable | Conversion Circumstance One

Restricted Cash and Cash Equivalents Items [Line Items]

Threshold trading days | day

20

April 2023 Toggle Convertible Notes | Convertible Notes Payable

Restricted Cash and Cash Equivalents Items [Line Items]

Derivative liability

$ 21,200

Stated Interest rate

8%

Paid-in-kind interest rate

11%

Number of shares issued in debt conversion (in shares) | shares

72,458,789

June 2023 Toggle Convertible Notes | Convertible Notes Payable

Restricted Cash and Cash Equivalents Items [Line Items]

Principal amount

$ 11,460

$ 11,000

Stated Interest rate

8%

Paid-in-kind interest rate

8%

8.25% Convertible Notes

Restricted Cash and Cash Equivalents Items [Line Items]

Stated Interest rate

8.25%

8.25% Convertible Notes | Convertible Notes Payable

Restricted Cash and Cash Equivalents Items [Line Items]

Principal amount

$ 100,000

$ 21,558

Threshold trading days | day

20

Stated Interest rate

8.25%

8.25%

8.25%

Number of shares issued in debt conversion (in shares) | shares

175,000,000

170,491,093

Embedded conversion features derivative liability

$ 47,300

Money Market

Restricted Cash and Cash Equivalents Items [Line Items]

Cash and cash equivalents

$ 29,800

$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 464,715	$ 225,850	$ 497,241
Restricted cash and cash equivalents—current	1,224	10,600	0
Restricted cash and cash equivalents—non-current	28,026	77,459	25,000
Cash, cash equivalents and restricted cash and cash equivalents	$ 493,965	$ 313,909	$ 522,241	$ 849,278

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Derivative asset	$ 69	$ 170
Liabilities
Derivative liability	8,871
Warrant liability	10	381
Senior Convertible Notes		50,000
Money Market
Assets
Cash equivalents—money market	29,839
Level 1
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0
Warrant liability	0	0
Senior Convertible Notes		0
Level 1 | Money Market
Assets
Cash equivalents—money market	29,839
Level 2
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0
Warrant liability	0	0
Senior Convertible Notes		0
Level 2 | Money Market
Assets
Cash equivalents—money market	0
Level 3
Assets
Derivative asset	69	170
Liabilities
Derivative liability	8,871
Warrant liability	10	381
Senior Convertible Notes		$ 50,000
Level 3 | Money Market
Assets
Cash equivalents—money market	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value of Warrants & Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Settlement of derivative liability for conversions	$ (20,992)
Liability Classified Awards, Fair Value Reclassification [Roll Forward]
Liability classified awards as of December 31, 2022	0
Reclassification of share-based payment awards to liability	10,401
Change in fair value	10,591
Reclassification of share-based payment awards to equity	(20,992)
Liability classified awards as of December 31, 2023	0	$ 0
Embedded Derivative Financial Instruments | Derivative Financial Instruments, Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated fair value at beginning of period	0
Recognition of derivative liability	21,180
Change in estimated fair value	220,671
Settlement of derivative liability for conversions	(241,851)
Estimated fair value at end of period	0	0
Liability Classified Awards, Fair Value Reclassification [Roll Forward]
Reclassification of share-based payment awards to equity	(241,851)
Price Differential | Derivative Financial Instruments, Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated fair value at beginning of period	0	4,189	$ 0
Recognition of derivative liability			7,705
Change in estimated fair value		2,399	(104)
Settlement of price differential		6,588	3,412
Estimated fair value at end of period		0	4,189
8.25% Convertible Notes | Derivative Financial Instruments, Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated fair value at beginning of period	0
Recognition of derivative liability	47,250
Change in estimated fair value	10,458
Settlement of derivative liability for conversions	(48,837)
Estimated fair value at end of period	8,871	0
Liability Classified Awards, Fair Value Reclassification [Roll Forward]
Reclassification of share-based payment awards to equity	(48,837)
Derivative Financial Instruments, Assets | Embedded Derivative Financial Instruments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value - beginning of the period	170	0
Recognition of derivative asset		1,500
Change in fair value	(101)	(1,330)
Fair value - ending balance	$ 69	$ 170	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Change in Fair Value Of Warrant Liability (Details) - Warrant Liability - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Estimated fair value at beginning of period	$ 381	$ 4,284	$ 7,335
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	(371)	(3,903)	(3,051)
Estimated fair value at end of period	$ 10	$ 381	$ 4,284

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Unobservable Inputs Redeemable Convertible Preferred Stock Warrant Liability (Details)	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Term	1 year 5 months 1 day	2 years 5 months 1 day
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.88	2.16
Exercise price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	11.50	11.50
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	1	1
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0451	0.0428
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Measurement Inputs of Derivative Liability (Details)	Dec. 31, 2023 $ / shares	Jun. 01, 2022 $ / shares	Jun. 22, 2021 $ / shares
Stock price | Put Right
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, liabilities			17.32
Stock price | Embedded Derivative Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	1.09	3.40
Stock price | 8.25% Convertible Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.72	0.91
Exercise price | Put Right
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, liabilities			14.86
Exercise price | Embedded Derivative Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	1.46	1.48
Exercise price | 8.25% Convertible Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.90
Volatility | Put Right
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, liabilities			0.95
Volatility | Embedded Derivative Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.475	0.70
Risk-free rate | Put Right
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, liabilities			0.0010
Risk-free rate | Embedded Derivative Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0
Risk free rate | Embedded Derivative Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.0376	0.0458
Risk free rate | 8.25% Convertible Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.0397	0.0442
Credit spread | Embedded Derivative Financial Instruments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.149	0.201
Credit spread | 8.25% Convertible Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, assets	0.1420	0.1510

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment Useful Lives (Details)	Dec. 31, 2023
Computers
Property, Plant and Equipment [Line Items]
Useful life	3 years
Demo trucks
Property, Plant and Equipment [Line Items]
Useful life	2 years
Vehicles
Property, Plant and Equipment [Line Items]
Useful life	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life	7 years
Minimum | Software
Property, Plant and Equipment [Line Items]
Useful life	3 years
Minimum | Equipment
Property, Plant and Equipment [Line Items]
Useful life	3 years
Minimum | Buildings
Property, Plant and Equipment [Line Items]
Useful life	20 years
Maximum | Software
Property, Plant and Equipment [Line Items]
Useful life	5 years
Maximum | Equipment
Property, Plant and Equipment [Line Items]
Useful life	20 years
Maximum | Buildings
Property, Plant and Equipment [Line Items]
Useful life	40 years

SUMMARY OF SIGNIFICANT ACCOU_12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Warranty Accrual (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 7,788	$ 0
Warranties issued in period - product warranty	11,888	8,079
Warranty costs incurred	(3,886)	(291)
Warranties issued in period - recall campaign	65,778
Net changes in liability for pre-existing warranties	(2,622)
Ending balance	$ 78,946	$ 7,788

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Oct. 14, 2022	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)		$ 0.0001	$ 0.0001	$ 0.0001
Goodwill		$ 6,688	$ 6,688	$ 5,238
Romeo Power, Inc
Subsidiary, Sale of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)	$ 0.0001
Shares transferred per share of stock acquired (in shares)	0.1186	0.1186
Goodwill	$ 1,500
Romeo Power, Inc | Selling, general, and administrative
Subsidiary, Sale of Stock [Line Items]
Acquisition related costs			7,300
Romeo Power, Inc | Selling, general, and administrative | Discontinued Operations, Disposed of by Means Other than Sale
Subsidiary, Sale of Stock [Line Items]
Acquisition related costs			$ 7,300

BUSINESS COMBINATIONS - Schedul

BUSINESS COMBINATIONS - Schedule of Consideration for the Acquisition of Romeo (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions		12 Months Ended
	Oct. 14, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Proceeds from insurance premium financing		$ 5,223	$ 6,637	$ 0
Prepaid expenses and other current assets		$ 25,911	$ 27,943
Romeo Power, Inc
Business Acquisition [Line Items]
Fair value of Nikola common stock issued to Romeo shareholders	$ 67,535
Settlement of pre-existing relationships in the form of loan forgiveness	27,923
Settlement of pre-existing relationships in the form of accounts payable	(18,216)
Fair value of outstanding stock compensation awards attributable to pre-acquisition services	1,345
Business Combination, Consideration Transferred, Total	$ 78,587
Issued or issuable, number of shares (in shares)	22.1
Price per share of common stock acquired (in dollars per share)	$ 3.06
Prepaid expenses and other current assets	$ 15,300
Romeo Power, Inc | Nikola Corporation | Senior Loans
Business Acquisition [Line Items]
Principal amount	30,000
Incremental increase	20,000
Proceeds from insurance premium financing	12,500
Interest receivable	$ 100
Romeo Power, Inc | Nikola Corporation | Senior Loans | Secured Overnight Financing Rate (SOFR)
Business Acquisition [Line Items]
Basis spread on variable rate	8%

BALANCE SHEET COMPONENTS - Inve

BALANCE SHEET COMPONENTS - Inventory (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 32,889	$ 52,442
Work-in-process	15,486	9,646
Finished goods	8,206	47,677
Service parts	6,007	2,105
Total inventory	62,588	111,870
Inventory write-downs	$ 71,218	$ 19,705	$ 4,927

BALANCE SHEET COMPONENTS - Prep

BALANCE SHEET COMPONENTS - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 6,152	$ 5,333
Non-trade receivables	5,570	6,064
Inventory deposits	4,843	415
Holdback receivable	3,655	0
Prepaid insurance premiums	2,148	3,611
Deposits	1,643	3,917
Prepaid software	1,421	1,015
Deferred implementation costs	479	2,101
Headquarters sale agreement receivable	0	5,487
Prepaid expenses and other current assets	$ 25,911	$ 27,943

BALANCE SHEET COMPONENTS - Narr

BALANCE SHEET COMPONENTS - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 31, 2023	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) installment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Inventory write-downs			$ 71,218	$ 19,705	$ 4,927
Amortization of deferred implementation costs			$ 500	$ 2,800	0
Government Assistance, Current, Statement of Financial Position [Extensible Enumeration]			Prepaid expenses and other current assets	Prepaid expenses and other current assets
Depreciation expense			$ 28,900	$ 14,400	8,200
Settlement liabilities			91,330	90,000
Inventory			62,588	111,870
Regulatory and Governmental Investigations
Property, Plant and Equipment [Line Items]
Settlement liabilities			84,000
Lion Electric Matter
Property, Plant and Equipment [Line Items]
Settlement liabilities			1,800
Consulting Services
Property, Plant and Equipment [Line Items]
Settlement liabilities			3,000
Insurance Claims
Property, Plant and Equipment [Line Items]
Settlement liabilities			2,000
Fastener Settlement
Property, Plant and Equipment [Line Items]
Settlement liabilities			600
Sale
Property, Plant and Equipment [Line Items]
Holdback from sale of subsidiary		$ 3,700
Sale | Phoenix Hydrogen Hub Project
Property, Plant and Equipment [Line Items]
Percentage of subsidiary divested	100%
Net proceeds		$ 20,700
Arizona Qualified Facility Tax Credit (“QFTC”)
Property, Plant and Equipment [Line Items]
Government grant income			2,700	1,200	$ 2,400
Government grants receivable, current			2,000	$ 1,200
Phoenix, Arizona facility
Property, Plant and Equipment [Line Items]
Qualify tax credit maximum, amount			$ 6,100
Number of installments | installment			5
Qualify tax credit instalment, amount			$ 1,200
Coolidge, Arizona Facility
Property, Plant and Equipment [Line Items]
Qualify tax credit maximum, amount			$ 3,700
Number of installments | installment			5
Qualify tax credit instalment, amount			$ 700
BEV inventory
Property, Plant and Equipment [Line Items]
Inventory write-downs			$ 45,700

BALANCE SHEET COMPONENTS - Prop

BALANCE SHEET COMPONENTS - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Finance lease assets	$ 37,504	$ 2,193
Property, plant and equipment, gross	547,365	448,618
Less: accumulated depreciation and amortization	(43,949)	(30,833)
Total property, plant and equipment, net	503,416	417,785
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment	239,918	127,797
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment	135,994	209,187
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	67,657	35,257
Tooling
Property, Plant and Equipment [Line Items]
Property and equipment	39,389	17,693
Software
Property, Plant and Equipment [Line Items]
Property and equipment	8,649	8,568
Land
Property, Plant and Equipment [Line Items]
Property and equipment	7,957	24,762
Other
Property, Plant and Equipment [Line Items]
Property and equipment	4,926	3,501
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	3,100	2,953
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	1,483	1,492
Demo vehicles
Property, Plant and Equipment [Line Items]
Property and equipment	$ 788	$ 15,215

BALANCE SHEET COMPONENTS - Accr

BALANCE SHEET COMPONENTS - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Settlement liabilities	$ 91,330	$ 90,000
Warranty liability, current	65,703	1,484
Accrued purchase of intangible asset	13,796	32,126
Derivative liability	8,871	0
Inventory received not yet invoiced	8,642	18,167
Other accrued expenses	5,137	2,152
Accrued outsourced engineering services	4,207	8,056
Accrued payroll and payroll related expenses	3,254	8,298
Accrued purchases of property, plant and equipment	2,458	3,587
Operating lease liabilities, current	1,867	1,979
Accrued legal expenses	1,708	2,041
Accrued Equity Distribution Agreement Fees	49	1,681
Supply agreement revision commitment	0	10,000
Accrued expenses and other current liabilities	$ 207,022	$ 179,571

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating lease cost:
Lease cost	$ 2,622	$ 1,182	$ 130
Variable lease cost	219	212	26
Total operating lease cost	2,841	1,394	156
Short-term lease cost	3,617	1,744	1,155
Finance lease cost:
Amortization of right of use assets	979	342	2,758
Interest on lease liabilities	753	44	789
Variable lease cost	44	55	738
Total finance lease cost	1,776	441	4,285
Total lease cost	$ 8,234	$ 3,579	$ 5,596

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Finance lease assets, net	$ 36,106	$ 1,774
Operating lease assets	6,358	7,936
Total lease assets	42,464	9,710
Current:
Finance lease liabilities	6,312	367
Operating lease liabilities, current	1,867	1,979
Non-current:
Finance lease liabilities	26,395	818
Operating lease liabilities	4,765	6,091
Total lease liabilities	$ 39,339	$ 9,255
Property, plant and equipment, net	Property, plant and equipment, net	Property, plant and equipment, net
Other assets	Other assets	Other assets
Debt and finance lease liabilities, current	Debt and finance lease liabilities, current (including zero and $50.0 million measured at fair value, respectively)	Debt and finance lease liabilities, current (including zero and $50.0 million measured at fair value, respectively)
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Long-term debt and finance lease liabilities, net of current portion	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation

LEASES - Terms and Discount Rat

LEASES - Terms and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
Weighted average remaining lease term (years)
Finance leases	3 years 11 months 19 days	4 years 2 months 23 days
Operating leases	5 years 7 months 28 days	5 years 11 months 23 days
Weighted average discount rate
Finance leases	9.58%	4.94%
Operating leases	6.29%	5.92%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow for finance leases	$ 753	$ 44
Operating cash flow for operating leases	2,502	1,102
Leased assets obtained in exchange for lease liabilities
Finance leases	32,820	1,547	$ 646
Operating leases	$ 706	$ 6,176

LEASES - Maturity of Lease Liab

LEASES - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finance leases
2024	$ 9,182
2025	7,927
2026	15,370
2027	4,514
2028	3,051
Thereafter	149
Total lease payments	40,193
Less: imputed interest	7,486
Total lease liabilities	32,707
Less: current portion	6,312	$ 367
Long-term lease liabilities	26,395	818
Operating leases
2024	2,186
2025	1,364
2026	1,287
2027	520
2028	466
Thereafter	2,197
Total lease payments	8,020
Less: imputed interest	1,388
Total lease liabilities	6,632
Less: current portion	1,867	1,979
Long-term lease liabilities	4,765	6,091
Total
2024	11,368
2025	9,291
2026	16,657
2027	5,034
2028	3,517
Thereafter	2,346
Total lease payments	48,213
Less: imputed interest	8,874
Total lease liabilities	39,339	$ 9,255
Less: current portion	8,179
Long-term lease liabilities	$ 31,160

INTANGIBLE ASSETS, NET - Schedu

INTANGIBLE ASSETS, NET - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 12,971	$ 5,508
Net Carrying Amount	85,860
Gross Carrying Amount	98,831	97,981
Total intangible assets	85,860	92,473
Licenses:
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		47,181
Accumulated Amortization		0
Net Carrying Amount		47,181
S-WAY Product and Platform license
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	50,000	50,000
Accumulated Amortization	12,500	5,357
Net Carrying Amount	37,500	44,643
FCPM License
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	47,181
Accumulated Amortization	0
Net Carrying Amount	47,181
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,650	800
Accumulated Amortization	471	151
Net Carrying Amount	$ 1,179	$ 649

INTANGIBLE ASSETS, NET - Narrat

INTANGIBLE ASSETS, NET - Narrative (Details) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) installment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 7,400	$ 5,500	$ 0
Acquired intangible assets included in liabilities	0	0	47,181
Accrued expenses and other current liabilities	207,022	179,571
Other long-term liabilities	21,512	6,684
S-WAY Product and Platform license
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 7,100	5,400
S-WAY Product and Platform license | Series D Preferred Stock
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years				7 years
FCPM License
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years				7 years
Acquired intangible assets included in liabilities			$ 47,200	€ 40
Accrued expenses and other current liabilities	$ 13,800	32,100			€ 12.5	€ 30
Other long-term liabilities	$ 5,500	$ 0			€ 5
Number of installment payments | installment	2

INTANGIBLE ASSETS, NET - Amorti

INTANGIBLE ASSETS, NET - Amortization of Intangible Assets (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 12,455
2025	14,140
2026	13,990
2027	13,940
2028	13,940
Thereafter	17,395
Net Carrying Amount	$ 85,860

INVESTMENTS IN AFFILIATES - Sch

INVESTMENTS IN AFFILIATES - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 22, 2021	Apr. 30, 2020
Schedule of Equity Method Investments [Line Items]
Investment in affiliates	$ 57,062	$ 62,816
Equity in net loss of affiliates	$ (16,418)	(20,665)	$ (3,580)
Nikola Iveco Europe GmbH
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	0%				50%
Investment in affiliates	$ 0	4,142
Equity in net loss of affiliates	$ (15,556)	(20,394)	(3,900)
Wabash Valley Resources LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	20%
Investment in affiliates	$ 57,062	57,674		$ 57,400
Equity in net loss of affiliates	$ (862)	$ (271)	$ 320
Nikola - TA HRS 1, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	0%	50%
Investment in affiliates	$ 0	$ 1,000

INVESTMENTS IN AFFILIATES - Nar

INVESTMENTS IN AFFILIATES - Narrative (Details) $ / shares in Units, € in Millions			12 Months Ended
	Jun. 29, 2023 USD ($) shares	Jun. 22, 2021 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 USD ($) shares	Apr. 04, 2023 $ / shares	Apr. 30, 2020
Schedule of Equity Method Investments [Line Items]
Gain on divestiture of affiliate			$ 70,849,000	$ 0		$ 0
Payments to acquire equity method investments			$ 250,000	23,027,000		$ 25,000,000
Sale of stock, price per share (in dollars per share) | $ / shares			$ 0.75				$ 1.12
Investment in affiliates			$ 57,062,000	$ 62,816,000
Common Stock
Schedule of Equity Method Investments [Line Items]
Common stock issued for investment in affiliates (in shares) | shares				22,070,228	22,070,228	1,682,367
Sale | Nikola Iveco Europe GmbH
Schedule of Equity Method Investments [Line Items]
Ownership percentage in disposed asset	50%
Consideration received	$ 35,000,000		35,000,000
Derecognition of cumulative currency translation losses			1,535,000
Gain on divestiture of affiliate			$ 70,849,000
Sale | Nikola Iveco Europe GmbH | Common Stock
Schedule of Equity Method Investments [Line Items]
Shares received (in shares) | shares	20,600,000
Nikola Iveco Europe GmbH
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			0%					50%
Equity method investment, volume and profit allocation percentage								50%
Payments to acquire joint venture			$ 0	$ 21,800,000	€ 20	$ 0
Investment in affiliates			$ 0	4,142,000
Nikola Iveco Europe GmbH | Iveco
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage								50%
Equity method investment, volume and profit allocation percentage								50%
Wabash Valley Resources LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			20%
Maximum exposure			$ 57,600,000
Equity interest and loans			500,000
Payments to acquire equity method investments		$ 25,000,000
Common stock issued for investment in affiliates (in shares) | shares		1,682,367
Sale of stock, price per share (in dollars per share) | $ / shares		$ 14.86
Equity interest issued and issuable (in shares)		$ 32,400,000
Investment in affiliates		57,400,000	$ 57,062,000	$ 57,674,000
Equity method investment, difference between carrying amount and underlying equity		$ 55,500,000
Nikola - TA HRS 1, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			0%	50%
Investment in affiliates			$ 0	$ 1,000,000
Nikola - TA HRS 1, LLC | Variable Interest Entity, Not Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Payments to acquire joint venture				$ 1,000,000

INVESTMENTS IN AFFILIATES - Div

INVESTMENTS IN AFFILIATES - Divestiture of Affiliates (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Gain on divestiture of affiliate		$ 70,849	$ 0	$ 0
Sale | Nikola Iveco Europe GmbH
Schedule of Equity Method Investments [Line Items]
Cash consideration received	$ 35,000	35,000
Contingent stock consideration receivable		25,956
Derecognition of investment in affiliate		11,428
Derecognition of cumulative currency translation losses		(1,535)
Gain on divestiture of affiliate		$ 70,849

INVESTMENTS IN AFFILIATES - Cha

INVESTMENTS IN AFFILIATES - Changes in Fair Value of the Contingent Stock Consideration (Details) - Contingent Stock Consideration Receivable $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value	$ 43,981
Receipt of shares for stock consideration	(69,937)
Fair value - ending balance	$ 0

DEBT AND FINANCE LEASE LIABIL_3

DEBT AND FINANCE LEASE LIABILITIES - Debt and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 12, 2023	Jun. 30, 2023	Apr. 11, 2023	Dec. 31, 2022	Jun. 30, 2022	Jun. 07, 2022	May 10, 2022
Current:
Finance lease liabilities	$ 6,312				$ 367
Debt and finance lease liabilities, current	8,950				61,675
Non-current:
Finance lease liabilities	26,395				818
Long-term debt and finance lease liabilities, net of current portion	269,279				290,128
Notes Payable, Other Payables
Non-current:
Long-term debt	2,306				39,165
Financing Obligations
Current:
Current maturities of long-term debt	87				0
Non-current:
Long-term debt	101,470				50,359
Principal amount								$ 38,300
Insurance premium financing | Notes Payable, Other Payables
Current:
Current maturities of long-term debt	1,852				1,999
Non-current:
Principal amount	6,600
Promissory notes | Notes Payable, Other Payables
Current:
Current maturities of long-term debt	699				9,309
Non-current:
Principal amount							$ 50,000
Senior Convertible Notes | Convertible Notes Payable
Current:
Current maturities of long-term debt	0				50,000
Toggle Convertible Notes | Convertible Notes Payable
Non-current:
Long-term debt	124,061				199,786
8.25% Convertible Notes | Convertible Notes Payable
Non-current:
Long-term debt	15,047				0
Principal amount	21,558	$ 100,000
June 2022 Toggle Convertible Notes | Convertible Notes Payable
Non-current:
Principal amount	123,478			$ 100,000	$ 210,939	$ 200,000
June 2023 Toggle Convertible Notes | Convertible Notes Payable
Non-current:
Principal amount	$ 11,460		$ 11,000

DEBT AND FINANCE LEASE LIABIL_4

DEBT AND FINANCE LEASE LIABILITIES - Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Convertible Notes Payable | June 2022 Toggle Convertible Notes
Debt Instrument [Line Items]
Carrying Value	$ 115,097	$ 199,786
Fair Value	100,516
Convertible Notes Payable | 8.25% Convertible Notes
Debt Instrument [Line Items]
Carrying Value	15,047
Fair Value	25,579
Convertible Notes Payable | June 2023 Toggle Convertible Notes
Debt Instrument [Line Items]
Carrying Value	8,964
Fair Value	10,108
Notes Payable, Other Payables | Promissory notes
Debt Instrument [Line Items]
Carrying Value	3,005
Fair Value	2,955
Notes Payable, Other Payables | Insurance premium financing
Debt Instrument [Line Items]
Carrying Value	1,852
Fair Value	$ 1,854

DEBT AND FINANCE LEASE LIABIL_5

DEBT AND FINANCE LEASE LIABILITIES - Narrative (Details)

1 Months Ended

3 Months Ended

12 Months Ended

20 Months Ended

Dec. 12, 2023 USD ($) day $ / shares shares

Aug. 21, 2023 USD ($) shares

Aug. 04, 2023 shares

Jun. 29, 2023 USD ($)

Dec. 30, 2022 USD ($) day $ / shares

Aug. 04, 2022 USD ($)

Jun. 07, 2022 USD ($)

Jun. 01, 2022 day $ / shares

Jun. 30, 2022 USD ($) day

Feb. 28, 2019

Sep. 30, 2023 USD ($)

Jun. 30, 2022 USD ($)

Dec. 31, 2021 USD ($)

Mar. 31, 2021 USD ($)

Dec. 31, 2023 USD ($) day shares

Dec. 31, 2022 USD ($) shares

Dec. 31, 2021 USD ($)

Dec. 31, 2023 USD ($) shares

Sep. 22, 2023 USD ($)

Aug. 03, 2023 shares

Aug. 02, 2023 shares

Jun. 30, 2023 USD ($)

May 25, 2023 USD ($)

May 17, 2023 USD ($)

May 10, 2023 USD ($)

Apr. 11, 2023 USD ($) $ / shares

Sep. 30, 2022 USD ($)

May 10, 2022 USD ($) extension_option

Jan. 31, 2018 USD ($)

Debt Instrument [Line Items]

Common stock, shares authorized (in shares) | shares

1,600,000,000

800,000,000

1,600,000,000

1,600,000,000

800,000,000

Loss on debt extinguishment

$ 31,025,000

$ 0

$ 0

Headquarters, Phoenix, Arizona

Debt Instrument [Line Items]

Consideration received

$ 52,500,000

Contingent consideration asset

$ 13,100,000

Lease term

20 years

Number of options to extend | extension_option

4

Renewal term

7 years

Number of extension options reasonably certain of being exercised | extension_option

1

Coolidge, AZ Land

Debt Instrument [Line Items]

Consideration received

$ 50,400,000

Lease term

99 years

Number of anniversary

50 years

Percentage of increase in repurchase amount of asset on basis of purchase price

300%

Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 1,200,000

0

$ 0

$ 600,000

Standby Letters of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 12,500,000

$ 12,500,000

$ 25,000,000

25,000,000

Reduced amount of letter of credit

$ 15,000,000

13,100,000

15,000,000

13,100,000

Convertible Notes Payable

Debt Instrument [Line Items]

Loss on debt extinguishment

20,400,000

Financing Obligations

Debt Instrument [Line Items]

Principal amount

$ 38,300,000

Unamortized issuance costs

1,100,000

Proceeds from debt, net of discount and issuance costs

12,000,000

Headquarters sale agreement receivable

0

5,500,000

0

Interest expense

3,600,000

2,300,000

Term Loan | Notes Payable to Banks

Debt Instrument [Line Items]

Principal amount

$ 4,100,000

Stated Interest rate

3%

2.43%

Extension term

1 year

Repayments of long-term debt

$ 4,100,000

June 2022 Toggle Convertible Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 200,000,000

$ 200,000,000

123,478,000

210,939,000

$ 123,478,000

$ 100,000,000

Stated Interest rate

8%

8%

Conversion ratio

0.6868132

Conversion price (in dollars per share) | $ / shares

$ 8.74

Proceeds from debt, net of issuance costs paid and accrued

$ 183,200,000

Effective interest rate percentage

13.90%

13.90%

Unamortized issuance costs

$ 7,245,000

6,708,000

$ 7,245,000

Interest expense

19,077,000

15,093,000

June 2023 Toggle Convertible Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 11,460,000

$ 11,460,000

$ 11,000,000

Stated Interest rate

8%

Initial conversion rate numerator

674.4258

Effective interest rate percentage

17.24%

17.24%

Unamortized issuance costs

$ 0

$ 0

Interest expense

914,000

April 2023 Toggle Convertible Notes

Debt Instrument [Line Items]

Converted instrument, amount

(115,152,000)

0

0

April 2023 Toggle Convertible Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Stated Interest rate

8%

Conversion price (in dollars per share) | $ / shares

$ 1.46

Derivative liability

$ 21,200,000

Number of shares issued in debt conversion (in shares) | shares

72,458,789

Interest expense

45,804,000

Toggle Convertible Notes

Debt Instrument [Line Items]

Secured debt limit per restrictive covenants

$ 500,000,000

Toggle Convertible Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Convertible notes redemption day | day

26

Toggle Convertible Notes | Convertible Notes Payable | Minimum

Debt Instrument [Line Items]

Redemption price

100%

Toggle Convertible Notes | Convertible Notes Payable | Conversion Circumstance One

Debt Instrument [Line Items]

Threshold trading days | day

20

Threshold consecutive trading days | day

30

Toggle Convertible Notes | Convertible Notes Payable | Conversion Circumstance One | Maximum

Debt Instrument [Line Items]

Threshold of stock price trigger (in percent)

130%

Toggle Convertible Notes | Convertible Notes Payable | Conversion Circumstance Two

Debt Instrument [Line Items]

Trading days require during a period of consecutive trading days | day

5

Period of consecutive trading days | day

10

Toggle Convertible Notes | Convertible Notes Payable | Conversion Circumstance Two | Minimum

Debt Instrument [Line Items]

Threshold of stock price trigger (in percent)

98%

First Purchase Agreement

Debt Instrument [Line Items]

Convertible notes payable

$ 0

50,000,000

$ 0

First Purchase Agreement | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 12,100,000

$ 15,000,000

Stated Interest rate

5%

Threshold trading days | day

3

Redemption price

115%

Maximum principal amount of convertible notes

$ 125,000,000

$ 25,000,000

Percentage of volume weighted average price

95%

Maximum equity interest allowed

0.0499

Maximum equity interest allowed after notice

0.0999

Number of days notice required | day

61

Series A Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 50,000,000

Number of shares issued in debt conversion (in shares) | shares

21,785,618

Series A Notes | Convertible Notes Payable | Make-whole interest converted

Debt Instrument [Line Items]

Converted instrument, amount

$ (2,500,000)

Second Purchase Agreement | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 160,000,000

Stated Interest rate

5%

Conversion price (in dollars per share) | $ / shares

$ 1

Number of shares issued in debt conversion (in shares) | shares

171,179,577

Maximum principal amount of convertible notes

$ 325,000,000

Exercisable anniversary period

18 months

First Purchase Agreement - Subsequent Placement | Convertible Notes Payable

Debt Instrument [Line Items]

Redemption price

100%

Debt instrument, term

1 year

Series A-1 Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 125,000,000

Number of shares issued in debt conversion (in shares) | shares

128,380,608

Series A-1 Notes | Convertible Notes Payable | Make-whole interest converted

Debt Instrument [Line Items]

Converted instrument, amount

$ (6,250,000)

Series A-2 Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 40,000,000

Number of shares issued in debt conversion (in shares) | shares

35,952,992

Series A-2 Notes | Convertible Notes Payable | Make-whole interest converted

Debt Instrument [Line Items]

Converted instrument, amount

$ (2,000,000)

Second Purchase Agreement - Subsequent Placement | Convertible Notes Payable

Debt Instrument [Line Items]

Debt instrument, term

1 year

8.25% Convertible Notes

Debt Instrument [Line Items]

Stated Interest rate

8.25%

8.25%

Converted instrument, amount

$ (131,361,000)

$ 0

$ 0

8.25% Convertible Notes | Make-whole interest converted

Debt Instrument [Line Items]

Converted instrument, amount

(107,100,000)

8.25% Convertible Notes | Convertible Notes Payable

Debt Instrument [Line Items]

Principal amount

$ 100,000,000

$ 21,558,000

$ 21,558,000

Stated Interest rate

8.25%

8.25%

8.25%

8.25%

Conversion ratio

1.11111

Conversion price (in dollars per share) | $ / shares

$ 0.90

Coupon Make-Whole Premium

0.50%

Threshold trading days | day

20

Threshold consecutive trading days | day

30

Threshold of stock price trigger (in percent)

175%

Proceeds from debt, net of issuance costs paid and accrued

$ 122,100,000

Loss on debt extinguishment

$ 10,700,000

Number of shares issued in debt conversion (in shares) | shares

175,000,000

170,491,093

Waived cure period

30 days

Waived not cure period

60 days

Payment default trigger

$ 30,000,000

Payment default cure period

30 days

Judgements default trigger

$ 30,000,000

Judgement default cure period

60 days

Noteholder default notice ownership percent

25%

Default special interest period

180 days

Embedded conversion features derivative liability

$ 47,300,000

Unamortized issuance costs

$ 5,600,000

690,000

$ 690,000

Accrued issuance costs

300,000

Aggregate principal amount converted

153,400,000

153,400,000

8.25% Convertible Notes | Convertible Notes Payable | Interest Period 1-90 Days

Debt Instrument [Line Items]

Default interest rate increase

0.25%

8.25% Convertible Notes | Convertible Notes Payable | Interest Period 91-180 Days

Debt Instrument [Line Items]

Default interest rate increase

0.50%

8.25% Convertible Notes | Convertible Notes Payable | Make-whole interest converted

Debt Instrument [Line Items]

Converted instrument, amount

(35,200,000)

Coolidge Sale Agreement | Financing Obligations

Debt Instrument [Line Items]

Principal amount

$ 49,400,000

Unamortized issuance costs

$ 1,000,000

Interest expense

2,600,000

Promissory notes | Notes Payable, Other Payables

Debt Instrument [Line Items]

Principal amount

$ 25,000,000

Stated Interest rate

4%

4%

Debt instrument, term

60 months

Interest expense

$ 400,000

Term of interest only payments

12 months

Amortization period

25 years

Unamortized debt issuance expense

$ 300,000

Collateralized Promissory Notes | Notes Payable, Other Payables

Debt Instrument [Line Items]

Principal amount

$ 50,000,000

Stated Interest rate

4.26%

Debt instrument, term

60 months

Interest expense

1,100,000

1,100,000

Repayments of debt

$ 39,300,000

Second Collateralized Note | Notes Payable, Other Payables

Debt Instrument [Line Items]

Principal amount

$ 4,000,000

Stated Interest rate

7%

Debt instrument, term

60 months

Interest expense

200,000

100,000

Insurance premium financing | Notes Payable, Other Payables

Debt Instrument [Line Items]

Principal amount

$ 6,600,000

$ 6,600,000

Stated Interest rate

2.95%

2.95%

Additional Insurance Premium Financing Agreement | Notes Payable, Other Payables

Debt Instrument [Line Items]

Principal amount

$ 1,200,000

$ 1,200,000

$ 3,900,000

Stated Interest rate

6.64%

Interest expense

$ 100,000

$ 100,000

DEBT AND FINANCE LEASE LIABIL_6

DEBT AND FINANCE LEASE LIABILITIES - Interest Rates and Payment Dates of Convertible Notes (Details) - Convertible Notes Payable	Jun. 30, 2023	Apr. 11, 2023	Jun. 30, 2022
June 2022 Toggle Convertible Notes
Debt Instrument [Line Items]
PIK interest rate (per annum)			11%
Cash interest rate (per annum)			8%
April 2023 Toggle Convertible Notes
Debt Instrument [Line Items]
PIK interest rate (per annum)		11%
Cash interest rate (per annum)		8%
June 2023 Toggle Convertible Notes
Debt Instrument [Line Items]
PIK interest rate (per annum)	8%
Cash interest rate (per annum)	8%

DEBT AND FINANCE LEASE LIABIL_7

DEBT AND FINANCE LEASE LIABILITIES - Net Carrying Amounts of Debt (Details) - Convertible Notes Payable - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 12, 2023	Jun. 30, 2023	Apr. 11, 2023	Dec. 31, 2022	Jun. 30, 2022
June 2022 Toggle Convertible Notes
Debt Instrument [Line Items]
Principal amount	$ 123,478			$ 100,000	$ 210,939	$ 200,000
Accrued PIK interest	1,170				1,998
Unamortized discount	(2,306)				(6,443)
Unamortized issuance costs	(7,245)				(6,708)
Net carrying amount	115,097				$ 199,786
June 2023 Toggle Convertible Notes
Debt Instrument [Line Items]
Principal amount	11,460		$ 11,000
Accrued PIK interest	0
Unamortized discount	(2,496)
Unamortized issuance costs	0
Net carrying amount	8,964
8.25% Convertible Notes
Debt Instrument [Line Items]
Principal amount	21,558	$ 100,000
Unamortized discount	(5,821)
Unamortized issuance costs	(690)	$ (5,600)
Net carrying amount	$ 15,047

DEBT AND FINANCE LEASE LIABIL_8

DEBT AND FINANCE LEASE LIABILITIES - Interest Expense (Details) - Convertible Notes Payable - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
June 2022 Toggle Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	$ 15,744	$ 12,937
Amortization of debt discount and issuance costs	3,333	2,156
Total interest expense	19,077	$ 15,093
April 2023 Toggle Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	3,562
Amortization of debt discount and issuance costs	42,242
Total interest expense	45,804
June 2023 Toggle Convertible Notes
Debt Instrument [Line Items]
Contractual interest expense	460
Amortization of debt discount and issuance costs	454
Total interest expense	$ 914

DEBT AND FINANCE LEASE LIABIL_9

DEBT AND FINANCE LEASE LIABILITIES - Reference Price And Floor Price Applicable to Issuance of Senior Convertible Notes (Details) - Convertible Notes Payable - $ / shares	Dec. 31, 2023	Dec. 30, 2022
Series A Notes
Debt Instrument [Line Items]
Reference Price (in dollars per share)		$ 5.975
Floor Price (in dollars per share)		$ 0.478
Series B-1 Notes
Debt Instrument [Line Items]
Reference Price (in dollars per share)	$ 4.050
Floor Price (in dollars per share)	0.478
Series B-2 Notes
Debt Instrument [Line Items]
Reference Price (in dollars per share)	2.140
Floor Price (in dollars per share)	0.478
Series B-3 Notes
Debt Instrument [Line Items]
Reference Price (in dollars per share)	1.952
Floor Price (in dollars per share)	0.478
Series A-1 Notes
Debt Instrument [Line Items]
Reference Price (in dollars per share)	2.940
Floor Price (in dollars per share)	0.380
Series A-2 Notes
Debt Instrument [Line Items]
Reference Price (in dollars per share)	2.940
Floor Price (in dollars per share)	$ 0.380

DEBT AND FINANCE LEASE LIABI_10

DEBT AND FINANCE LEASE LIABILITIES - Debt Conversion (Details) - Convertible Notes Payable $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Series A Notes
Debt Instrument [Line Items]
Shares of common stock issued for conversions (in shares) | shares	21,785,618
Average conversion price (in dollars per share) | $ / shares	$ 2.41
Series A Notes | Principal balance converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 50,000
Series A Notes | Make-whole interest converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 2,500
Series B-1 Notes
Debt Instrument [Line Items]
Shares of common stock issued for conversions (in shares) | shares	21,127,720
Average conversion price (in dollars per share) | $ / shares	$ 1.24
Series B-1 Notes | Principal balance converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 25,000
Series B-1 Notes | Make-whole interest converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 1,250
Series B-2 Notes
Debt Instrument [Line Items]
Shares of common stock issued for conversions (in shares) | shares	21,758,268
Average conversion price (in dollars per share) | $ / shares	$ 0.72
Series B-2 Notes | Principal balance converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 15,000
Series B-2 Notes | Make-whole interest converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 750
Series B-3 Notes
Debt Instrument [Line Items]
Shares of common stock issued for conversions (in shares) | shares	22,639,159
Average conversion price (in dollars per share) | $ / shares	$ 0.56
Series B-3 Notes | Principal balance converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 12,075
Series B-3 Notes | Make-whole interest converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 604
Series A-1 Notes
Debt Instrument [Line Items]
Shares of common stock issued for conversions (in shares) | shares	128,380,608
Average conversion price (in dollars per share) | $ / shares	$ 1.02
Series A-1 Notes | Principal balance converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 125,000
Series A-1 Notes | Make-whole interest converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 6,250
Series A-2 Notes
Debt Instrument [Line Items]
Shares of common stock issued for conversions (in shares) | shares	35,952,992
Average conversion price (in dollars per share) | $ / shares	$ 1.17
Series A-2 Notes | Principal balance converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 40,000
Series A-2 Notes | Make-whole interest converted
Debt Instrument [Line Items]
Conversion of convertible note	$ 2,000

DEBT AND FINANCE LEASE LIABI_11

DEBT AND FINANCE LEASE LIABILITIES - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 8,070
2025	8,946
2026	165,600
2027	8,950
2028	8,441
Thereafter	574,450
Total	$ 774,457

DEBT AND FINANCE LEASE LIABI_12

DEBT AND FINANCE LEASE LIABILITIES - Letters of Credit Narrative (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 0	$ 1,200,000	$ 600,000
Standby Letters of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 12,500,000	$ 25,000,000
Reduced amount of letter of credit	$ 13,100,000				$ 15,000,000

CAPITAL STRUCTURE (Details)

CAPITAL STRUCTURE (Details)						1 Months Ended		3 Months Ended	12 Months Ended
	Apr. 11, 2023 USD ($) $ / shares shares	Apr. 04, 2023 USD ($) $ / shares shares	Nov. 29, 2021 shares	Sep. 24, 2021 USD ($) day shares	Jun. 11, 2021 USD ($) day shares	Aug. 31, 2023 USD ($)	Aug. 31, 2022 USD ($)	Mar. 31, 2023 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Aug. 03, 2023 shares	Aug. 02, 2023 shares
Class of Warrant or Right [Line Items]
Common stock and preferred stock, shares authorized (in shares) | shares									1,750,000,000
Common stock, shares authorized (in shares) | shares									1,600,000,000	800,000,000		1,600,000,000	800,000,000
Preferred stock, shares authorized (in shares) | shares									150,000,000	150,000,000
Number of shares called by each warrant (in shares) | shares									1
Warrant exercise price per share (in dollars per share) | $ / shares									$ 11.50
Revaluation of warrant liability									$ 371,000	$ 3,903,000	$ 3,051,000
Warrant liability									10,000	381,000
Purchase period					36 months
Issuance of common stock for commitment shares					$ 2,600,000				$ 0	$ 0	$ 5,564,000
Sale of stock, price per share (in dollars per share) | $ / shares		$ 1.12							$ 0.75
Registration Rights Agreement
Class of Warrant or Right [Line Items]
Maximum authorized amount					$ 300,000,000
Maximum allowable beneficial ownership (in percent)					4.99%
Percentage of volume weighted average price					97%
Consecutive trading days | day					3
Number of shares issued in transaction | shares								3,420,990		17,248,244	14,213,498
Sale of stock, consideration received on transaction								$ 8,400,000		$ 123,700,000	$ 163,800,000
Registration Rights Agreement Shares Issued For Commitment Fee
Class of Warrant or Right [Line Items]
Number of shares issued in transaction | shares				252,040	155,703
Issuance of common stock for commitment shares				$ 2,900,000
Second Purchase Agreement
Class of Warrant or Right [Line Items]
Maximum allowable beneficial ownership (in percent)				4.99%
Purchase period				36 months
Percentage of volume weighted average price				97%
Consecutive trading days | day				3
Number of shares issued in transaction | shares									28,790,787
Sale of stock, consideration received on transaction				$ 300,000,000					$ 59,200,000
Maximum authorized amount (in shares) | shares			29,042,827
Common stock issued under Equity Distribution Agreement, net
Class of Warrant or Right [Line Items]
Maximum authorized amount						$ 600,000,000	$ 400,000,000
Number of shares issued in transaction | shares									68,351,243	45,324,227
Sale of stock, consideration received on transaction									$ 117,500,000	$ 163,500,000
Sale of stock, purchase agreement, increase in authorized amount						$ 200,000,000
Fixed commission rate of gross offering proceeds of shares sold							2.50%
Proceeds from issuance of common stock									120,500,000	167,800,000
Payments for commissions									3,000,000	4,300,000
Common stock issued under Equity Distribution Agreement, net | Other Current Liabilities
Class of Warrant or Right [Line Items]
Accrued commission									$ 49,500	$ 1,700,000
Common stock issued under Equity Distribution Agreement, net | Arithmetic Average
Class of Warrant or Right [Line Items]
Average price (in dollars per share) | $ / shares									$ 1.76
Sale of stock, price per share (in dollars per share) | $ / shares										$ 3.70
Public Offering
Class of Warrant or Right [Line Items]
Number of shares issued in transaction | shares		29,910,715
Sale of stock, consideration received on transaction		$ 32,200,000
Proceeds from issuance of common stock									$ 128,152,000	$ 0	$ 0
December 2023 Public Offering
Class of Warrant or Right [Line Items]
Number of shares issued in transaction | shares									133,333,334
Sale of stock, consideration received on transaction									$ 95,600,000
Common stock issued in registered direct offering
Class of Warrant or Right [Line Items]
Number of shares issued in transaction | shares	59,374,999
Sale of stock, consideration received on transaction	$ 63,200,000
Sale of stock, price per share (in dollars per share) | $ / shares	$ 1.12
Authorized amount	$ 100,000,000
Private Warrant
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares) | shares									841,183	1,137,850
Warrant exercise price per share (in dollars per share) | $ / shares									$ 96.96

STOCK-BASED COMPENSATION EXPE_3

STOCK-BASED COMPENSATION EXPENSE - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended			12 Months Ended
	Oct. 14, 2022 shares	Sep. 30, 2023 USD ($) $ / shares	Jun. 30, 2023 USD ($) day milestone $ / shares	Dec. 31, 2022 USD ($) day $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) day $ / shares shares	Dec. 31, 2021 USD ($) shares	Aug. 03, 2023 shares	May 06, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares									42,802,865
Exercise of stock options (in shares) | shares					6,723,629	6,424,780	3,472,267
Exercises in period, intrinsic value					$ 8,200	$ 14,600	$ 51,800
Vested in period, fair value						800	400
Stock-based compensation expense					75,391	252,445	205,711
Stock-based compensation					$ 75,391	$ 252,445	$ 205,711
Romeo Power, Inc
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares transferred per share of stock acquired (in shares) | shares	0.1186			0.1186
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares								30,000,000	4,000,000
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					3 years
Grants in period (in shares) | shares					26,365,516
Time-Based Restricted Stock Units | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					1 year
Market Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of award vesting milestones | milestone			3
Trading days | day			20	20		20
Risk-free interest rate , minimum			20%		3.93%	1.66%
Risk-free interest rate, maximum			0.30%		5.03%	3.50%
Expected volatility						100%
Grants in period (in shares) | shares					5,000,000	1,351,361
Grant date fair value				$ 3,200		$ 3,200
Stock-based compensation expense		$ 55,800
Incremental cost		$ 4,300
Market Based RSUs | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares		$ 25	$ 25
Stock-based compensation			$ 6,800
Market Based RSUs | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares		40
Market Based RSUs | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares		$ 55
Performance-Based Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					3 years
Grants in period (in shares) | shares					5,000,000
Grant date fair value					$ 12,500
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					36 months
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period					10 years
Minimum | Market Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares			$ 25
Expected volatility			70%
Minimum | Market Based RSUs | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares				$ 25		$ 25
Minimum | Performance-Based Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage					0%
Minimum | 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise period					1 year
Maximum | Market Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares			$ 55
Expected volatility			85%
Maximum | Market Based RSUs | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price target (in dollars per share) | $ / shares				$ 55		$ 55
Maximum | Performance-Based Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage					200%
Maximum | 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise period					4 years

STOCK-BASED COMPENSATION EXPE_4

STOCK-BASED COMPENSATION EXPENSE - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options
Outstanding at beginning of period (in shares)	22,470,585
Granted (in shares)	0
Exercised (in shares)	6,723,629	6,424,780	3,472,267
Cancelled (in shares)	705,583
Options at end of period (in shares)	15,041,373	22,470,585
Vested and exercisable as of period end (in shares)	15,041,373
Weighted Average Exercise Price Per share
Outstanding at beginning of period (in dollars per share)	$ 1.31
Granted (in dollars per share)	0
Exercised (in dollars per share)	1.06
Cancelled (in dollars per share)	2.45
Outstanding at end of period (in dollars per share)	1.37	$ 1.31
Vested and exercisable at period end (in dollars per share)	$ 1.37
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options, weighted average remaining contractual term	3 years 7 months 20 days	5 years 3 months 29 days
Options, weighted average contractual term, vested and exercisable at period end	3 years 7 months 20 days
Aggregate intrinsic value outstanding	$ 0	$ 23,418
Aggregate intrinsic value, vested and exercisable at period end	$ 0

STOCK-BASED COMPENSATION EXPE_5

STOCK-BASED COMPENSATION EXPENSE - Fair Value Assumptions and Inputs (Details) - Market Based RSUs - $ / shares	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate , minimum	20%	3.93%	1.66%
Risk-free interest rate, maximum	0.30%	5.03%	3.50%
Expected volatility, minimum		99%
Expected volatility, maximum		127%
Expected volatility			100%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term (years)		2 years 2 months 12 days	9 months 18 days
Stock price (in dollars per share)		$ 0.82	$ 5.32
Expected volatility	70%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term (years)		2 years 8 months 12 days	1 year 9 months 18 days
Stock price (in dollars per share)		$ 3.40	$ 9.66
Expected volatility	85%

STOCK-BASED COMPENSATION EXPE_6

STOCK-BASED COMPENSATION EXPENSE - Schedule of RSUs (Details) - Time-Based Restricted Stock Units	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Number of RSUs
Non-vested at beginning of period (in shares) | shares	19,574,800
Granted (in shares) | shares	26,365,516
Released (in shares) | shares	13,247,573
Cancelled (in shares) | shares	7,151,622
Non-vested at end of period (in shares) | shares	25,541,121
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 10
Granted (in dollars per share) | $ / shares	1.3
Released (in dollars per share) | $ / shares	9.9
Cancelled (in dollars per share) | $ / shares	5.1
Non-vested at end of period (in dollars per share) | $ / shares	$ 2.1

STOCK-BASED COMPENSATION EXPE_7

STOCK-BASED COMPENSATION EXPENSE - Schedule of Market Based RSUs (Details) - Market Based RSUs - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Market Based RSUs
Non-vested at beginning of period (in shares)	2,071,058
Granted (in shares)	5,000,000	1,351,361
Released (in shares)	0
Cancelled (in shares)	4,071,058
Non-vested at end of period (in shares)	3,000,000	2,071,058
Weighted-Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)	$ 24.5
Granted (in dollars per share)	2.5
Released (in dollars per share)	0
Cancelled (in dollars per share)	13.1
Non-vested at end of period (in dollars per share)	$ 3.3	$ 24.5

STOCK-BASED COMPENSATION EXPE_8

STOCK-BASED COMPENSATION EXPENSE - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 75,391	$ 252,445	$ 205,711
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	51,003	214,717	169,561
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	22,213	34,949	36,150
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 2,175	$ 2,779	$ 0

STOCK-BASED COMPENSATION EXPE_9

STOCK-BASED COMPENSATION EXPENSE - Unrecognized Compensation Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Unrecognized compensation expense
Total unrecognized compensation expense at December 31, 2023	$ 39,325
Market Based RSUs
Unrecognized compensation expense
Market Based RSUs and RSUs	$ 8,151
Remaining weighted-average recognition period (years)	1 year 8 months 15 days
RSUs
Unrecognized compensation expense
Market Based RSUs and RSUs	$ 31,174
Remaining weighted-average recognition period (years)	2 years

DECONSOLIDATION OF SUBSIDIARY -

DECONSOLIDATION OF SUBSIDIARY - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from deconsolidation of discontinued operation	$ 24,935	$ 0	$ 0
Discontinued Operations, Disposed of by Means Other than Sale | Romeo Power, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from deconsolidation of discontinued operation	$ 24,935

DECONSOLIDATION OF SUBSIDIARY_2

DECONSOLIDATION OF SUBSIDIARY - Assets and Liabilities to Assignment for the Benefit of Creditors of Loss on Deconsolidation of Subsidiaries (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liabilities deconsolidated:
Loss from deconsolidation of discontinued operation	$ 24,935	$ 0	$ 0
Discontinued Operations, Disposed of by Means Other than Sale | Romeo Power, Inc
Assets deconsolidated:
Cash and cash equivalents	213	7,555
Accounts receivable, net	0	262
Inventory	7,271
Prepaid expenses and other current assets	3,351	9,881
Restricted cash and cash equivalents, non-current	1,500	1,500
Property, plant and equipment, net	17,555
Intangible assets, net	656
Investments in affiliates	10,000
Other assets	23,364	23,948
Total assets subject to assignment for the benefit of creditors	63,910	129,150
Liabilities deconsolidated:
Accounts payable	15,583
Accrued expenses and other current liabilities	57,612	22,990
Debt and finance lease liabilities, current	1,206	1,440
Long-term debt and finance lease liabilities, net of current portion	1,160	1,499
Operating lease liabilities	21,664
Warrant liability	8
Other non-current liabilities	0
Total liabilities subject to assignment for the benefit of creditors	97,233	$ 72,773
Net liabilities derecognized from deconsolidation	(33,323)
Less: intercompany balances derecognized	54,084
Less: cash payments directly related to deconsolidation	2,724
Less: derecognition of goodwill	1,450
Loss from deconsolidation of discontinued operation	$ 24,935

DECONSOLIDATION OF SUBSIDIARY_3

DECONSOLIDATION OF SUBSIDIARY - Assets and Liabilities Subject to Assignment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Total current assets subject to assignment for the benefit of creditors	$ 0	$ 29,025
Non-current assets
Total non-current assets subject to assignment for the benefit of creditors	0	100,125
Current liabilities
Total current liabilities subject to assignment for the benefit of creditors	0	49,102
Non-current:
Total long-term liabilities subject to assignment for the benefit of creditors	0	23,671
Discontinued Operations, Disposed of by Means Other than Sale | Romeo Power, Inc
Current assets
Cash and cash equivalents	213	7,555
Accounts receivable, net	0	262
Inventory		11,327
Prepaid expenses and other current assets	3,351	9,881
Total current assets subject to assignment for the benefit of creditors		29,025
Non-current assets
Restricted cash and cash equivalents, non-current	1,500	1,500
Property, plant and equipment, net		19,221
Intangible assets, net		621
Investments in affiliates		10,000
Prepayment - Long-term Supply Agreement		44,835
Other assets	23,364	23,948
Total non-current assets subject to assignment for the benefit of creditors		100,125
Total assets subject to assignment for the benefit of creditors	63,910	129,150
Current liabilities
Accounts payable		24,672
Accrued expenses and other current liabilities	57,612	22,990
Debt and finance lease liabilities, current	1,206	1,440
Total current liabilities subject to assignment for the benefit of creditors		49,102
Non-current:
Long-term debt and finance lease liabilities, net of current portion	1,160	1,499
Operating lease liabilities		22,132
Warrant liability		40
Total long-term liabilities subject to assignment for the benefit of creditors		23,671
Total liabilities subject to assignment for the benefit of creditors	$ 97,233	$ 72,773

DECONSOLIDATION OF SUBSIDIARY_4

DECONSOLIDATION OF SUBSIDIARY - Components of Loss From Discontinued Operations Presented in the Consolidated Statements of Operations (Details) - Discontinued Operations, Disposed of by Means Other than Sale - Romeo Power, Inc - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 1,665	$ 1,100
Cost of revenues	12,926	19,888
Gross loss	(11,261)	(18,788)
Total operating expenses	65,445	27,255
Loss from operations	(76,706)	(46,043)
Loss from operations	(53)	(28)
Revaluation of warrant liability	33	(29)
Loss from discontinued operations	(76,726)	(46,100)
Research and development
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total operating expenses	5,673	3,287
Selling, general and administrative
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total operating expenses	14,937	23,968
Loss on supplier deposits
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total operating expenses	$ 44,835	$ 0

RETIREMENT SAVINGS PLAN (Detail

RETIREMENT SAVINGS PLAN (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 4.1	$ 3.5	$ 2.1
Percent of match	100%
Percent of employees' gross pay	1%
Percent of match beyond initial 1%	50%
Additional percent of employees' gross pay beyond initial 1%	1%
Minimum
Defined Contribution Plan Disclosure [Line Items]
Additional percent of employees' gross pay beyond initial 1%	1%
Maximum
Defined Contribution Plan Disclosure [Line Items]
Additional percent of employees' gross pay beyond initial 1%	6%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax expense	$ 12,000	$ 6,000	$ 4,000
Valuation allowance	597,680,000	435,923,000	291,200,000
Increase in valuation allowance	161,800,000
Tax credit carryforward	57,800,000
Unrecognized tax benefits	22,764,000	18,076,000	11,661,000	$ 7,392,000
Penalties and interest accrued	0	0
Penalties and interest expense	0	0	$ 0
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	37,300,000
Year 2037 | Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	11,200,000
Indefinite | Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	1,500,000,000
Year 2032 | Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	1,700,000,000
Discontinued Operations
Operating Loss Carryforwards [Line Items]
Deferred income tax assets, net	$ 183,100,000	$ 158,700,000

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax provision
Federal	$ 0	$ 0	$ 0
State	2,000	3,000	1,000
Total current tax provision	2,000	3,000	1,000
Deferred tax provision
Federal	1,000	0	1,000
State	9,000	3,000	2,000
Total deferred tax provision	10,000	3,000	3,000
Income tax expense	$ 12,000	$ 6,000	$ 4,000

INCOME TAXES - Income Tax Recon

INCOME TAXES - Income Tax Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Tax at statutory federal rate	$ (181,041,000)	$ (155,064,000)	$ (144,848,000)
State tax, net of federal benefit	(70,917,000)	(28,612,000)	(21,212,000)
Stock-based compensation	23,822,000	47,382,000	22,825,000
Section 162(m) limitation	3,551,000	3,725,000	2,009,000
Divestiture of affiliate	(11,776,000)	0	0
Research and development credits, net of uncertain tax position	(13,822,000)	(16,503,000)	(12,558,000)
Warrant revaluation	(109,000)	(971,000)	(641,000)
SEC Settlement	0	0	26,250,000
Change in fair value of convertible debt instruments	60,204,000	0	0
Non-deductible interest expense	16,666,000	0	0
Other	12,572,000	5,345,000	(438,000)
Change in valuation allowance	160,862,000	144,704,000	128,617,000
Income tax expense	$ 12,000	$ 6,000	$ 4,000

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets & Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Federal and state income tax credits	$ 66,692	$ 52,932
Net operating loss carryforward	397,340	317,393
Start-up costs capitalized	1,655	1,432
Stock-based compensation	4,659	13,599
Finance lease liabilities	32,202	15,017
Accrued purchase of intangible asset	0	7,993
Inventory	21,999	2,758
Research expenditures	79,429	49,137
Warranty reserve	23,072	1,938
Other	2,429	0
Total deferred tax assets	629,477	462,199
Valuation allowance	(597,680)	(435,923)	$ (291,200)
Deferred tax assets, net of valuation allowance	31,797	26,276
Deferred tax liabilities:
Intangible assets	(2,775)	(2,363)
Finance lease assets	(1,860)	(1,975)
Property, plant and equipment, net	(27,184)	(21,474)
Other	0	(479)
Total deferred tax liabilities	(31,819)	(26,291)
Deferred tax liabilities, net	$ (22)	$ (15)

INCOME TAXES - Changes in Valua

INCOME TAXES - Changes in Valuation Allowance (Details) - Valuation Allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation Allowance as of the beginning of the period	$ (435,923)	$ (291,222)
Current Year Change	(161,757)	(144,701)
Valuation Allowance as of the end of the period	$ (597,680)	$ (435,923)

INCOME TAXES- Unrecognized Tax

INCOME TAXES- Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross amount of unrecognized tax benefits as of the beginning of the year	$ 18,076	$ 11,661	$ 7,392
Additions based on tax positions related to the current year	4,677	5,550	4,269
Additions based on tax position from prior years	11	865	0
Gross amount of unrecognized tax benefits as of the end of the year	$ 22,764	$ 18,076	$ 11,661

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Thousands, € in Millions					1 Months Ended						3 Months Ended	12 Months Ended
	Oct. 20, 2023 USD ($)	Dec. 21, 2021 USD ($)	Jan. 26, 2021	Oct. 19, 2020	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Feb. 28, 2023 payment	Dec. 31, 2022 USD ($)	Jul. 31, 2022 USD ($) payment	Mar. 31, 2023	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Sep. 23, 2020 derivative_action
Other Commitments [Line Items]
Settlement liabilities									$ 90,000			$ 91,330	$ 90,000
Number of derivative actions | derivative_action																	2
Period of derivative action			30 days	30 days
Accrued expenses and other current liabilities									179,571			207,022	179,571
Other long-term liabilities									6,684			21,512	6,684
Inventory repurchase agreement term											15 months
Maximum Inventory repurchase												14,500
Warranties issued in period - recall campaign												65,778
Incurred recall campaign cost												3,000
FCPM License
Other Commitments [Line Items]
Accrued expenses and other current liabilities									32,100			13,800	32,100		€ 12.5	€ 30
Other long-term liabilities									0			5,500	0		€ 5
Regulatory and Governmental Investigations
Other Commitments [Line Items]
Civil penalty		$ 125,000
Payments for legal settlements					$ 1,500	$ 1,500	$ 1,500		$ 5,000	$ 5,000				$ 25,000
Number of payments in alternative payment plan | payment								2		2
Settlement liabilities												84,000
Legal fees												200	$ 6,100	$ 22,400
Litigation settlement, amount awarded from other party	$ 165,000
Lion Electric Matter
Other Commitments [Line Items]
Settlement liabilities												$ 1,800

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Contractual Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Purchase obligations
Total	$ 751,526
Less than 1 Year	12,186
1 - 3 Years	218,314
3 - 5 Years	335,876
More than 5 Years	185,150
Contractual Obligations
Total	889,163
Less than 1 Year	116,650
1 - 3 Years	237,525
3 - 5 Years	346,966
More than 5 Years	188,022
Leases Executed Not Yet Commenced
Purchase obligations
Total	29,323
Less than 1 Year	3,668
1 - 3 Years	11,693
3 - 5 Years	11,090
More than 5 Years	2,872
Accrued SEC settlement
Other Commitments [Abstract]
Total	84,000
Less than 1 Year	84,000
1 - 3 Years	0
3 - 5 Years	0
More than 5 Years	0
FCPM License
Other Commitments [Abstract]
Total	19,314
Less than 1 Year	13,796
1 - 3 Years	5,518
3 - 5 Years	0
More than 5 Years	0
Other accrued obligations
Other Commitments [Abstract]
Total	5,000
Less than 1 Year	3,000
1 - 3 Years	2,000
3 - 5 Years	0
More than 5 Years	$ 0

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net loss from continuing operations	$ (864,621)	$ (738,138)	$ (690,438)
Net loss from discontinued operations	(101,661)	(46,100)	0
Net loss	(966,282)	(784,238)	(690,438)
Less: revaluation of warrant liability	0	0	(3,051)
Net loss, diluted	$ (966,282)	$ (784,238)	$ (693,489)
Denominator:
Weighted average shares outstanding, basic (in shares)	800,030,551	441,800,499	398,655,081
Dilutive effect of common stock issuable from assumed exercise of options (in shares)	0	0	129,311
Weighted average shares outstanding, diluted (in shares)	800,030,551	441,800,499	398,784,392
Basic net loss per share:
Net loss from continuing operations(in dollars per share)	$ (1.08)	$ (1.67)	$ (1.73)
Net loss from discontinued operations (in dollars per share)	(0.13)	(0.11)	0
Net loss (in dollars per share)	(1.21)	(1.78)	(1.73)
Diluted net loss per share:
Net loss (in dollars per share)	$ (1.21)	$ (1.78)	$ (1.74)

NET LOSS PER SHARE - Schedule_2

NET LOSS PER SHARE - Schedule of Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	89,916,634	91,795,960	54,492,544
Convertible Debt | Toggle Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	21,539,624	24,123,014	0
Convertible Debt | Senior Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	22,418,653	0
Convertible Debt | 8.25% Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	23,953,333	0	0
Outstanding warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	841,183	1,137,850	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)	15,041,373	22,470,585	28,996,160
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)	28,541,121	21,645,858	25,496,384

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2024	Feb. 28, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 12, 2023
Subsequent Event [Line Items]
Payment for Coupon Make-Whole Premiums				$ 35,241	$ 0	$ 0
8.25% Convertible Notes
Subsequent Event [Line Items]
Stated Interest rate				8.25%
8.25% Convertible Notes | Convertible Notes Payable
Subsequent Event [Line Items]
Stated Interest rate				8.25%	8.25%		8.25%
Sale | Phoenix Hydrogen Hub Project
Subsequent Event [Line Items]
Net proceeds			$ 20,700
Subsequent Event | 8.25% Convertible Notes | Convertible Notes Payable
Subsequent Event [Line Items]
Stated Interest rate		8.25%
Issuance of common stock for conversion of notes		$ 4,100
Issuance of common stock for conversion of notes (in shares)		4,499,999
Payment for Coupon Make-Whole Premiums		$ 900
Subsequent Event | Sale | Phoenix Hydrogen Hub Project
Subsequent Event [Line Items]
Net proceeds	$ 12,500

Uncategorized Items - nkla-2023

Label	Element	Value
Contingent Stock Consideration Receivable [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue	$ 25,956,000