Canoo (GOEVQ) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 06, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	001-38824
Entity Registrant Name	Canoo Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-1476189
Entity Address State Or Province	CA
Entity Address, Address Line One	19951 Mariner Avenue
Entity Address, City or Town	Torrance
Entity Address, Postal Zip Code	90503
City Area Code	424
Local Phone Number	271-2144
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	GOEV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		237,491,189
Entity Central Index Key	0001750153
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 563,565	$ 702,422
Prepaids and other current assets	13,345	6,463
Total current assets	576,910	708,885
Property and equipment, net	88,767	30,426
Operating lease right-of-use assets	14,418	12,913
Other assets	31,429	1,246
Total assets	711,524	753,470
Current liabilities
Accounts payable	51,778	17,243
Accrued expenses and other current liabilities	64,468	10,625
Total current liabilities	116,246	27,868
Contingent earnout shares liability	58,101	133,503
Private placement warrants liability		6,613
Operating lease liabilities	13,941	13,262
Long-term debt		6,943
Other long-term liabilities		39
Total liabilities	188,288	188,228
Commitments and contingencies (Note 8)
Stockholders' equity
Common stock, $0.0001 par value; 500,000 authorized; 237,563 and 235,753 issued and outstanding at June 30, 2021 and December 31, 2020, respectively	24	24
Additional paid-in capital	996,354	910,579
Accumulated deficit	(473,142)	(345,361)
Total stockholders' equity	523,236	565,242
Total liabilities and stockholders' equity	$ 711,524	$ 753,470

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2021	Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000	500,000
Common stock, shares issued	237,563	235,753
Common stock, shares outstanding	237,563	235,753

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Costs and Operating Expenses
Research and development expenses, excluding depreciation	$ 57,638	$ 14,642	$ 96,956	$ 33,935
Selling, general and administrative expenses, excluding depreciation	44,625	3,411	100,252	7,492
Depreciation	2,083	1,756	4,207	3,441
Total costs and operating expenses	104,346	19,809	201,415	44,868
Loss from operations	(104,346)	(19,809)	(201,415)	(44,868)
Other (expense) income
Interest income (expense)	34	(3,545)	46	(9,371)
(Loss) gain on fair value change in contingent earnout shares liability	(8,157)		75,402
Loss on fair value change in private placement warrants liability			(1,639)
Other expense (income), net	(85)	113	(174)	108
Loss before income taxes	(112,554)	(23,241)	(127,780)	(54,131)
Net loss and comprehensive loss	$ (112,554)	$ (23,241)	$ (127,780)	$ (54,131)
Per Share Data:
Net loss per share, basic and diluted	$ (0.50)	$ (0.28)	$ (0.57)	$ (0.65)
Weighted-average shares outstanding, basic and diluted	226,928,000	83,739,513	225,885,000	82,845,081

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Shareholder's Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated deficit	Total
Balance as of beginning of period at Dec. 31, 2019	$ 11	$ 202,796	$ (258,675)	$ (55,868)
Balance as of beginning of period (shares) at Dec. 31, 2019	108,838,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares upon exercise of stock options (shares)	424,000
Gain on extinguishment of related party convertible debt		8,264		8,264
Stock-based compensation		389		389
Net loss and comprehensive loss			(30,890)	(30,890)
Balance as of end of period at Mar. 31, 2020	$ 11	211,449	(289,565)	(78,105)
Balance as of end of period (shares) at Mar. 31, 2020	109,262,000
Balance as of beginning of period at Dec. 31, 2019	$ 11	202,796	(258,675)	(55,868)
Balance as of beginning of period (shares) at Dec. 31, 2019	108,838,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss and comprehensive loss				(54,131)
Balance as of end of period at Jun. 30, 2020	$ 11	211,775	(312,806)	(101,020)
Balance as of end of period (shares) at Jun. 30, 2020	106,135,000
Balance as of beginning of period at Mar. 31, 2020	$ 11	211,449	(289,565)	(78,105)
Balance as of beginning of period (shares) at Mar. 31, 2020	109,262,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of unvested shares - forfeitures		(25)		(25)
Repurchase of unvested shares - forfeitures (shares)	(3,127,000)
Stock-based compensation		351		351
Net loss and comprehensive loss			(23,241)	(23,241)
Balance as of end of period at Jun. 30, 2020	$ 11	211,775	(312,806)	(101,020)
Balance as of end of period (shares) at Jun. 30, 2020	106,135,000
Balance as of beginning of period at Dec. 31, 2020	$ 24	910,579	(345,361)	565,242
Balance as of beginning of period (shares) at Dec. 31, 2020	235,753,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from exercise of public warrants		6,867		$ 6,867
Proceeds from exercise of public warrants (shares)	597,000			597,114
Repurchase of unvested shares - forfeitures		(2)		$ (2)
Repurchase of unvested shares - forfeitures (shares)	(118,000)
Issuance of shares for restricted stock units vested (shares)	1,230,000
Issuance of shares upon exercise of stock options (shares)	37,000
Stock-based compensation		45,146		45,146
Conversion of private placement warrants to public warrants		8,252		8,252
Net loss and comprehensive loss			(15,227)	(15,227)
Balance as of end of period at Mar. 31, 2021	$ 24	970,842	(360,588)	610,278
Balance as of end of period (shares) at Mar. 31, 2021	237,499,000
Balance as of beginning of period at Dec. 31, 2020	$ 24	910,579	(345,361)	565,242
Balance as of beginning of period (shares) at Dec. 31, 2020	235,753,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of private placement warrants to public warrants				8,252
Net loss and comprehensive loss				(127,780)
Balance as of end of period at Jun. 30, 2021	$ 24	996,354	(473,142)	523,236
Balance as of end of period (shares) at Jun. 30, 2021	237,563,000
Balance as of beginning of period at Mar. 31, 2021	$ 24	970,842	(360,588)	$ 610,278
Balance as of beginning of period (shares) at Mar. 31, 2021	237,499,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from exercise of public warrants (shares)				0
Repurchase of unvested shares - forfeitures		(2)		$ (2)
Repurchase of unvested shares - forfeitures (shares)	(56,000)
Issuance of shares for restricted stock units vested (shares)	114,000
Issuance of shares upon exercise of stock options (shares)	6,000
Stock-based compensation		25,514		25,514
Net loss and comprehensive loss			(112,554)	(112,554)
Balance as of end of period at Jun. 30, 2021	$ 24	$ 996,354	$ (473,142)	$ 523,236
Balance as of end of period (shares) at Jun. 30, 2021	237,563,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Cash flows from operating activities:
Net loss	$ (112,554)	$ (127,780)	$ (54,131)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,083	4,207	3,441
Non-cash operating lease expense		235	312
Loss on the disposal of property and equipment			9
Debt discount amortization			2,638
Stock-based compensation		70,660	740
Gain on fair value change in contingent earnout share liability	8,157	(75,402)
Loss on fair value change in private placement warrants liability		(1,639)
Changes in operating assets and liabilities:
Prepaids and other current assets		(7,714)	(267)
Other assets		256	664
Accounts payable		1,165	(999)
Accrued interest expense			(671)
Accrued expenses and other current liabilities		23,916	6,160
Operating lease liabilities			(210)
Net cash used in operating activities		(108,818)	(42,314)
Cash flows from investing activities:
Purchases of property and equipment		(28,653)	(979)
Net cash used in investing activities		(28,653)	(979)
Cash flows from financing activities:
Proceeds from related party convertible debt and derivative liability			10,000
Proceeds from issuance of ordinary shares			3
Proceeds from convertible debt			15,250
Loan advance			7,017
Repurchase of restricted ordinary shares		(4)	(25)
Proceeds from public warrants exercised		6,867
Repurchase of unvested shares		(4)	(25)
Payment of offering costs		(1,306)
Repayments on loan advance		6,943
Other			22
Net cash (used in) provided by financing activities		(1,386)	32,267
Net increase in cash, cash equivalents, and restricted cash		(138,857)	(11,026)
Cash, cash equivalents, and restricted cash, beginning of period		702,422	29,507
Cash, cash equivalents, and restricted cash, end of period	563,565	563,565	18,481
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents at end of period	563,075	563,075	17,981
Restricted cash	490	490	500
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows	$ 563,565	563,565	18,481
Supplemental non-cash investing and financing activities
Acquisition of property and equipment included in current liabilities		37,887
Offering costs included in accounts payable		12,001
Recognition of operating lease right of use asset		2,003
Conversion of private placement warrants to public warrants		8,252
Gain on extinguishment of convertible debt recorded in additional paid-in capital			$ 8,264
Supplemental disclosures of cash flow information
Cash paid for interest		$ 60

Organization and Business

Organization and Business	6 Months Ended
	Jun. 30, 2021
Organization and Business
Organization and Business	1. Organization and Business Canoo Inc. (“Canoo” or the “Company”) is a mobility technology company with a mission to bring EVs to everyone. The Company has developed a breakthrough EV platform that it believes will enable it to rapidly innovate, and bring new products addressing multiple use cases to market faster than its competition and at lower cost. Business Combination On December 21, 2020 (the “Closing Date”), Hennessy Capital Acquisition Corp. IV (“HCAC”) consummated the previously announced merger pursuant to that certain Merger Agreement and Plan of Reorganization, dated August 17, 2020 (the “Merger Agreement”), by and among HCAC, HCAC IV First Merger Sub, Ltd., an exempted company incorporated with limited liability in the Cayman Islands and a direct, a wholly owned subsidiary of HCAC (“First Merger Sub”), EV Global Holdco LLC (f/k/a HCAC IV Second Merger Sub, LLC), a Delaware limited liability company and a direct, wholly owned subsidiary of HCAC (“Second Merger Sub”), and Canoo Holdings Ltd., an exempted company incorporated with limited liability in the Cayman Islands (“Legacy Canoo”). Pursuant to the terms of the Merger Agreement, a business combination between HCAC and Legacy Canoo was effected through the merger of (a) First Merger Sub with and into Legacy Canoo, with Legacy Canoo surviving as a wholly-owned subsidiary of HCAC (Legacy Canoo, in its capacity as the surviving corporation of the merger, the “Surviving Corporation”) and (b) the Surviving Corporation with and into Second Merger Sub, with Second Merger Sub being the surviving entity, which ultimately resulted in Legacy Canoo becoming a wholly-owned direct subsidiary of HCAC (all transactions collectively, the “Business Combination”). On the Closing Date, and in connection with the closing of the Business Combination, HCAC changed its name to Canoo Inc. and the Company’s common stock began trading on The Nasdaq Global Select Market under the ticker symbol GOEV. The financial statements included in this report reflect (i) the historical operating results of Legacy Canoo prior to the Business Combination; (ii) the combined results of HCAC and Legacy Canoo following the closing of the Business Combination; (iii) the assets and liabilities of Legacy Canoo at their historical cost; and (iv) the Company’s equity structure for all periods presented.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies These unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States (“GAAP”) for interim reporting. Accordingly, certain notes or other information that are normally required by GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, the unaudited condensed consolidated financial statements should be read in connection with the Company’s audited financial statements and related notes as of and for the year ended December 31, 2020 (“Annual Report on Form 10-K”). Results of operations reported for interim periods are not necessarily indicative of results for the entire year. In the opinion of management, the Company has made all adjustments necessary to present fairly its condensed consolidated financial statements for the periods presented. Such adjustments are of a normal, recurring nature. The accompanying unaudited condensed consolidated financial statements include the results of the Company and its subsidiaries. The Company’s comprehensive loss is the same as its net loss. Except for any updates below, no material changes have been made to the Company’s significant accounting policies disclosed in Note 2 of the Notes to the Consolidated Financial Statements in Part II, Item 8 of the Annual Report on Form 10-K. Retroactive Application of Recapitalization The Business Combination on December 21, 2020 was accounted for as a recapitalization of equity structure. Pursuant to GAAP, the Company retrospectively recasted the weighted-average shares included within its condensed consolidated statements of operations for the three and six months ended June 30, 2020. Legacy Canoo redeemable convertible preference shares – Angel Series (“Angel Shares”) and Legacy Canoo redeemable convertible preference shares – Seed Series (“Seed Shares”) were converted to Legacy Canoo A series redeemable convertible preference shares and later were exchanged into Legacy Canoo ordinary shares. The basic and diluted weighted-average Legacy Canoo ordinary shares are retroactively converted to shares of the Company’s common stock to conform to the recasted condensed consolidated statements of stockholders' equity (deficit). The following table summarizes the weighted-average common stock of the Company, basic and diluted for the three and six months ended June 30, 2020 after factoring all retroactive application of recapitalization. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/21/20 ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Merger ​ Recapitalized ​ Days ​ ​ ​ Average ​ ​ ​ ​ As ​ Conversion ​ Common ​ Outstanding ​ % of ​ Common Date ​ Description ​ Calculated ​ Ratio ​ Stock ​ in 2020 ​ weighting ​ Shares 3 months ended 6/30/2020 ​ Weighted-average shares, basic and diluted ​ 8,235,927 ​ 1.24 ​ 10,207,895 ​ ​ ​ 100 % 10,207,895 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2018 Angel Shares ​ ​ ​ ​ 51,316,627 91 100 % 51,316,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3/4/2019 Seed Shares ​ ​ ​ ​ 11,107,496 91 100 % 11,107,496 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5/6/2019 Seed Shares ​ ​ ​ ​ 11,107,495 91 100 % 11,107,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 83,739,513 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/21/20 ​ ​ ​ Weighted ​ ​ ​ ​ As ​ Merger ​ Recapitalized ​ Days ​ ​ ​ Average ​ ​ ​ ​ Previously ​ Conversion ​ Common ​ Outstanding ​ % of ​ Common Date ​ Description ​ Reported ​ Ratio ​ Stock ​ in 2020 ​ weighting ​ Shares 6 months ended 6/30/2020 ​ Weighted-average shares, basic and diluted ​ 7,514,282 ​ 1.24 ​ 9,313,463 ​ ​ ​ 100 % 9,313,463 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2018 Angel Shares ​ ​ ​ ​ 51,316,627 182 100 % 51,316,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3/4/2019 Seed Shares ​ ​ ​ ​ 11,107,496 182 100 % 11,107,496 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5/6/2019 Seed Shares ​ ​ ​ ​ 11,107,495 182 100 % 11,107,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 82,845,081 ​ COVID-19 Beginning in the first quarter of 2021 and continuing in the second quarter of 2021, there has been increasing availability and administration of vaccines against COVID-19 in many parts of the world, as well as an easing of restrictions on social, business, travel and government activities and functions. On the other hand, virus variants, infection rates and regulations continue to fluctuate in various regions and there are ongoing global impacts resulting from the pandemic, including challenges and increases in costs for logistics and supply chains and intermittent supplier delays. The Company has also previously been affected by temporary facility closures, employment and compensation adjustments, and impediments to administrative activities supporting its product research and development. Ultimately, the Company cannot predict the duration or severity of the COVID-19 pandemic or any variant thereof. The Company will continue to monitor macroeconomic conditions to remain flexible and to optimize and evolve its business as appropriate, and the Company will have to project demand and infrastructure requirements globally and deploy its workforce and other resources accordingly. Fair Value of Financial Instruments The Company applies the provisions of ASC 820, Fair Value Measurements and Disclosures ● Level 1 Quoted prices in active markets for identical assets or liabilities. ● Level 2 Observable inputs other than Level 1 quoted prices, such as quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active for identical or similar assets and liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 Valuations are based on inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. ​ Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as required by ASC 820, by level, within the fair value hierarchy as of June 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ Fair Value Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money Market Funds ​ $ 563,565 ​ $ 563,565 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability ​ ​ ​ ​ Contingent earnout shares liability ​ $ 58,101 ​ $ — ​ $ — ​ $ 58,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Fair Value Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money Market Funds ​ $ 702,422 ​ $ 702,422 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability ​ ​ ​ ​ ​ Contingent earnout shares liability ​ $ 133,503 ​ $ — ​ $ — ​ $ 133,503 Private placement warrants liability ​ $ 6,613 ​ $ — ​ $ 6,613 ​ $ — ​ As described in Note 10, the Company has a contingent obligation to issue 15.0 million shares of the Company’s common stock to certain stockholders and employees upon the achievement of certain market share price milestones within specified periods following the Business Combination (the “Earnout Shares”). Upon the occurrence of a bankruptcy or liquidation, any unissued Earnout Shares would be fully issued regardless of whether the share price target has been met. The Earnout Shares are accounted for as a contingent liability and its fair value is determined using Level 3 inputs, since estimating the fair value of this contingent liability requires the use of significant and subjective inputs that may and are likely to change over the duration of the liability with related changes in internal and external market factors. The tranches were valued using the Monte Carlo simulation of the stock prices based on historical and implied market volatility of a peer group of public companies. Additionally, as described in Note 12, the private placement warrants that were outstanding were converted to public warrants on March 2, 2021. The private placement warrants are accounted for as a liability and its fair value is determined using Level 2 inputs, since the Company’s public warrants are actively traded and the Company’s private placement warrants have terms and provisions that are identical to those of the public warrants. Following is a summary of the change in fair value of contingent Earnout Shares liability and private placement warrants liability for the six months ended June 30, 2021 (in thousands). ​ Earnout Shares Liability ​ ​ ​ ​ ​ Beginning fair value at December 31, 2020 ​ $ 133,503 Change in fair value during the period ​ ​ (75,402) Ending fair value at June 30, 2021 ​ $ 58,101 ​ Private Placement Warrants Liability ​ ​ ​ ​ ​ Beginning fair value at December 31, 2020 ​ $ 6,613 Change in fair value during the period ​ ​ 1,639 Conversion of private placement warrants to public warrants ​ ​ (8,252) Ending fair value at June 30, 2021 ​ $ — ​

Immaterial correction of prior

Immaterial correction of prior period financial statements	6 Months Ended
	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Immaterial correction of prior period financial statements	3. Immaterial correction of prior period financial statements Subsequent to issuance of the Company’s Annual Report on Form 10-K for the year-ended December 31, 2020, on April 12, 2021, the SEC Division of Corporation of Finance released Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”) (the “Statement”). Upon review and analysis of the Statement, management determined that the Company’s private placement warrants issued in connection with HCAC's IPO on March 5, 2019 do not meet the scope exception from derivative accounting prescribed by ASC 815-40, Contracts in Entity’s Own Equity ​ The impact of the misstatement as of December 31, 2020 resulted in an understatement of the private placement warrants liability of $6.6 million, and an overstatement of accumulated deficit and additional paid-in capital of $3.1 million and $9.7 million, respectively. ​ Accordingly, management is correcting the relevant financial statements and related footnotes as of December 31, 2020 within these condensed consolidated financial statements. Management has evaluated the materiality of these misstatements based on an analysis of quantitative and qualitative factors and concluded they were not material to the prior period financial statements, individually or in aggregate. ​ The following tables reflect the impact of the immaterial correction on the Company’s previously reported consolidated balance sheet as of December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ As Previously Warrants ​ ​ ​ Reported ​ adjustments ​ As Corrected Consolidated Balance Sheet ​ ​ ​ ​ ​ ​ Private placement warrants liability — 6,613 6,613 Total liabilities 181,615 6,613 188,228 ​ ​ ​ ​ ​ ​ ​ Stockholders' equity (deficit) Additional paid in capital 920,324 (9,745) 910,579 Accumulated deficit (348,493) 3,132 (345,361) Total stockholders' equity (deficit) 571,855 (6,613) 565,242 ​

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2021
Recent Accounting Pronouncements
Recent Accounting Pronouncements	4. Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”), in the form of Accounting Standards Updates (“ASUs”), to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have immaterial impact on the Company’s consolidated financial position, results of operations or cash flows. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU No. 2020-06 Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40). The objective of the amendments in this ASU is to address issues identified as a result of the complexity associated with applying GAAP for certain financial instruments with characteristics of liabilities and equity. The amendments in this ASU reduce the number of accounting models for convertible debt instruments and redeemable convertible preference shares. For convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract. The amendments in the ASU are effective for public business entities for fiscal years beginning after December 15, 2021, including interim periods therein. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating this guidance to determine the impact it may have on the consolidated financial statements. ​ In May 2021, the FASB issued ASU No. 2021 04 -

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2021
Property and Equipment, net
Property and Equipment, net	5. Property and Equipment, net Property and equipment, net consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Machinery and equipment ​ $ 14,293 ​ $ 15,292 Computer hardware ​ 3,468 ​ 2,464 Computer software ​ 6,868 ​ 5,159 Vehicles ​ 223 ​ 63 Furniture and fixtures ​ 692 ​ 519 Leasehold improvements ​ ​ 14,932 ​ ​ 14,559 Construction-in-progress ​ 65,411 ​ 5,283 ​ ​ 105,887 ​ 43,339 Less: Accumulated depreciation ​ (17,120) ​ (12,913) Property and equipment, net ​ $ 88,767 ​ $ 30,426 ​ Construction-in-progress is primarily comprised of tooling necessary in the production of the Company’s vehicles. Completed tooling assets will be transferred to their respective asset classes and depreciation will begin when an asset is ready for its intended use. As of June 30, 2021, manufacturing has not begun and therefore no depreciation on tooling has been recognized to date. ​ Depreciation expense for property and equipment was $2.1 million and $4.2 million for the three and six months ended June 30, 2021, respectively. Depreciation expense for property and equipment was $1.8 million and $3.4 million for the three and six months ended June 30, 2020, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2021
Accrued Expenses
Accrued Expenses and Other Current Liabilities	6. Accrued Expenses and Other Current Liabilities Accrued expenses consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Accrued property and equipment purchases ​ $ 30,474 ​ $ 3,992 Accrued research and development purchases ​ 14,707 ​ 2,420 Accrued professional fees ​ 11,097 ​ 1,386 Other accrued expenses ​ ​ 8,190 ​ ​ 2,827 Total accrued expenses ​ $ 64,468 ​ $ 10,625 ​

Long-term debt

Long-term debt	6 Months Ended
	Jun. 30, 2021
Debt
Long-term debt	7. Long-term debt On July 7, 2020, Legacy Canoo entered into a promissory note for loan proceeds under the Paycheck Protection Program (the “PPP”) (the “PPP Loan”) administered by the Small Business Administration (“SBA”) established under Division A, Title I of the CARES Act. Loan advance proceeds were received by the Company during the six months ended June 30, 2020, and therefore was accounted for as a financing cash inflow in the condensed consolidated statement of cash flows for the six months ended June 30, 2020. The PPP provides for loans to qualifying businesses for amounts up to 2.5 times the average monthly payroll expenses of the business, subject to certain limitations. The Company used the PPP Loan proceeds for purposes consistent with the provisions of the PPP. As of May 14, 2021, the Company repaid its PPP Loan in full, which was accounted for as a financing cash outflow in the condensed consolidated statement of cash flows for the six months ended June 30, 2021.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies Lease Commitments Refer to Note 9 for information regarding operating lease commitments. Legal Proceedings From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. Some of these claims, lawsuits and other proceedings may involve highly complex issues that are subject to substantial uncertainties, and could result in damages, fines, penalties, non-monetary sanctions or relief. On April 2, 2021 and April 9, 2021, the Company was named as a defendant in putative class action complaints filed in California on behalf of individuals who purchased or acquired shares of the Company’s stock during a specified period. Through the complaint, plaintiffs are seeking, among other things, compensatory damages. On June 25, 2021, the Company was named as a nominal defendant in a stockholder derivative complaint filed in Delaware. Through the stockholder derivative complaint, the plaintiff is asserting claims against certain of the Company’s current and former officers and directors and seeking, among other things, damages. However, the final determinations of liability arising from these litigation matters will only be made following comprehensive investigations and litigation processes. In addition, on April 29, 2021, the SEC’s Division of Enforcement advised that it has opened an investigation related to, among other things, HCAC’s initial public offering, HCAC’s merger with the Company and the concurrent PIPE offering, historical movements in the Company, the Company’s operations, business model, revenues, revenue strategy, customer agreements, earnings, and other related topics, along with the recent departures of certain of the Company’s officers. The SEC has informed the Company that its current investigation is a fact-finding inquiry. The SEC has also informed the Company that the investigation does not mean that it has concluded that anyone has violated the law, and does not mean that it has a negative opinion of any person, entity or security. We are providing the requested information and cooperating fully with the SEC investigation. At this time, the Company does not consider any such claims, lawsuits or proceedings that are currently pending, individually or in the aggregate, including the matters referenced above, to be material to the Company’s business or likely to result in a material adverse effect on its future operating results, financial condition or cash flows should such proceedings be resolved unfavorably.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions On February 28, 2018, Legacy Canoo, via a wholly owned subsidiary, entered into a lease for an office facility in Torrance, California (“Torrance lease”) with an entity controlled by certain investors of Legacy Canoo, which was assigned to another entity controlled by certain investors of Legacy Canoo, on April 30, 2018. The original lease term is 15 years 5 years 3 months The Torrance lease and Justin lease contain the option to extend the terms of the leases for two additional 60-month 60-month The Company has determined that the leases do not effectively transfer control of the underlying facilities to the Company based on the lease terms and, accordingly, the Company has classified the leases as operating leases. As such, the rent and property taxes are expensed on a straight-line basis in the condensed consolidated statements of operations. Related party lease expense related to these leases was $0.6 million and $1.1 million for the three and six months ended June 30, 2021, respectively. Related party lease expense related to these operating leases was $0.5 million and $0.9 million for the three and six months ended June 30, 2020, respectively. In June 2021, the Torrance lease property was sold to a non-related party lessor. The change in lessor did not impact the terms and conditions of the Torrance lease. As such, payments made to the new landlord will not be considered as a related party lease expense. ​ The weighted average remaining lease term at June 30, 2021 and December 31, 2020 was 11.3 12.3 Maturities of the Company’s operating lease liabilities at June 30, 2021 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Operating ​ Lease 2021 (excluding the six months ended June 30, 2021) ​ $ 893 2022 ​ 1,823 2023 ​ 1,878 2024 ​ 1,934 2025 ​ 1,992 Thereafter ​ 14,167 Total lease payments ​ 22,687 Less: imputed interest (1) ​ 8,075 Present value of operating lease liabilities ​ 14,612 Current portion of operating lease liabilities ​ 671 Operating lease liabilities, net of current portion ​ $ 13,941 (1) Calculated using the incremental borrowing rate On November 25, 2020, Legacy Canoo entered into an agreement, which remains in effect, with Tony Aquila, Executive Chairman and Chief Executive Officer of the Company to reimburse Mr. Aquila for certain air travel expenses based on certain agreed upon criteria (“aircraft reimbursement”). The total aircraft reimbursement to Mr. Aquila for the use of an aircraft owned by Aquila Family Ventures, LLC (“AFV”), an entity controlled by Mr. Aquila, for the purposes related to the business of the Company for the three and six months ended June 30, 2021 was approximately $0.4 million and $1.0 million, respectively.

Contingent Earnout Shares Liabi

Contingent Earnout Shares Liability	6 Months Ended
	Jun. 30, 2021
Embedded Derivative
Contingent Earnout Shares Liability	10. Contingent Earnout Shares Liability As part of the Business Combination, certain stockholders and employees are entitled to additional consideration in the form of Earnout Shares of the Company’s common stock to be issued when the Company’s common stock’s price achieves certain market share price milestones within specified periods following the Business Combination on December 21, 2020. The Earnout Shares do not have employment requirement and will be issued in tranches based on the following conditions: 1. If the closing share price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within any consecutive 30-trading day period prior to the two-year anniversary of the Closing Date (“$18 Milestone”), then the Company is required to issue an aggregate of 5.0 million shares of its common stock to holders with the contingent right to receive Earnout Shares. These Earnout Shares may instead be issued in the event of a Change of Control (as defined in the Merger Agreement) prior to the two-year anniversary of the Closing Date if the per share consideration in such transaction is at least $18. 2. If the closing share price of the Company’s common stock equals or exceeds $25.00 per share for any 20 trading days within any consecutive 30-trading day period prior to the four-year anniversary of the Closing Date (“$25 Milestone”), then the Company is required to issue an aggregate of 5.0 million shares of its common stock to holders with the contingent right to receive Earnout Shares. These Earnout Shares may instead be issued in the event of a Change of Control (as defined in the Merger Agreement) prior to the four-year anniversary of the Closing Date if the per share consideration in such transaction is at least $25. 3. If the closing share price of the Company’s common stock equals or exceeds $30.00 per share for any 20 trading days within any consecutive 30-trading day period prior to the five-year anniversary of the Business Combination Closing Date (“$30 Milestone”), then the Company is required to issue an aggregate of 5.0 million shares of its common stock to holders with the contingent right to receive Earnout Shares. These Earnout Shares may instead be issued in the event of a Change of Control (as defined in the Merger Agreement) prior to the five-year anniversary of the Closing Date if the per share consideration in such transaction is at least $30. Pursuant to the guidance under ASC 815, Derivatives and Hedging, the right to Earnout Shares was classified as a Level 3 fair value measurement liability, and the increase or decrease in the fair value during the reporting period is recognized as other expense or other income in the condensed consolidated statement of operations accordingly. The fair value of the Earnout Shares liability was estimated using the Monte Carlo simulation of the stock prices based on historical and implied market volatility of a peer group of public companies. As of December 21, 2020, the initial fair value of the Earnout Shares liability was recognized at $248.9 million with a corresponding reduction from the additional paid-in capital in stockholders’ (deficit) equity. As of June 30, 2021 and December 31, 2020, the fair value of the Earnout Shares liability was estimated to be $58.1 million and $133.5 million, respectively. The Company recognized a gain (loss) on the fair value change in Earnout Shares liability of ($8.2) million and $75.4 million as other income (expense) in its condensed consolidated statement of operations for the three and six months ended June 30, 2021.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2021
Stock-based Compensation
Stock-based Compensation	11. Stock-based Compensation On the Closing Date of the Business Combination, the Legacy Canoo 2018 Equity Plan was converted to the Company’s 2018 Equity Plan with the Legacy Canoo ordinary shares authorized for issuance pursuant to previously issued awards converted at the Exchange Ratio of 1.239434862 to the Company’s common stock and the exercise price per option and purchase price per restricted shares decreased proportionately by the same conversion ratio. See additional discussion on the retroactive application of recapitalization in Note 2 of the Notes to the Consolidated Financial Statements in Part II, Item 8 of the Annual Report on Form 10-K. Stock Options All employees are eligible to be granted options to purchase shares of the Company’s common stock under the Company’s equity plans. All options granted will expire ten years from their date of issuance. Stock options granted generally vest 25% on the one-year three years Under the Legacy Canoo 2018 Equity Plan, employees may exercise stock options prior to vesting. The Company has the right to repurchase any unvested (but issued) shares upon termination of service of an employee at the original exercise price. The consideration received for the early exercise of an option is considered to be a deposit and the related amount is recorded as a liability. Restricted Stock Awards (“RSAs”) The Company’s RSAs consist of restricted shares. From November 4, 2018 to May 6, 2019, Legacy Canoo sold restricted shares to its founders, which include certain investors, for a converted purchase price of $0.008 per share (the “Founder Restricted Shares”), with the following vesting conditions: 12.5% vest when the Legacy Canoo achieves $100 million in cumulative funding from inception (which condition was satisfied December 18, 2018, accordingly this portion of the 2019 awards was vested upon issuance); 37.5% vest ratably over a period of thirty-six months from December 18, 2018; and 50% vest on the date the Company starts commercial production of its first vehicle (“SOP”), which the Company determined was not probable of being met as of December 31, 2020. On December 18, 2020, Legacy Canoo approved an amendment to change the SOP vesting goal of all eligible Founder Restricted Shares held by Legacy Canoo’s executives to time-based vesting with a merger trigger, which was satisfied on December 21, 2020. The investor-held Founder Restricted Shares’ SOP vesting goal was not amended. The amended time-based vesting of the SOP portion has a cliff vesting of 25% on March 18, 2020 with the remaining shares vesting quarterly over 36 months thereafter. The amendment was accounted for as a grant modification in December 2020. The Company has an irrevocable, exclusive option to repurchase all or any portion of the unvested Founder Restricted Shares at the converted original per share purchase price for the shares upon termination or the cessation of services provided by the stockholder. Restricted Stock Units (“RSUs”) Under the 2020 Equity Incentive Plan, employees are compensated through various forms of equity, including RSUs. Each RSU represents a contingent right to receive one share of the Company’s common stock. During the three months ended June 30, 2021, 4,876,563 RSUs were granted subject to time-based vesting. During the six months ended June 30, 2021, 6,985,548 RSUs were granted, of which 998,994 vested immediately and the remainder subject to time-based vesting. On May 14, 2021, the Company awarded 500,000 RSUs to the Company’s Executive Chairman and Chief Executive Officer (“CEO”). The RSUs vest in one-third increments on the first, second, and third anniversaries of the vesting commencement date, December 21, 2020, subject to continuous service. Performance-Based Restricted Stock Units (“PSUs”) PSUs represent the right to receive a share of the Company’s common stock if service, performance, and market conditions, or a combination thereof, are met over a defined period. PSUs that contain a market condition, such as stock price milestones, are subject to a Monte-Carlo simulation model to determine the grant date fair value by simulating a range of possible future stock prices for the Company over the performance period. The grant date fair value of the market condition PSUs is recognized as compensation expense over the greater of the Monte Carlo simulation model’s derived service period and the arrangement’s explicit service period, assuming both conditions must be met. ​ PSUs subject to performance conditions, such as operational milestones, are measured on the grant date, the total fair value of which is calculated as the product of the number of PSUs and the grant date stock price. Compensation expense for PSUs with a performance condition is recorded each period based upon a probability assessment of the expected outcome of the performance metric with a final adjustment upon measurement at the end of the performance period. The following PSUs were granted to the CEO during the three months ended June 30, 2021, with a total grant date fair value of approximately $15.9 million: ​ ● During April 2021, in connection with the appointment of the CEO, the Company awarded 2,000,000 PSUs. The PSUs will vest in one-third increments based upon the achievement of certain stock price milestones during the performance period ending October 2025. In addition, the PSUs are subject to a service condition which requires continuous service through October 2023; ​ ● During May 2021, the Company awarded 1,703,828 PSUs. The PSUs vest based on the Company's achievement of certain specified stock price milestones over a three-year performance period ending May 2024, subject to continued service with the Company through the applicable vesting dates; and ​ ● During May 2021, the Company awarded 300,000 PSUs whereby vesting depends upon the occurrence of certain operational milestone events by May 2024. As of grant date, the Company’s analysis determined that these operational milestone events are probable of achievement and as such, compensation expense has been recognized for the three and six months ended June 30, 2021. ​ The following table summarizes the Company’s stock-based compensation expense by line item for the three- and six months ended periods presented in the condensed consolidated statements of operations (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ June 30, ​ June 30, ​ 2021 2020 ​ 2021 2020 Research and development $ 8,541 $ 226 ​ $ 15,630 $ 463 Selling, general and administrative ​ 16,973 ​ 125 ​ ​ 55,030 ​ 277 Total $ 25,514 $ 351 ​ $ 70,660 $ 740 ​ The Company’s total unrecognized compensation cost as of June 30, 2021 was $108.5 million.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2021
Warrants
Warrants	12. Warrants As of June 30, 2021, the Company had 23,757,681 public warrants outstanding. Each public warrant entitles the registered holder to purchase one share of the Company’s common stock at a price of $11.50 per share, subject to adjustment. The public warrants will expire on the fifth anniversary of the Closing Date of the Business Combination, or earlier upon redemption or liquidation. The Company may call the public warrants for redemption: ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon a minimum of 30 days prior written notice of redemption; and ● if, and only if, the last reported closing price of the Company’s common stock equals or exceeds $18.00 per share for any 20 trading days within a 30 -trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. If the Company calls the public warrants for redemption, management will have the option to require all holders that wish to exercise the public warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance of common stock at a price below its exercise price. On March 2, 2021, all of the private placement warrants were converted to public warrants. As noted in Note 3, the private placement warrants were accounted for as a liability until the private placement warrants were converted to public warrants. Additionally, during the quarter ended March 31, 2021, 597,114 public warrants were exercised for total proceeds of $6.9 million. No public warrants were exercised during the three months ended June 30, 2021.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2021
Net Loss per Share
Net Loss per Share	13. Net Loss per Share The condensed consolidated statements of operations include the basic and diluted net loss per share. The following table presents the potential shares that were excluded from the computation of diluted net loss per share, because their effect was anti-dilutive as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2021 2020 Early exercise of unvested stock options 3,965 8,921 Options to purchase common stock 297 433 Restricted common stock shares 5,944 14,287 Restricted and performance stock units 15,808 ​ — ​

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Taxes
Income Taxes	14. Income Taxes As the Company has not generated any taxable income since inception, the cumulative deferred tax assets remain fully offset by a valuation allowance, and no benefit from federal or state income taxes has been included in the condensed consolidated financial statements. ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events
Subsequent Events	15. Subsequent Events ​ Effective July 30, 2021, the Company amended its Justin lease to extend the leased square footage for the duration of the arrangement term. ​ The Company has analyzed its operations subsequent to June 30, 2021 through the date these financial statements were issued, including the information disclosed in Note 8, and has determined that it does not have any additional material subsequent events to disclose. ​

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation	These unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States (“GAAP”) for interim reporting. Accordingly, certain notes or other information that are normally required by GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. Accordingly, the unaudited condensed consolidated financial statements should be read in connection with the Company’s audited financial statements and related notes as of and for the year ended December 31, 2020 (“Annual Report on Form 10-K”). Results of operations reported for interim periods are not necessarily indicative of results for the entire year. In the opinion of management, the Company has made all adjustments necessary to present fairly its condensed consolidated financial statements for the periods presented. Such adjustments are of a normal, recurring nature.
Consolidation	The accompanying unaudited condensed consolidated financial statements include the results of the Company and its subsidiaries. The Company’s comprehensive loss is the same as its net loss.
Material changes	Except for any updates below, no material changes have been made to the Company’s significant accounting policies disclosed in Note 2 of the Notes to the Consolidated Financial Statements in Part II, Item 8 of the Annual Report on Form 10-K.
Retroactive Application of Recapitalization	Retroactive Application of Recapitalization The Business Combination on December 21, 2020 was accounted for as a recapitalization of equity structure. Pursuant to GAAP, the Company retrospectively recasted the weighted-average shares included within its condensed consolidated statements of operations for the three and six months ended June 30, 2020. Legacy Canoo redeemable convertible preference shares – Angel Series (“Angel Shares”) and Legacy Canoo redeemable convertible preference shares – Seed Series (“Seed Shares”) were converted to Legacy Canoo A series redeemable convertible preference shares and later were exchanged into Legacy Canoo ordinary shares. The basic and diluted weighted-average Legacy Canoo ordinary shares are retroactively converted to shares of the Company’s common stock to conform to the recasted condensed consolidated statements of stockholders' equity (deficit). The following table summarizes the weighted-average common stock of the Company, basic and diluted for the three and six months ended June 30, 2020 after factoring all retroactive application of recapitalization. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/21/20 ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Merger ​ Recapitalized ​ Days ​ ​ ​ Average ​ ​ ​ ​ As ​ Conversion ​ Common ​ Outstanding ​ % of ​ Common Date ​ Description ​ Calculated ​ Ratio ​ Stock ​ in 2020 ​ weighting ​ Shares 3 months ended 6/30/2020 ​ Weighted-average shares, basic and diluted ​ 8,235,927 ​ 1.24 ​ 10,207,895 ​ ​ ​ 100 % 10,207,895 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2018 Angel Shares ​ ​ ​ ​ 51,316,627 91 100 % 51,316,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3/4/2019 Seed Shares ​ ​ ​ ​ 11,107,496 91 100 % 11,107,496 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5/6/2019 Seed Shares ​ ​ ​ ​ 11,107,495 91 100 % 11,107,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 83,739,513 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/21/20 ​ ​ ​ Weighted ​ ​ ​ ​ As ​ Merger ​ Recapitalized ​ Days ​ ​ ​ Average ​ ​ ​ ​ Previously ​ Conversion ​ Common ​ Outstanding ​ % of ​ Common Date ​ Description ​ Reported ​ Ratio ​ Stock ​ in 2020 ​ weighting ​ Shares 6 months ended 6/30/2020 ​ Weighted-average shares, basic and diluted ​ 7,514,282 ​ 1.24 ​ 9,313,463 ​ ​ ​ 100 % 9,313,463 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2018 Angel Shares ​ ​ ​ ​ 51,316,627 182 100 % 51,316,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3/4/2019 Seed Shares ​ ​ ​ ​ 11,107,496 182 100 % 11,107,496 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5/6/2019 Seed Shares ​ ​ ​ ​ 11,107,495 182 100 % 11,107,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 82,845,081
COVID-19	COVID-19 Beginning in the first quarter of 2021 and continuing in the second quarter of 2021, there has been increasing availability and administration of vaccines against COVID-19 in many parts of the world, as well as an easing of restrictions on social, business, travel and government activities and functions. On the other hand, virus variants, infection rates and regulations continue to fluctuate in various regions and there are ongoing global impacts resulting from the pandemic, including challenges and increases in costs for logistics and supply chains and intermittent supplier delays. The Company has also previously been affected by temporary facility closures, employment and compensation adjustments, and impediments to administrative activities supporting its product research and development. Ultimately, the Company cannot predict the duration or severity of the COVID-19 pandemic or any variant thereof. The Company will continue to monitor macroeconomic conditions to remain flexible and to optimize and evolve its business as appropriate, and the Company will have to project demand and infrastructure requirements globally and deploy its workforce and other resources accordingly.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company applies the provisions of ASC 820, Fair Value Measurements and Disclosures ● Level 1 Quoted prices in active markets for identical assets or liabilities. ● Level 2 Observable inputs other than Level 1 quoted prices, such as quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active for identical or similar assets and liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 Valuations are based on inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. ​ Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as required by ASC 820, by level, within the fair value hierarchy as of June 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ Fair Value Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money Market Funds ​ $ 563,565 ​ $ 563,565 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability ​ ​ ​ ​ Contingent earnout shares liability ​ $ 58,101 ​ $ — ​ $ — ​ $ 58,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Fair Value Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money Market Funds ​ $ 702,422 ​ $ 702,422 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability ​ ​ ​ ​ ​ Contingent earnout shares liability ​ $ 133,503 ​ $ — ​ $ — ​ $ 133,503 Private placement warrants liability ​ $ 6,613 ​ $ — ​ $ 6,613 ​ $ — ​ As described in Note 10, the Company has a contingent obligation to issue 15.0 million shares of the Company’s common stock to certain stockholders and employees upon the achievement of certain market share price milestones within specified periods following the Business Combination (the “Earnout Shares”). Upon the occurrence of a bankruptcy or liquidation, any unissued Earnout Shares would be fully issued regardless of whether the share price target has been met. The Earnout Shares are accounted for as a contingent liability and its fair value is determined using Level 3 inputs, since estimating the fair value of this contingent liability requires the use of significant and subjective inputs that may and are likely to change over the duration of the liability with related changes in internal and external market factors. The tranches were valued using the Monte Carlo simulation of the stock prices based on historical and implied market volatility of a peer group of public companies. Additionally, as described in Note 12, the private placement warrants that were outstanding were converted to public warrants on March 2, 2021. The private placement warrants are accounted for as a liability and its fair value is determined using Level 2 inputs, since the Company’s public warrants are actively traded and the Company’s private placement warrants have terms and provisions that are identical to those of the public warrants. Following is a summary of the change in fair value of contingent Earnout Shares liability and private placement warrants liability for the six months ended June 30, 2021 (in thousands). ​ Earnout Shares Liability ​ ​ ​ ​ ​ Beginning fair value at December 31, 2020 ​ $ 133,503 Change in fair value during the period ​ ​ (75,402) Ending fair value at June 30, 2021 ​ $ 58,101 ​ Private Placement Warrants Liability ​ ​ ​ ​ ​ Beginning fair value at December 31, 2020 ​ $ 6,613 Change in fair value during the period ​ ​ 1,639 Conversion of private placement warrants to public warrants ​ ​ (8,252) Ending fair value at June 30, 2021 ​ $ —

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ Fair Value Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money Market Funds ​ $ 563,565 ​ $ 563,565 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability ​ ​ ​ ​ Contingent earnout shares liability ​ $ 58,101 ​ $ — ​ $ — ​ $ 58,101 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Fair Value Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money Market Funds ​ $ 702,422 ​ $ 702,422 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liability ​ ​ ​ ​ ​ Contingent earnout shares liability ​ $ 133,503 ​ $ — ​ $ — ​ $ 133,503 Private placement warrants liability ​ $ 6,613 ​ $ — ​ $ 6,613 ​ $ —
Summary of the change in fair value of contingent earnout shares liability	​ ​ ​ ​ ​ Beginning fair value at December 31, 2020 ​ $ 133,503 Change in fair value during the period ​ ​ (75,402) Ending fair value at June 30, 2021 ​ $ 58,101
Summary of the change in fair value of warrant liability	​ ​ ​ ​ ​ Beginning fair value at December 31, 2020 ​ $ 6,613 Change in fair value during the period ​ ​ 1,639 Conversion of private placement warrants to public warrants ​ ​ (8,252) Ending fair value at June 30, 2021 ​ $ —
Retroactive Application of Recapitalization [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Schedule of retroactive recapitalization	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/21/20 ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Merger ​ Recapitalized ​ Days ​ ​ ​ Average ​ ​ ​ ​ As ​ Conversion ​ Common ​ Outstanding ​ % of ​ Common Date ​ Description ​ Calculated ​ Ratio ​ Stock ​ in 2020 ​ weighting ​ Shares 3 months ended 6/30/2020 ​ Weighted-average shares, basic and diluted ​ 8,235,927 ​ 1.24 ​ 10,207,895 ​ ​ ​ 100 % 10,207,895 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2018 Angel Shares ​ ​ ​ ​ 51,316,627 91 100 % 51,316,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3/4/2019 Seed Shares ​ ​ ​ ​ 11,107,496 91 100 % 11,107,496 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5/6/2019 Seed Shares ​ ​ ​ ​ 11,107,495 91 100 % 11,107,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 83,739,513 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/21/20 ​ ​ ​ Weighted ​ ​ ​ ​ As ​ Merger ​ Recapitalized ​ Days ​ ​ ​ Average ​ ​ ​ ​ Previously ​ Conversion ​ Common ​ Outstanding ​ % of ​ Common Date ​ Description ​ Reported ​ Ratio ​ Stock ​ in 2020 ​ weighting ​ Shares 6 months ended 6/30/2020 ​ Weighted-average shares, basic and diluted ​ 7,514,282 ​ 1.24 ​ 9,313,463 ​ ​ ​ 100 % 9,313,463 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12/31/2018 Angel Shares ​ ​ ​ ​ 51,316,627 182 100 % 51,316,627 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3/4/2019 Seed Shares ​ ​ ​ ​ 11,107,496 182 100 % 11,107,496 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5/6/2019 Seed Shares ​ ​ ​ ​ 11,107,495 182 100 % 11,107,495 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 82,845,081

Immaterial correction of prio_2

Immaterial correction of prior period financial statements (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting For Derivative Liability [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Schedule of immaterial correction for derivative liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ As Previously Warrants ​ ​ ​ Reported ​ adjustments ​ As Corrected Consolidated Balance Sheet ​ ​ ​ ​ ​ ​ Private placement warrants liability — 6,613 6,613 Total liabilities 181,615 6,613 188,228 ​ ​ ​ ​ ​ ​ ​ Stockholders' equity (deficit) Additional paid in capital 920,324 (9,745) 910,579 Accumulated deficit (348,493) 3,132 (345,361) Total stockholders' equity (deficit) 571,855 (6,613) 565,242

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2021
Property and Equipment, net
Schedule of Property and Equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Machinery and equipment ​ $ 14,293 ​ $ 15,292 Computer hardware ​ 3,468 ​ 2,464 Computer software ​ 6,868 ​ 5,159 Vehicles ​ 223 ​ 63 Furniture and fixtures ​ 692 ​ 519 Leasehold improvements ​ ​ 14,932 ​ ​ 14,559 Construction-in-progress ​ 65,411 ​ 5,283 ​ ​ 105,887 ​ 43,339 Less: Accumulated depreciation ​ (17,120) ​ (12,913) Property and equipment, net ​ $ 88,767 ​ $ 30,426

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued Expenses
Schedule of Accrued Expenses and Other Current Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Accrued property and equipment purchases ​ $ 30,474 ​ $ 3,992 Accrued research and development purchases ​ 14,707 ​ 2,420 Accrued professional fees ​ 11,097 ​ 1,386 Other accrued expenses ​ ​ 8,190 ​ ​ 2,827 Total accrued expenses ​ $ 64,468 ​ $ 10,625

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of Maturities of the Company's operating lease liabilities	​ ​ ​ ​ ​ ​ ​ Operating ​ Lease 2021 (excluding the six months ended June 30, 2021) ​ $ 893 2022 ​ 1,823 2023 ​ 1,878 2024 ​ 1,934 2025 ​ 1,992 Thereafter ​ 14,167 Total lease payments ​ 22,687 Less: imputed interest (1) ​ 8,075 Present value of operating lease liabilities ​ 14,612 Current portion of operating lease liabilities ​ 671 Operating lease liabilities, net of current portion ​ $ 13,941 (1) Calculated using the incremental borrowing rate

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Stock-based Compensation
Summary of stock-based compensation expense by line item	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ June 30, ​ June 30, ​ 2021 2020 ​ 2021 2020 Research and development $ 8,541 $ 226 ​ $ 15,630 $ 463 Selling, general and administrative ​ 16,973 ​ 125 ​ ​ 55,030 ​ 277 Total $ 25,514 $ 351 ​ $ 70,660 $ 740

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Net Loss per Share
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2021 2020 Early exercise of unvested stock options 3,965 8,921 Options to purchase common stock 297 433 Restricted common stock shares 5,944 14,287 Restricted and performance stock units 15,808 ​ —

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Recapitalization (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Dec. 21, 2020	Mar. 31, 2020	Dec. 31, 2019
Reclassification [Line Items]
Stock conversion, shares received per share converted							1.239434862
Weighted-average shares outstanding, basic and diluted	226,928,000	83,739,513	225,885,000	82,845,081
Conversion Of Stock, Angel Shares [Member]
Reclassification [Line Items]
Retroactive Application of Merger Recapitalization, Share		51,316,627		51,316,627
Weighted-average shares outstanding, basic and diluted		51,316,627		51,316,627
Days outstanding		91 days		182 days
Weighting Percentage		100.00%		100.00%
Conversion Of Stock, Seed Shares Issued March 4 2019 [Member]
Reclassification [Line Items]
Retroactive Application of Merger Recapitalization, Share		11,107,496		11,107,496
Weighted-average shares outstanding, basic and diluted		11,107,496		11,107,496
Days outstanding		91 days		182 days
Weighting Percentage		100.00%		100.00%
Conversion Of Stock, Seed Shares Issued May 6 2019 [Member]
Reclassification [Line Items]
Retroactive Application of Merger Recapitalization, Share		11,107,495		11,107,495
Weighted-average shares outstanding, basic and diluted		11,107,495		11,107,495
Days outstanding		91 days		182 days
Weighting Percentage		100.00%		100.00%
Common Stock
Reclassification [Line Items]
Stock conversion, shares received per share converted		1.239434862		1.239434862
Retroactive Application of Merger Recapitalization, Share		10,207,895		9,313,463
Shares, Outstanding	237,563,000	106,135,000	237,563,000	106,135,000	237,499,000	235,753,000		109,262,000	108,838,000
Weighted-average shares outstanding, basic and diluted		10,207,895		9,313,463
Weighting Percentage		100.00%		100.00%
Previously Reported | Common Stock
Reclassification [Line Items]
Weighted-average shares outstanding, basic and diluted		8,235,927		7,514,282

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value, Contingent Liability (Details) - USD ($) $ in Thousands, shares in Millions	Dec. 31, 2020	Dec. 21, 2020	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Addition/Recognition of contingent earnout share liability		$ 248,900
Gain on fair value change in contingent earnout share liability			$ 8,157		$ (75,402)
Change in fair value during the period, warrants	$ (3,100)				1,639
Conversion of private placement warrants to public warrants				$ (8,252)	(8,252)
Earn Out Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				133,500	133,500
Liabilities, ending fair value	133,500		58,100		58,100
Earn Out Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				133,503	133,503
Gain on fair value change in contingent earnout share liability					(75,402)
Liabilities, ending fair value	133,503		58,101		58,101
Warrant Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				6,613	6,613
Change in fair value during the period, warrants					1,639
Conversion of private placement warrants to public warrants					(8,252)
Liabilities, ending fair value	6,613
Recurring | Earn Out Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				133,503	133,503
Liabilities, ending fair value	133,503		58,101		58,101
Recurring | Warrant Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				6,613	6,613
Liabilities, ending fair value	6,613
Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	702,422		563,565		563,565
Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	702,422		563,565		563,565
Recurring | Level 2 | Warrant Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				6,613	6,613
Liabilities, ending fair value	6,613
Recurring | Level 3 | Earn Out Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, beginning fair value				$ 133,503	133,503
Liabilities, ending fair value	$ 133,503		$ 58,101		$ 58,101
Business Combination | Earn Out Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of shares issued or issuable					15

Immaterial correction of prio_3

Immaterial correction of prior period financial statements (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2021	Mar. 31, 2021	Dec. 21, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Private placement warrants liability	$ 6,613			$ 9,700
Gain on change in fair value	(3,100)	$ 1,639
Retained Earnings (Accumulated Deficit)	(345,361)	(473,142)
Additional Paid in Capital	910,579	996,354
Liabilities	188,228	188,288
Stockholders' Equity Attributable to Parent	565,242	$ 523,236	$ 610,278		$ (101,020)	$ (78,105)	$ (55,868)
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Retained Earnings (Accumulated Deficit)	(348,493)
Additional Paid in Capital	920,324
Liabilities	181,615
Stockholders' Equity Attributable to Parent	571,855
Accounting For Derivative Liability [Member] | Revision of Prior Period, Reclassification, Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Private placement warrants liability	6,613
Retained Earnings (Accumulated Deficit)	3,132
Additional Paid in Capital	(9,745)
Liabilities	6,613
Stockholders' Equity Attributable to Parent	$ (6,613)

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	$ 105,887		$ 105,887		$ 43,339
Less: Accumulated depreciation	(17,120)		(17,120)		(12,913)
Property and Equipment, net	88,767		88,767		30,426
Depreciation	2,083	$ 1,756	4,207	$ 3,441
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	14,293		14,293		15,292
Computer hardware
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	3,468		3,468		2,464
Computer software
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	6,868		6,868		5,159
Vehicles
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	223		223		63
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	692		692		519
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	14,932		14,932		14,559
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, Gross	$ 65,411		$ 65,411		$ 5,283

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued Expenses
Accrued property and equipment purchases	$ 30,474	$ 3,992
Accrued research and development costs	14,707	2,420
Accrued professional fees	11,097	1,386
Other accrued expenses	8,190	2,827
Total accrued expenses	$ 64,468	$ 10,625

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)item	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Percentage of escalation clause per annum			3.00%
Operating lease right-of-use assets	$ 14,418		$ 14,418		$ 12,913
Operating lease liabilities	14,612		14,612
Current portion of operating lease liabilities	$ 671		$ 671
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current		Accrued Liabilities, Current
Weighted average remaining lease term	11 years 3 months 18 days		11 years 3 months 18 days		12 years 3 months 18 days
Maturities of operating lease liabilities
April 1, 2021 to December 31, 2021	$ 893		$ 893
2022	1,823		1,823
2023	1,878		1,878
2024	1,934		1,934
2025	1,992		1,992
Thereafter	14,167		14,167
Total lease payments	22,687		22,687
Less: imputed interest	8,075		8,075
Present value of operating lease liabilities	14,612		14,612
Current portion of operating lease liabilities	671		671
Operating lease liabilities, net of current portion	13,941		13,941		$ 13,262
Related Party Lease [Member]
Related Party Transaction [Line Items]
Related party transaction amount	$ 600	$ 500	$ 1,100	$ 900
Investor
Related Party Transaction [Line Items]
Term of lease	15 years		15 years
Number of options to extend the lease term | item			2
Lease extension period	60 months		60 months
Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Term of lease	5 years 3 months		5 years 3 months
Number of options to extend the lease term | item			1
Lease extension period	60 months		60 months
Board of Directors Chairman [Member] | Related Party Aircraft Expense Reimbursement [Member]
Related Party Transaction [Line Items]
Related party transaction amount	$ 400		$ 1,000

Contingent Earnout Shares Lia_2

Contingent Earnout Shares Liability (Details) $ / shares in Units, $ in Thousands, shares in Millions	Dec. 21, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)D$ / sharesshares	Dec. 31, 2020USD ($)
Embedded Derivative [Line Items]
Addition/Recognition of contingent earnout share liability | $	$ 248,900
(Loss) gain on fair value change in contingent earnout shares liability | $		$ (8,157)	$ 75,402
Earn Out Shares [Member]
Embedded Derivative [Line Items]
Fair value of derivative liability | $		$ 58,100	$ 58,100	$ 133,500
Earn Out Shares [Member] | Business Combination
Embedded Derivative [Line Items]
Number of shares issued or issuable | shares			15
Contingent Consideration, Earnout Shares, Tranche 1 [Member]
Embedded Derivative [Line Items]
Earnout share price target | $ / shares			$ 18
Number of days to exceed target price			20
Number of consecutive days in period for exceeding price			30
Share price target period			2 years
Contingent Consideration, Earnout Shares, Tranche 1 [Member] | Business Combination
Embedded Derivative [Line Items]
Number of shares issued or issuable | shares			5
Contingent Consideration, Earnout Shares, Tranche 2 [Member]
Embedded Derivative [Line Items]
Earnout share price target | $ / shares			$ 25
Number of days to exceed target price			20
Number of consecutive days in period for exceeding price			30
Share price target period			4 years
Contingent Consideration, Earnout Shares, Tranche 2 [Member] | Business Combination
Embedded Derivative [Line Items]
Number of shares issued or issuable | shares			5
Contingent Consideration, Earnout Shares, Tranche 3 [Member]
Embedded Derivative [Line Items]
Earnout share price target | $ / shares			$ 30
Number of days to exceed target price			20
Number of consecutive days in period for exceeding price			30
Share price target period			5 years
Contingent Consideration, Earnout Shares, Tranche 3 [Member] | Business Combination
Embedded Derivative [Line Items]
Number of shares issued or issuable | shares			5

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options (Details) - shares	6 Months Ended
	Jun. 30, 2021	Dec. 21, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchange ratio		1.239434862
Options to purchase common shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Options to purchase common shares | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Vesting period	1 year
Options to purchase common shares | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

Stock-based Compensation - Rest

Stock-based Compensation - Restricted shares (Details) - Restricted common shares - USD ($) $ / shares in Units, $ in Millions	Dec. 18, 2020	Dec. 17, 2020
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Purchase price per share		$ 0.008
Vesting percentage	25.00%
Vesting period	36 months
Share-based Payment Arrangement, Tranche One
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Vesting percentage		12.50%
Cumulative funding trigger for vesting		$ 100
Share-based Payment Arrangement, Tranche Two
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Vesting percentage		37.50%
Vesting period		36 months
Share-based Payment Arrangement, Tranche Three
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Vesting percentage		50.00%

Stock-based Compensation - RSAs

Stock-based Compensation - RSAs, RSUs, PSUs (Details) - USD ($) $ in Millions	May 14, 2021	May 31, 2021	Apr. 30, 2021	Jun. 30, 2021	Jun. 30, 2021
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares per unit					1
Granted				4,876,563	6,985,548
Vested					998,994
Chief Executive Officer [Member] | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	500,000
Chief Executive Officer [Member] | PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted			2,000,000
Grant date fair value				$ 15.9	$ 15.9
Chief Executive Officer [Member] | PSUs | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		1,703,828
Vesting period		3 years
Chief Executive Officer [Member] | PSUs | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		300,000

Stock-based Compensation - Expe

Stock-based Compensation - Expense and unrecognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 25,514	$ 351	$ 70,660	$ 740
Total unrecognized compensation cost related to options	108,500		108,500
Research and development expense.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	8,541	226	15,630	463
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 16,973	$ 125	$ 55,030	$ 277

Warrants (Details)

Warrants (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021$ / sharesshares	Mar. 31, 2021USD ($)shares	Jun. 30, 2021USD ($)D$ / sharesshares
Class of Warrant or Right [Line Items]
Shares of common stock per warrant | shares	1		1
Warrant exercise price | $ / shares	$ 11.50		$ 11.50
Redemption price | $ / shares			$ 0.01
Minimum period for written notice of redemption			30 days
Closing price | $ / shares			$ 18
Trading days | D			20
Consecutive trading days			30 days
Proceeds from exercise of public warrants (shares) | shares	0	597,114
Proceeds from public warrants exercised | $		$ 6,900	$ 6,867
Public Warrants
Class of Warrant or Right [Line Items]
Warrants outstanding | shares	23,757,681		23,757,681

Net Loss per Share (Details)

Net Loss per Share (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Early exercise of unvested share options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	3,965	8,921
Options to purchase common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	297	433
Restricted common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	5,944	14,287
RSUs And PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	15,808

Income Taxes (Details)

Income Taxes (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Current Federal, State and Local, Tax Expense (Benefit) [Abstract]
Income tax expense	$ 0	$ 0