Rivian Automotive (RIVN) 10-Q 11 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 27, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-41042
Entity Registrant Name	Rivian Automotive, Inc. / DE
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	14600 Myford Road
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92606
Entity Tax Identification Number	47-3544981
City Area Code	(888)
Local Phone Number	748-4261
Title of 12(b) Security	Class A common stock, $0.001 par value per share
Trading Symbol	RIVN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001874178
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		892,832,659
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		7,825,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets, Current [Abstract]
Cash and cash equivalents (Note 2)	$ 16,432	$ 18,133
Accounts receivable, net (Note 2)	22	26
Inventory (Note 2)	494	274
Other current assets	98	126
Total current assets	17,046	18,559
Property, plant, and equipment, net (Note 3)	3,396	3,183
Operating lease assets, net	270	228
Other non-current assets	585	324
Total assets	21,297	22,294
Current liabilities:
Accounts payable	571	483
Accrued liabilities (Note 5)	746	667
Customer deposits	81	74
Current portion of lease liabilities and other current liabilities	126	89
Total current liabilities	1,524	1,313
Non-current portion of long-term debt (Note 4)	1,227	1,226
Non-current lease liabilities	256	218
Other non-current liabilities	30	23
Total liabilities	3,037	2,780
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock, $0.001 par value; 10 shares authorized and 0 shares issued and outstanding as of December 31, 2021 and March 31, 2022 (Note 10)	0	0
Common stock, $0.001 par value; 3,508 and 3,508 shares authorized and 900 and 901 shares issued and outstanding as of December 31, 2021 and March 31, 2022, respectively (Note 10)	1	1
Additional paid-in capital	26,226	25,887
Accumulated deficit	(7,967)	(6,374)
Total stockholders' equity	18,260	19,514
Total liabilities and stockholders' equity	$ 21,297	$ 22,294

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	3,508,000,000	3,508,000,000
Common stock, shares issued (in shares)	901,000,000	900,000,000
Common stock, shares outstanding (in shares)	901,000,000	900,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues (Note 2)	$ 95	$ 0
Cost of revenues (Note 2)	597	0
Gross profit	(502)	0
Operating expenses
Research and development (Note 2)	547	289
Selling, general, and administrative (Note 2)	530	121
Total operating expenses	1,077	410
Loss from operations	(1,579)	(410)
Interest income	3	1
Interest expense (Note 4)	(22)	(5)
Other income, net	5	0
Loss before income taxes	(1,593)	(414)
Provision for income taxes	0	0
Net loss	(1,593)	(414)
Net loss attributable to common stockholders, basic	(1,593)	(414)
Net loss attributable to common stockholders, diluted	$ (1,593)	$ (414)
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (1.77)	$ (4.10)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (1.77)	$ (4.10)
Weighted-average common shares outstanding, basic (in shares)	901	101
Weighted-average common shares outstanding, diluted (in shares)	901	101

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,593)	$ (414)
Other comprehensive (loss) income	0	0
Comprehensive loss	$ (1,593)	$ (414)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONTINGENTLY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ (DEFICIT) EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020	504
Beginning balance at Dec. 31, 2020	$ 5,244
Contingently Redeemable Convertible Preferred Stock
Capital stock issuance (in shares)	72
Capital stock issuance	$ 2,650
Ending balance (in shares) at Mar. 31, 2021	576
Ending balance at Mar. 31, 2021	$ 7,894
Beginning balance (in shares) at Dec. 31, 2020	101
Beginning balance at Dec. 31, 2020	$ (1,384)	$ 0	$ 302	$ (1,686)
Stockholders' (Deficit) Equity
Capital stock issuance	1		1
Net loss	$ (414)			(414)
Ending balance (in shares) at Mar. 31, 2021	101
Ending balance at Mar. 31, 2021	$ (1,797)	0	303	(2,100)
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Mar. 31, 2022	0
Ending balance at Mar. 31, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	900
Beginning balance at Dec. 31, 2021	$ 19,514	$ 1	25,887	(6,374)
Stockholders' (Deficit) Equity
Capital stock issuance (in shares)		1
Capital stock issuance	1		1
Stock-based compensation	338		338
Net loss	$ (1,593)			(1,593)
Ending balance (in shares) at Mar. 31, 2022	901
Ending balance at Mar. 31, 2022	$ 18,260	$ 1	$ 26,226	$ (7,967)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (1,593)	$ (414)
Depreciation and amortization	118	14
Stock-based compensation	317	0
Inventory write-downs and losses on firm purchase commitments	188	0
Other non-cash activities	47	6
Changes in operating assets and liabilities:
Accounts receivable	4	0
Inventory	(367)	0
Other current assets	11	(11)
Other non-current assets	(6)	2
Accounts payable and accrued liabilities	201	37
Customer deposits	7	5
Other current liabilities	33	0
Other non-current liabilities	6	(1)
Net cash used in operating activities	(1,034)	(362)
Cash flows from investing activities:
Capital expenditures	(418)	(440)
Net cash used in investing activities	(418)	(440)
Cash flows from financing activities:
Proceeds from issuance of capital stock	1	2,651
Principal payments and other financing activities	(1)	(79)
Net cash provided by financing activities	0	2,572
Net change in cash	(1,452)	1,770
Cash, cash equivalents, and restricted cash—Beginning of period	18,423	3,011
Cash, cash equivalents, and restricted cash—End of period	16,971	4,781
Supplemental disclosure of non-cash investing and financing activities:
Capital expenditures included in liabilities	406	344
Right-of-use assets obtained in exchange for operating lease liabilities	$ 54	$ 34

PRESENTATION AND NATURE OF OPER

PRESENTATION AND NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
PRESENTATION AND NATURE OF OPERATIONS	PRESENTATION AND NATURE OF OPERATIONS Description and Organization Rivian Automotive, Inc. (together with its consolidated subsidiaries, “Rivian” or the “Company”) was incorporated as a Delaware corporation on March 26, 2015. Rivian was formed for the purpose of designing, developing, manufacturing, and selling category-defining electric vehicles (”EVs”), accessories, and related services directly to customers in the consumer and commercial markets. The nature of the Company’s operations during the three months ended March 31, 2021 was primarily research and development activities related to vehicle development and its related technologies, and pre-production activities related to manufacturing and sales. The nature of the Company’s operations during the three months ended March 31, 2022 was primarily the production and sale of EVs in the United States of America (“United States”). Segment Information The Company’s Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker (“CODM”). As the CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance, the Company has determined that it operates in one operating segment and one reportable segment. Basis of Presentation - Interim Financial Statements The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial information. Accordingly, they do not include all disclosures, including certain notes, required by U.S. GAAP on an annual reporting basis. These condensed consolidated financial statements are unaudited and, in the opinion of management, reflect all normal recurring adjustments necessary to fairly present the financial position, results of operations, cash flows, and change in equity for the periods presented. Results for the periods presented are not necessarily indicative of the results that may be expected for any subsequent period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (“Form 10-K”). Initial Public Offering In November 2021, the Company completed its underwritten initial public offering (“IPO”) of approximately 176 million shares of Class A common stock at a public offering price of $78.00 per share. The net proceeds to the Company from the IPO were $13.5 billion. See Note 10 “Stockholders' Equity and Net Loss Per Share” for more information regarding the IPO.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates Accounting estimates are an integral part of the condensed consolidated financial statements. These estimates require the use of judgments and assumptions that may affect the reported amounts of assets, liabilities, and expenses in the periods presented. The Company believes that the accounting estimates and related assumptions employed by the Company are appropriate and the resulting balances are reasonable under the circumstances. However, due to the inherent uncertainties involved in making estimates, the actual results could differ from original estimates, requiring adjustments to these balances in future periods. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in banks, payments due from financial institutions for the settlement of credit card and debit card transactions, and short-term, highly liquid investments with maturities of three months or less. The Company’s cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices in active markets. The cost of the Company’s cash equivalents approximated their fair values as of December 31, 2021 and March 31, 2022. The following table presents the fair value of the Company’s cash and cash equivalents (in millions): December 31, 2021 March 31, 2022 Cash $ 5,438 $ 4,261 Money market funds 11,827 10,324 Certificates of deposit 450 400 Commercial papers 268 497 United States Treasury securities 150 950 Total cash and cash equivalents $ 18,133 $ 16,432 The Company has corrected an error in the disclosure of cash equivalents as of December 31, 2021 that was not material. The disclosed fair value of money market funds was overstated by $1,221 million, and the other types of cash equivalents in the table above were not disclosed in the Form 10-K. These amounts have been corrected herein. The carrying value of cash and cash equivalents on the Consolidated Balance Sheets as of December 31, 2021 was not impacted. Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are classified as restricted cash and are primarily recorded in “Other non-current assets” on the Company’s Condensed Consolidated Statement of Operations . Restricted cash primarily consists of the balance of an account under the dominion and control of the administrative agent under the Company’s senior secured asset-based revolving credit facility (“ABL Facility”), which will be used to repay outstanding borrowings under the ABL Facility if certain specified events of default occur. See Note 4 “Debt” for more information on the ABL Facility. Total restricted cash was $290 million and $539 million as of December 31, 2021 and March 31, 2022, respectively. Accounts Receivable, Net Receivables are reported at the invoiced amount, less an allowance for any potential uncollectible amounts. The Company had no allowance for uncollectible amounts as of December 31, 2021 and March 31, 2022. Inventory and Inventory Valuation Inventory is stated at the lower of cost or net realizable value (“LCNRV”). Net realizable value (“NRV”) is the estimated selling price of inventory in the ordinary course of business, less estimated costs of completion, disposal, and transportation. During the three months ended March 31, 2022, the Company recorded a $188 million charge to reflect the NRV of inventory and losses on firm purchase commitments, in “Cost of revenues” in the Company’s Condensed Consolidated Statement of Operations . As of December 31, 2021 , the carrying value of inventory consisted primarily of $236 million of raw materials. As of March 31, 2022, the carrying value of inventory consisted primarily of $344 million of raw materials, with the remainder consisting of work-in-process and finished goods. Revenues The Company primarily recognizes revenue from the sale of EVs. Revenue from the sale of EVs is recognized upon delivery, when control of the EV transfers to the customer. Payment for EV sales is due prior to or upon delivery, and an insignificant amount of revenue is recognized after delivery for performance obligations satisfied over time. Sales are subject to a right of return and involve variable consideration for certain sales to employees. The expected value of variable consideration is used to estimate the transaction price. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal of revenue recognized will not occur. The transaction price is allocated based on the estimated relative standalone selling price of each performance obligation. The Company utilizes directly observable standalone selling prices when possible. If not available, the standalone selling prices are estimated using appropriate methods, such as the “adjusted market assessment” approach, “expected cost plus a margin” approach, and others. Contract Liabilities The Company recognizes contract liabilities when payments are received or due before the related performance obligation is satisfied. The Company’s contract liabilities exclude fully-refundable customer deposits. The Company’s contract liabilities were not material as of December 31, 2021 and March 31, 2022, and were recorded primarily in “Current portion of lease liabilities and other current liabilities” on the Condensed Consolidated Balance Sheet s . Concentration of Risk Counterparty Credit Risk Financial instruments that potentially subject the Company to concentration of counterparty credit risk consist of cash and cash equivalents, restricted cash, deposits, and loans. The Company is exposed to credit risk to the extent that its cash balance with a financial institution is in excess of Federal Deposit Insurance Company insurance limits. The degree of counterparty credit risk will vary based on many factors including the duration of the transaction and the contractual terms of the agreement. Management evaluates and approves credit standards and oversees the credit risk management function related to investments. As of December 31, 2021 and March 31, 2022, all of the Company’s cash and cash equivalents were placed at financial institutions that management believes are of high credit quality. These amounts are typically in excess of insured limits. Supply Risk The Company is subject to risks related to its dependence on suppliers, the majority of which are single source providers of parts or components for the Company’s products. Any inability of the Company’s suppliers to deliver necessary product components, including semiconductors, at timing, prices, quality, and volumes that are acceptable to the Company could have a material and adverse impact on Rivian’s business, growth prospects, and financial and operating results.

PROPERTY, PLANT, AND EQUIPMENT,

PROPERTY, PLANT, AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, AND EQUIPMENT, NET	PROPERTY, PLANT, AND EQUIPMENT, NET The following table summarizes the components of “Property, plant, and equipment, net” (in millions): Estimated Useful Lives December 31, 2021 March 31, 2022 Land, buildings, and building improvements 10 to 30 years $ 429 $ 504 Leasehold improvements Shorter of 10 years or lease term 191 224 Machinery, equipment, vehicles, and office furniture 5 to 15 years 1,856 2,124 Computer equipment, hardware, and software 3 to 10 years 180 248 Construction in progress 760 668 Total property, plant, and equipment 3,416 3,768 Accumulated depreciation and amortization (233) (372) Total property, plant, and equipment, net $ 3,183 $ 3,396

DEBT

DEBT	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT The following table summarizes the Company’s outstanding debt (in millions): Maturity December 31, 2021 March 31, 2022 Amount Effective Interest Rate Amount Effective Interest Rate 2026 Notes 2026 1,250 7.0 % 1,250 7.0 % Total Long Term Debt 1,250 1,250 Less unamortized discount and debt issuance costs (24) (23) Notes payable, less unamortized discount and debt issuance costs 1,226 1,227 Less: Current portion — — Total note payable, less current portion $ 1,226 $ 1,227 Term Facility In April 2018, the Company entered into a variable rate Term Facility Agreement (“Term Facility”). In February 2021, the Company paid all outstanding amounts related to the Term Facility. Interest on the Term Facility was paid based on the London Interbank Offered Rate (“LIBOR”) plus 4.3%. The Company’s obligations under the Term Facility Agreement were backed by guarantees, including from an affiliate of a stockholder of the Company. In connection with the Term Facility Agreement, the Company issued common stock warrants to the affiliate of the stockholder on the date thereof. The common stock warrants were classified as a debt issuance cost, recorded as an increase to Additional paid-in capital, and subsequently amortized over the periods the Term Facility was outstanding. ABL Facility In May 2021, the Company, through various of its subsidiaries, entered into a senior secured asset-based revolving credit facility (“ABL Facility”) with a syndicate of banks that may be used for general corporate purposes. Availability under the ABL Facility is based on the lesser of the borrowing base and the committed $750 million cap and is reduced by borrowings and the issuance of letters of credit which bear a fronting fee of 0.125% plus interest per annum. As of March 31, 2022, the Company had no borrowings under the ABL Facility and $211 million of letters of credit outstanding, resulting in availability under the ABL Facility of $533 million after giving effect to the borrowing base and the outstanding letters of credit. As of March 31, 2022, the Company was in compliance with all covenants required by the ABL Facility. 2026 Notes In October 2021, the Company issued $1,250 million aggregate principal amount of senior secured floating rate notes due October 2026 (the “2026 Notes”) to new and existing investors of the Company. As of March 31, 2022, the Company was in compliance with all covenants required by the 2026 Notes, and the interest rate in effect was 6.63%. Interest accrued on the 2026 Notes is included within “Current portion of lease liabilities and other current liabilities” on the Condensed Consolidated Balance Sheets and was $20 million and $41 million as of December 31, 2021 and March 31, 2022, respectively. The 2026 Notes are classified within Level 2 of the fair value hierarchy because they are valued using quoted prices in markets that are not active. As of December 31, 2021 and March 31, 2022, the carrying value of the 2026 Notes approximated their fair value.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES The carrying value of “Accrued liabilities” on the Condensed Consolidated Balance Sheets includes the following components as of December 31, 2021 and March 31, 2022 (in millions): December 31, 2021 March 31, 2022 Capital and other expenditures $ 490 $ 482 Payroll 94 140 Services 27 53 Other 56 71 Total accrued liabilities $ 667 $ 746

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company’s provision for income taxes was not material for the three months ended March 31, 2021 and 2022. The Company’s effective tax rate was 0% for the three months ended March 31, 2021 and 2022. The Company maintains a valuation allowance on all deferred tax assets except in certain foreign jurisdictions, as it has concluded that it is more likely than not that these assets will not be utilized.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Plans The Company's 2015 Long-Term Incentive Plan ("2015 Stock Plan") and 2021 Incentive Award Plan (“2021 Stock Plan” and, together, “Stock Plans”) permit the grant of stock options, restricted stock units (“RSUs”), and other stock-based awards to employees, non-employee directors, and consultants. As of March 31, 2022, 99 million and 145 million shares were reserved for issuance under the 2015 Stock Plan and 2021 Stock Plan, respectively. As of March 31, 2022, 31 million shares were reserved for issuance under the 2021 Employee Stock Purchase Plan (“ESPP”). Because no awards granted under the 2015 Stock Plan vested, were expected to vest, or were exercisable prior to the IPO, the Company recognized no stock-based compensation cost during the three months ended March 31, 2021. The following table summarizes the Company’s stock-based compensation expense for the Stock Plans and ESPP recognized during the three months ended March 31, 2022 by line item in the Condensed Consolidated Statement of Operations (in millions): March 31, 2022 Cost of revenues $ 10 Research and development 138 Selling, general, and administrative 169 Total stock-based compensation expense $ 317

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS 2026 Notes The 2026 Notes were issued to new and existing investors, including certain funds and accounts advised by T. Rowe Price Associates, Inc. (“T. Rowe Price”), a principal shareholder of the Company, with an aggregate $285 million principal amount (refer to Note 4 "Debt" for more information about the 2026 Notes). Operating Expenses The Company obtains prototyping, engineering, and other research and development (“R&D”) services from a wholly-owned subsidiary of Ford Motor Company (together with its affiliates, “Ford”), a principal shareholder of the Company. The Company recognized $16 million and $1 million of expense for these services during the three months ended March 31, 2021 and 2022, respectively, within “Research and development” in the Condensed Consolidated Statements of Operations . As of December 31, 2021 and March 31, 2022, respectively, unpaid amounts of $16 million and $4 million related to these services are reported primarily within “Accrued liabilities” and “Accounts payable” on the Condensed Consolidated Balance Sheets . The Company obtains hosting services from Amazon.com, Inc. and its affiliates (collectively, “Amazon”), a principal shareholder of the Company. During the three months ended March 31, 2021 and 2022, expenses related to these services of $4 million and $19 million, respectively, were recorded in “Research and development” and “Selling, general, and administrative”, in the Condensed Consolidated Statements of Operations . As of December 31, 2021 and March 31, 2022, the unpaid amounts related to these services were not material .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is involved in legal proceedings, primarily related to employment matters and supplier contracts. While it is not possible to predict the outcome of these matters with certainty, the Company has developed an estimate of the range of unsettled obligations pertaining to legal proceedings and determined that the range is not materially different from the estimated liability recorded. As of December 31, 2021 and March 31, 2022, the Company recorded an estimated liability for unsettled obligations of $17 million and $20 million, respectively, within “Accrued liabilities” on the Condensed Consolidated Balance Sheets . The estimated obligation is not reduced by expected recoveries from third parties, and the majority of the matters for which an estimated obligation has been recorded are expected to be settled during the year ending December 31, 2022.

STOCKHOLDERS' EQUITY AND NET LO

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity And Earnings Per Share [Abstract]
STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE	STOCKHOLDERS’ EQUITY AND NET LOSS PER SHARE The Company has two classes of common stock: Class A common stock and Class B common stock. Shares of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. As of December 31, 2021 and March 31, 2022, 892 million and 893 million shares of Class A common stock were issued and outstanding, respectively. As of December 31, 2021 and March 31, 2022, 8 million shares of Class B common stock were issued and outstanding. As of December 31, 2021 and March 31, 2022, 3,500 million shares of Class A common stock and 8 million shares of Class B common stock were authorized. Upon the close of the IPO , all outstanding shares of contingently redeemable convertible preferred stock converted into shares of Class A common stock. As of December 31, 2021 and March 31, 2022, no shares of preferred stock were outstanding and 10 million shares of preferred stock were authorized. Because the rights of the holders of Class A and Class B common stock, including liquidation and dividend rights, are identical except with respect to voting and conversion rights, undistributed earnings are allocated on a proportionate basis. As a result, net loss per share attributable to common stockholders is the same for Class A and Class B common stock, whether on an individual or combined basis. Prior to the IPO, the Company considered shares of contingently redeemable convertible preferred stock to be participating securities because they participated in any dividends declared on the Company's common stock on an “if-converted to common stock” basis. Holders of contingently redeemable convertible preferred stock did not participate in the net loss per share with common stockholders, as they did not have a contractual obligation to share in the Company's losses. Diluted net loss per share is computed by giving effect to all potential shares of common stock to the extent dilutive, including stock options, unvested RSUs, and stock warrants. Potential shares of common stock are excluded from the computation of diluted net loss per share if their effect would have been anti-dilutive for the periods presented or if the issuance of shares is contingent upon events that did not occur by the end of the period, in the case of stock options with a market condition. The number of potential shares of common stock outstanding during each period that were excluded from the computation of diluted net loss per share is as follows (in millions): Three Months Ended March 31, 2021 2022 Stock warrants 12 12 Contingently redeemable convertible preferred stock 561 — Stock options 67 65 Restricted stock units 18 39 Total 658 116 A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share is as follows (in millions, except per share data): Three Months Ended March 31, 2021 2022 Numerator Net loss attributable to Rivian $ (414) $ (1,593) Net loss attributable to common stockholders, basic and diluted $ (414) $ (1,593) Denominator Weighted-average Class A and Class B common shares outstanding - basic 101 901 Effect of dilutive securities — — Weighted-average Class A and Class B common shares outstanding - diluted 101 901 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (4.10) $ (1.77)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSDuring May 2022, the Company executed an Economic Development Agreement (the “Agreement”) with the State of Georgia and other governmental parties. As part of the Agreement, the Company committed to build an electric vehicle manufacturing plant with a minimum capital investment of approximately $5,000 million and to make annual payments from March 2023 through March 2047, totaling a minimum of approximately $300 million. In addition, the Company expects to receive approximately $1,500 million in state and local incentives and tax credits.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation - Interim Financial Statements	The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial information. Accordingly, they do not include all disclosures, including certain notes, required by U.S. GAAP on an annual reporting basis. These condensed consolidated financial statements are unaudited and, in the opinion of management, reflect all normal recurring adjustments necessary to fairly present the financial position, results of operations, cash flows, and change in equity for the periods presented. Results for the periods presented are not necessarily indicative of the results that may be expected for any subsequent period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (“Form 10-K”).
Use of Estimates	Accounting estimates are an integral part of the condensed consolidated financial statements. These estimates require the use of judgments and assumptions that may affect the reported amounts of assets, liabilities, and expenses in the periods presented. The Company believes that the accounting estimates and related assumptions employed by the Company are appropriate and the resulting balances are reasonable under the circumstances. However, due to the inherent uncertainties involved in making estimates, the actual results could differ from original estimates, requiring adjustments to these balances in future periods.
Cash and Cash Equivalents	Cash and cash equivalents include cash on hand, cash in banks, payments due from financial institutions for the settlement of credit card and debit card transactions, and short-term, highly liquid investments with maturities of three months or less. The Company’s cash equivalents are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices in active markets.
Restricted Cash	Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are classified as restricted cash and are primarily recorded in “Other non-current assets” on the Company’s Condensed Consolidated Statement of Operations
Accounts Receivable, Net	Receivables are reported at the invoiced amount, less an allowance for any potential uncollectible amounts.
Inventory and Inventory Valuation	Inventory is stated at the lower of cost or net realizable value (“LCNRV”). Net realizable value (“NRV”) is the estimated selling price of inventory in the ordinary course of business, less estimated costs of completion, disposal, and transportation. During the three months ended March 31, 2022, the Company recorded a $188 million charge to reflect the NRV of inventory and losses on firm purchase commitments, in “Cost of revenues” in the Company’s Condensed Consolidated Statement of Operations
Revenues	The Company primarily recognizes revenue from the sale of EVs. Revenue from the sale of EVs is recognized upon delivery, when control of the EV transfers to the customer. Payment for EV sales is due prior to or upon delivery, and an insignificant amount of revenue is recognized after delivery for performance obligations satisfied over time. Sales are subject to a right of return and involve variable consideration for certain sales to employees. The expected value of variable consideration is used to estimate the transaction price. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal of revenue recognized will not occur. The transaction price is allocated based on the estimated relative standalone selling price of each performance obligation. The Company utilizes directly observable standalone selling prices when possible. If not available, the standalone selling prices are estimated using appropriate methods, such as the “adjusted market assessment” approach, “expected cost plus a margin” approach, and others.
Concentration of Risk	Counterparty Credit Risk Financial instruments that potentially subject the Company to concentration of counterparty credit risk consist of cash and cash equivalents, restricted cash, deposits, and loans. The Company is exposed to credit risk to the extent that its cash balance with a financial institution is in excess of Federal Deposit Insurance Company insurance limits. The degree of counterparty credit risk will vary based on many factors including the duration of the transaction and the contractual terms of the agreement. Management evaluates and approves credit standards and oversees the credit risk management function related to investments. As of December 31, 2021 and March 31, 2022, all of the Company’s cash and cash equivalents were placed at financial institutions that management believes are of high credit quality. These amounts are typically in excess of insured limits. Supply Risk The Company is subject to risks related to its dependence on suppliers, the majority of which are single source providers of parts or components for the Company’s products. Any inability of the Company’s suppliers to deliver necessary product components, including semiconductors, at timing, prices, quality, and volumes that are acceptable to the Company could have a material and adverse impact on Rivian’s business, growth prospects, and financial and operating results.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table presents the fair value of the Company’s cash and cash equivalents (in millions): December 31, 2021 March 31, 2022 Cash $ 5,438 $ 4,261 Money market funds 11,827 10,324 Certificates of deposit 450 400 Commercial papers 268 497 United States Treasury securities 150 950 Total cash and cash equivalents $ 18,133 $ 16,432

PROPERTY, PLANT, AND EQUIPMEN_2

PROPERTY, PLANT, AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The following table summarizes the components of “Property, plant, and equipment, net” (in millions): Estimated Useful Lives December 31, 2021 March 31, 2022 Land, buildings, and building improvements 10 to 30 years $ 429 $ 504 Leasehold improvements Shorter of 10 years or lease term 191 224 Machinery, equipment, vehicles, and office furniture 5 to 15 years 1,856 2,124 Computer equipment, hardware, and software 3 to 10 years 180 248 Construction in progress 760 668 Total property, plant, and equipment 3,416 3,768 Accumulated depreciation and amortization (233) (372) Total property, plant, and equipment, net $ 3,183 $ 3,396

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the Company’s outstanding debt (in millions): Maturity December 31, 2021 March 31, 2022 Amount Effective Interest Rate Amount Effective Interest Rate 2026 Notes 2026 1,250 7.0 % 1,250 7.0 % Total Long Term Debt 1,250 1,250 Less unamortized discount and debt issuance costs (24) (23) Notes payable, less unamortized discount and debt issuance costs 1,226 1,227 Less: Current portion — — Total note payable, less current portion $ 1,226 $ 1,227

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The carrying value of “Accrued liabilities” on the Condensed Consolidated Balance Sheets includes the following components as of December 31, 2021 and March 31, 2022 (in millions): December 31, 2021 March 31, 2022 Capital and other expenditures $ 490 $ 482 Payroll 94 140 Services 27 53 Other 56 71 Total accrued liabilities $ 667 $ 746

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The following table summarizes the Company’s stock-based compensation expense for the Stock Plans and ESPP recognized during the three months ended March 31, 2022 by line item in the Condensed Consolidated Statement of Operations (in millions): March 31, 2022 Cost of revenues $ 10 Research and development 138 Selling, general, and administrative 169 Total stock-based compensation expense $ 317

STOCKHOLDERS' EQUITY AND NET _2

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity And Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The number of potential shares of common stock outstanding during each period that were excluded from the computation of diluted net loss per share is as follows (in millions): Three Months Ended March 31, 2021 2022 Stock warrants 12 12 Contingently redeemable convertible preferred stock 561 — Stock options 67 65 Restricted stock units 18 39 Total 658 116
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share is as follows (in millions, except per share data): Three Months Ended March 31, 2021 2022 Numerator Net loss attributable to Rivian $ (414) $ (1,593) Net loss attributable to common stockholders, basic and diluted $ (414) $ (1,593) Denominator Weighted-average Class A and Class B common shares outstanding - basic 101 901 Effect of dilutive securities — — Weighted-average Class A and Class B common shares outstanding - diluted 101 901 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (4.10) $ (1.77)

PRESENTATION AND NATURE OF OP_2

PRESENTATION AND NATURE OF OPERATIONS (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Nov. 30, 2021USD ($)$ / sharesshares	Mar. 31, 2022segment
Class of Stock [Line Items]
Number of operating segments		1
Number of reportable segments		1
Gross proceeds from IPO | $	$ 13,500
IPO
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) | shares	176
Price per share (in dollars per share) | $ / shares	$ 78

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 539,000,000		$ 290,000,000
Allowance for credit loss	0		0
Inventory write-downs and losses on firm purchase commitments	188,000,000	$ 0
Inventory, raw materials, net of reserves	344,000,000		236,000,000
Fair Value, Inputs, Level 1 | Fair Value, Recurring
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, fair value disclosure	16,432,000,000		18,133,000,000
Money market funds | Fair Value, Inputs, Level 1 | Fair Value, Recurring
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, fair value disclosure	$ 10,324,000,000		11,827,000,000
Money market funds | Fair Value, Inputs, Level 1 | Fair Value, Recurring | Revision of Prior Period, Adjustment
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, fair value disclosure			$ (1,221,000,000)

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash and Cash Equivalents (Details) - Fair Value, Recurring - Fair Value, Inputs, Level 1 - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 16,432	$ 18,133
Cash
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	4,261	5,438
Money market funds
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	10,324	11,827
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	400	450
Commercial papers
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	497	268
US Treasury Securities
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 950	$ 150

PROPERTY, PLANT, AND EQUIPMEN_3

PROPERTY, PLANT, AND EQUIPMENT, NET - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 3,768	$ 3,416
Accumulated depreciation and amortization	(372)	(233)
Total property, plant, and equipment, net	3,396	3,183
Land, buildings, and building improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 504	429
Land, buildings, and building improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Land, buildings, and building improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	30 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 224	191
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Machinery, equipment, vehicles, and office furniture
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 2,124	1,856
Machinery, equipment, vehicles, and office furniture | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Machinery, equipment, vehicles, and office furniture | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	15 years
Computer equipment, hardware, and software
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 248	180
Computer equipment, hardware, and software | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Computer equipment, hardware, and software | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 668	$ 760

PROPERTY, PLANT, AND EQUIPMEN_4

PROPERTY, PLANT, AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 118	$ 14

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total Long Term Debt	$ 1,250	$ 1,250
Less unamortized discount and debt issuance costs	(23)	(24)
Notes payable, less unamortized discount and debt issuance costs	1,227	1,226
Less: Current portion	0	0
Non-current portion of long-term debt (Note 4)	1,227	1,226
Notes 2026 | Senior Notes
Debt Instrument [Line Items]
Total Long Term Debt	$ 1,250	$ 1,250
Effective interest rate (as a percent)	7.00%	7.00%

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	1 Months Ended
	Apr. 30, 2018	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2021	May 31, 2021
Line of Credit Facility [Line Items]
Long-term debt		$ 1,227,000,000	$ 1,226,000,000
Term Facility Agreement | Line of Credit | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	4.30%
ABL Facility | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 750,000,000
Long-term debt		0
Remaining borrowing capacity		533,000,000
ABL Facility | Revolving Credit Facility | Line of Credit | LIBOR
Line of Credit Facility [Line Items]
Fronting fee (as a percent)					0.125%
ABL Facility | Letter of Credit | Line of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount		$ 211,000,000
Notes 2026 | Senior Notes
Line of Credit Facility [Line Items]
Principal amount				$ 1,250,000,000
Stated interest rate (as a percent)		6.63%
Accrued interest		$ 41,000,000	$ 20,000,000

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Capital and other expenditures	$ 482	$ 490
Payroll	140	94
Services	53	27
Other	71	56
Total accrued liabilities	$ 746	$ 667

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	0.00%	0.00%

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Nov. 14, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 317,000,000	$ 0
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	31,000,000
Stock Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	99,000,000
Outstanding awards vested, expected to vest, or exercisable (in shares)			0
Stock Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)	145,000,000

STOCK-BASED COMPENSATION - Shar

STOCK-BASED COMPENSATION - Share-based Payment Arrangement, Expensed and Capitalized, Amount (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 317,000,000	$ 0
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	10,000,000
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	138,000,000
Selling, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 169,000,000

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Oct. 31, 2021
Notes 2026 | Senior Notes
Related Party Transaction [Line Items]
Principal amount				$ 1,250
T. Rowe Price Associates, Inc. | Notes 2026 | Senior Notes
Related Party Transaction [Line Items]
Principal amount				$ 285
Affiliated Entity | Ford
Related Party Transaction [Line Items]
Accrued liabilities	$ 4		$ 16
Affiliated Entity | Research And Development Services | Ford
Related Party Transaction [Line Items]
Expenses	1	$ 16
Affiliated Entity | Hosting Services | Amazon
Related Party Transaction [Line Items]
Expenses	$ 19	$ 4

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Loss contingency, accrual	$ 20	$ 17

STOCKHOLDERS' EQUITY AND NET _3

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE - Narrative (Details) - shares	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)	901,000,000	900,000,000	101,000,000	101,000,000
Common stock, shares issued (in shares)	901,000,000	900,000,000
Common stock, shares authorized (in shares)	3,508,000,000	3,508,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common Class A
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)	893,000,000	892,000,000
Common stock, shares issued (in shares)	893,000,000	892,000,000
Common stock, shares authorized (in shares)	3,500,000,000	3,500,000,000
Common Class B
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)	8,000,000	8,000,000
Common stock, shares issued (in shares)	8,000,000	8,000,000
Common stock, shares authorized (in shares)	8,000,000	8,000,000

STOCKHOLDERS' EQUITY AND NET _4

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE - Antidilutive Securities (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	116	658
Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	12	12
Contingently redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	561
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	65	67
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	39	18

STOCKHOLDERS' EQUITY AND NET _5

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator
Net loss attributable to Rivian	$ (1,593)	$ (414)
Net loss attributable to common stockholders, basic	(1,593)	(414)
Net loss attributable to common stockholders, diluted	$ (1,593)	$ (414)
Denominator
Weighted-average Class A and Class B common shares outstanding - basic (in shares)	901	101
Effect of dilutive securities (in shares)	0	0
Weighted-average Class A and Class B common shares outstanding - diluted (in shares)	901	101
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (1.77)	$ (4.10)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (1.77)	$ (4.10)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Electric Vehicle Manufacturing Plant Agreement $ in Millions	May 11, 2022USD ($)
Subsequent Event [Line Items]
Other commitment	$ 5,000
Other commitment, future minimum payments due	300
State and local incentives and tax credits	$ 1,500