Rivian Automotive (RIVN) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 26, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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	Q3
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		913,130,805
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	Sep. 30, 2022	Dec. 31, 2021
Assets, Current [Abstract]
Cash and cash equivalents (Note 2)	$ 13,272	$ 18,133
Accounts receivable, net (Note 2)	106	26
Inventory (Note 2)	949	274
Other current assets	97	126
Total current assets	14,424	18,559
Property, plant, and equipment, net (Note 3)	3,668	3,183
Operating lease assets, net	291	228
Other non-current assets	640	324
Total assets	19,023	22,294
Current liabilities:
Accounts payable	828	483
Accrued liabilities (Note 5)	1,026	667
Current portion of lease liabilities and other current liabilities	255	163
Total current liabilities	2,109	1,313
Non-current portion of long-term debt (Note 4)	1,229	1,226
Non-current lease liabilities	277	218
Other non-current liabilities	71	23
Total liabilities	3,686	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 September 30, 2022 (Note 10)	0	0
Common stock, $0.001 par value; 3,508 and 3,508 shares authorized and 900 and 921 shares issued and outstanding as of December 31, 2021 and September 30, 2022, respectively (Note 10)	1	1
Additional paid-in capital	26,743	25,887
Accumulated deficit	(11,403)	(6,374)
Accumulated other comprehensive loss	(4)	0
Total stockholders' equity	15,337	19,514
Total liabilities and stockholders' equity	$ 19,023	$ 22,294

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 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)	921,000,000	900,000,000
Common stock, shares outstanding (in shares)	921,000,000	900,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues (Note 2)	$ 536	$ 1	$ 995	$ 1
Cost of revenues	1,453	83	3,118	83
Gross profit	(917)	(82)	(2,123)	(82)
Operating expenses
Research and development	452	441	1,542	1,124
Selling, general, and administrative	405	253	1,396	560
Total operating expenses	857	694	2,938	1,684
Loss from operations	(1,774)	(776)	(5,061)	(1,766)
Interest income	69	1	94	2
Interest expense (Note 4)	(24)	(1)	(70)	(7)
Loss on convertible notes, net	0	(458)	0	(458)
Other income, net	6	1	12	2
Loss before income taxes	(1,723)	(1,233)	(5,025)	(2,227)
Provision for income taxes	(1)	0	(4)	0
Net loss	(1,724)	(1,233)	(5,029)	(2,227)
Net loss attributable to common stockholders, basic	(1,724)	(1,233)	(5,029)	(2,227)
Net loss attributable to common stockholders, diluted	$ (1,724)	$ (1,233)	$ (5,029)	$ (2,227)
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (1.88)	$ (12.21)	$ (5.53)	$ (22.05)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (1.88)	$ (12.21)	$ (5.53)	$ (22.05)
Weighted-average common shares outstanding, basic (in shares)	918	101	909	101
Weighted-average common shares outstanding, diluted (in shares)	918	101	909	101

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,724)	$ (1,233)	$ (5,029)	$ (2,227)
Other comprehensive loss	(3)	0	(4)	0
Comprehensive loss	$ (1,727)	$ (1,233)	$ (5,033)	$ (2,227)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN CONTINGENTLY REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ (DEFICIT) EQUITY - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2020	504,000,000
Beginning balance at Dec. 31, 2020	$ 5,244,000,000
Contingently Redeemable Convertible Preferred Stock
Capital stock issuance (in shares)	72,000,000
Capital stock issuance	$ 2,650,000,000
Ending balance (in shares) at Mar. 31, 2021	576,000,000
Ending balance at Mar. 31, 2021	$ 7,894,000,000
Beginning balance (in shares) at Dec. 31, 2020		101,000,000
Beginning balance at Dec. 31, 2020	(1,384,000,000)	$ 0	$ 302,000,000	$ (1,686,000,000)	$ 0
Stockholders' (Deficit) Equity
Capital stock issuance	1,000,000		1,000,000
Net loss	(414,000,000)			(414,000,000)
Ending balance (in shares) at Mar. 31, 2021		101,000,000
Ending balance at Mar. 31, 2021	$ (1,797,000,000)	$ 0	303,000,000	(2,100,000,000)	0
Beginning balance (in shares) at Dec. 31, 2020	504,000,000
Beginning balance at Dec. 31, 2020	$ 5,244,000,000
Ending balance (in shares) at Sep. 30, 2021	576,000,000
Ending balance at Sep. 30, 2021	$ 7,894,000,000
Beginning balance (in shares) at Dec. 31, 2020		101,000,000
Beginning balance at Dec. 31, 2020	(1,384,000,000)	$ 0	302,000,000	(1,686,000,000)	0
Stockholders' (Deficit) Equity
Other comprehensive loss	0
Net loss	(2,227,000,000)
Ending balance (in shares) at Sep. 30, 2021		102,000,000
Ending balance at Sep. 30, 2021	$ (3,607,000,000)	$ 0	306,000,000	(3,913,000,000)	0
Beginning balance (in shares) at Mar. 31, 2021	576,000,000
Beginning balance at Mar. 31, 2021	$ 7,894,000,000
Ending balance (in shares) at Jun. 30, 2021	576,000,000
Ending balance at Jun. 30, 2021	$ 7,894,000,000
Beginning balance (in shares) at Mar. 31, 2021		101,000,000
Beginning balance at Mar. 31, 2021	(1,797,000,000)	$ 0	303,000,000	(2,100,000,000)	0
Stockholders' (Deficit) Equity
Capital stock issuance	2,000,000		2,000,000
Net loss	(580,000,000)			(580,000,000)
Ending balance (in shares) at Jun. 30, 2021		101,000,000
Ending balance at Jun. 30, 2021	$ (2,375,000,000)	$ 0	305,000,000	(2,680,000,000)	0
Ending balance (in shares) at Sep. 30, 2021	576,000,000
Ending balance at Sep. 30, 2021	$ 7,894,000,000
Stockholders' (Deficit) Equity
Capital stock issuance (in shares)		1,000,000
Capital stock issuance	1,000,000		1,000,000
Other comprehensive loss	0
Net loss	(1,233,000,000)			(1,233,000,000)
Ending balance (in shares) at Sep. 30, 2021		102,000,000
Ending balance at Sep. 30, 2021	$ (3,607,000,000)	$ 0	306,000,000	(3,913,000,000)	0
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	900,000,000	900,000,000
Beginning balance at Dec. 31, 2021	$ 19,514,000,000	$ 1,000,000	25,887,000,000	(6,374,000,000)	0
Stockholders' (Deficit) Equity
Capital stock issuance (in shares)		1,000,000
Capital stock issuance	1,000,000		1,000,000
Stock-based compensation	338,000,000		338,000,000
Net loss	(1,593,000,000)			(1,593,000,000)
Ending balance (in shares) at Mar. 31, 2022		901,000,000
Ending balance at Mar. 31, 2022	$ 18,260,000,000	$ 1,000,000	26,226,000,000	(7,967,000,000)	0
Beginning balance (in shares) at Dec. 31, 2021	0
Beginning balance at Dec. 31, 2021	$ 0
Ending balance (in shares) at Sep. 30, 2022	0
Ending balance at Sep. 30, 2022	$ 0
Beginning balance (in shares) at Dec. 31, 2021	900,000,000	900,000,000
Beginning balance at Dec. 31, 2021	$ 19,514,000,000	$ 1,000,000	25,887,000,000	(6,374,000,000)	0
Stockholders' (Deficit) Equity
Other comprehensive loss	(4,000,000)
Net loss	$ (5,029,000,000)
Ending balance (in shares) at Sep. 30, 2022	921,000,000	921,000,000
Ending balance at Sep. 30, 2022	$ 15,337,000,000	$ 1,000,000	26,743,000,000	(11,403,000,000)	(4,000,000)
Beginning balance (in shares) at Mar. 31, 2022	0
Beginning balance at Mar. 31, 2022	$ 0
Ending balance (in shares) at Jun. 30, 2022	0
Ending balance at Jun. 30, 2022	$ 0
Beginning balance (in shares) at Mar. 31, 2022		901,000,000
Beginning balance at Mar. 31, 2022	18,260,000,000	$ 1,000,000	26,226,000,000	(7,967,000,000)	0
Stockholders' (Deficit) Equity
Capital stock issuance (in shares)		15,000,000
Capital stock issuance	57,000,000		57,000,000
Stock-based compensation	264,000,000		264,000,000
Other comprehensive loss	(1,000,000)				(1,000,000)
Net loss	(1,712,000,000)			(1,712,000,000)
Ending balance (in shares) at Jun. 30, 2022		916,000,000
Ending balance at Jun. 30, 2022	$ 16,868,000,000	$ 1,000,000	26,547,000,000	(9,679,000,000)	(1,000,000)
Ending balance (in shares) at Sep. 30, 2022	0
Ending balance at Sep. 30, 2022	$ 0
Stockholders' (Deficit) Equity
Capital stock issuance (in shares)		5,000,000
Capital stock issuance	7,000,000		7,000,000
Stock-based compensation	189,000,000		189,000,000
Other comprehensive loss	(3,000,000)				(3,000,000)
Net loss	$ (1,724,000,000)			(1,724,000,000)
Ending balance (in shares) at Sep. 30, 2022	921,000,000	921,000,000
Ending balance at Sep. 30, 2022	$ 15,337,000,000	$ 1,000,000	$ 26,743,000,000	$ (11,403,000,000)	$ (4,000,000)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (5,029)	$ (2,227)
Depreciation and amortization	453	84
Stock-based compensation	852	0
Loss on convertible notes, net	0	458
Inventory write-downs and losses on firm purchase commitments	696	31
Other non-cash activities	87	29
Changes in operating assets and liabilities:
Accounts receivable	(82)	0
Inventory	(1,203)	(157)
Other current assets	1	(25)
Other non-current assets	(14)	(6)
Accounts payable and accrued liabilities	479	257
Other current liabilities	97	19
Other non-current liabilities	57	1
Net cash used in operating activities	(3,606)	(1,536)
Cash flows from investing activities:
Capital expenditures	(1,075)	(1,338)
Net cash used in investing activities	(1,075)	(1,338)
Cash flows from financing activities:
Proceeds from issuance of capital stock including employee stock purchase plan	65	2,654
Proceeds from issuance of convertible notes	0	2,500
Principal payments and other financing activities	(3)	(86)
Net cash provided by financing activities	62	5,068
Effect of exchange rate changes on cash and cash equivalents	(4)	0
Net change in cash	(4,623)	2,194
Cash, cash equivalents, and restricted cash—Beginning of period	18,423	3,011
Cash, cash equivalents, and restricted cash—End of period	13,800	5,205
Supplemental disclosure of non-cash investing and financing activities:
Capital expenditures included in liabilities	374	493
Right-of-use assets obtained in exchange for operating lease liabilities	$ 104	$ 135

PRESENTATION AND NATURE OF OPER

PRESENTATION AND NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 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 nine months ended September 30, 2022 was primarily the production and sale of EVs in the United States of America (“United States”). 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. Certain amounts in the prior period condensed consolidated financial statements have been aggregated to conform to current period presentation. 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	9 Months Ended
	Sep. 30, 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, revenues, 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, actual results could differ from original estimates, requiring adjustments to these amounts 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 observable inputs that reflect quoted prices in active markets for identical instruments. The cost of the Company’s cash equivalents approximated their fair values as of December 31, 2021 and September 30, 2022. The following table presents the fair value of the Company’s “Cash and cash equivalents” on the Condensed Consolidated Balance Sheets (in millions): December 31, 2021 September 30, 2022 Cash $ 5,438 $ 1,750 Money market funds 11,827 9,399 Certificates of deposit 450 360 Commercial papers 268 592 United States Treasury securities 150 1,171 Total cash and cash equivalents $ 18,133 $ 13,272 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 recorded in “Other non-current assets” on the Company’s Condensed Consolidated Statements 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”). See Note 4 “Debt” for more information on the ABL Facility. Total restricted cash was $290 million and $528 million as of December 31, 2021 and September 30, 2022, respectively. Accounts Receivable, Net Receivables are reported at the invoiced amount, less an allowance for any potentially uncollectible amounts. The Company had no allowance for uncollectible amounts as of December 31, 2021 and September 30, 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. The following table summarizes the components of “Inventory ” on the Condensed Consolidated Balance Sheets (in millions): December 31, 2021 September 30, 2022 Raw materials $ 236 $ 723 Work in progress 9 58 Finished goods 29 168 Total inventory $ 274 $ 949 The Company recorded a $696 million charge to reflect the LCNRV of inventory and losses on firm purchase commitments as of September 30, 2022 in “Cost of revenues” in the Company’s Condensed Consolidated Statements of Operations . Derivative Instruments In the normal course of business, the Company is exposed to global market risks, including the effect of changes in certain commodity prices, interest rates, and foreign currency exchange rates, and may enter into derivative contracts, such as forwards, options, swaps, or other instruments, to manage these risks. Derivative instruments are recorded on the Condensed Consolidated Balance Sheets in either Other current assets or Current portion of lease liabilities and other current liabilities and are measured at fair value. They are classified within Level 2 of the fair value hierarchy because they are valued using observable inputs other than quoted prices in active markets. For commodity contracts, the Company records gains and losses resulting from changes in fair value in “Cost of revenues” in the Condensed Consolidated Statements of Operations and cash flows in “Cash flows from operating activities” in the Condensed Consolidated Statements of Cash Flows . The Company also may enter into master netting agreements with its counterparties to allow for netting of transactions with the same counterparty. The Company does not utilize derivative instruments for trading or speculative purposes. The Company has entered into commodity contracts, and the resulting liability is not material as of September 30, 2022. The aggregate notional amount of these derivatives was $55 million as of September 30, 2022. These derivatives are economic hedges used to manage overall price risk and have not been designated as hedging instruments. During the three and nine months ended September 30, 2022, losses resulting from changes in fair value were not material. Revenues The Company primarily recognizes revenue from the sale of EVs. Revenue from the sale of EVs is generally recognized upon delivery, when control of the EV transfers to the customer. Payment for EV sales is generally due 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 September 30, 2022, and were recorded in “Current portion of lease liabilities and other current liabilities” and “Other non-current liabilities” on the Condensed Consolidated Balance Sheets . 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, derivatives, 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 September 30, 2022, all of the Company’s cash and cash equivalents were placed at financial institutions that management believes are of high credit quality. These balances 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	9 Months Ended
	Sep. 30, 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” on the Condensed Consolidated Balance Sheets (in millions): Estimated Useful Lives December 31, 2021 September 30, 2022 Land, buildings, and building improvements 10 to 30 years (a) $ 429 $ 620 Leasehold improvements Shorter of 10 years or lease term 191 262 Machinery, equipment, vehicles, and office furniture 3 to 15 years 1,856 2,316 Computer equipment, hardware, and software 3 to 10 years 180 357 Construction in progress 760 801 Total property, plant, and equipment 3,416 4,356 Accumulated depreciation and amortization (233) (688) Total property, plant, and equipment, net $ 3,183 $ 3,668 (a) Land is not depreciated . Depreciation and amortization expense was $49 million and $172 million for the three months ended September 30, 2021 and 2022, respectively, and $84 million and $451 million for the nine months ended September 30, 2021 and 2022, respectively.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT The following table summarizes the Company’s outstanding debt (in millions): December 31, 2021 September 30, 2022 Maturity Amount Effective Interest Rate Amount Effective Interest Rate 2026 Notes 2026 $ 1,250 7.0 % $ 1,250 7.6 % Total long term debt 1,250 1,250 Less unamortized discount and debt issuance costs (24) (21) Notes payable, less unamortized discount and debt issuance costs 1,226 1,229 Less: Current portion — — Total note payable, less current portion $ 1,226 $ 1,229 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 were backed by guarantees, including from an affiliate of a stockholder of the Company. In connection with the Term Facility, 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. 2021 Convertible Notes In July 2021, the Company issued $2,500 million aggregate principal amount of unsecured senior convertible promissory notes due July 2026 in a private offering (“2021 Convertible Notes”) and made an irrevocable election to account for the 2021 Convertible Notes under the Fair Value Option in accordance with ASC Topic 825, Financial Instruments. As a result, the 2021 Convertible Notes were initially recognized as a liability measured at issue-date estimated fair value and subsequently re-measured to estimated fair value as of September 30, 2021. The 2021 Convertible Notes accrued interest quarterly at a rate of (i) zero percent (0%) from the date of issuance to, and including, June 30, 2022 and (ii) five percent (5%) after June 30, 2022. The Company made no cash interest payments on the 2021 Convertible Notes during the three and nine months ended September 30, 2021. Upon the Company’s IPO, the 2021 Convertible Notes converted into 38 million shares of Class A common stock at a conversion price equal to $66.30 per share. During the three and nine months ended September 30, 2021, the loss on the 2021 Convertible Notes was recognized in “Loss on convertible notes, net” in the Consolidated Statements of Operations and was calculated as follows (in millions): September 30, 2021 Fair value (carrying amount) Unpaid principal balance Loss on convertible notes, net 2021 Convertible Notes $ 2,958 $ 2,500 $ 458 ABL Facility In May 2021, the Company, through various of its subsidiaries, entered into an 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 September 30, 2022, the Company had no borrowings under the ABL Facility and $395 million of letters of credit outstanding, resulting in availability under the ABL Facility of $353 million after giving effect to the borrowing base and the outstanding letters of credit. As of September 30, 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 certain new and existing investors of the Company. As of September 30, 2022, the Company was in compliance with all covenants required by the 2026 Notes, and the contractual interest rate was 7.2%.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 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 (in millions): December 31, 2021 (a) September 30, 2022 Capital expenditures $ 311 $ 258 Other products and services 182 166 Payroll and related costs 95 245 Inventory 28 272 Other 51 85 Total accrued liabilities $ 667 $ 1,026 (a) The prior period has been recast to conform to current period presentation.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company’s provision for income taxes was not material for the three and nine months ended September 30, 2021 and 2022. The Company’s effective tax rate was 0% for the three and nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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 September 30, 2022, 80 million and 145 million shares were reserved for issuance under the 2015 Stock Plan and 2021 Stock Plan, respectively. As of September 30, 2022, 29 million shares were reserved for issuance under the 2021 Employee Stock Purchase Plan (“ESPP”). In April 2022, the Company granted approximately 10 million RSUs to its existing employees. The RSUs generally vest in quarterly installments based on a requisite service period of four years of continuous service, and the grant date fair value of the awards was $355 million. In September 2022, the Company approved the payment of 2022 bonus incentives to be made under the 2021 Stock Plan in the form of stock-based awards, which will vest immediately upon grant in early 2023. The 2022 bonus incentives are subject to certain performance conditions related to production and other targets. As a result, bonus expense was reclassified to stock-based compensation expense in the three months ended September 30, 2022 with no change to the presentation on the Condensed Consolidated Statements of Operations . 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 and nine months ended September 30, 2021. The following table summarizes the Company’s stock-based compensation expense for the Stock Plans and ESPP by line item in the Condensed Consolidated Statements of Operations (in millions): Three Months Ended Nine Months Ended Cost of revenues $ 25 $ 48 Research and development 133 386 Selling, general, and administrative 135 418 Total stock-based compensation expense $ 293 $ 852

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS 2021 Convertible Notes In July 2021, the Company issued the 2021 Convertible Notes to principal stockholders of the Company at that time, including: Amazon.com, Inc. and its affiliates (collectively “Amazon”) with $490 million principal amount, Ford Motor Company (“Ford”) with $415 million principal amount, and certain funds and accounts advised by T. Rowe Price Associates, Inc. (“T. Rowe Price”) with an aggregate $400 million principal amount. Upon the Company’s IPO, the 2021 Convertible Notes converted into 38 million shares of Class A common stock at a conversion price equal to $66.30 per share (see Note 4 "Debt" for more information about the 2021 Convertible Notes). 2026 Notes The 2026 Notes were issued to certain new and principal stockholders, including T. Rowe Price with an aggregate $285 million principal amount (see Note 4 "Debt" for more information about the 2026 Notes). Revenues The Company has an agreement with Amazon to purchase EDVs and/or certain component parts and related services for use in Amazon’s last mile delivery operations. The Company is producing EDVs to fulfill Amazon’s initial order of 100,000 EDVs, subject to modification, as described under Part III, Item 13 "Certain Relationships and Related Transactions, and Director Independence" in the Form 10-K. The Company recorded $133 million in revenues from Amazon for the nine months ended September 30, 2022, within “Revenues” in the Condensed Consolidated Statements of Operations , primarily related to the sale of EDVs. As of September 30, 2022, the uncollected amounts related to these revenues in “Accounts receivable, net” in the Condensed Consolidated Balance Sheets were $68 million. Operating Expenses The Company obtains prototyping, engineering, and other research and development (“R&D”) services from a wholly-owned subsidiary of Ford. Until May 2022, Ford was a principal stockholder and related party of the Company as a beneficial owner of more than 10 percent of the Company’s voting interests. During the five months ended May 31, 2022, the expense for services from Ford that the Company recognized in “Research and development”in the Condensed Consolidated Statement of Operations was not material. As of June 30, 2022, Ford is no longer a related party. The Company obtains data services, including hosting, storage, and compute from Amazon. The Company recognized expenses related to these services of $1 million and $9 million during the three months ended September 30, 2021 and 2022, respectively, and $12 million and $43 million during the nine months ended September 30, 2021 and 2022, respectively, in “Research and development” and “Selling, general, and administrative,” in the Condensed Consolidated Statements of Operations . As of December 31, 2021 and September 30, 2022, the unpaid amounts related to these services were not material.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is involved in legal proceedings, primarily related to employment matters, securities laws, and supplier contracts. While it is not possible to predict the outcome of these matters with certainty, the Company has recorded an estimated liability for unsettled obligations pertaining to legal proceedings of $17 million and $13 million as of December 31, 2021 and September 30, 2022, respectively, within “Accrued liabilities” on the Condensed Consolidated Balance Sheets . The estimated range of unsettled obligations is not materially different from the estimated liability recorded. The estimated liability is not reduced by expected recoveries from third parties, and the majority of the matters for which an estimated liability has been recorded are expected to be resolved during the year ending December 31, 2023.

STOCKHOLDERS' EQUITY AND NET LO

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE	9 Months Ended
	Sep. 30, 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 September 30, 2022, 892 million and 913 million shares of Class A common stock were issued and outstanding, respectively. As of December 31, 2021 and September 30, 2022, 8 million shares of Class B common stock were issued and outstanding. As of December 31, 2021 and September 30, 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 September 30, 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, shares underlying the Company’s ESPP, stock warrants, and other stock-based awards. 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 and other stock-based awards. 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 and Nine Months Ended 2021 2022 2021 Convertible Notes 2,958 — Stock warrants 12 12 Contingently redeemable convertible preferred stock 576 — Stock options 67 63 RSUs, ESPP, and other stock-based awards 32 46 Total 3,645 121 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 September 30, Nine Months Ended September 30, 2021 2022 2021 2022 Numerator Net loss attributable to Rivian $ (1,233) $ (1,724) $ (2,227) $ (5,029) Net loss attributable to common stockholders, basic and diluted $ (1,233) $ (1,724) $ (2,227) $ (5,029) Denominator Weighted-average Class A and Class B common shares outstanding - basic 101 918 101 909 Effect of dilutive securities — — — — Weighted-average Class A and Class B common shares outstanding - diluted 101 918 101 909 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (12.21) $ (1.88) $ (22.05) $ (5.53)

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 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. Certain amounts in the prior period condensed consolidated financial statements have been aggregated to conform to current period presentation. 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, revenues, 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, actual results could differ from original estimates, requiring adjustments to these amounts 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 observable inputs that reflect quoted prices in active markets for identical instruments.
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 recorded in “Other non-current assets” on the Company’s Condensed Consolidated Statements of Operations
Accounts Receivable, Net	Receivables are reported at the invoiced amount, less an allowance for any potentially 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.
Derivative Instruments	In the normal course of business, the Company is exposed to global market risks, including the effect of changes in certain commodity prices, interest rates, and foreign currency exchange rates, and may enter into derivative contracts, such as forwards, options, swaps, or other instruments, to manage these risks. Derivative instruments are recorded on the Condensed Consolidated Balance Sheets in either Other current assets or Current portion of lease liabilities and other current liabilities and are measured at fair value. They are classified within Level 2 of the fair value hierarchy because they are valued using observable inputs other than quoted prices in active markets. For commodity contracts, the Company records gains and losses resulting from changes in fair value in “Cost of revenues” in the Condensed Consolidated Statements of Operations and cash flows in “Cash flows from operating activities” in the Condensed Consolidated Statements of Cash Flows . The Company
Revenues	The Company primarily recognizes revenue from the sale of EVs. Revenue from the sale of EVs is generally recognized upon delivery, when control of the EV transfers to the customer. Payment for EV sales is generally due 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
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, derivatives, 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 September 30, 2022, all of the Company’s cash and cash equivalents were placed at financial institutions that management believes are of high credit quality. These balances 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)	9 Months Ended
	Sep. 30, 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” on the Condensed Consolidated Balance Sheets (in millions): December 31, 2021 September 30, 2022 Cash $ 5,438 $ 1,750 Money market funds 11,827 9,399 Certificates of deposit 450 360 Commercial papers 268 592 United States Treasury securities 150 1,171 Total cash and cash equivalents $ 18,133 $ 13,272
Schedule of Inventory, Current	The following table summarizes the components of “Inventory ” on the Condensed Consolidated Balance Sheets (in millions): December 31, 2021 September 30, 2022 Raw materials $ 236 $ 723 Work in progress 9 58 Finished goods 29 168 Total inventory $ 274 $ 949

PROPERTY, PLANT, AND EQUIPMEN_2

PROPERTY, PLANT, AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The following table summarizes the components of “Property, plant, and equipment, net” on the Condensed Consolidated Balance Sheets (in millions): Estimated Useful Lives December 31, 2021 September 30, 2022 Land, buildings, and building improvements 10 to 30 years (a) $ 429 $ 620 Leasehold improvements Shorter of 10 years or lease term 191 262 Machinery, equipment, vehicles, and office furniture 3 to 15 years 1,856 2,316 Computer equipment, hardware, and software 3 to 10 years 180 357 Construction in progress 760 801 Total property, plant, and equipment 3,416 4,356 Accumulated depreciation and amortization (233) (688) Total property, plant, and equipment, net $ 3,183 $ 3,668 (a) Land is not depreciated .

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the Company’s outstanding debt (in millions): December 31, 2021 September 30, 2022 Maturity Amount Effective Interest Rate Amount Effective Interest Rate 2026 Notes 2026 $ 1,250 7.0 % $ 1,250 7.6 % Total long term debt 1,250 1,250 Less unamortized discount and debt issuance costs (24) (21) Notes payable, less unamortized discount and debt issuance costs 1,226 1,229 Less: Current portion — — Total note payable, less current portion $ 1,226 $ 1,229
Debt Securities, Trading, and Equity Securities, FV-NI	During the three and nine months ended September 30, 2021, the loss on the 2021 Convertible Notes was recognized in “Loss on convertible notes, net” in the Consolidated Statements of Operations and was calculated as follows (in millions): September 30, 2021 Fair value (carrying amount) Unpaid principal balance Loss on convertible notes, net 2021 Convertible Notes $ 2,958 $ 2,500 $ 458

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 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 (in millions): December 31, 2021 (a) September 30, 2022 Capital expenditures $ 311 $ 258 Other products and services 182 166 Payroll and related costs 95 245 Inventory 28 272 Other 51 85 Total accrued liabilities $ 667 $ 1,026 (a) The prior period has been recast to conform to current period presentation.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 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 by line item in the Condensed Consolidated Statements of Operations (in millions): Three Months Ended Nine Months Ended Cost of revenues $ 25 $ 48 Research and development 133 386 Selling, general, and administrative 135 418 Total stock-based compensation expense $ 293 $ 852

STOCKHOLDERS' EQUITY AND NET _2

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 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 and Nine Months Ended 2021 2022 2021 Convertible Notes 2,958 — Stock warrants 12 12 Contingently redeemable convertible preferred stock 576 — Stock options 67 63 RSUs, ESPP, and other stock-based awards 32 46 Total 3,645 121
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 September 30, Nine Months Ended September 30, 2021 2022 2021 2022 Numerator Net loss attributable to Rivian $ (1,233) $ (1,724) $ (2,227) $ (5,029) Net loss attributable to common stockholders, basic and diluted $ (1,233) $ (1,724) $ (2,227) $ (5,029) Denominator Weighted-average Class A and Class B common shares outstanding - basic 101 918 101 909 Effect of dilutive securities — — — — Weighted-average Class A and Class B common shares outstanding - diluted 101 918 101 909 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (12.21) $ (1.88) $ (22.05) $ (5.53)

PRESENTATION AND NATURE OF OP_2

PRESENTATION AND NATURE OF OPERATIONS (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended
	Nov. 30, 2021 USD ($) $ / shares shares
Class of Stock [Line Items]
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 ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative [Line Items]
Restricted cash	$ 528,000,000		$ 290,000,000
Allowance for credit loss	0		$ 0
Inventory write-downs and losses on firm purchase commitments	696,000,000	$ 31,000,000
Commodity Contract | Not Designated as Hedging Instrument, Economic Hedge
Derivative [Line Items]
Derivative, notional amount	$ 55,000,000

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	Sep. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 13,272	$ 18,133
Cash
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	1,750	5,438
Money market funds
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	9,399	11,827
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	360	450
Commercial papers
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	592	268
United States Treasury securities
Cash and Cash Equivalents [Line Items]
Total cash and cash equivalents	$ 1,171	$ 150

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Raw materials	$ 723	$ 236
Work in progress	58	9
Finished goods	168	29
Total inventory	$ 949	$ 274

PROPERTY, PLANT, AND EQUIPMEN_3

PROPERTY, PLANT, AND EQUIPMENT, NET - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 4,356	$ 3,416
Accumulated depreciation and amortization	(688)	(233)
Total property, plant, and equipment, net	$ 3,668	3,183
Buildings and building improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	10 years
Buildings and building improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	30 years
Land, buildings, and building improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 620	429
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant, and equipment	$ 262	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	$ 2,316	1,856
Machinery, equipment, vehicles, and office furniture | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 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	$ 357	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	$ 801	$ 760

PROPERTY, PLANT, AND EQUIPMEN_4

PROPERTY, PLANT, AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 172	$ 49	$ 451	$ 84

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total long term debt	$ 1,250	$ 1,250
Less unamortized discount and debt issuance costs	(21)	(24)
Notes payable, less unamortized discount and debt issuance costs	1,229	1,226
Less: Current portion	0	0
Non-current portion of long-term debt (Note 4)	1,229	1,226
Notes 2026 | Senior Notes
Debt Instrument [Line Items]
Total long term debt	$ 1,250	$ 1,250
Effective interest rate (as a percent)	7.60%	7%

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions		1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 15, 2021	Apr. 30, 2018	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021	Oct. 31, 2021	Jul. 31, 2021	May 31, 2021
Line of Credit Facility [Line Items]
Long-term debt					$ 1,229,000,000	$ 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%
2021 Convertible Notes
Line of Credit Facility [Line Items]
Convertible notes converted into common stock (in shares)	38
Conversion price (in USD per share)	$ 66.30
2021 Convertible Notes | Convertible Debt
Line of Credit Facility [Line Items]
Principal amount			$ 2,500,000,000	$ 2,500,000,000				$ 2,500,000,000
Cash interest payments			$ 0	$ 0
2021 Convertible Notes | Convertible Debt | Minimum
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)								0%
2021 Convertible Notes | Convertible Debt | Maximum
Line of Credit Facility [Line Items]
Stated interest rate (as a percent)								5%
ABL Facility | Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity									$ 750,000,000
Fronting fee (as a percent)									0.125%
Long-term debt					0
Remaining borrowing capacity					353,000,000
ABL Facility | Letter of Credit | Line of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount					$ 395,000,000
Notes 2026 | Senior Notes
Line of Credit Facility [Line Items]
Principal amount							$ 1,250,000,000
Stated interest rate (as a percent)					7.20%
Notes 2026 | Senior Notes | Fair Value, Inputs, Level 2
Line of Credit Facility [Line Items]
Debt instrument, fair value disclosure					$ 1,186,000,000	$ 1,250,000,000

DEBT - Debt Securities, Trading

DEBT - Debt Securities, Trading, and Equity Securities, FV-NI (Details) - 2021 Convertible Notes - Convertible Debt - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jul. 31, 2021
Debt Instrument [Line Items]
Fair value (carrying amount)	$ 2,958,000,000	$ 2,958,000,000
Unpaid principal balance	2,500,000,000	2,500,000,000	$ 2,500,000,000
Loss on convertible notes, net	$ 458,000,000	$ 458,000,000

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Capital expenditures	$ 258	$ 311
Other products and services	166	182
Payroll and related costs	245	95
Inventory	272	28
Other	85	51
Total accrued liabilities	$ 1,026	$ 667

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	0%	0%	0%	0%

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Nov. 14, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense		$ 293,000,000	$ 0	$ 852,000,000	$ 0
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)		29,000,000		29,000,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, granted (in shares)	10,000,000
Requisite period (in years)	4 years
Grant date fair value	$ 355,000,000
Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	25%
Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	25%
Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	25%
Restricted Stock Units (RSUs) | Share-Based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	25%
Stock Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)		80,000,000		80,000,000
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		145,000,000

STOCK-BASED COMPENSATION - Shar

STOCK-BASED COMPENSATION - Share-based Payment Arrangement, Expensed and Capitalized, Amount (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 293,000,000	$ 0	$ 852,000,000	$ 0
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	25,000,000		48,000,000
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	133,000,000		386,000,000
Selling, general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 135,000,000		$ 418,000,000

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) $ / shares in Units, shares in Millions		3 Months Ended		9 Months Ended
	Nov. 15, 2021 $ / shares shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) vehicle	Sep. 30, 2021 USD ($)	Oct. 31, 2021 USD ($)	Jul. 31, 2021 USD ($)
2021 Convertible Notes
Related Party Transaction [Line Items]
Convertible notes converted into common stock (in shares) | shares	38
Conversion price (in USD per share) | $ / shares	$ 66.30
2021 Convertible Notes | Convertible Debt
Related Party Transaction [Line Items]
Principal amount			$ 2,500,000,000		$ 2,500,000,000		$ 2,500,000,000
Notes 2026 | Senior Notes
Related Party Transaction [Line Items]
Principal amount						$ 1,250,000,000
Principal Owner | Amazon
Related Party Transaction [Line Items]
Number of electric delivery vehicles ordered | vehicle				100,000
Revenue from related parties				$ 133,000,000
Due from related parties		$ 68,000,000		68,000,000
Principal Owner | 2021 Convertible Notes | Convertible Debt | Amazon
Related Party Transaction [Line Items]
Principal amount							490,000,000
Principal Owner | 2021 Convertible Notes | Convertible Debt | Ford
Related Party Transaction [Line Items]
Principal amount							415,000,000
Principal Owner | 2021 Convertible Notes | Convertible Debt | T Rowe Price
Related Party Transaction [Line Items]
Principal amount							$ 400,000,000
Principal Owner | Notes 2026 | Senior Notes | T Rowe Price
Related Party Transaction [Line Items]
Principal amount						$ 285,000,000
Principal Owner | Hosting, Storage, and Compute Services | Amazon
Related Party Transaction [Line Items]
Expenses		$ 9,000,000	$ 1,000,000	$ 43,000,000	$ 12,000,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, accrual	$ 13	$ 17

STOCKHOLDERS' EQUITY AND NET _3

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE - Narrative (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)	921,000,000	900,000,000
Common stock, shares issued (in shares)	921,000,000	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)	913,000,000	892,000,000
Common stock, shares issued (in shares)	913,000,000	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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	121,000,000	3,645,000,000	121,000,000	3,645,000,000
2021 Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	2,958,000,000	0	2,958,000,000
Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	12,000,000	12,000,000	12,000,000	12,000,000
Contingently redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	576,000,000	0	576,000,000
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	63,000,000	67,000,000	63,000,000	67,000,000
RSUs, ESPP, and other stock-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	46,000,000	32,000,000	46,000,000	32,000,000

STOCKHOLDERS' EQUITY AND NET _5

STOCKHOLDERS' EQUITY AND NET LOSS PER SHARE - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator
Net loss attributable to Rivian	$ (1,724)	$ (1,712)	$ (1,593)	$ (1,233)	$ (580)	$ (414)	$ (5,029)	$ (2,227)
Net loss attributable to common stockholders, basic	(1,724)			(1,233)			(5,029)	(2,227)
Net loss attributable to common stockholders, diluted	$ (1,724)			$ (1,233)			$ (5,029)	$ (2,227)
Denominator
Weighted-average Class A and Class B common shares outstanding - basic (in shares)	918,000,000			101,000,000			909,000,000	101,000,000
Effect of dilutive securities (in shares)	0			0			0	0
Weighted-average Class A and Class B common shares outstanding - diluted (in shares)	918,000,000			101,000,000			909,000,000	101,000,000
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (1.88)			$ (12.21)			$ (5.53)	$ (22.05)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (1.88)			$ (12.21)			$ (5.53)	$ (22.05)