SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
Jun. 30, 2026
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. Estimates are used for, but not limited to, warranty reserves, inventory valuation, property, plant, and equipment, leases, income taxes, stock-based compensation, commitments and contingencies, the residual value risk sharing (“RVRS”) liability, and other revenue transactions, including progress toward the completion of the Joint Venture’s combined performance obligation. The Company believes that the accounting estimates and related assumptions employed in the condensed consolidated financial statements 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 the original estimates, requiring adjustments to estimated amounts in future periods. 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 deferred revenues, lease liabilities, and other 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 for identical assets or liabilities in active markets. For commodity contracts, the Company records gains and losses resulting from changes in fair value in Automotive “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 derivative contracts, and the resulting asset, liability, and aggregate notional amount were not material as of December 31, 2025 and June 30, 2026. These derivatives are economic hedges used to manage overall price risk and have not been designated as hedging instruments. During the three and six months ended June 30, 2025 and 2026, gains and losses resulting from changes in fair value were not material. 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, short-term investments, accounts receivable, customer deposits, derivative instruments, and debt. The Company is exposed to credit risk on cash to the extent that a balance with a financial institution exceeds the Federal Deposit Insurance Company insurance limits. The Company is exposed to credit risk on cash equivalents and short-term investments to the extent that counterparties are unable to settle maturities or sales of investments. The Company is exposed to credit risk on accounts receivable to the extent that counterparties are unable to pay for the sales transaction and on customer deposits to the extent that counterparties are unable to complete the corresponding purchase transaction. The Company is exposed to credit risk on derivative instruments to the extent that counterparties are unable to settle derivative asset positions and on debt to the extent that the senior secured asset-based revolving credit facility (“ABL Facility”) lenders are not able to extend credit. The degree of counterparty credit risk varies based on many factors, including the duration of the underlying transaction and the contractual terms of the underlying agreement. As of December 31, 2025 and June 30, 2026, all of the Company’s cash, typically in amounts exceeding insured limits, was distributed across several large financial institutions that the Company believes are of high credit quality. Management evaluates and approves credit standards and oversees the credit risk management function related to cash equivalents, short-term investments, accounts receivable, and customer deposits. As of December 31, 2025 and June 30, 2026, the counterparties to the Company’s derivative instruments, the ABL Facility lenders, and JP Morgan Chase Bank, N.A. (“Chase Bank”), from which accounts receivable are due to the Company (see Note 3 "Revenues" for more information), are financial institutions that the Company believes are of high credit quality. Supply Risk The Company is subject to risks related to its dependence on suppliers, the majority of which are single-source providers of raw materials or components for the Company’s products. Any inability or unwillingness of the Company’s suppliers to deliver necessary raw materials or product components at timing, prices, quality, and volumes that are acceptable to the Company could have a material impact on the Company’s business, prospects, financial condition, results of operations, and cash flows. Fluctuations in the cost of raw materials or product components and supply interruptions or shortages could materially impact the Company’s business. The imposition of tariffs, other trade barriers, and geopolitical conflicts may make it more costly to import raw materials and product components and could result in disruptions in supply and production. Strategic Investments The Company applies the equity method of accounting to investments in the common stock or in-substance common stock of entities over which the Company has significant influence. The carrying value of the Company‘s equity method investments is recorded within “Strategic investments” on the Condensed Consolidated Balance Sheets, with all adjustments to the carrying value, including the Company‘s share of the investee’s results of operations and cash flows, recorded in “Other (expense) income, net” in the Condensed Consolidated Statements of Operations. As of June 30, 2026, the Company had significant influence over the following investments of in-substance common stock, resulting in the equity method of accounting, which the Company has elected to apply on a one-quarter lag. Also, Inc. In December 2025, January 2026, and March 2026, Also, Inc. (“Also”) issued additional Series C preferred shares to third parties, resulting in further dilution of the Company’s ownership interest. The aggregate gain associated with the corresponding adjustments to the carrying value of the Company‘s equity method investment is not material. For the three and six months ended June 30, 2025 and 2026, the Company’s share of Also’s results of operations was not material. As of June 30, 2026 the Company’s ownership interest in Also was 35.3% on a shares outstanding basis. Mind Robotics, Inc. and Mind Robotics, LLC In November 2025, the Company established Mind Robotics, Inc. and Mind Robotics, LLC (together, “Mind Robotics”) to advance industrial artificial intelligence and robotics technologies and purchased shares of Series Seed preferred stock in Mind Robotics. The Series Seed preferred shares are convertible into an equal number of common shares at the Company’s option or automatically in certain cases such as in an initial public offering, participate in dividends on an as-converted basis, and entitle the holder to receive the original issue price of the shares plus any declared and unpaid dividends in preference to holders of common shares in the event of a Deemed Liquidation (as defined in the Mind Robotics Articles of Incorporation). The Company determined that Mind Robotics was a Variable Interest Entity (“VIE”) and that Rivian was its primary beneficiary, resulting in consolidation. As of December 31, 2025, the assets of Mind Robotics were approximately $115 million, primarily consisting of cash and cash equivalents. Mind Robotics has since established an independent management team, product plan, and standalone operating roadmap and in March 2026 completed a Series A preferred share financing with third-party investors at a substantially higher valuation than the Series Seed preferred. The Mind Robotics board of directors was expanded from four to five seats with the appointment of an additional director on behalf of an investor in the Series A preferred shares, and the Company experienced ownership dilution. Upon reassessing its involvement with Mind Robotics, the Company determined that Mind Robotics is no longer a VIE because substantially all of its activities no longer involve and are not conducted on behalf of Rivian. Accordingly, the Company deconsolidated Mind Robotics in March 2026 and determined that its retained ownership interest is considered in-substance common stock. As a result, the Company began accounting for its ownership interest under the equity method of accounting. Upon deconsolidation, the Company derecognized the assets of Mind Robotics which primarily consisted of approximately $114 million in “Cash and cash equivalents”, with the offset recorded to “Additional paid-in capital” and “Noncontrolling interest” on the Condensed Consolidated Balance Sheets. The Company remeasured the carrying value of its retained ownership interest to fair value of approximately $569 million within “Strategic investments” on the Condensed Consolidated Balance Sheets utilizing the Mind Robotics Series A preferred share issuance price. The fair value measurement is classified within Level 2 of the fair value hierarchy because the investment was valued using a quoted price for an identical asset in a market that is not active. The resulting gain on deconsolidation of $506 million was recorded to “Other (expense) income, net” in the Condensed Consolidated Statements of Operations. In May 2026, Mind Robotics issued Series A-1 shares to third parties, resulting in further dilution of the Company’s ownership interest. The aggregate gain associated with the corresponding adjustments to the carrying value of the Company‘s equity method investment is not material. For the three and six months ended June 30, 2026, the Company’s share of Mind Robotics’s results of operations was not material. As of June 30, 2026, the Company’s ownership interest in Mind Robotics was 32.1% on a shares outstanding basis. Joint Venture Deferred Compensation Program The Joint Venture provides a deferred compensation program that allows for shares of Volkswagen Group equity and phantom shares, in some cases, to be awarded to its employees, non-employees including directors, and consultants, generally vesting in quarterly installments over 2 years. The corresponding shares held in trust are accounted for as an investment in equity securities and carried at fair value within “Other current assets” and “Other non-current assets” on the Condensed Consolidated Balance Sheets, with unrealized holding gains and losses recorded in “Other (expense) income, net” in the Condensed Consolidated Statements of Operations. The accrued liability for deferred compensation also is carried at fair value within “Accrued liabilities” on the Condensed Consolidated Balance Sheets, with changes in fair value recorded to compensation expense in the Condensed Consolidated Statements of Operations. Purchases of shares of Volkswagen Group equity are recorded in “Purchases of equity securities and short-term investments” in the investing section of the Condensed Consolidated Statements of Cash Flows. The balances of the investment in equity securities and accrued liability for deferred compensation are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices for identical assets or liabilities in active markets and were not material as of December 31, 2025 and June 30, 2026. For the three and six months ended June 30, 2025 and 2026, unrealized holding gains and losses on the investment in equity securities and accrued liability for deferred compensation were not material. Upcoming Accounting Standards Not Yet Adopted Accounting Standards Update (“ASU”) 2024-03, Disaggregation of Income Statement Expenses (“DISE”) requires more detailed information about the types of expenses included in commonly presented expense captions. The new standard is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with retrospective application permitted. The Company is currently evaluating the presentational impact of this ASU and expects to adopt its provisions in the Annual Report on Form 10-K for the year ending December 31, 2027. Accounting Standards Update 2026-02, Environmental Credits and Environmental Credit Obligations contains a comprehensive accounting model for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The new standard is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within those annual periods, with retrospective application required. The Company is currently evaluating the financial statement impact of this ASU and expects to adopt its provisions in the Quarterly Report on Form 10-Q for the period ending March 31, 2028.

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 deferred revenues, lease liabilities, and other 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 for identical assets or liabilities in active markets.

For commodity contracts, the Company records gains and losses resulting from changes in fair value in Automotive “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

Financial instruments that potentially subject the Company to concentration of counterparty credit risk consist of cash and cash equivalents, short-term investments, accounts receivable, customer deposits, derivative instruments, and debt. The Company is exposed to credit risk on cash to the extent that a balance with a financial institution exceeds the Federal Deposit Insurance Company insurance limits. The Company is exposed to credit risk on cash equivalents and short-term investments to the extent that counterparties are unable to settle maturities or sales of investments. The Company is exposed to credit risk on accounts receivable to the extent that counterparties are unable to pay for the sales transaction and on customer deposits to the extent that counterparties are unable to complete the corresponding purchase transaction. The Company is exposed to credit risk on derivative instruments to the extent that counterparties are unable to settle derivative asset positions and on debt to the extent that the senior secured asset-based revolving credit facility (“ABL Facility”) lenders are not able to extend credit. The degree of counterparty credit risk varies based on many factors, including the duration of the underlying transaction and the contractual terms of the underlying agreement.

As of December 31, 2025 and June 30, 2026, all of the Company’s cash, typically in amounts exceeding insured limits, was distributed across several large financial institutions that the Company believes are of high credit quality. Management evaluates and approves credit standards and oversees the credit risk management function related to cash equivalents, short-term investments, accounts receivable, and customer deposits. As of December 31, 2025 and June 30, 2026, the counterparties to the Company’s derivative instruments, the ABL Facility lenders, and JP Morgan Chase Bank, N.A. (“Chase Bank”), from which accounts receivable are due to the Company (see Note 3 "Revenues" for more information), are financial institutions that the Company believes are of high credit quality.

The Company is subject to risks related to its dependence on suppliers, the majority of which are single-source providers of raw materials or components for the Company’s products. Any inability or unwillingness of the Company’s suppliers to deliver necessary raw materials or product components at timing, prices, quality, and volumes that are acceptable to the Company could have a material impact on the Company’s business, prospects, financial condition, results of operations, and cash flows. Fluctuations in the cost of raw materials or product components and supply interruptions or shortages could materially impact the Company’s business. The imposition of tariffs, other trade barriers, and geopolitical conflicts may make it more costly to import raw materials and product components and could result in disruptions in supply and production.

The Company applies the equity method of accounting to investments in the common stock or in-substance common stock of entities over which the Company has significant influence. The carrying value of the Company‘s equity method investments is recorded within “Strategic investments” on the Condensed Consolidated Balance Sheets, with all adjustments to the carrying value, including the Company‘s share of the investee’s results of operations and cash flows, recorded in “Other (expense) income, net” in the Condensed Consolidated Statements of Operations. As of June 30, 2026, the Company had significant influence over the following investments of in-substance common stock, resulting in the equity method of accounting, which the Company has elected to apply on a one-quarter lag.

In December 2025, January 2026, and March 2026, Also, Inc. (“Also”) issued additional Series C preferred shares to third parties, resulting in further dilution of the Company’s ownership interest. The aggregate gain associated with the corresponding adjustments to the carrying value of the Company‘s equity method investment is not material. For the three and six months ended June 30, 2025 and 2026, the Company’s share of Also’s results of operations was not material. As of June 30, 2026 the Company’s ownership interest in Also was 35.3% on a shares outstanding basis.

In November 2025, the Company established Mind Robotics, Inc. and Mind Robotics, LLC (together, “Mind Robotics”) to advance industrial artificial intelligence and robotics technologies and purchased shares of Series Seed preferred stock in Mind Robotics. The Series Seed preferred shares are convertible into an equal number of common shares at the Company’s option or automatically in certain cases such as in an initial public offering, participate in dividends on an as-converted basis, and entitle the holder to receive the original issue price of the shares plus any declared and unpaid dividends in preference to holders of common shares in the event of a Deemed Liquidation (as defined in the Mind Robotics Articles of Incorporation). The Company determined that Mind Robotics was a Variable Interest Entity (“VIE”) and that Rivian was its primary beneficiary, resulting in consolidation. As of December 31, 2025, the assets of Mind Robotics were approximately $115 million, primarily consisting of cash and cash equivalents.

Mind Robotics has since established an independent management team, product plan, and standalone operating roadmap and in March 2026 completed a Series A preferred share financing with third-party investors at a substantially higher valuation than the Series Seed preferred. The Mind Robotics board of directors was expanded from four to five seats with the appointment of an additional director on behalf of an investor in the Series A preferred shares, and the Company experienced ownership dilution. Upon reassessing its involvement with Mind Robotics, the Company determined that Mind Robotics is no longer a VIE because substantially all of its activities no longer involve and are not conducted on behalf of Rivian. Accordingly, the Company deconsolidated Mind Robotics in March 2026 and determined that its retained ownership interest is considered in-substance common stock. As a result, the Company began accounting for its ownership interest under the equity method of accounting.

Upon deconsolidation, the Company derecognized the assets of Mind Robotics which primarily consisted of approximately $114 million in “Cash and cash equivalents”, with the offset recorded to “Additional paid-in capital” and “Noncontrolling interest” on the Condensed Consolidated Balance Sheets. The Company remeasured the carrying value of its retained ownership interest to fair value of approximately $569 million within “Strategic investments” on the Condensed Consolidated Balance Sheets utilizing the Mind Robotics Series A preferred share issuance price. The fair value measurement is classified within Level 2 of the fair value hierarchy because the investment was valued using a quoted price for an identical asset in a market that is not active. The resulting gain on deconsolidation of $506 million was recorded to “Other (expense) income, net” in the Condensed Consolidated Statements of Operations.

In May 2026, Mind Robotics issued Series A-1 shares to third parties, resulting in further dilution of the Company’s ownership interest. The aggregate gain associated with the corresponding adjustments to the carrying value of the Company‘s equity method investment is not material. For the three and six months ended June 30, 2026, the Company’s share of Mind Robotics’s results of operations was not material. As of June 30, 2026, the Company’s ownership interest in Mind Robotics was 32.1% on a shares outstanding basis.

The Joint Venture provides a deferred compensation program that allows for shares of Volkswagen Group equity and phantom shares, in some cases, to be awarded to its employees, non-employees including directors, and consultants, generally vesting in quarterly installments over 2 years. The corresponding shares held in trust are accounted for as an investment in equity securities and carried at fair value within “Other current assets” and “Other non-current assets” on the Condensed Consolidated Balance Sheets, with unrealized holding gains and losses recorded in “Other (expense) income, net” in the Condensed Consolidated Statements of Operations. The accrued liability for deferred compensation also is carried at fair value within “Accrued liabilities” on the Condensed Consolidated Balance Sheets, with changes in fair value recorded to compensation expense in the Condensed Consolidated Statements of Operations. Purchases of shares of Volkswagen Group

The balances of the investment in equity securities and accrued liability for deferred compensation are classified within Level 1 of the fair value hierarchy because they are valued using quoted prices for identical assets or liabilities in active markets and were not material as of December 31, 2025 and June 30, 2026. For the three and six months ended June 30, 2025 and 2026, unrealized holding gains and losses on the investment in equity securities and accrued liability for deferred compensation were not material.

Accounting Standards Update (“ASU”) 2024-03, Disaggregation of Income Statement Expenses (“DISE”) requires more detailed information about the types of expenses included in commonly presented expense captions. The new standard is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with retrospective application permitted. The Company is currently evaluating the presentational impact of this ASU and expects to adopt its provisions in the Annual Report on Form 10-K for the year ending December 31, 2027.

Accounting Standards Update 2026-02, Environmental Credits and Environmental Credit Obligations contains a comprehensive accounting model for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The new standard is effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within those annual periods, with retrospective application required. The Company is currently evaluating the financial statement impact of this ASU and expects to adopt its provisions in the Quarterly Report on Form 10-Q for the period ending March 31, 2028.