v3.25.2
REVENUES (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table disaggregates revenue by major source (in millions):

Three Months Ended June 30,Six Months Ended June 30,
2024202520242025
New electric vehicles$1,057 $924 $2,172 $1,688 
Regulatory credits17 7 18 166 
Software and services84 372 172 689 
Total revenues$1,158 $1,303 $2,362 $2,543 
Schedule of Contact Liabilities The following table summarizes the Company’s contract liabilities recorded by line item on the Condensed Consolidated Balance Sheets (in millions):
December 31, 2024June 30, 2025
Current portion of deferred revenues, lease liabilities, and other liabilities$552 $1,015 
Other non-current liabilities1,288 1,228 
Total contract liabilities$1,840 $2,243