Intangible assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible asset

5. Intangible assets

The Company has the following intangible assets (in thousands):

	As of June 30, 2021
	Amortization Period		Gross Carrying Amount		Accumulated Amortization		Net
Capitalized cost - manufacturing		8 years	$	180,411	$	—	$	180,411
			$	180,411	$	—	$	180,411

	As of December 31, 2020
	Amortization Period		Gross Carrying Amount		Accumulated Amortization		Net
Capitalized cost - manufacturing		8 years	$	58,041	$	—	$	58,041
			$	58,041	$	—	$	58,041

The Company did not amortize the capitalized cost associated with the warrants vested and exercisable by Magna International, Inc. (“Magna”) for the year ended December 31, 2020 as amortization will commence on a straight-line basis with the start of production for the Fisker Ocean which is expected to occur in 2022. The Company expects to amortize the intangible asset over eight years but will continually assess the reasonableness of the estimated life. Refer to Note 8 for additional information regarding the capitalization of costs upon issuance of warrants to Magna. Also, the Company capitalized certain costs associated with manufacturing of the Fisker Ocean and production of parts in 2021, which will be amortized on a straight-line basis beginning with the start of production for the Fisker Ocean over eight years.