Inventory

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventory

Inventory

Inventory consists of the following as of June 30, 2023 and December 31, 2022 (in thousands):

	As of June 30, 2023		As of December 31, 2022
Raw materials	$	109,090	$	698
Work in progress	61,886		—
Finished goods	2,020		3,578
Total	$	172,996	$	4,276

Inventory was comprised of raw materials, work in progress related to the production of vehicles for sale and finished goods inventory including new vehicles available for sale.

The Company writes-down inventory for any excess or obsolete inventories or when we believe the net realizable value of inventories is less than the carrying value. The Company recorded a write down of pre-production inventories of $1.1 million in the first quarter of 2023 and no write downs in the three-months ended June 30, 2023 and 2022 and the six-months ended June 30, 2022.