Property and Equipment, net

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment, Net [Abstract]

Property and equipment, net consisted of the following (in thousands):


	March 31, 2022		December 31, 2021
Machinery and equipment	$	21,184	$	18,040
Computer hardware	7,313		6,161
Computer software	7,955		7,837
Vehicles	325		267
Furniture and fixtures	742		742
Leasehold improvements	14,939		14,939
Construction-in-progress	195,769		176,162
	248,227		224,148
Less: Accumulated depreciation	(24,512)		(21,834)
Property and equipment, net	$	223,715	$	202,314

Construction-in-progress is primarily related to the development of manufacturing lines as well as equipment and tooling necessary in the production of the Company’s vehicles. Completed tooling assets will be transferred to their respective asset classes and depreciation will begin when an asset is ready for its intended use. As of March 31, 2022, manufacturing has not begun and therefore no depreciation on construction-in-progress has been recognized to date.

Depreciation expense for property and equipment was $2.7 million and $2.1 million for the three months ended March 31, 2022 and 2021, respectively.