XML 21 R11.htm IDEA: XBRL DOCUMENT v3.22.2.2
Property and Equipment, net
9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment, Net [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net consisted of the following (in thousands):
September 30,
2022
December 31,
2021
Tooling, machinery, and equipment 31,309 18,040 
Computer hardware8,643 6,161 
Computer software9,053 7,837 
Vehicles295 267 
Furniture and fixtures742 742 
Leasehold improvements14,956 14,939 
Construction-in-progress267,830 176,162 
332,828 224,148 
Less: Accumulated depreciation(30,854)(21,834)
Property and equipment, net$301,974 $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 are transferred to their respective asset classes and depreciation begins when an asset is ready for its intended use.
Depreciation expense for property and equipment was $3.4 million and $9.0 million for the three and nine months ended September 30, 2022, respectively. Depreciation expense for property and equipment was $2.1 million and $6.3 million for the three and nine months ended September 30, 2021, respectively.