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Property and Equipment, net
3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment, Net [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net consisted of the following (in thousands):
March 31,
2023
December 31,
2022
Tooling, machinery, and equipment 58,080 32,863 
Computer hardware8,850 8,850 
Computer software9,053 9,053 
Vehicles1,527 1,356 
Furniture and fixtures742 742 
Leasehold improvements15,063 14,956 
Construction-in-progress273,555 276,968 
Total property and equipment366,870 344,788 
Less: Accumulated depreciation(37,963)(33,388)
Property and equipment, net$328,907 $311,400 
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 $4.6 million and $2.7 million for the three months ended March 31, 2023 and 2022, respectively.