Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

The following table provides information about property, plant and equipment, net balances:

				December 31,
	Useful lives			2023		2022
Equipment	5	—	10 years	$	20,559	$	23,653
Finance lease	5	—	years	504		379
Furniture	5	—	10 years	2,103		1,868
Leasehold improvements	Lesser of useful life/remaining lease			7,718		6,303
Tooling	2	—	3 years	7,045		6,926
Construction in progress				17,958		—
Total				55,887		39,129
Less: Accumulated depreciation				(18,032)		(11,960)
Total property, plant and equipment, net				$	37,855	$	27,169

Depreciation expense related to property, plant and equipment was $9,668 and $6,774 during the years ended December 31, 2023 and 2022, respectively. For the years ended December 31, 2023 and 2022, the Company recorded a loss from write-down of property, plant and equipment of $7,159 and $6,846, respectively, mainly due to replacement of equipment, outsourcing of certain production processes, and the shift in production from the Gen 2.3 battery system to the Z3™ battery system.

Included in construction in progress assets is capitalized interest costs of $966 as of December 31, 2023. Depreciation will commence after the assets under construction are placed in service.