Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

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


				December 31,
	Useful lives			2024		2023
Equipment	5	-	10 years	$	51,874	$	20,559
Finance lease	5		years	504		504
Furniture	5	-	10 years	2,369		2,103
Leasehold improvements	Lesser of useful life/remaining lease			9,674		7,718
Tooling	2	-	3 years	9,955		7,045
Construction in progress				—		17,958
Total				74,376		55,887
Less: Accumulated depreciation				(28,716)		(18,032)
Total property, plant and equipment, net				$	45,660	$	37,855

Depreciation expense related to property, plant and equipment was $7,809 and $9,668 during the years ended December 31, 2024 and 2023, respectively.

For the years ended December 31, 2024 and 2023, the Company recorded a loss from write-down of property, plant and equipment of $9,133 and $7,159, respectively. The 2023 write-downs were 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. The 2024 write-downs were primarily related to design changes from the Z3™-Phase 1 to Z3™-Phase 2 production in which the Phase 1 production assets could not be utilized or repurposed for Phase 2 production. Additionally, the 2024 amount contains costs for disposal of equipment and tooling that was used for manufacturing of the Gen 2.3 battery, but cannot be repurposed for the Eos Z3 battery production.

Included in construction in progress assets is capitalized interest costs of $966 as of December 31, 2023. On June 28, 2024, the Company successfully began commercial operations on the first manufacturing line. Accordingly, the assets classified as construction in progress were reclassified to equipment, leasehold improvements, furniture and tooling as of June 28, 2024. Prior to reclassification on June 28, 2024, construction in progress included a total of $2,807 of capitalized interest, with $1,841 capitalized in the current period.