XML 22 R12.htm IDEA: XBRL DOCUMENT v3.23.2
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
(in thousands)June 30, 2023December 31, 2022
Buildings and leasehold improvements$81,339 $5,598 
Computer hardware2,072 3,112 
Tooling, machinery and equipment235,125 9,542 
Vehicles337 337 
Computer software4,125 4,212 
Construction in process125,272 393,814 
Less: Accumulated depreciation(22,976)(10,295)
Total property and equipment, net$425,294 $406,320 
FF announced the start of production of its first electric vehicle, the FF 91 Futurist, on March 29, 2023, at which point the Company classified a portion of its construction in process assets that are available for their intended use in the amount of $225.7 million and $75.7 million to Tooling, machinery and equipment and Buildings and leasehold improvements, respectively, during the three months ended March 31, 2023.
Depreciation expense related to property and equipment totaled $13.2 million and $0.8 million for the three months ended June 30, 2023 and 2022, respectively, and $14.3 million and $1.6 million for the six months ended June 30, 2023 and 2022, respectively.