Deposits and Other Current Assets

9 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deposits and Other Current Assets

Deposits and Other Current Assets

(in thousands)
Deposits:	September 30, 2023		December 31, 2022
Deposits for research and development, prototype and production parts, and other	$	59,783	$	40,879
Deposits for goods and services yet to be received (“Future Work”)	2,773		3,187
Total deposits	$	62,556	$	44,066
Other current assets:
Prepaid expenses	$	11,260	$	14,437
Other current assets	9,703		3,052
Total other current assets	$	20,963	$	17,489

Deposits for research and development, prototype and production parts, and other are recognized and reported as Research and development expenses in the Condensed Consolidated Statement of Operations and Comprehensive Loss when services are provided or as prototype parts are received. In addition, during the three and nine months ended September 30, 2023, the Company made deposits for inventory and property and equipment items which are classified out of Deposits upon receipt of title.

Prepaid expenses primarily consist of software subscriptions and insurance, and other current assets includes certain deferred expenses. As of September 30, 2023, Other current assets also includes an insurance receivable relating to a legal settlement with a corresponding liability recognized in Accrued expenses and other current liabilities.