XML 29 R11.htm IDEA: XBRL DOCUMENT v3.25.1
Deposits and Other Current Assets
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deposits and Other Current Assets Deposits and Other Current Assets
Deposits and other current assets consists of the following as of:
(in thousands)December 31, 2024December 31, 2023
Deposits
Deposits for research and development, prototype and production parts, and other$29,318 $28,609 
Deposits for goods and services yet to be received (“Future Work”)1,776 2,773 
$31,094 $31,382 
Other current assetsDecember 31, 2024December 31, 2023
Prepaid expenses$4,832 $13,309 
Other current assets1,295 $8,412 
$6,127 $21,721 
Deposits for R&D, prototype and production parts, and other are recognized and reported as R&D expenses in the Consolidated Statements of Operations and Comprehensive Loss when services are provided or as prototype parts are received. In addition, during the years ended December 31, 2024 and 2023, the Company made deposits for inventory and property and equipment items which are classified as Deposits for goods and services yet to be received (“Future Work”).
Prepaid expenses primarily consist of software subscriptions and insurance, and Other current assets includes certain deferred expenses. As of December 31, 2024, and 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.