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Deposits and Other Current Assets
 3 Months Ended
Mar. 31, 2025
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)March 31, 2025December 31, 2024
Deposits
Deposits for research and development, prototype and production parts, and other$32,143 $29,318 
Deposits for goods and services yet to be received (“Future Work”)1,776 1,776 
$33,919 $31,094 
Other current assetsMarch 31, 2025December 31, 2024
Prepaid expenses$4,022 $4,832 
Other current assets1,249 $1,295 
$5,271 $6,127 
Deposits for R&D, prototype and production parts, and other are recognized and reported as R&D expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss when services are provided or as prototype parts are received. In addition, during the three months ended March 31, 2025 and 2024, 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.