Nature of Business and Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Crypto Asset

The table below summarizes the units held, cost basis, and fair value of outstanding coins as of December 31, 2025 (amounts shown in thousands, except for units held, which are presented in whole numbers):

Digital Assets	Units Held	Cost Basis		Fair Value
Cardano ADA (ADA)	238,136	$	150	$	84
Native BNB (BSC)	1,454	1,516		1,251
Bitcoin (BTC)	51	5,495		4,535
Dogecoin (DOGE)	2,292,863	438		282
Ethereum (ETH)	685	2,573		2,033
ChainLink (LINK)	21,560	382		268
Solana (SOL)	7,399	1,358		924
Tron (TRX)	590,372	186		169
USD Tether (USDT)	1,856	2		2
Ripple (XRP)	374,454	912		702
		$	13,012	$	10,250

The following table summarizes digital asset activity for the period indicated, including cost basis of purchases, fair value at the time of sale, net losses recognized (realized or unrealized), and the fair value of outstanding digital assets as of December 31, 2025.

	Balance
Balance as of December 31, 2024	$	—
Purchases	27,000
Sales	(12,593)
Net (loss) gain on digital assets	(4,117)
Other	(40)
Balance as of December 31, 2025	$	10,250

Schedule of Property and Equipment, Net

Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets and for building improvements, over the term of the lease, if shorter.

	Useful Life (in years)
Buildings	39
Building improvements	15
Computer hardware	5
Tooling, machinery, and equipment	5 to 10
Vehicles	5
Lease vehicles	7
Computer software	3
Leasehold improvements	Shorter of asset useful life or term of the lease

Property, plant, and equipment, net, consists of the following as of:

(in thousands)	December 31, 2025		December 31, 2024
Land, buildings and building improvements	$	78,218	$	111,443
Computer hardware	2,603		2,397
Tooling, machinery and equipment	120,792		319,313
Vehicles	699		245
Lease vehicles	1,390		3,121
Computer software	4,339		4,339
Construction in process	8,500		27,563
	216,541		468,421
Less: Accumulated depreciation	(61,238)		(119,834)
	$	155,303	$	348,587

Schedule of Disaggregation of Revenue

The following table disaggregates our revenue by major source:

(in thousands)	2025		2024
Automotive sales	$	166	$	495
Automotive leasing - Sales type	250		44
Automotive leasing - Operating type	120		—
	$	536	$	539

Schedule of Standard Product Warranty Accrual

(in thousands)	2025		2024
Accrued warranty- beginning of period	$	545	$	684
Provision for warranty	38		34
Warranty costs incurred	(207)		(173)
Accrued warranty- end of period	$	376	$	545

Business Combination, Pro Forma Information

Summarized financial information of AIXC included in the Company’s consolidated financial statements as of December 31, 2025 and for the three months then ended is presented below.

AIXC
Condensed Balance Sheet
December 31, 2025
(in thousands)
Cash and cash equivalents .	$	19,333
Digital assets .	10,250
Other current assets	1,372
Total current assets .	30,955
Intangible assets and other assets .	325
Total assets	$	31,280
Accounts payable and accrued liabilities	$	3,045
Warrant liabilities and convertible debt	284
Total liabilities	3,329
Total stockholders’ equity (deficit)	27,951
Total liabilities and stockholders’ equity (deficit)	$	31,280

AIXC
Condensed Statement of Operations
Three Months Ended December 31, 2025
(in thousands)
Operating expenses	$	7,364
Other expense, net	$	3,233
Net loss	$	(10,596)

AIXC
Condensed Statement of Cash Flows
Three Months Ended December 31, 2025
(in thousands)
Net cash used in operating activities	$	(2,122)
Net cash used in investing activities	$	(15,881)
Net cash used in financing activities	$	(3,250)