Property, Plant, and Equipment, Net

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

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


(in thousands)	March 31, 2026		December 31, 2025
Land, buildings and building improvements	$	77,803	$	78,218
Computer hardware	2,603		2,603
Tooling, machinery and equipment	120,502		120,792
Vehicles	699		699
Lease vehicles	1,390		1,390
Computer software	4,339		4,339
Construction in process	8,541		8,500
	215,877		216,541
Less: Accumulated depreciation	(68,945)		(61,238)
	$	146,932	$	155,303

Depreciation and amortization expense, related to property, plant, and equipment, totaled $8.1 million and $17.5 million for the three months ended March 31, 2026, and 2025, respectively. For the three months ended March 31, 2026, the Company disposed of property, plant, and equipment, with a gross value of approximately $0.7 million. For the three months ended March 31, 2025, the Company disposed of property, plant, and equipment, with a gross value of approximately $0.8 million.

Substantially all of the Company's assets, including property, plant and equipment, are subject to liens under various financing arrangements. See Note 8, Notes Payable, and Note 10, Other Financing Liabilities, for further details.