| 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 leasehold 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 15 years or term of the lease |
Property, plant, and equipment, net, consists of the following as of: | | | | | | | | | | | | | (in thousands) | June 30, 2025 | | December 31, 2024 | | | Land, buildings and leasehold improvements | $ | 116,147 | | | $ | 111,443 | | | | Computer hardware | 2,397 | | | 2,397 | | | | Tooling, machinery and equipment | 325,967 | | | 319,313 | | | | Vehicles | 765 | | | 245 | | | | Lease vehicles | 1,872 | | | 3,121 | | | | Computer software | 4,339 | | | 4,339 | | | | Construction in process | 20,214 | | | 27,563 | | | | 471,701 | | | 468,421 | | | | Less: Accumulated depreciation | (156,717) | | | (119,834) | | | | $ | 314,984 | | | $ | 348,587 | | |
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