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INVENTORIES, NET
6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
INVENTORIES, NET INVENTORIES, NET
Inventories consisted of the following (in thousands):
June 30,
2026
December 31,
2025
Work in process$56,310 $41,757 
Raw materials19,390 20,055 
Finished goods17,894 27,599 
Total$93,594 $89,411 
The Company wrote-down inventories to net realizable value and incurred losses of $161 thousand and $1.7 million on battery inventory for the three and six months ended June 30, 2026, and nil for the three and six months ended June 30, 2025, respectively. The write-downs were primarily related to technology development or product upgrade.