PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

NOTE 6 – PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following (in thousands):

SCHEDULE OF PROPERTY AND EQUIPMENT

	December 31, 2024			December 31, 2023
Leasehold improvements	$	761		$	694
Computers, hardware and software		95			95
Research and development equipment		740			788
Other equipment		933			824
Construction in progress		15,507			12,986
Total property and equipment, gross		18,036			15,387
Less accumulated depreciation and amortization		(1,151	)		(717	)
Total property and equipment, net	$	16,885		$	14,670

Impairment of construction in progress assets

During the year ended December 31, 2024, we recorded a non-cash charge to impair and abandon construction in progress assets related to an electric motor technology that was replaced in the Company’s production plan. In December of 2023, we recorded non-cash impairment charges of $1.7 million related to changes in the Company’s plans for its battery manufacturing line. The construction in progress asset impairment charges in each period were recorded to research and development expenses.

Aptera Motors Corp S-1/A