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Inventories
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventory amounted to $36.6 million and $37.8 million, respectively, for the years ended December 31, 2024 and 2023 and consisted of the following (in thousands):
December 31, 2024December 31, 2023
Raw materials$24,943 $30,357 
Work in process6,983 3,033 
Finished goods
4,641 4,453 
Total inventories
$36,567 $37,843 
Inventories as of December 31, 2024 and 2023 were comprised of raw materials, work in process related to the production of vehicles, powertrains, Hubs, and other products for sale and finished goods inventory including vehicles in transit to fulfill customer orders, new vehicles, new vehicles awaiting final pre-delivery quality review inspection, and Xos Energy Solutions products available for sale.
Inventories are stated at the lower of cost or net realizable value. Cost is computed using average cost. Inventory write-downs are based on reviews for excess and obsolescence determined primarily by current and future demand forecasts. During the years ended December 31, 2024 and 2023, the Company recorded write-downs of $2.9 million and inventory recoveries of $1.9 million, respectively, to reflect inventories at their net realizable values and provide an allowance for any excess or obsolete inventories.