Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT, NET

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PROPERTY, PLANT AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET PROPERTY, PLANT AND EQUIPMENT, NETProperty, plant and equipment, net consists of the following:
December 31,
2022 2021
Land and improvements $ 875,182  $ 861,175 
Buildings and improvements 8,167,736  6,396,800 
Equipment and vehicles 8,183,089  3,603,655 
Tooling 689,286  1,467,712 
Construction in progress 9,027,020  927,537 
26,942,313  13,256,879 
Less: accumulated depreciation (5,441,218) (5,359,072)
Property, plant and equipment, net $ 21,501,095  $ 7,897,807 
Construction in progress is primarily comprised of equipment and tooling related to the manufacturing of our products. Completed assets are transferred to their respective asset classes, and depreciation begins when an asset is ready for its intended use.

Depreciation expense during the years ended December 31, 2022, 2021 and 2020 was $1.9 million, $1.9 million, and $0.8 million respectively.