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Inventory
12 Months Ended
Dec. 31, 2022
Inventory  
Inventory

5.    Inventory

December 31, 

December 31, 

    

2021

    

2022

Raw materials

 

1,008,348

2,974,125

Work in process

 

3,915

170,995

Finished Goods

 

826,011

4,685,790

Merchandise

 

220,931

510,143

Less: inventory provision

(2,853)

(149,667)

Total

 

2,056,352

8,191,386

Raw materials primarily consist of materials for volume production as well as spare parts used for aftersales services.

Finished goods include vehicles ready for transit at production factory, vehicles in transit to fulfill customer orders, new vehicles available for immediate sale at the Group’s sales and service center locations and charging piles.

Merchandise includes accessories and branded merchandise which can be redeemed by customer loyalty program.

Inventory write-downs recorded in cost of sales for the years ended December 31, 2020, 2021 and 2022 were RMB5,803, RMB1,105 and RMB148,729, respectively.