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Property and Equipment, Net | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2025 | Dec. 31, 2024
Property and Equipment, Net [Abstract] |  |
PROPERTY AND EQUIPMENT, NET | 6. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consisted of the following:
|  | As of
|  | June 30, 2025 |  | December 31, 2024
|  | (Unaudited) |  |
Vehicles held for use |  | $ | 2,819 |  |  | $ | 3,234 |
Production facilities |  |  | 2,756 |  |  |  | 2,748 |
Electronic equipment |  |  | 776 |  |  |  | 775 |
Furniture |  |  | 284 |  |  |  | 283 |
Leasehold improvement |  |  | 114 |  |  |  | 114 |
Battery and charging swap infrastructure |  |  | 106 |  |  |  | 106 |
Less: accumulated depreciation |  |  | (1,833 | ) |  |  | (1,599 | )
Less: impairment of property and equipment |  |  | (3,063 | ) |  |  | (3,159 | )
Property and equipment, net |  | $ | 1,959 |  |  | $ | 2,502 |
Depreciation expenses were US$0.3 million and US$0.4 million for the six months ended June 30, 2025 and 2024, respectively. Disposal loss of property and equipment were US$0.1 million and US$0.02 million for the six months ended June 30, 2025 and 2024, respectively
|  | Amounts
Balance as of December 31, 2023 |  | $ | 3,186 |
Impairment made during the period |  |  | — |
Effect of exchange rate differences |  |  | (27 | )
Balance as of December 31, 2024 |  | $ | 3,159 |
Effect of exchange rate differences |  |  | (96 | )
Balance as of June 30, 2025 |  | $ | 3,063 |
| 8. PROPERTY AND EQUIPMENT, NET Property and equipment, net, consisted of the following:
|  | As of December 31,
|  | 2024 |  | 2023
Vehicles held for use |  | $ | 3,234 |  |  | $ | 3,212 |
Production facilities |  |  | 2,748 |  |  |  | 2,760 |
Electronic equipment |  |  | 775 |  |  |  | 779 |
Furniture |  |  | 283 |  |  |  | 280 |
Leasehold improvement |  |  | 114 |  |  |  | 114 |
Battery and charging swap infrastructure |  |  | 106 |  |  |  | 106 |
Less: Accumulated depreciation |  |  | (1,599 | ) |  |  | (868 | )
Less: Impairment of property and equipment(i) |  |  | (3,159 | ) |  |  | (3,186 | )
Property and equipment, net |  | $ | 2,502 |  |  | $ | 3,197 |
(i) Accumulated impairment loss of property and equipment was US$3.2 million as of December 31, 2024 and 2023, which was recognized on certain property and equipment associated with vehicle manufacturing. Depreciation expenses were US$0.8 million, US$0.8 million and US$0.04 million for the years ended December 31, 2024, 2023 and 2022, respectively. Impairment made for property and equipment was as follows:
|  | Amounts
Balance as of December 31, 2022 |  | $ | — |
Impairment made during the period |  |  | 3,183 |
Effect of exchange rate differences |  |  | 3 |
Balance as of December 31, 2023 |  | $ | 3,186 |
Impairment made during the period |  |  | — |
Effect of exchange rate differences |  |  | (27 | )
Balance as of December 31, 2024 |  | $ | 3,159 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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