XML 32 R12.htm IDEA: XBRL DOCUMENT v3.25.4

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

X

- 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

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X

- References

No definition available.

+ Details

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