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PROPERTY, EQUIPMENT AND DEPOSITS | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2023 | Dec. 31, 2022
PROPERTY, EQUIPMENT AND DEPOSITS |  |
PROPERTY, EQUIPMENT AND DEPOSITS | 4 — PROPERTY, EQUIPMENT AND DEPOSITS Property, equipment and deposits, net consisted of the following: ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, 2023 |  | December 31, 2022
Rental vehicles |  | 31,194,264 |  | 28,950,519
Furniture and fixtures |  | 1,101,680 |  | 865,753
Leasehold improvements |  | 1,032,604 |  | 868,243
Less: Accumulated depreciation |  | (14,863,935) |  | (11,356,857)
Total property and equipment, net |  | 18,464,613 |  | 19,327,658
Vehicle deposits |  | 224,500 |  | 95,226
Total property, equipment and deposits, net |  | 18,689,113 |  | 19,422,884
​ As of June 30, 2023, vehicle deposits amounted to US$ 224,500 (December 31, 2022; US$ 95,226), they are mainly composed of down payments for electric scooters / electric bikes / electric mopeds that are expected to be delivered within 4 months beginning from date of initial payment. The following table summarizes the depreciation expenses recorded in the interim condensed consolidated statement of operations for the periods ended at June 30, 2023 and 2022. ​
​ | ​ | ​ | ​ | ​
​ |  | June 30, 2023 |  | June 30, 2022
Cost of revenues |  | 4,283,624 |  | 4,495,893
General and administrative expenses |  | 388,302 |  | 337,729
Total depreciation |  | 4,671,926 |  | 4,833,622
​ ​ | 4 — PROPERTY, EQUIPMENT AND DEPOSITS Property, equipment and deposits, net consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31, |  | December 31,
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
Rental vehicles |  | 28,950,519 |  | 16,324,134 |  | 4,800,937
Furniture and fixtures |  | 865,753 |  | 376,507 |  | 383,937
Leasehold improvements |  | 868,243 |  | 564,795 |  | 433,296
Less: Accumulated depreciation |  | (11,356,857) |  | (3,638,874) |  | (1,921,293)
Total property and equipment, net |  | 19,327,658 |  | 13,626,562 |  | 3,696,877
Vehicle deposits |  | 95,226 |  | 6,735,549 |  | 3,947,834
Total property, equipment and deposits, net |  | 19,422,884 |  | 20,362,111 |  | 7,644,711
​ As of December 31, 2022, vehicle deposits amounting to US$ 95,226 (December 31, 2021: US$ 6,735,549 and December 31, 2020: US$ 3,947,834), are mainly composed of down payments for electric scooters / electric bikes / electric mopeds that are expected to be delivered within 4 months beginning from date of initial payment. Depreciation expense relating to property and equipment was US$ 9,018,323, US$ 5,450,858 and US$ 2,714,309 for the years ended December 31, 2022, 2021 and 2020 respectively. During the years ended December 31, 2022, 2021 and 2020 the Group recognized US$ 143,527, US$ 178,619 and US$ 12,045 respectively, in losses related to the disposal of property and equipment. Rental vehicles amounting to US$ 28,950,519 (December 31, 2021: US$ 16,324,134 and December 31, 2020: None) were pledged to PFG in relation to the loan and security agreements with PFG dated January 2021, October 2022 and December 2022. The following table summarizes the depreciation expenses recorded in the consolidated statement of operations for the years ended at December 31, 2022, 2021 and 2020. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31, |  | December 31,
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
Cost of revenues |  | 8,456,349 |  | 5,203,696 |  | 2,411,051
General and administrative expenses |  | 561,974 |  | 247,162 |  | 303,258
Total depreciation |  | 9,018,323 |  | 5,450,858 |  | 2,714,309
​

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