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Property, Equipment and Deposits | 12 Months Ended
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Dec. 31, 2023
Property, Equipment and Deposits [Abstract] |
PROPERTY, EQUIPMENT AND DEPOSITS | 5 - PROPERTY, EQUIPMENT AND DEPOSITS Property, equipment and deposits, net consisted of the following:
|  | Dec 31, 2023 |  |  | Dec 31, 2022 |
Rental vehicles |  |  | 30,262,689 |  |  |  | 28,950,519 |
Furniture and fixtures |  |  | 1,175,335 |  |  |  | 865,753 |
Leasehold improvements |  |  | 671,391 |  |  |  | 868,243 |
Less: Accumulated depreciation |  |  | (18,583,416 | ) |  |  | (11,356,857 | )
Total property and equipment, net |  |  | 13,525,999 |  |  |  | 19,327,658 |
Vehicle deposits |  |  | 5,476 |  |  |  | 95,226 |
Total property, equipment and deposits, net |  |  | 13,531,475 |  |  |  | 19,422,884 |
As of December 31, 2023, vehicle deposits amounting to US$ 5,476 (December 31, 2022: US$ 95,226), are mainly composed of down payments for electric scooters / electric bikes / electric mopeds. Depreciation expense relating to property and equipment was US$ 9,946,444, US$ 9,018,323 and US$ 5,450,858 for the years ended December 31, 2023, 2022 and 2021 respectively. During the years ended December 31, 2023, 2022 and 2021 the Group recognized US$ 547,665, US$ 143,527 and US$178,619 respectively, in losses related to the disposal of property and equipment. Rental vehicles amounting to US$ 30,262,689 (December 31, 2022: US$ 28,950,519 and December 31, 2021: US$ 16,324,134) 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, 2023, 2022 and 2021.
|  | Dec 31, 2023 |  |  | Dec 31, 2022 |  |  | Dec 31, 2021 |
Cost of revenues |  |  | 9,347,183 |  |  |  | 8,456,349 |  |  |  | 5,203,696 |
General and administrative expenses |  |  | 599,261 |  |  |  | 561,974 |  |  |  | 247,162 |
Total depreciation |  |  | 9,946,444 |  |  |  | 9,018,323 |  |  |  | 5,450,858 |

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