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Construction in Progress | 12 Months Ended
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Dec. 31, 2022
Construction in Progress [Abstract] |
Construction in Progress | 8. Construction in Progress Construction in progress as of December 31, 2021 and 2022 consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2021 |  |  | 2022 |
Construction in progress |  | $ | 21,619,522 |  |  | $ | 7,828,975 |
Prepayment for acquisition of property, plant and equipment |  |  | 5,723,570 |  |  |  | 2,125,227 |
Carrying amount |  | $ | 27,343,092 |  |  | $ | 9,954,202 |
Construction in progress as of December 31, 2021 and 2022 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power, Nanjing CBAK and Hitrans. For the years ended December 31, 2021 and 2022, the Company capitalized interest of $307,426 and $162,052, respectively, to the cost of construction in progress.

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