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Balances and Transactions With Related Parties (Tables)
6 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
Schedule of Principal Related Parties The principal related parties with which the Company had transactions during the years presented are as follows:
Name of Entity or Individual   Relationship with the Company
New Era Group Zhejiang New Energy Materials Co., Ltd.   Shareholder of company’s subsidiary
Zhengzhou BAK Battery Co., Ltd   Note a
Shenzhen BAK Battery Co., Ltd   Former subsidiary and refer to Note b
Shenzhen BAK Power Battery Co., Ltd   Former subsidiary and refer to Note b
  (a) Mr. Xiangqian Li, the Company’s former CEO, is a director of Zhengzhou BAK Battery Co., Ltd.
  (b) Mr. Xiangqian Li is a director of Shenzhen BAK Battery Co., Ltd and Shenzhen BAK Power Battery Co., Ltd
Schedule of Related Party Transactions The Company entered into the following significant related party transactions:
   Three months ended
June 30,
   Six months ended
June 30,
 
   2022   2023   2022   2023 
Purchase of batteries from Zhengzhou BAK Battery Co., Ltd    $9,955,251   $341,751   $15,119,684   $3,502,924 
Sales of cathode raw materials to Zhengzhou BAK Battery Co., Ltd      $20,786,249   $7,669,547   $46,609,781   $16,993,386 
Sales of cathode raw materials to Shenzhen BAK Power Battery Co., Ltd  $4,616,479   $
-
   $4,728,947   $
-
 
Schedule of Receivables from Former Subsidiary Apart from the above, the Company recorded the following significant related party balances as of December 31, 2022 and June 30, 2023:
   December 31,
2022
   June 30,
2023
 
         
Receivables from Shenzhen BAK Power Battery Co., Ltd  $5,518,052   $323,973 
Less: Allowance for credit losses   
-
    
-
 
   $5,518,052    323,973 
Schedule of Other Balances Due from/ (to) related parties Balance as of December 31, 2022 and June 30, 2023 consisted of receivable for sales of cathode materials to Shenzhen BAK Power Battery Co., Ltd.
   December 31,
2022
   June 30,
2023
 
         
Trade receivable, net – Zhengzhou BAK Battery Co., Ltd. (i)  $9,156,383   $15,054,609 
           
Bills receivable – Issued by Zhengzhou BAK Battery Co., Ltd. (ii)    $2,941,683   $1,805,975 
           
Trade payable, net – Zhengzhou BAK Battery Co., Ltd (iii)  $5,629,343   $653,610 
           
Dividend payable to non-controlling interest of Hitrans (note 15)   $1,290,942   $1,229,613 
  (i)

Representing trade receivable from sales of cathode raw materials to Zhengzhou BAK Battery Co., Ltd. Up to the date of this report, Zhengzhou BAK Battery Co., Ltd. repaid $1.3 million to the Company.

  (ii) Representing bills receivable issued by Zhengzhou BAK Battery Co., Ltd. The Company endorsed the bills receivable as of December 31, 2022 to suppliers for settling trade payable subsequent to December 31, 2022. Bills receivable as of June 30, 2023 were pledged to bank as security for issuance of bills payable (note 13).
  (iii) Representing trade payable on purchase of batteries from Zhengzhou BAK Battery Co., Ltd.
Schedule of Payables to a Former Subsidiary Payables to former subsidiaries as of December 31, 2022 and June 30, 2023 consisted of the following:
   December 31,
2022
   June 30,
2023
 
Payables to Shenzhen BAK Power Battery Co., Ltd       $(358,067)  $(387,263)