XML 36 R27.htm IDEA: XBRL DOCUMENT
v3.23.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Disaggregation of Revenue | The following table disaggregates the Company’s revenues by product line for the six months ended June 30, 2023 and 2022:
|  | For the Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |
Vehicles sales |  | $ | 7,226,049 |  |  | $ | 4,852,930 |
Spare-parts sales |  |  | 344,702 |  |  |  | 84,626 |
Other service income |  |  | 137,313 |  |  |  | 97,766 |
Net revenues |  | $ | 7,708,064 |  |  | $ | 5,035,322 |
The Company’s revenues are derived from Europe, Asia and America. The following table sets forth disaggregation of revenue by customer location.
|  | For the Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |
Primary geographical markets |  |  |  |
Europe |  | $ | 5,531,486 |  |  | $ | 2,963,630 |
Asia |  |  | 2,079,876 |  |  |  | 1,644,209 |
America |  |  | 96,702 |  |  |  | 427,483 |
Total |  | $ | 7,708,064 |  |  | $ | 5,035,322 |
Receivables and Contractual Liabilities from Contracts with Customers | The following table provides information about receivables and contractual liabilities from contracts with customers:
|  | June 30, 2023 |  |  | December 31, 2022 |
Accounts receivable, net |  | $ | 2,646,333 |  |  | $ | 565,398 |
Contractual liabilities |  | $ | 3,314,661 |  |  | $ | 2,388,480 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration