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Related Party Transactions (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Related Party Transactions [Abstract] |
Schedule of names and relationship of related parties |
| Existing Relationship with the Company
Sinomachinery Holding Limited |  | Under common control of Peter Zuguang Wang
Cenntro Holding Limited |  | Controlling shareholder of the Company
Zhejiang Kangchen Biotechnology Co., Ltd. |  | Under common control of Peter Zuguang Wang
Cenntro Smart Manufacturing Tech. Co., Ltd. |  | Under common control of Peter Zuguang Wang
Zhejiang Zhonggong Machinery Co., Ltd. |  | Under common control of Peter Zuguang Wang
Xinchang County Jiuxin Investment Management Partnership (LP) |  | Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) |  | Under common control of Peter Zuguang Wang
Hangzhou Cenntro Autotech Co., Limited |  | Under common control of Peter Zuguang Wang
Peter Zuguang Wang |  | Chairman of the Company
Greenland Asset Management Corporation |  | Shareholder of the Company
Hangzhou Jiuru Economic Information Consulting Co. Ltd |  | One of the directors of Hengyu
Xinchang County Jiuhe Investment Management Partnership (LP) |  | Under control of Mr. Mengxing He, the General Manger and one of the directors of Zhejiang Zhongchai/NCI of Zhejiang Zhongchai
Cenntro Automotive Corporation |  | Under common control of Peter Zuguang Wang
Schedule of due to related parties |
|  | As of |
|  | December 31, 2022 |  |  | December 31, 2021 |
Due to related parties: |  |  |  |  |  |
Zhejiang Zhonggong Machinery Co., Ltd.1 |  | $ | 64,563 |  |  | $ | 409,807 |
Cenntro Smart Manufacturing Tech. Co., Ltd.2 |  |  | 2,683 |  |  |  | 2,903 |
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership)3 |  |  | 94,442 |  |  |  | 94,442 |
Cenntro Holding Limited4 |  |  | 1,341,627 |  |  |  | 1,341,627 |
Cenntro Automotive Corporation4 |  |  | - |  |  |  | 11,462 |
Xinchang County Jiuxin Investment Management Partnership (LP)4 |  |  | - |  |  |  | 1,569,218 |
Hangzhou Jiuru Economic Information Consulting Co. Ltd4 |  |  | 190,000 |  |  |  | 190,000 |
Total |  | $ | 1,693,315 |  |  | $ | 3,619,459 |
1 | Unpaid balances for purchasing of materials and equipment and temporary borrowing from Zhejiang Zhonggong Machinery Co., Ltd.;
2 | Prepayment from Cenntro Smart Manufacturing Tech. Co., Ltd.
3 | Temporary borrowings from Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership); and
4 | Borrowings from related parties.
Schedule of due from related parties |
|  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Due from related parties-current: |  |  |  |  |  |
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) |  |  | 214,245 |  |  |  | 219,691 |
Cenntro Holding Limited |  | $ | 36,455,662 |  |  | $ | 39,459,874 |
Total |  | $ | 36,669,907 |  |  | $ | 39,679,565 |
Schedule of related party funds lending |
|  | For the years ended December 31, |
|  | 2022 |  |  | 2021 |
Withdraw funds from related parties: |  |  |  |  |  |
Zhejiang Zhonggong Machinery Co., Ltd. |  | $ | - |  |  | $ | 77,611 |
Cenntro Holding Limited |  |  | - |  |  |  | 251,973 |
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) |  |  | 207,352 |  |  |  | 35,080 |
Peter Zuguang Wang |  |  | - |  |  |  | 25,000 |
Cenntro Smart Manufacturing Tech. Co., Ltd. |  |  | 74,054 |  |  |  | 29,647 |
|  | For the years ended December 31, |
|  | 2022 |  |  | 2021 |
Deposit funds with related parties: |  |  |  |  |  |
Zhejiang Zhonggong Machinery Co., Ltd. |  | $ | 394,892 |  |  | $ | 139,699 |
Zhuhai Hengzhong Industrial Investment Fund (Limited Partnership) |  |  | 209,383 |  |  |  | 677,697 |
Xinchang County Jiuxin Investment Management Partnership (LP) |  |  | 1,481,087 |  |  |  | 2,851,515 |
Cenntro Smart Manufacturing Tech. Co., Ltd. |  |  | 74,054 |  |  |  | 36,632 |
Peter Zuguang Wang |  |  | - |  |  |  | 25,000 |
Cenntro Holding Limited |  |  | - |  |  |  | 250,000 |
Zhejiang Kangchen Biotechnology Co., Ltd |  |  | - |  |  |  | 64,505 |

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI https://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=123419778&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5728-111685 + Details
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