v3.22.2.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net loss $ (124,502) $ (159,844)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of property, plant and equipment 11 6
Depreciation of property, plant and equipment 15,161 14,398
Amortization of land use right and intangible assets 420 499
Noncash lease expenses 1,662 0
Share-based compensation 72,925 58,290
Changes in fair value of warrant liability (921) (1,113)
Changes in fair value of convertible notes 0 9,861
Allowance of credit losses 337 261
Provision for obsolete inventories 3,148 12,667
Impairment loss from property, plant and equipment 1,546 867
Product warranty 8,263 44,610
Changes in operating assets and liabilities:    
Notes receivable 1,386 10,782
Accounts receivable (5,024) 9,425
Inventories (39,517) (15,127)
Prepaid expenses and other current assets (3,764) (6,874)
Amount due from/to related parties 85 (128)
Operating lease right-of-use assets (19,284) 0
Other non-current assets 216 52
Notes payable 19,942 6,868
Accounts payable (529) (5,944)
Advance from customers 5,608 (130)
Accrued expenses and other liabilities (12,203) (6,371)
Operating lease liabilities 15,389 0
Other non-current liabilities 1,050 2,292
Net cash used in operating activities (58,595) (24,653)
Cash flows from investing activities    
Purchases of property, plant and equipment (84,722) (40,718)
Proceeds on disposal of property, plant and equipment 3 0
Net cash used in investing activities (84,719) (40,718)
Cash flows from financing activities    
Proceeds from borrowings 58,708 26,603
Repayment of bank borrowings (24,482) (15,665)
Loans borrowing from related parties 0 8,426
Repayment of related party loans 0 (8,426)
Merger and Private Investment in Public Equity (“PIPE”) financing 0 747,791
Payment for transaction fee in connection with the merger 0 (42,821)
Payment to exited noncontrolling interests 0 (139,038)
Issuance of convertible notes 0 57,500
Net cash generated from financing activities 34,226 634,370
Effect of exchange rate changes (11,322) 2,314
Decrease in cash, cash equivalents and restricted cash (120,410) 571,313
Cash, cash equivalents and restricted cash at beginning of the period 536,109 41,196
Cash, cash equivalents and restricted cash at end of the period 415,699 612,509
Cash and cash equivalents 295,816 572,609
Restricted cash 119,883 39,900
Total cash, cash equivalents and restricted cash $ 415,699 $ 612,509