| Property, Plant and Equipment, Net |
9. Property, Plant and Equipment, Net Property, plant and equipment, net consist of the following: | | | | | | | As of December 31, | | | 2023 | | 2024 | Production machineries, facilities and equipment | | 5,289,171 | | 9,171,888 | Mold and tooling | | 3,382,614 | | 5,297,297 | Buildings | | 2,414,577 | | 4,390,418 | Construction in process | | 4,583,131 | | 3,293,537 | Leasehold improvements | | 1,997,932 | | 2,803,507 | Motor vehicles | | 1,457,271 | | 2,143,894 | Buildings improvements | | 311,045 | | 362,008 | Total | | 19,435,741 | | 27,462,549 | Less: Accumulated depreciation | | (3,663,187) | | (6,294,080) | Less: Accumulated impairment loss | | (27,536) | | (27,536) | Total property, plant and equipment, net | | 15,745,018 | | 21,140,933 |
The Group recorded depreciation expenses of RMB1,194,781,RMB1,758,370 and RMB2,994,826 for the years ended December 31, 2022, 2023 and 2024, respectively.
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