v3.25.1
Inventories, Net
12 Months Ended
Dec. 31, 2024
Inventories, Net [Abstract]  
INVENTORIES, NET

6. INVENTORIES, NET

 

Inventories, net consisted of the following:

 

   As of December 31, 
   2024   2023 
Smart electric vehicles  $1,313   $175 
Vehicles in production   
-
    6,545 
Auto parts and other materials   1,110    1,050 
Total  $2,423   $7,770 

 

During the years ended December 31, 2024, 2023, and 2022, the Group recognized inventory write-downs of US$0.9 million, US$16.1 million, and nil, respectively, within cost of revenues. The write-down in 2024 was primarily due to the estimated net realizable value of the related inventories falling below their carrying cost.