8. PROPERTY AND EQUIPMENT, NET
Property and equipment, net, consisted of the
following:
| | |
As of December 31, | |
| | |
2024 | | |
2023 | |
| Vehicles held for use | |
$ | 3,234 | | |
$ | 3,212 | |
| Production facilities | |
| 2,748 | | |
| 2,760 | |
| Electronic equipment | |
| 775 | | |
| 779 | |
| Furniture | |
| 283 | | |
| 280 | |
| Leasehold improvement | |
| 114 | | |
| 114 | |
| Battery and charging swap infrastructure | |
| 106 | | |
| 106 | |
| Less: Accumulated depreciation | |
| (1,599 | ) | |
| (868 | ) |
| Less: Impairment of property and equipment (i) | |
| (3,159 | ) | |
| (3,186 | ) |
| Property and equipment, net | |
$ | 2,502 | | |
$ | 3,197 | |
| (i) | Accumulated impairment loss of property and equipment was US$3.2 million as of December 31, 2024 and 2023, which was recognized on certain property and equipment associated with vehicle manufacturing. |
Depreciation expenses were US$0.8 million, US$0.8
million and US$0.04 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Impairment made for property and equipment was
as follows:
| | |
Amounts | |
| Balance as of December 31, 2022 | |
$ | - | |
| Impairment made during the period | |
| 3,183 | |
| Effect of exchange rate differences | |
| 3 | |
| Balance as of December 31, 2023 | |
$ | 3,186 | |
| Impairment made during the period | |
| - | |
| Effect of exchange rate differences | |
| (27 | ) |
| Balance as of December 31, 2024 | |
$ | 3,159 | |
|