v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 148 $ 23,188
Restricted cash 1,139 202
Accounts receivable, net 2,339
Advance to suppliers, net 143 471
Inventories, net 2,423 7,770
Prepaid expenses and other current assets, net 28,699 33,702
Total current assets 32,552 82,870
Non-current assets:    
Property and equipment, net 2,502 3,197
Intangible assets, net 28 35
Operating lease right-of-use asset, net 6,383 9,230
PIPE escrow account 55,000
Long-term investments 15,918
Total non-current assets 8,913 83,380
TOTAL ASSETS 41,465 166,250
Current liabilities:    
Accounts payable 25,308 25,114
Advance from customers 85 384
Loans from a third party 13,417 12,019
Warrant liabilities 52 288
Accrued expenses and other current liabilities 56,821 33,115
Lease liabilities, current 2,250 3,014
Total current liabilities 103,228 98,241
Non-current liabilities:    
Lease liabilities, non-current 4,804 7,075
Total non-current liabilities 4,804 7,075
TOTAL LIABILITIES 108,032 105,316
Shareholders’ (deficit) equity    
Additional paid-in capital 678,528 633,528
Accumulated deficit (737,049) (564,514)
Accumulated other comprehensive loss (4,105) (4,294)
NWTN Shareholders’ (deficit) equity (62,596) 64,750
Non-controlling interests (3,971) (3,816)
Total Shareholders’ (deficit) equity (66,567) 60,934
TOTAL LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY 41,465 166,250
Related Party    
Current assets:    
Amounts due from related parties, net 15,198
Current liabilities:    
Amounts due to related parties 5,295 24,307
Class A Ordinary Shares    
Shareholders’ (deficit) equity    
Ordinary shares value [1] 4 4
Class B Ordinary Shares    
Shareholders’ (deficit) equity    
Ordinary shares value [1] $ 26 $ 26
[1] Shares are related to the reverse recapitalization for the business combination and reorganization for the founding shareholders are presented on a retroactive basis to reflect both the reverse recapitalization and the reorganization.