v3.25.2
Sales-type Lease Receivable
6 Months Ended
Jun. 30, 2025
Investments, All Other Investments [Abstract]  
Sales-type Lease Receivable

8. Sales-type Lease Receivable

 

The Group entered into a total of ten vehicle lease agreements with certain customers during the year ended December 31, 2023 and the Group delivered vehicles under sales-type leases.

 

Sales-type lease receivables-short term as of June 30, 2025 and December 31, 2024 was $79 and $249, respectively, and sales-type lease receivables-long term as of June 30, 2025 and December 31, 2024 was $40 and $230, respectively.

 

 

Interest income recognized for sales-type leases for the six months ended June 30, 2025 was $9.

 

   As of June 30 
   2025 
Lease receivables-long term   40 
Lease receivables-short term   79 
Total lease receivables   119 
Unguaranteed residual assets    
Net investment in leases   119 
Recorded in Prepaid expenses and other current assets   79 
Recorded in Net investment in leases- non-current   40 

 

Annual minimum undiscounted lease payments under the Group’s leases were as follows as of June 30, 2025:

 

   Sales-type 
Remaining of 2025   59 
Years Ending December 31,     
2026   54 
2027   15 
2028 and thereafter    
Total lease receipt payments   128 
Less: Imputed interest   (9)
Total lease receivables (1)   119 
Unguaranteed residual assets    
Net investment in leases (1)   119 

 

(1) Current portion of $79 of total lease receivables included in prepaid expenses and other current assets, net on the consolidated balance sheet.