Property and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property and Equipment, Net [Abstract]

PROPERTY AND EQUIPMENT, NET

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