v3.26.1
PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
Disclosure of detailed information about property, plant and equipment [abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
As of December 31,
20252024
Carrying amount
Batteries$360,853 $357,842 
Machinery equipment27,061 38,134 
Transportation equipment540 876 
Tooling equipment4,661 4,060 
Office equipment176 86 
Leasehold improvements6,080 7,291 
Construction in progress20,594 29,966 
$419,965 $438,255 
For the Year Ended December 31, 2025
BatteriesMachinery
Equipment		Transportation
Equipment		Tooling
Equipment		Office
Equipment		Leasehold
Improvements		Construction
in Progress		Total
Cost
Balance as of January 1$605,737 $138,297 $11,329 $47,606 $2,862 $41,145 $45,712 $892,688 
Additions (Note a)56,281 2,760 104 4,084 73 1,381 844 65,527 
Disposals (Note b)(30,147)(13,607)(178)(13,125)(818)(4,614)— (62,489)
Reclassifications— — — — — 1,542 (9,175)(7,633)
Exchange differences on translation26,640 6,993 475 1,753 127 1,780 (376)37,392 
Balance as of December 31658,511 134,443 11,730 40,318 2,244 41,234 37,005 925,485 
Accumulated depreciation
Balance as of January 1246,591 87,008 10,353 40,926 2,553 33,669 — 421,100 
Depreciation expenses52,863 16,630 477 3,532 206 3,314 — 77,022 
Disposals(13,725)(3,277)(174)(12,999)(826)(3,466)— (34,467)
Exchange differences on translation10,687 3,552 439 1,694 113 1,444 — 17,929 
Balance as of December 31296,416 103,913 11,095 33,153 2,046 34,961 — 481,584 
Accumulated impairment
Balance as of January 11,304 13,155 100 2,620 223 185 15,746 33,333 
Impairment loss (Note c)— — — — — — 1,732 1,732 
Disposals— (9,894)— — (201)— — (10,095)
Exchange differences on translation(62)208 (5)(116)— 8 (1,067)(1,034)
Balance as of December 311,242 3,469 95 2,504 22 193 16,411 23,936 
       
Carrying amount as of December 31$360,853 $27,061 $540 $4,661 $176 $6,080 $20,594 $419,965 
For the Year Ended December 31, 2024
BatteriesMachinery
Equipment		Transportation
Equipment		Tooling
Equipment		Office
Equipment		Leasehold
Improvements		Construction
in Progress		Total
Cost
Balance as of January 1$602,886 $138,831 $11,560 $43,392 $3,266 $39,256 $46,225 $885,416 
Additions (Note a)71,964 9,955 765 4,871 117 1,984 44,454 134,110 
Disposals (Note b)(28,743)(2,715)(252)(194)(330)(539)(46)(32,819)
Reclassifications— 557 — 2,412 — 3,027 (5,996)— 
Exchange differences on translation(40,370)(8,331)(744)(2,875)(191)(2,583)(38,925)(94,019)
Balance as of December 31605,737 138,297 11,329 47,606 2,862 41,145 45,712 892,688 
Accumulated depreciation
Balance as of January 1222,613 74,394 10,081 39,998 2,483 32,584 — 382,153 
Depreciation expenses53,536 20,016 1,169 3,676 359 3,739 — 82,495 
Disposals(14,001)(2,295)(236)(142)(127)(519)— (17,320)
Exchange differences on translation(15,557)(5,107)(661)(2,606)(162)(2,135)— (26,228)
Balance as of December 31246,591 87,008 10,353 40,926 2,553 33,669 — 421,100 
Accumulated impairment
Balance as of January 1— 1,354 — — 33 — — 1,387 
Impairment loss (Note c)1,304 11,816 100 2,621 190 186 15,746 31,963 
Exchange differences on translation— (15)— (1)— (1)— (17)
Balance as of December 311,304 13,155 100 2,620 223 185 15,746 33,333 
Carrying amount as of December 31$357,842 $38,134 $876 $4,060 $86 $7,291 $29,966 $438,255 
For the Year Ended December 31, 2023
BatteriesMachinery
Equipment		Transportation
Equipment		Tooling
Equipment		Office
Equipment		Leasehold
Improvements		Construction
in Progress		Total
Cost
Balance as of January 1$530,113 $131,541 $11,292 $40,934 $2,796 $36,956 $2,206 $755,838 
Additions (Note a)78,511 18,369 197 3,699 561 2,524 45,432 149,293 
Disposals (Note b)(9,365)(10,436)(219)(1,273)(96)(1,091)(85)(22,565)
Reclassifications204 190 281 — — 828 (1,503)— 
Exchange differences on translation3,423 (833)9 32 5 39 175 2,850 
Balance as of December 31602,886 138,831 11,560 43,392 3,266 39,256 46,225 885,416 
Accumulated depreciation
Balance as of January 1170,240 66,866 7,641 37,561 2,306 28,255 — 312,869 
Depreciation expenses54,361 18,635 2,560 3,676 270 5,283 — 84,785 
Disposals(5,031)(10,398)(52)(1,268)(96)(1,020)— (17,865)
Exchange differences on translation3,043 (709)(68)29 3 66 — 2,364 
Balance as of December 31222,613 74,394 10,081 39,998 2,483 32,584 — 382,153 
Accumulated impairment
Impairment loss (Note c)— 1,354 — — 33 — — 1,387 
Balance as of December 31— 1,354 — — 33 — — 1,387 
Carrying amount as of December 31$380,273 $63,083 $1,479 $3,394 $750 $6,672 $46,225 $501,876 
a.Based on the deployment plan for the next 12 months, the Company classified $20.0 million, $27.7 million and $37.4 million of undeployed battery packs and related battery cells in property, plant and equipment as of December 31, 2025, 2024 and 2023, respectively.
b.Certain upgrades to batteries were carried out during the years ended December 31, 2025, 2024 and 2023. The components removed from the batteries which have no future economic benefit from their uses or disposal, were derecognized. The losses on derecognition of removed components amounting to $13.2 million, $11.5 million and $2.6 million were recognized under “Costs of revenues” in profit or loss for the years ended December 31, 2025, 2024 and 2023, respectively. Costs of replacement were recognized as “Property, plant and equipment”. The remaining estimated useful lives of certain batteries were extended as a result of the upgrades. Losses on disposals on property, plant and equipment other than the upgrades to batteries amounting to $4.4 million, $2.6 million and $1.6 million were recognized under “Other operating expenses” in profit or loss for the years ended December 31, 2025, 2024 and 2023, respectively.
c.As of December 31, 2025, 2024 and 2023, the Company reduced the carrying amounts of certain property, plant and equipment which were under-utilized to their estimated recoverable amounts determined on the basis of their fair value less costs to sell using the cost approach, of which the fair value was based on the replacement costs in the market, taking into account of obsolescence. The fair value measurements were categorized within Level 3 of the fair value hierarchy. Impairment losses amounting to $1.7 million, $32.0 million and $1.4 million were recognized under "Other operating expenses" in profit or loss for the years ended December 31, 2025, 2024 and 2023, respectively.
d.Property, plant and equipment were depreciated on a straight-line basis over the estimated useful lives of the assets:
Batteries
3-12 years
Machinery equipment
2-5 years
Transportation equipment
1-5 years
Tooling equipment
2 years
Office equipment
3-5 years
Leasehold improvements
1-10 years
e.Supplementary cash flow information
For the Year Ended December 31
202520242023
Additions to property, plant and equipment$65,527 $134,110 $149,293 
Changes in prepayments for property, plant and equipment(645)(9,587)5,671 
Changes in payables for property, plant and equipment115 (103)275 
Transfer from inventories— — (37,423)
Payments for acquisitions of property, plant and equipment$64,997 $124,420 $117,816