v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
4PROPERTY AND EQUIPMENT

 

Property plant and equipment, net consisted of the following:

 

   March 31,
2026		   December 31,
2025		 
Rental vehicles   26,992,348         26,899,522 
Furniture and fixtures   1,505,387    1,479,966 
Leasehold improvements   892,125    879,092 
Less: Accumulated depreciation   (27,389,553)   (26,604,770)
Total property and equipment   2,000,307    2,653,810 

 

Depreciation expense relating to property and equipment was US$784,783 and US$913,878 for the periods ended March 31, 2026 and 2025 respectively.

The following table summarizes the depreciation expenses recorded in the unaudited interim condensed consolidated statements of operations and comprehensive loss for the periods ended March 31, 2026 and 2025:

 

   January 1 -   January 1 - 
   March 31, 2026   March 31, 2025 
Cost of revenues   631,233    834,319 
General and administrative expenses   153,550    79,559 
Total   784,783    913,878