v3.26.1
Unaudited Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (842,448) $ (1,193,079) [1]
Adjustments to reconcile net loss to net cash flows:    
Depreciation and amortization 12,137 32,333
Warranty provisions 35,414 40,828
Impairment of inventory 87,752 81,056
Impairment (reversal) expense of property, plant, and equipment, vehicles under operating leases, and intangible assets, net (1,154) 723,524
Finance income (5,256) (52,797)
Finance expense 205,162 185,319
Fair value change - Earn-out rights and Class C Shares (6,374) (15,813) [1]
Income tax benefit (expense) 5,255 (43,485)
Share of losses in associates 0 24,261
Net losses (gains) on derecognition and disposal of property, plant and equipment and intangible assets 12,908 (286)
Litigation provisions, net of insurance 0 (583)
Other provisions 64,775 35,993
Exchange rate income (loss), net 34,504 (38,546)
Other non-cash expense and income (16,217) 40,931
Changes in operating assets and liabilities:    
Inventories 37,641 345,169
Contract liabilities (5,461) (6,720)
Trade receivables, prepaid expenses, and other assets 64,070 (149,266)
Trade payables, accrued expenses, and other liabilities (340,108) (335,281)
Restricted deposits (17,689) (2,565)
Interest received 1,629 1,867
Interest paid (164,338) (146,545)
Taxes paid (12,108) (23,967)
Cash used for operating activities (849,906) (497,652)
Cash flows from investing activities    
Additions to property, plant, and equipment (66,358) (88,032)
Additions to intangible assets (145,216) (201,581)
Additions to investment in associates 0 (38,816)
Reductions to other non-current assets 702 460
Proceeds from sale of property, plant and equipment 19 6,294
Cash used for investing activities (210,853) (321,675)
Cash flows from financing activities    
Proceeds from short-term borrowings 1,728,328 1,954,240
Proceeds from long-term borrowings 12,873 0
Repayments of borrowings (1,622,852) (1,455,817)
Proceeds from equity issuance 700,000 200,000
Repayments of lease liabilities (16,301) (10,968)
Transaction costs (33,323) 0
Cash provided by financing activities 768,725 687,455
Effect of foreign exchange rate changes on cash and cash equivalents 20,311 111,260
Net decrease in cash and cash equivalents (271,723) (20,612)
Cash and cash equivalents at the beginning of the period 1,159,300 739,237
Cash and cash equivalents at the end of the period $ 887,577 $ 718,625
[1] Certain figures and descriptions were re-presented (see Voluntary re-presentation from previous year in Note 2 - Material accounting policies and judgements).