REVENUES |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REVENUES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REVENUES |
The Group’s revenues were disaggregated by service lines as follows:
1 Others primarily include trainings, installed premium intelligent driving system and upgrades, free battery charging services, maintenance services and vehicle internet connection services. 2 Others primarily include commission service fee. Geographic information The following table summarizes the Group’s revenues by geographic areas based on customers locations:
Contract liabilities Contract liabilities consisted of the following:
*This item is included in accrued expenses and other current liabilities — related parties in the consolidated balance sheets as of December 31, 2025 and 2024. Contract liabilities represent transaction price allocated to the performance obligations that are not yet satisfied or partially satisfied, which primarily arises from the undelivered vehicles, intelligent driving system, household charging piles, charging cards, free battery charging service, the extended lifetime warranty, maintenance service, vehicle internet connection services as well as technical research and development services. Amounts that are expected to recognize as revenues within one-year are included as current contract liabilities with the remaining balance recognized as other non-current liabilities. Among the balance of contract liabilities of US$42,797 as of December 31, 2024, US$32,124 was recognized as revenue during the year ended December 31, 2025. The Group expects that US$30,445 of transaction price allocated to unsatisfied performance obligation as of December 31, 2025 will be recognized as revenues within one year. The remaining US$14,244 will be recognized over the remaining contract periods over 1 to 10 years. |
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