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REVENUES
 12 Months Ended
Dec. 31, 2023
REVENUES  
REVENUES

25.

REVENUES

The Group’s revenues are disaggregated by service lines as follows:

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Year ended December 31,

​

​

2023

​

2022

    

2021

​

    

US$

    

US$

    

US$

Service line

 

  

 

  

 

  

Sales of goods – third parties

 

  

 

  

 

  

 – BEV lifestyle models

 

464,172

 

—

 

—

 – Sports cars

​

183,160

​

828

​

369

 – Others

 

9,394

 

335

 

—

​

 

656,726

 

1,163

 

369

Sales of goods – related parties

 

​

 

​

 

​

 – BEV lifestyle models

​

1,093

​

—

​

—

 – Sports cars

​

951

​

—

​

—

 – Others

 

1,388

 

23

 

—

​

 

3,432

 

23

 

—

Subtotal

 

660,158

 

1,186

 

369

Services

 

​

 

​

 

​

 – related parties

 

12,573

 

8,344

 

3,280

 – third parties

 

6,277

 

27

 

38

Subtotal

 

18,850

 

8,371

 

3,318

Total revenues

 

679,008

 

9,557

 

3,687

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Geographic information

The following summarizes the Group’s revenues by geographic areas (based on the locations of customers):

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Year ended December 31,

​

​

2023

​

2022

    

2021

​

    

US$

    

US$

    

US$

Chinese mainland

 

419,448

 

8,816

 

3,109

UK

 

83,827

 

437

 

439

Japan

 

26,390

 

—

 

—

Australia

​

20,335

​

—

​

—

Belgium

​

20,701

​

—

​

—

France

​

16,341

​

—

​

—

Italy

​

14,650

​

—

​

—

Germany

​

15,904

​

—

​

—

Netherlands

​

13,729

​

—

​

—

Others

​

47,683

​

304

​

139

Revenues

 

679,008

 

9,557

 

3,687

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Contract Liabilities

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As of December 31,

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2023

    

2022

​

    

US$

    

US$

Current liabilities

 

  

 

  

 – Contract liabilities – third parties

 

44,184

 

7,843

 – Contract liabilities – related parties*

 

1

 

8

Non-current liabilities

 

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 – Contract liabilities – third parties

 

6,245

 

—

Contract liabilities, current and non-current

 

50,430

 

7,851

*This item is included in accrued expenses and other current liabilities — related parties in the consolidated balance sheets as of December 31, 2023 and 2022.

Among the balance of contract liabilities of US$7,851 as of December 31, 2022, US$ 5,438 was recognized as revenue during the year ended December 31, 2023.

The contract liabilities relate to up-front payments from the Group’s customers for purchase of vehicles or services in advance of transfer of the control of the products and services under the contract. Amounts that are expected to be recognized as revenues within one-year are included as current contract liabilities with the remaining balance recognized as other non-current liabilities.

The Group expects that US$333,985 of transaction price allocated to unsatisfied performance obligation as of December 31, 2023 will be recognized as revenues within one year. The remaining US$12,067 will be recognized over the remaining contract periods over 1 to 10 years.

The Group has elected, as a practical expedient, not to disclose the transaction price allocated to unsatisfied or partially unsatisfied performance obligations that are part of a contract that has an original expected duration of one year or less.