| Property, Plant and Equipment, Net |
8. Property, Plant and Equipment, Net Property, plant and equipment, net consist of the following: | | | | | | | As of December 31, | | | 2024 | | 2025 | Production machineries, facilities and equipment | | 9,171,888 | | 12,525,627 | Mold and tooling | | 5,297,297 | | 7,285,856 | Building and building improvements | | 4,752,426 | | 6,432,742 | Construction in process | | 3,293,537 | | 921,617 | Leasehold improvements | | 2,803,507 | | 3,387,938 | Motor vehicles | | 2,143,894 | | 2,482,091 | Total | | 27,462,549 | | 33,035,871 | Less: Accumulated depreciation | | (6,294,080) | | (10,233,542) | Less: Accumulated impairment loss | | (27,536) | | (27,391) | Total property, plant and equipment, net | | 21,140,933 | | 22,774,938 |
The Group recorded depreciation expenses of RMB1,758,370,RMB2,994,826 and RMB4,525,501 for the years ended December 31, 2023, 2024 and 2025, respectively.
|