v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net loss $ (2,357,231) $ (2,049,897) [1] $ (1,181,875) [1]
Adjustments to reconcile net loss to net cash flows:      
Depreciation and amortization 52,724 55,719 [2] 115,445 [2]
Warranty provisions 89,480 34,710 [2] 66,158 [2]
Impairment of inventory (NRV) 155,958 89,744 [2] 146,550 [2]
Impairment of property, plant, and equipment, vehicles under operating leases, and intangible assets, net of reversals 1,049,851 622,092 [2] 339,568 [2]
Finance income (8,996) (23,879) [2] (32,329) [2]
Finance expense 385,190 341,182 [2] 213,242 [2]
Fair value changes - Earn-out rights and Class C shares (23,391) (129,124) [1] (465,168) [1]
Income tax benefit (3,692) (9,166) [2] (9,452) [2]
Share of losses in associates 49,145 4,970 [2] 43,304 [2]
Gain on sale of asset grouping 0 0 [2] (16,334) [2]
Net losses on derecognition and disposal of property, plant and equipment and intangible assets 31,433 5,606 [2] 10,892 [2]
Litigation provisions, net of insurance 3,344 (2,345) [2] 25,676 [2]
Other provisions 73,566 13,426 [2] 19,890 [2]
Exchange rate (income) loss, net (65,753) 62,386 [2] (10,449) [2]
Other non-cash expense and income 38,337 20,339 [2] (8,945) [2]
Changes in operating assets and liabilities:      
Inventories 292,229 (255,370) [2] (358,392) [2]
Contract liabilities 1,587 (32,286) [2] 77,424 [2]
Trade and other receivables, prepaid expenses, and other assets (134,054) 85,022 [2] (156,860) [2]
Trade payables, accrued expenses, and other liabilities (170,203) 464,887 [2] (488,842) [2]
Restricted deposits (25,433) (9,412) [2] 0 [2]
Interest received 9,135 21,120 [2] 32,280 [2]
Interest paid (336,972) (292,770) [2] (220,147) [2]
Taxes paid (21,243) (8,163) [2] (35,477) [2]
Cash used for operating activities (914,989) (991,209) [2] (1,893,841) [2]
Cash flows from investing activities      
Additions to property, plant, and equipment (158,713) (147,894) [2] (137,400) [2]
Additions to intangible assets (296,079) (209,101) [2] (435,584) [2]
Additions to investment in associates (63,700) (34,300) [2] 0 [2]
Additions to other non-current assets (7,203) (21,300) [2] 0 [2]
Proceeds from sale of property, plant and equipment 5,017 33 [2] 1,779 [2]
Proceeds from sale of asset grouping 0 0 [2] 153,586 [2]
Cash used for investing activities (520,678) (412,562) [2] (417,619) [2]
Cash flows from financing activities      
Changes in restricted deposits 0 0 [2] (1,906) [2]
Proceeds from short-term loans and borrowings 4,154,620 3,411,263 [2] 3,273,888 [2]
Proceeds from long-term loans and borrowings 191,322 938,474 [2] 1,381,738 [2]
Repayments of loans and borrowings (3,117,438) (2,889,899) [2] (2,553,008) [2]
Proceeds from equity issuance 498,343 0 [2] 0 [2]
Proceeds from related party capital contribution 0 0 [2] 25,565 [2]
Repayments of lease liabilities (33,752) (35,646) [2] (21,916) [2]
Cash provided by financing activities 1,693,095 1,424,192 [2] 2,104,361 [2]
Effect of foreign exchange rate changes on cash and cash equivalents 162,635 (49,448) [2] 1,486 [2]
Net increase (decrease) in cash and cash equivalents 420,063 (29,027) [2] (205,613) [2]
Cash and cash equivalents at the beginning of the period 739,237 [3] 768,264 [2] 973,877 [2]
Cash and cash equivalents at the end of the period $ 1,159,300 $ 739,237 [3] $ 768,264 [2]
[1] Certain figures and descriptions were re-presented (see Voluntary re-presentation from previous year in Note 2 - Material accounting policies and use of significant judgements and estimates).
[2] Certain figures and descriptions were re-presented (see Voluntary re-presentation from previous year in Note 2 - Material accounting policies and use of significant judgements and estimates).
[3] Certain figures and descriptions were re-presented (see Voluntary re-presentation from previous year in Note 2 - Material accounting policies and use of significant judgements and estimates).