What is the global number of Company stores?  
How many countries and regions has Company entered for daily use vehicles?
As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of December 31, 2023, Company had 215 stores in its global distribution network, and plans to expand the retail network to over 300 stores by 2025. In 2023, Company delivered a total of 6,970 vehicles, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. As of December 31, 2023, Company had 3,180 full-time employees globally, including in China and Europe, among which approximately 56.7% belong to the R&D division. Company's ability to successfully operate its Global Commercial Platform will affect its ability to increase revenues. Company has taken steps to diversify its revenue sources, for example, by entering into the Distribution Agreement with Subsidiary B, pursuant to which Company is the exclusive global distributor (excluding the U.S., where Subsidiary A will act as the head distributor with the existing regional distributor continuing its functions) for Subsidiary B to distribute Subsidiary B vehicles, parts, and certain tools, and to provide aftersales services, branding, marketing, and public relations for such vehicles, parts, and tools distributed by Company. As of December 31, 2023, Company had 215 stores in its global distribution network. Major vehicle models currently in Company's global sales and distribution network include Model A, Model B, and future battery electric vehicle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Model C (battery electric vehicle sports car) and Model D (internal combustion engine sports car). In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company and Subsidiary B have entered into a master distribution agreement pursuant to which a subsidiary of Company is appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future lifestyle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of June 30, 2024, Company had 207 stores in its global distribution network. As of June 30, 2024, Company had 207 stores in its global distribution network, and it plans to continue expanding its retail network. In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. The growth of the global luxury car segment is expected to outpace that of the overall car market. Within the global battery electric vehicle (BEV) market, the luxury BEV segment is expected to outgrow the mass market BEV segment. Company is well positioned to capitalize on the growth momentum of the global luxury BEV segment by leveraging the following strategies. Company and Subsidiary B have entered into the Distribution Agreement pursuant to which a subsidiary of Company will be appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of December 31, 2023, Company had 215 stores in its global distribution network, and plans to expand its retail network to over 300 stores by 2025. The Company brand is closely associated with “customer engagement” and “community building,” and in order to provide customers with a luxurious experience, Company has adopted a direct-to-consumer global sales and distribution strategy that focuses on establishing and developing direct relationships with customers, especially in selected regions including China, Europe, and the U.S., which represent some of the key areas driving fast growth in the global battery electric vehicle markets. By offering a luxurious purchasing experience and superior customer service, Company expects to further deepen its penetration in the global market and aims to establish a total of over 300 stores globally by 2025. Develop next-generation electric vehicle technologies while monetizing Company’s R&D prowess. Company intends to continuously develop and enhance proprietary cutting-edge technologies, including the 800-volt EPA architecture and hardware, algorithm, and software systems to enhance the competitiveness of its vehicles, supported by continuous R&D investment. All of Company's proprietary technologies are built with the principle of “For the Drivers,” while inheriting its unique design language and philosophy. By building upon Company's iconic sports car reputation, along with the ambition to invest in a lifestyle business, the company has established a strong commercial organizational competence. Company's marketing activities include branding, global marketing campaigns, public relations, digital marketing, creative product marketing, communications, social media, and other marketing programs. The company aims to create demand and expand its customer base globally. Company plans to build a network of around 300 retail stores globally by the end of 2025. Company believes that one of the most effective forms of marketing is to continually improve customers’ experience. The omni-channel sales model is customer-oriented, where customers can both access the online platform to customize their vehicles, make payments, and order aftersales services, and visit in person to consult the sales team and reserve test-driving sessions. Company's marketing department is responsible for building the brand and corporate image, promoting products, facilitating a best-in-class customer experience, and providing information regarding the company's products, strategies, and technology through the omni-channel sales model. Company and Subsidiary B have entered into a Distribution Agreement pursuant to which a subsidiary of Company is appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including Eletre, Emeya, and future lifestyle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of June 30, 2024, Company had 207 stores in its global distribution network, and plans to continue expanding its retail network. In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. In particular, in China, Company's vehicles are sold either directly to users (rather than through dealerships) or through city partners that act as sales agents and collect sales commissions on such sales. As of December 31, 2023, Company had 215 stores in its global distribution network. Company plans to further expand its physical sales network through a balanced combination of company-operated stores and partner stores. This planned expansion may not have the desired effect of increasing sales and enhancing brand recognition in a cost-efficient manner. Company may need to invest significant capital and management resources to operate existing company-operated stores and open new ones, and there can be no assurance that Company will be able to improve the operational efficiency of its company-operated stores. Company's direct-to-consumer approach to vehicle distribution is relatively new, and its long-term effectiveness is unproven, especially in China. This approach subjects Company to substantial risks as it requires, in the aggregate, significant expenditures and provides for slower expansion of its distribution and sales systems compared to the traditional dealership system. The Distribution Agreement also provides that each year Company and Subsidiary B will prepare business plans and annual targets taking into account historical sales figures, forecast demand, national, regional, and local trends, and Subsidiary B’s production capacity for the vehicles. Additionally, pursuant to the Distribution Agreement, existing stores and dealers of Subsidiary B are transferred to Company. As of June 30, 2024, Company had 207 stores in its global distribution network. Major vehicle models under the Distribution Agreement include Eletre, Emeya, and future lifestyle models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Evija (BEV sports car) and Emira (ICE sports car). In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company and Subsidiary B have entered into a Distribution Agreement pursuant to which a subsidiary of Company will be appointed as the global distributor for Subsidiary B. As such, Company has established a Global Commercial Platform to distribute Company branded vehicle models, including the Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as the Evija (BEV sports car) and Emira (ICE sports car). Company believes this is the most efficient approach to market Company cars and promote the Company brand globally. As of December 31, 2023, Company had 215 stores in its global distribution network, and it plans to expand its retail network to over 300 stores by 2025.
In 2023 and the six months ended June 30, 2024, Company delivered a total of 6,970 and 4,873 vehicles, respectively, consisting of lifestyle vehicles and Company-brand sports cars that were distributed through Subsidiary A. As of June 30, 2024, Company had 2,989 full-time employees globally, including in China and Europe, among which approximately 54.6% belong to the R&D division. The results of operations are affected by the following company-specific factors. The results of operations depend significantly on Company's ability to achieve vehicle delivery targets, which impacts vehicle sales revenue. It is critical for Company to successfully manage production ramp-up and quality control, in cooperation with Counterparty A, to deliver vehicles to customers in targeted volume and of high quality. Currently, Company works with a BEV manufacturing facility in Wuhan, China, which is owned and operated by Counterparty A. Subsidiary B has developed a Global Commercial Platform for the sales and distribution of its vehicles and sports cars. As of December 31, 2023, Subsidiary B had 215 stores in its global distribution network. Luxury Retailing Experience for Customers Aiming to provide a future-proof, luxurious customer experience, Company adopts a digital-first, omni-channel sales model for the Eletre, Emeya, and future battery electric vehicle (BEV) models to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company's global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom for the brand and its products, an inquiry, order, purchasing, and customization platform, and a reservation system for test drives, product delivery, and aftersales services, among others. Company also creates online forums in various geographic markets for customers to engage, search, communicate, and interact. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. Customers can also reserve test-driving sessions and have access to the digital payment system, aftersales services, and software updates. In October 2023, Company's wholly foreign-owned enterprise (WFOE) pledged the land use rights, buildings, and ancillary facilities on certain pieces of land totaling approximately 84,000 square meters where Company's global headquarters is located in Wuhan, China, to the Counterparty A pursuant to an exchangeable note agreement entered into between the WFOE and the Counterparty A in September 2021. Such pledge was terminated in April 2024 following the listing of Company's securities on Nasdaq pursuant to the terms of the pledge. [Table Level]
- Table Title: Breakdown of Revenues by Type
- Table Summary: The table provides a detailed breakdown of revenues by type for the years ended December 31, 2023, 2022, and 2021. It includes data on sales of goods and services revenues, expressed in thousands of US dollars and percentages of total revenues.
- Context: The table is part of a report discussing Company's diverse revenue streams, including sales of vehicles, parts, tools, and services such as automotive design and development.
- Special Notes: The numbers are presented in thousands, except for percentages.

[Row Level]
Row 1: For the year ended December 31, 2023, revenues from sales of goods amounted to US$660,158, representing 97.2% of the total revenue of US$679,008.

Row 2: For the year ended December 31, 2023, services revenues totaled US$18,850, which constituted 2.8% of the total revenue.

Row 3: For the year ended December 31, 2022, revenues from sales of goods were US$1,186, accounting for 12.4% of the year's total revenue of US$9,557.

Row 4: For the year ended December 31, 2022, services revenues were US$8,371, making up 87.6% of the total revenue.

Row 5: For the year ended December 31, 2021, sales of goods generated US$369, which was 10.0% of the total revenue of US$3,687.

Row 6: For the year ended December 31, 2021, services revenues reached US$3,318, comprising 90.0% of the total revenue. Company has operations across the UK, the EU, and China. The company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class research and development in next-generation automobility technologies such as electrification, digitalization, and more. For more information about Company, please visit www.group-Company.com. Aside from the EPA, Company has developed a leading Advanced Driver Assistance System (ADAS) with fully embedded Level 4-ready hardware capabilities enabled by the world’s first deployable LiDAR system and proprietary software system. Company's wholly-owned R&D facilities across Europe and China demonstrate a seamless collaboration among highly experienced and dedicated Company teams to support its world-class R&D capabilities. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for its customers. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for customers. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Accordingly, Company cannot guarantee their compliance with ethical business practices, such as environmental responsibilities, fair wage practices, and compliance with child labor laws, among others. A lack of demonstrated compliance could lead Company to seek alternative suppliers, which could increase costs and result in delayed delivery of its products, product shortages, or other disruptions of its operations. Violation of labor or other laws by Company's suppliers or the divergence of an independent supplier’s labor or other practices from those generally accepted as ethical in the markets in which Company operates could also attract negative publicity for Company and its brand. This could diminish the value of Company's brand image and reduce demand for its electric vehicles. If Company, or other manufacturers in the electric vehicle industry, encounter similar problems in the future, it could harm Company's brand image, business, prospects, results of operations, and financial condition. Company may not be able to expand its physical sales network cost-efficiently. Company's distribution model is different from the currently predominant distribution model for automakers, and its long-term viability is unproven. Company's distribution model is not common in the automotive industry today. Company is in the process of transforming from a British sports car company to a global pioneer of high-performance lifestyle electric vehicles and has set high quality and safety standards for and makes continuous improvements on its vehicles and technologies, including sensory hardware and ADAS software. Company also plans to monetize its R&D capabilities by licensing its intellectual properties to other luxury auto brands and providing ADAS software subscriptions to its customers. Continue to launch new models and upgrade existing models. The successful launches of new models are critical for Company to continue capturing market share in the luxury BEV market and strengthening its leadership position. Company plans to launch a well-balanced portfolio of new models with exceptional performance in the coming years to broaden its customer base, in particular high net worth individuals and the tech-savvy younger generations, and expand its product breadth. Company plans to launch two additional fully-electric vehicles over the next two years, including a D-segment SUV in 2025 and a BEV lifestyle sports car in 2026. Company also intends to upgrade its models to equip its vehicles with innovative technology and design. Focus on sustainability and lead in electrification. To help engage the next generation of Company colleagues, Company leverages its unique global appeal and stimulates the ambitions of the next generation, especially in the creative science, technology, engineering, art, and mathematics subjects. Company helps carry out educational outreach programs and works with communities outside the core business to provide support and stability within those environments. Company also adopts and aligns its strategy to external frameworks including the UN Global Compact, including commitments to transparent, responsible, and ethical business management. Company released its first annual ESG Report on October 25, 2023, which documented its ESG strategy and highlighted its 2022 ESG achievements as part of Company’s advancement into a fully electric, intelligent, and sustainable luxury mobility provider under the brand’s Vision80 strategy. The strategy focuses on six key fields: Nature Positive, Climate Neutrality, Sustainable Supply Chain, Inclusion and Equality, Community Commitment, and Transparent Governance. Company joined the United Nations Global Compact (UNGC) in May 2023 and has set targets aligned with the United Nations Sustainable Development Goals (SDGs) for each field, embedding actionable frameworks into its operations to achieve the global goals. Company plans to launch a well-balanced portfolio of new models with exceptional performance in the coming years to broaden its customer base, in particular high net worth individuals and the tech-savvy younger generations, and expand its product breadth. Company plans to introduce two new models in the near future. Company also intends to upgrade its models to equip its vehicles with innovative technology and design. Focus on sustainability and lead in electrification. As a leader in the electrification transformation of the luxury car segment, Company has launched its E-segment battery electric vehicle (BEV) model years ahead of its competitors and plans to continue launching its other BEV models. As part of its sustainability commitment, Company aims to achieve carbon neutrality by 2038. Company expects to continue focusing on sustainability leadership through waste reduction and the ongoing adoption of renewable energy and recyclable materials. In addition, Company launched the “Win26” plan, aiming to achieve positive EBITDA in 2026 by further optimizing its internal processes and structures, implementing overall cost measures, and recalibrating its product plans to cater to globally diversified markets. As of December 31, 2021, 2022, and 2023, Company had approximately 2,300, 2,913, and 3,180 full-time employees, respectively. The following table sets forth the numbers of Company's employees categorized by function as of December 31, 2023. [Table Level]  
- Table Title: Geographic Distribution of Revenues  
- Table Summary: The table presents the revenues generated by Company across different geographic regions for the years ended December 31, 2023, 2022, and 2021. It highlights the significant growth in revenues from various regions, particularly the Chinese mainland, with a detailed breakdown for each location over the years.  
- Special Notes: All revenue amounts are in thousands of US dollars.  

[Row Level]  
Row 1: "For the year ended December 31, 2023, the revenue from the Chinese mainland was $419,448, whereas in 2022 it was $8,816, and in 2021, $3,109."  
Row 2: "In the UK, the revenue recorded for 2023 was $83,827, compared to $437 in 2022 and $439 in 2021."  
Row 3: "Japan contributed $26,390 to the revenues in 2023, with no recorded revenue in 2022 or 2021."  
Row 4: "Australian revenue for 2023 was $20,335, with no revenue in the previous two years."  
Row 5: "Belgium generated $20,701 in revenue for 2023, with no revenue in 2022 and 2021."  
Row 6: "Revenues from France reached $16,341 in 2023, with no prior revenue in 2021 and 2022."  
Row 7: "In Italy, the revenue was $14,650 for 2023, with no records for 2022 and 2021."  
Row 8: "Germany contributed $15,904 to the 2023 revenue, with no amounts recorded for 2022 and 2021."  
Row 9: "Revenue from the Netherlands amounted to $13,729 in 2023, with no revenue for the other two years."  
Row 10: "Other regions generated $47,683 in revenue for 2023, compared to $304 in 2022 and $139 in 2021."  
Row 11: "The total revenues for Company reached $679,008 in 2023, significantly rising from $9,557 in 2022 and $3,687 in 2021." Company intends to continuously develop and enhance proprietary cutting-edge technologies, including its 800-volt EPA architecture and hardware, algorithm, and software systems to enhance the competitiveness of its vehicles, supported by continuous R&D investment. All of Company's proprietary technologies are built with the principle of “For the Drivers,” while inheriting its unique design language and philosophy. Company is in the process of transforming from a British sports car company to a global pioneer of high-performance lifestyle electric vehicles and has set high quality and safety standards for and makes continuous improvements on its vehicles and technologies, including its sensory hardware and ADAS software. Company also plans to monetize its R&D capabilities by licensing its intellectual properties to other luxury auto brands and providing ADAS software subscriptions to its customers. Continue to launch new models and upgrade existing models. The successful launches of new models are critical for Company to continue capturing market share in the luxury battery electric vehicle (BEV) market and strengthening its leadership position. Company is dedicated to offering its customers a convenient and efficient charging experience and provides multiple solutions including home charging, flash charging through its company-owned charging network, and on-the-go charging provided by its designated partners. In Europe, Company is partnering with a leading platform that provides customers with an extensive charging network covering the region. Company also offers home charging solutions for owners of its vehicles. In China, Company provides home charging solutions and partners with leading suppliers that have charging networks across the country. Partnering with local charging solutions developers, Company operates a company-owned charging network that provides 480 kW flash charging for its featured 800-volt EPA in core commercial areas of metropolises such as Beijing and Shanghai, among others. As of June 30, 2024, Company had launched 101 flash charging stations in China and partnered with public charging stations to bring convenience to the charging experience of its customers. In the U.S. and other global markets, Company plans to provide comprehensive charging solutions tailored for local market conditions and customer demands. Major vehicle models under the Distribution Agreement include Eletre, Emeya, and future BEV models, as well as certain sports car models that were or will be developed and manufactured by Subsidiary B, such as Evija (BEV sports car) and Emira (ICE sports car). Company's research and development efforts are focusing on the development of key electric vehicle technologies while benefiting from the technological support from the Counterparty A Holding ecosystem. Company intends to continually develop cutting-edge technologies, including the 800-volt EPA architecture and hardware, algorithms, and software systems to enhance the competitiveness of its vehicles. Company also plans to monetize its R&D capabilities by licensing its intellectual properties and software via subscriptions to other luxury automotive brands. Guided by Company's R&D leaders, the global research and development team has extensive experience in the automotive and technology industries. As of December 31, 2023, Company's R&D team consisted of 1,802 professionals with extensive knowledge in automotive engineering, software, and artificial intelligence, as well as diversified working experiences from leading vehicle manufacturers globally. Such composition ensures solid technology development capabilities, especially in intelligence and digitalization. The diversified cultural and professional background promotes the exchange of ideas from different perspectives and ensures the generation of innovations. [Table Level]  
- Table Title: Revenue by Service Line and Customer Type  
- Table Summary: The table presents revenue data for Company for the years ending December 31, 2023, 2022, and 2021. It categorizes revenue based on sales of goods and services to third parties and related parties, further breaking down sales into battery electric vehicle (BEV) lifestyle models, sports cars, and other categories.  
- Special Notes: All amounts are in thousands of US dollars.  

[Row Level]  
Row 1: In 2023, sales of BEV lifestyle models to third parties generated $464,172, with no revenue reported for 2022 or 2021.  

Row 2: For 2023, sports cars sold to third parties brought in $183,160, while $828 was reported for 2022 and $369 for 2021.  

Row 3: Sales categorized as "Others" to third parties amounted to $9,394 in 2023, $335 in 2022, and no revenue in 2021.  

Row 4: Total sales of goods to third parties were $656,726 in 2023, $1,163 in 2022, and $369 in 2021.  

Row 5: In 2023, sales of BEV lifestyle models to related parties amounted to $1,093, with no revenue recorded for the previous years.  

Row 6: Sports cars sold to related parties earned $951 in 2023, with no revenue for previous years.  

Row 7: Revenue from sales classified as "Others" to related parties was $1,388 in 2023, and $23 in 2022, with no revenue in 2021.  

Row 8: Total sales of goods to related parties were $3,432 in 2023, and $23 in 2022, with no revenue in 2021.  

Row 9: The subtotal for sales of goods combining third and related parties was $660,158 in 2023, $1,186 in 2022, and $369 in 2021.  

Row 10: Revenue from services to related parties was $12,573 in 2023, $8,344 in 2022, and $3,280 in 2021.  

Row 11: For 2023, services to third parties generated $6,277, with $27 in 2022 and $38 in 2021.  

Row 12: The subtotal for services combining related and third parties was $18,850 in 2023, $8,371 in 2022, and $3,318 in 2021.  

Row 13: Total revenues, combining all categories, were $679,008 in 2023, $9,557 in 2022, and $3,687 in 2021. Company has a dedicated global team to support its R&D activities with a sizable scale and comprehensive functionalities, covering all major technological perspectives. Company's approach to innovation demonstrates an interconnected global collaboration among highly experienced and dedicated teams in the U.K., Germany, and China, each with different technological focuses. Centered around Company's global headquarters in Wuhan, China, which focuses on cloud computing and online data processing, the company operates a software center in Shanghai focusing on global system integration and network security, and a research institute in Ningbo focusing on electric architecture, charging and power systems, and intelligent driving. Company has established two R&D centers on engineering and product design, including the Company Creative Centre (Subsidiary A) located in the heart of the British car industry in Coventry, U.K., with a focus on automotive design and design strategy, product and brand communication, and sustainable material science, and the Company Innovative Centre (Subsidiary B) located in Frankfurt, Germany, with a focus on behavioral science, innovative vehicle technologies, dynamic attribute development, user interface, and regional tuning and application. Company conducts its business worldwide. One of Company's key business strategies is to pursue international expansion of its operations and market its products in multiple jurisdictions. The global nature of Company's business could have a material adverse effect on its financial condition and results of operations. As a result, Company's operations are and the company expects that its operations will be subject to a variety of risks and challenges associated with doing business internationally and entering into new markets, including an increase in expenses and diversion of management’s attention from other aspects of the business. Accordingly, Company's business and financial results in the future could be adversely affected due to a variety of factors, including:  
● changes in, or impositions of, legislative or regulatory requirements on the automotive industry and supply chain management;  
● issues related to export or import restrictions, including deemed export restrictions, tariffs, quotas, and other trade barriers and restrictions, as well as overseas shipment schedules and customs clearance requirements and processes;  
● international economic and political conditions, and other political tensions between countries in which Company conducts business; Master Distribution Agreement with Subsidiary B Pursuant to the Distribution Agreement entered into by and between Subsidiary B, the entity carrying out Subsidiary B’s sportscar manufacturing operations, and Subsidiary A, Company is the exclusive global distributor (excluding the U.S., where Subsidiary A will act as the head distributor with the existing regional distributor continuing its functions) for Subsidiary B to distribute vehicles, parts, and certain tools, and to provide aftersales services, branding, marketing, and public relations for such vehicles, parts, and tools distributed by Subsidiary B. The Distribution Agreement also provides that each year Company and Subsidiary B will prepare business plans and annual targets taking into account historical sales figures, forecast demand, national, regional, and local trends, and Subsidiary B’s production capacity for the vehicles. Additionally, pursuant to the Distribution Agreement, existing stores and dealers of Subsidiary B are transferred to Company. [Table Level]  
- Table Title: Revenue Breakdown for Different Periods  
- Table Summary: The table provides a detailed breakdown of revenue sources for Company across different financial periods, including both sales of goods and service revenues. It shows the amount in US dollars and the percentage contributions for both the six months ended June 30 and the years ended December 31 from 2021 to 2024.  
- Context: The context discusses Company's operations as a global distributor for Company Cars and their sources of revenue, which include sales of automotive products and services. Their cost structure and revenue generation strategies are further elaborated upon, highlighting the importance of product distribution and service delivery.  
- Special Notes: The financial figures represented in the table are in thousands, except for percentages.  

[Row Level]  
Row 1: For the six months ended June 30, 2024, sales of goods amounted to $382,893, contributing 96.2% to total revenues. In contrast, in the same period for 2023, sales of goods were $124,854, making up 96.0% of the total revenues.  

Row 2: Service revenues for the six months ending June 30, 2024, were $15,222, accounting for 3.8% of total revenues. This compares to $5,181 in 2023, which represented 4.0% of total revenues.  

Row 3: The total revenues for the six months ended June 30, 2024, were $398,115, which was 100% of revenue composition, compared to $130,035 or 100% for the same period in 2023.  

Row 4: For the year ended December 31, 2023, sales of goods reached $660,158, which was 97.2% of the total revenues, while for 2022, these were $1,186, contributing 12.4%.  

Row 5: Service revenues for the year ended December 31, 2023, stood at $18,850, representing 2.8% of total revenue, and $8,371 in 2022, making up 87.6%.  

Row 6: The total revenues for the year ended December 31, 2023, were $679,008, making up 100% of revenues, whereas in 2022, the total was $9,557, also 100%.  

Row 7: In 2021, sales of goods were $369, equivalent to 10.0% of the total, while service revenues were $3,318, contributing 90.0%.  

Row 8: Total revenues for 2021 stood at $3,687, making up 100% of the total revenues. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing and customization platform, and a reservation system for test driving, product delivery, and aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company and Subsidiary B have entered into a master distribution agreement pursuant to which a subsidiary of Company will be appointed as the global distributor for Subsidiary B. Company's distribution model is not common in the automotive industry today. In particular, in China, Company's vehicles are sold either directly to users (rather than through dealerships) or through city partners that act as sales agents and collect sales commissions on such sales. Company plans to further expand its physical sales network through a balanced combination of company-operated stores and partner stores. This planned expansion may not have the desired effect of increasing sales and enhancing brand recognition in a cost-efficient manner. Company may need to invest significant capital and management resources to operate existing company-operated stores and open new ones, and there can be no assurance that Company will be able to improve the operational efficiency of its company-operated stores. Company's direct-to-consumer approach to vehicle distribution is relatively new, and its long-term effectiveness is unproven, especially in China. This approach subjects Company to substantial risks, as it requires significant expenditures and results in slower expansion of the distribution and sales systems compared to the traditional dealership system. For example, Company will not be able to utilize long-established sales channels developed through a dealership system to increase sales volume. [Table Level]
- Table Title: Regional Performance Overview for January to September 2024 and 2023
- Table Summary: This table provides a comparative analysis of performance across different regions for the periods of January to September in 2024 and 2023. It presents the number of units sold and revenue figures alongside the percentage contribution from each region for both years.
- Context: The table is part of a broader report detailing Company's market expansion and financial highlights for 2024, including new deliveries and technological advancements.
- Special Notes: The percentages indicate the share of each region in the total outcome for the respective years.

[Row Level]
Row 1: In Europe, January to September 2024 saw 2,683 units sold or revenue, making up 35% of the regional distribution, compared to 568 units in the same period of 2023, which constituted 18% of the regional share.

Row 2: China recorded 1,880 units sold or revenue in January to September 2024, equating to 25% of the regional total, whereas, in 2023, there were 1,993 units sold, accounting for 62%.

Row 3: North America reported 1,665 units sold or revenue for January to September 2024, contributing 22% to the region, with no corresponding data shown for 2023.

Row 4: The rest of the world achieved 1,389 units sold or revenue in January to September 2024, representing 18% of the region, while in 2023, there were 660 units sold, making up 20%.

Row 5: Total figures for January to September 2024 equaled 7,617 units sold or revenue across all regions, with the entire distribution being 100%, compared to 3,221 units sold in the same timeframe for 2023, also reflecting 100% distribution. What is the reason for the company's sales forecast adjustment? Based on Company's prudent assessment of the global macro market environment and the uncertainty of tariffs, Company has adjusted the delivery forecast for 2024 to 12,000 units. [Table Level]
- Table Title: Geographic Revenues for Company.
- Table Summary: The table presents the revenues of Company by geographic areas for the years ended December 31, 2023, 2022, and 2021. It shows the monetary contribution from various regions, highlighting significant sales in the Chinese mainland and the United Kingdom. The total revenues for each year are also provided.
- Context: The revenues shown are part of Company's financial performance. The table focuses on the geographic distribution of sales, correlating with the financial statement notes that discuss factors affecting financial operations and performance.
- Special Notes: All values are in thousands of US dollars, as indicated in the financial statement notes. The table's footnotes outline the items included in financial calculations and conditions affecting convertible notes and shares.

[Row Level]
Row 1: In 2023, the revenues from the Chinese mainland were US$419,448, a significant increase from US$8,816 in 2022, and US$3,109 in 2021.

Row 2: The United Kingdom contributed US$83,827 in 2023, up from US$437 in 2022, and US$439 in 2021.

Row 3: Revenue from Japan was US$26,390 in 2023, with no significant revenue reported in prior years.

Row 4: In 2023, Australia generated US$20,335 in revenues, marking this as a new revenue stream.

Row 5: Belgium's revenue in 2023 was US$20,701, with no recorded revenues in earlier years.

Row 6: France contributed US$16,341 in 2023, with no revenues noted in previous years.

Row 7: Italy had revenues of US$14,650 in 2023, with no previous data available.

Row 8: Germany reported US$15,904 in 2023, marking its first entry as a revenue source.

Row 9: The Netherlands had revenues of US$13,729 in 2023, also a new entry.

Row 10: Revenues classified as 'Others' totaled US$47,683 in 2023, increased from US$304 in 2022, and US$139 in 2021.

Row 11: Total revenues for Company were US$679,008 in 2023, sharply rising from US$9,557 in 2022, and US$3,687 in 2021. [Table Level]  
- Table Title: Employee Allocation by Function  
- Table Summary: The table shows the distribution of employees across different functions within Company as of June 30, 2024. It provides the number of employees and their corresponding percentage share for each function, including research and development, marketing and sales, supply chain, and functional support, alongside the total count.  
- Context: The surrounding text emphasizes competitive dynamics in the market and Company’s competitive edge, mentioning the importance of attracting and retaining qualified personnel to support its business strategy and development.  
- Special Notes: Percentages are expressed to one decimal place.  

[Row Level]  
Row 1: "For Research and Development, there are 1,631 employees, which account for 54.6% of the total workforce as of June 30, 2024."  
Row 2: "Marketing and Sales employs 755 individuals, representing 25.3% of Company's staff."  
Row 3: "The Supply Chain function consists of 204 employees, making up 6.8% of the total."  
Row 4: "Functional Support comprises 399 employees, equating to 13.3% of the workforce."  
Row 5: "Overall, Company's total employee count is 2,989, which is 100.0% of the workforce as of June 30, 2024." Company's global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom for the brand and its products, an inquiry, order, purchasing, and customization platform, and a reservation system for test drives, product delivery, aftersales services, among others. Company also creates online forums in various geographic markets for customers to engage, search, communicate, and interact. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. Customers can also reserve test-driving sessions and have access to the digital payment system, aftersales services, and software updates. Master Distribution Agreement with Subsidiary B Pursuant to the Distribution Agreement entered into by and between Subsidiary B, the entity carrying out Subsidiary B’s sportscar manufacturing operations, and Subsidiary A, Company is the exclusive global distributor (excluding the U.S., where Subsidiary A will act as the head distributor with the existing regional distributor continuing its functions) for Subsidiary B to distribute vehicles, parts, and certain tools, and to provide aftersales services, branding, marketing, and public relations for such vehicles, parts, and tools distributed by Subsidiary B. Moreover, Company will be competing with automakers that have well-established distribution channels, and it may not be able to satisfy customer expectations. Company also leverages its network of city partners as a pipeline of potential sales partners. However, Company may not be able to identify, attract, and retain a sufficient number of city partners with the requisite experience and resources to operate its partner stores. The city partners are responsible for the day-to-day operation of their stores. Although Company offers the same training and implements the same service standards for staff from both company-operated stores and partner stores, Company has limited control over how the city partners’ businesses are run. If the city partners fail to deliver high-quality customer service and resolve customer complaints in a timely manner, or if any of their misconduct damages Company's brand image and reputation, Company's business could be adversely affected. Furthermore, Company may experience disagreements or disputes in the course of its relationship with the city partners or upon termination of its relationships with city partners, which may lead to financial costs, disruptions, and reputational harm. For example, Company will not be able to utilize long-established sales channels developed through a dealership system to increase its sales volume. Moreover, Company will be competing with automakers that have well-established distribution channels, and it may not be able to satisfy customer expectations. Company also leverages its network of city partners as a pipeline of potential sales partners. However, Company may not be able to identify, attract, and retain a sufficient number of city partners with the requisite experience and resources to operate its partner stores. The city partners are responsible for the day-to-day operation of their stores. Although Company offers the same training and implements the same service standards for staff from both company-operated stores and partner stores, Company has limited control over how the city partners’ businesses are run. If the city partners fail to deliver high-quality customer service and resolve customer complaints in a timely manner, or if any of their misconduct damages Company's brand image and reputation, Company's business could be adversely affected. Company is dedicated to offering its customers a convenient and efficient charging experience and provides multiple solutions including home charging, flash charging through the company-owned charging network, and on-the-go charging provided by designated partners. In Europe, Company is partnering with a leading platform that provides customers with an extensive charging network covering the region. Company also offers home charging solutions for owners of its vehicles. In China, Company provides home charging solutions and partners with leading suppliers that have charging networks across the country. Partnering with local charging solutions developers, Company operates a company-owned charging network that provides 480 kW flash charging for its featured 800-volt EPA in core commercial areas of metropolises such as Beijing and Shanghai, among others. As of December 31, 2023, Company had launched 65 flash charging stations in China and partnered with public charging stations to bring convenience to the charging experience of its customers. In the U.S. and other global markets, Company plans to provide comprehensive charging solutions tailored for local market conditions and customer demands. Company brings customers a luxury retailing experience through a digital-first, omni-channel sales model to establish and develop direct relationships with customers, covering the entire spectrum of customer experience, both physically and virtually. Company operates premium stores in high-footfall locations, providing personalized and exclusive services to create a luxurious purchasing experience for customers. The global sales digital platform provides a full suite of luxury retailing experiences, including a virtual showroom of the Company brand and products, an inquiry, order, purchasing, and customization platform, and a reservation system for test driving, product delivery, aftersales services, among others. Customers are offered a wide range of options for customization, including exterior, interior, and other functions and features. In addition to the fully digitalized online retail model supported by the Company App, Company adopts a direct sales model and has established co-partnership programs with some of the leading automotive dealers across all regions to expand its presence rapidly in an asset-light manner. As part of the Company brand’s philosophy of “born British and raised globally,” Company has developed a global sales and distribution network. Company has established offices in various cities in China and Europe. As of December 31, 2023, Company had leased premises as summarized below and under operating lease agreements from independent third parties. Company believes that its existing facilities are generally adequate to meet its current needs, but expects to seek additional space as needed to accommodate future growth. [Table Level]
- Table Title: Summary of Leased Premises
- Table Summary: The table details the leased premises of Company across various cities in China and Europe as of December 31, 2023. It includes location details, approximate building sizes in square meters, primary uses of the buildings, and lease terms in years.
- Context: Company leases these premises through operating leases from independent third parties to support its operational needs. Some locations include offices, experience stores, and Company centers, with varying lease terms.
- Special Notes: Sizes are listed in square meters, and lease terms show ranges for certain locations.

[Row Level]
Row 1: In Shanghai, China, Company leases a building of approximately 26,745 square meters for office use, a Company center, and an experience store, with a lease term ranging from 1 to 10 years.

Row 2: The Wuhan, China premises are approximately 18,423 square meters, serving as an office, Company center, and experience store, with lease terms from 1 to over 10 years.

Row 3: In Ningbo, China, Company operates an office in a building roughly 9,389 square meters, with a lease lasting 5 years.

Row 4: The Hangzhou, China location, used as an office and VIP room, spans about 8,319 square meters, leased for 1 to 3 years.

Row 5: Beijing, China's premises cover 4,803 square meters, used as a Company center and experience store, with a lease term of 2.5 to 8.5 years.

Row 6: In London, U.K., the building is 2,197 square meters and used solely as an office, with lease terms ranging from less than 1 year to 10 years.

Row 7: The Coventry, U.K. location consists of 2,700 square meters for office use, leased for 5 years.

Row 8: Paris, France features a 2,596 square meters premises used as an experience store, Company center, and office, with a 6 to 10-year lease.

Row 9: In Amsterdam, Netherlands, the office spans approximately 2,795 square meters, with lease terms of 6.5 to 15 years.

Row 10: The Houten, Netherlands facility, totaling 802 square meters, is used as a Company center and office, leased for 5 to 10 years.

Row 11: Oslo, Norway's premises are 1,170 square meters used as an experience store and fulfillment center, with lease terms of 2 to 8 years.

Row 12: The Munich, Germany location is roughly 475 square meters for use as an office, experience store, and fulfillment center, leased for less than 1 year to 2 years.

Row 13: Frankfurt, Germany's premises, spanning 7,551 square meters, include an office and workshop, with lease terms ranging from 10 to 12 years.

Row 14: In Gothenburg, Sweden, Company has an office occupying 40 square meters with a lease of less than 1 year.

Row 15: Milan, Italy also features a 40 square meters office, with a lease term of less than 1 year. Company's ability to execute effective marketing and attract orders Company's results of operations depend significantly on the company's ability to execute effective marketing and attract orders from customers. Demand for Company's vehicles directly affects sales volume, which in turn contributes to revenue growth and the ability to achieve and maintain profitability. Vehicle orders may depend, in part, on whether prospective customers find it compelling to purchase Company's vehicles among competing vehicle models as their first, second, or replacement cars, which in turn depends on, among other factors, prospective customers’ perception of the Company brand. Company develops battery electric vehicles (BEVs) and technologies through cutting-edge design, research and development, and sustainable choices. Company has a dedicated global team across Europe and China to conduct its research and development activities, such as developing electric powertrain architecture (EPA), intelligent driving systems, aerodynamics, and cloud services, among others, supported by a strong portfolio of intellectual properties. As of June 30, 2024, Company had 1,631 research and development employees, which accounted for 54.6% of its total number of employees. Company has established offices in various cities in China and Europe. As of June 30, 2024, Company had leased premises as summarized below and under operating lease agreements from independent third parties. Company believes that its existing facilities are generally adequate to meet its current needs, but it expects to seek additional space as needed to accommodate future growth. Company's core values, which include developing high-quality electric vehicles while operating with integrity, are an important component of the company's brand image, making its reputation sensitive to allegations of unethical business practices. Company does not control its independent suppliers or their business practices. Accordingly, the company cannot guarantee these suppliers' compliance with ethical business practices, such as environmental responsibilities, fair wage practices, and compliance with child labor laws, among others. A lack of demonstrated compliance could lead Company to seek alternative suppliers, which could increase costs and result in delayed delivery of its products, product shortages, or other disruptions of its operations. Violation of labor or other laws by Company's suppliers or the divergence of an independent supplier’s labor or other practices from those generally accepted as ethical in the markets in which Company operates could also attract negative publicity for Company and its brand. This could diminish the value of Company's brand image and reduce demand for its electric vehicles. If Company, or other manufacturers in the industry, encounter similar problems in the future, it could harm Company's brand image, business, prospects, results of operations, and financial condition. ● changes in diplomatic and trade relationships, including political risk and customer perceptions based on such changes and risks; ● disruptions of capital and trading markets and currency fluctuations; ● management of tax consequences and compliance; ● increased costs due to imposition of climate change regulations, such as carbon taxes, fuel or energy taxes, and pollution limits; and   
● other challenges caused by distance, language, and cultural differences, making it harder for Company to do business in certain international jurisdictions. If Company's sales are delayed or cancelled because of any of the above factors, the company's revenue may be adversely affected. In addition, Company may be subject to increased regulatory risks and local competition in various jurisdictions where the company plans to expand operations but has limited operating experience. Such increased regulatory burdens and competition may limit the available market for Company's products and services and increase the costs associated with marketing the products and services where the company is able to offer its products. Guided by Company's R&D leaders, the global research and development team has extensive experience in the automotive and technology industries. As of June 30, 2024, Company's R&D team consisted of 1,631 professionals with extensive knowledge in automotive engineering, software, and artificial intelligence, as well as diversified working experiences from leading vehicle manufacturers globally. Such composition ensures solid technology development capabilities, especially in intelligence and digitalization. The diversified cultural and professional background promotes the exchange of ideas from different perspectives and ensures the generation of innovations. Company established Subsidiary A in China, the arm of its in-house intelligent driving competence. Subsidiary A is committed to developing advanced intelligent driving technologies to foster global industry growth. Subsidiary A has established itself as a global premier provider of comprehensive intelligent driving solutions, including advanced intelligent driving platform software, cloud toolchains, integrated hardware and software development, and intelligent driving operation solutions. Starting from 2024, Subsidiary A has been providing end-to-end intelligent driving solutions to several leading automakers, including Counterparty A and Counterparty B. [Table Level]
- Table Title: Inventory Details
- Table Summary: The table presents a breakdown of inventories for Company as of December 31 for the years 2023 and 2022. It categorizes inventories into products available for sale and goods in transit, providing a total for each year.
- Context: Prior to the table, there is an explanation of the impact of ASU 2023-09 on income tax disclosures and a discussion about Company's receivables and inventories. Following the table, there is information about inventory write-downs recognized in cost of revenues over the past three years.
- Special Notes: All amounts are in thousands of US dollars.

[Row Level]
- Row 1: As of December 31, 2023, products available for sale were valued at $246,419, compared to $13,714 as of December 31, 2022.
- Row 2: Goods in transit amounted to $18,771 as of December 31, 2023, whereas the value was $8,989 as of December 31, 2022.
- Row 3: The total inventory was $265,190 as of December 31, 2023, in contrast to $22,703 as of December 31, 2022. The vehicle delivery numbers presented above are derived from reports submitted by Company's business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems announced or to be announced by the company. [Table Level]
- Table Title: Employee Distribution by Function as of December 31, 2023
- Table Summary: The table presents the number and percentage of employees within various functional areas of Company as of December 31, 2023. It details how the total workforce is allocated across different functions such as Research and Development, Marketing and Sales, Supply Chain, and Functional Support.
- Context: Company has developed a competitive edge through advanced technologies and a scalable business model, with a focus on research and development. Company has grown its workforce from approximately 2,300 employees in 2021 to 3,180 in 2023.
- Special Notes: Numbers are presented alongside their corresponding percentages to demonstrate the distribution of employees across functions. The sum of percentages totals 100%, representing the complete workforce.

[Row Level]
Row 1: "As of December 31, 2023, the Research and Development function employed 1,802 individuals, comprising 56.7% of the total workforce."
Row 2: "The Marketing and Sales function had 690 employees, accounting for 21.7% of the total workforce as of December 31, 2023."
Row 3: "The Supply Chain function included 239 employees, which represented 7.5% of the total workforce as of December 31, 2023."
Row 4: "Functional Support had 449 employees, making up 14.1% of the workforce as of December 31, 2023."
Row 5: "The total number of employees was 3,180, with this figure encompassing 100% of Company’s workforce as of December 31, 2023." Company believes it benefits from a number of competitive advantages: Early mover in the luxury BEV market. Company is well positioned to capitalize on the rapid growth of the global luxury BEV market and address unmet demand by offering a portfolio of BEV models. Company operates at the “sweet-spot” within the luxury BEV segment by providing vehicles with a target price range between US$80,000 to US$149,000, which represents the largest volume contributor to the luxury BEV segment. Additionally, the global luxury BEV market is underserved due to limited availability of models. As an early mover in the luxury BEV market, Company has launched its E-segment BEV model years ahead of competitors and expects to continue launching its BEV models, anticipating significant early mover advantages in terms of electrification progress compared to other brands. Iconic brand with racing heritage. The core principles and Company's DNA at the heart of the company come from more than 70 years of sports car design and engineering. The concepts of aerodynamics and lightweight sports car design are highly distinguished and have been an essential part of the Company brand’s ethos. Invest in brand equity and fully transform the brand. Leveraging Company's brand racing heritage and proven leadership, Company intends to further elevate the brand by continuing to deliver a portfolio of intelligent and high-performance vehicles that satisfy customers’ expectations and broaden the customer base, in particular high net worth individuals and tech-savvy younger generations who value the brand’s DNA. Scale up and expand geographical presence. Company intends to deepen its penetration across all regions. The Company brand is closely associated with “customer engagement” and “community building,” and in order to provide customers with a luxurious experience, Company has adopted a direct-to-consumer sales and distribution strategy that focuses on establishing and developing direct relationships with customers, especially in selected regions including China, Europe, and the U.S., which represent some of the key areas driving fast growth in the global BEV markets. By offering a luxurious purchasing experience and superior customer service, Company expects to further deepen its penetration in the global market. Develop next-generation electric vehicle technologies while monetizing Company's R&D prowess. New York – November 12, 2024 – Company. (“Company” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its vehicle delivery results for the first ten months of 2024. Company. continues to achieve top-rate growth among traditional luxury car brands, delivering 8,631 vehicles in the first ten months of 2024. Europe and China continued to be the major markets for Company, with each region contributing about 35% and 25% of the total deliveries, respectively. In October, Company. started an open beta test for its urban NOA (Navigate on Autopilot) in key cities. Certain over-the-air updates of intelligent driving, including highway assistant driving functions, were launched in Europe. As previously announced, Subsidiary A, Company's intelligent driving arm, provides intelligent driving solutions with global coverage to both Company-brand intelligent vehicles and other global leading auto conglomerates such as Counterparty A, Counterparty B, and a top Japanese Tier-one supplier. In October, Company. was awarded the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category as the only awardee from the automotive industry. Note 1: Invoiced deliveries, including commissioned deliveries in the US market. ● burdens of conforming Company's vehicles to various international regulatory requirements where the vehicles are sold, and unexpected changes in such regulatory requirements and enforcement, in connection with type approval, safety, data protection and privacy, automated driving, environmental protection, recall, distribution, government incentives, battery regulations, and end-of-life regulations, among others. See “Government Regulations   —   Global Government Regulations;”   
● complexities and difficulties in obtaining intellectual property protection and reduced protection for intellectual property rights in some countries;  
● difficulties in staffing and managing global operations and the increased travel, infrastructure, and legal compliance costs associated with multiple international locations and subsidiaries;  
● conforming to foreign labor laws, regulations, and restrictions;  
● local business and cultural factors that differ from Company's normal standards and practices, including business practices that Company is prohibited from engaging in by the Foreign Corrupt Practices Act and other anticorruption laws and regulations;  
● establishing localized supply chains and managing international supply chain and logistics costs;  
● establishing sufficient charging points for customers in those jurisdictions, via partnerships or, if necessary, via development of Company's own charging networks;  
● difficulties attracting customers in new jurisdictions;  
● higher levels of credit risk and payment fraud; [Table Level]  
- Table Title: Geographic Revenue Distribution  
- Table Summary: The table presents the revenues of Company from various geographic locations for the six-month periods ending June 30, 2024, and 2023. It highlights the revenue distribution across different countries and regions, showing significant increases in certain areas over the previous year.  
- Context: The table is part of Company's unaudited condensed consolidated financial statements and provides a breakdown of revenues by geographic area, detailing how customer locations contribute to sales figures.  
- Special Notes: All figures are represented in thousands of US dollars (US$). There are disclaimers regarding the calculation of loss per share which is related to put options.  

[Row Level]  
Row 1: For the six months ended June 30, 2024, the revenue from the Chinese mainland was US$138,210, a significant increase from US$93,013 in 2023.  
Row 2: The United Kingdom contributed US$69,728 in 2024, showing a marked increase compared to US$7,396 in 2023.  
Row 3: Thailand generated US$24,594 in revenue for 2024, up from US$248 in 2023, reflecting substantial growth.  
Row 4: In 2024, Malaysia's revenue was US$23,652, a rise from US$1,040 reported in 2023.  
Row 5: Revenue from Belgium was US$21,155 in 2024, with no corresponding figure reported for 2023.  
Row 6: Italy contributed US$17,522 in 2024, while there was no reported revenue for 2023.  
Row 7: Japanese revenue reached US$16,943 in 2024, slightly up from US$16,217 in 2023.  
Row 8: Revenue from Germany was US$14,951 in 2024, with no prior year data available.  
Row 9: The Netherlands showed US$11,145 in revenue for 2024, not reported in 2023.  
Row 10: France generated US$10,553 in 2024, without a reported figure for 2023.  
Row 11: Other regions collectively contributed US$49,662 in revenue in 2024, compared to US$12,121 in 2023.  
Row 12: The total revenue for the six months ending June 30, 2024, was US$398,115, a substantial increase from US$130,035 in 2023.