Chijet Motor (CJET) 20-F 30 Apr 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41712
Entity Registrant Name	Chijet Motor Company, Inc.
Entity Central Index Key	0001957413
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	No. 8, Beijing South Road
Entity Address, Address Line Two	Economic & Technological Development Zone
Entity Address, City or Town	Yantai
Entity Address, Country	CN
Entity Address, Postal Zip Code	264006
Title of 12(b) Security	Ordinary shares, par value $0.0001 per share
Trading Symbol	CJET
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	160,707,171
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	6783
Auditor Name	Assentsure PAC
Auditor Location	Singapore
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	No. 8, Beijing South Road
Entity Address, Address Line Two	Economic & Technological Development Zone
Entity Address, City or Town	Yantai
Entity Address, Country	CN
Entity Address, Postal Zip Code	264006
City Area Code	+86-0535
Local Phone Number	2766221
Contact Personnel Name	Hongwei Mu

Consolidated Balance Sheets

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands		Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Current assets
Cash and cash equivalents		$ 10,731	$ 37,918
Restricted cash		1,378	12,105
Inventory, net		14,785	23,918
Total current assets		90,828	160,627
Property, plant and equipment, net	[1]	181,377	217,902
Intangible assets, net		127,411	131,206
Land use rights, net		126,149	134,341
Long-term investments		3,699	4,370
Goodwill		2,695	2,774
Other assets		4,292	2,392
Total assets		536,451	653,612
Current liabilities
Loans attributable to related parties		232,867	193,189
Long-term payables, current		97,832	100,697
Promissory note payable		1,408	2,830
Total current liabilities		525,054	493,140
Accrued post-employment and termination benefits		43,541	51,575
Other liabilities		6,185	6,859
Total liabilities		615,325	637,484
Commitments and contingencies
Shareholders’ (Deficit) Equity
Ordinary shares (US$0.0001 par value; 500,000,000 shares authorized, 160,707,171 and 152,130,300 shares issued, 160,659,630 and 152,130,300 shares outstanding as of December 31, 2023 and December 31, 2022, respectively)	[2]	16	15
Treasury Stock (47,541 and nil ordinary shares as of December 31, 2023 and December 31, 2022, respectively)		(500)
Additional paid-in capital		169,129	163,738
Statutory reserve		6,656	6,656
Accumulated deficit		(314,235)	(246,051)
Accumulated other comprehensive loss		6,100	7,063
Chijet Motor Company, Inc. shareholders’ (deficit) equity		(132,834)	(68,579)
Non-controlling interest		53,960	84,707
Total shareholders’ (deficit) equity		(78,874)	16,128
Total liabilities and shareholders’ (deficit) equity		536,451	653,612
Nonrelated Party [Member]
Current assets
Accounts and notes receivable, net		2,241	233
Other current assets		9,951	22,905
Current liabilities
Accounts and notes payable		14,824	28,784
Contract liabilities		2,525	2,742
Accruals and other current liabilities		47,428	45,574
Related Party [Member]
Current assets
Accounts and notes receivable, net		208	870
Amounts due from related parties		48,748	60,019
Other current assets		2,786	2,659
Current liabilities
Accounts and notes payable		47,192	52,889
Contract liabilities		2,483	912
Accruals and other current liabilities		78,495	65,523
Loans attributable to related parties, non-current		$ 40,545	$ 85,910
[1]The carrying amounts of buildings, mold and tooling, machine and equipment and other logistic equipment pledged by the FAW Jilin to secure the borrowings as of December 31, 2023 and December 31, 2022 were US$ 58,584 76,536

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	160,707,171	152,130,300
Common stock, shares outstanding	160,659,630	152,130,300
Treasury stock, common shares	47,541

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Total revenues		$ 9,483	$ 14,961	$ 22,303
Cost of revenues		(15,295)	(19,285)	(56,210)
Cost of revenues - idle capacity		(26,951)	(34,001)	(23,342)
Gross loss		(32,763)	(38,325)	(57,249)
Operating expenses:
Research and development		8,398	13,772	15,420
Selling, general and administrative		47,281	65,324	50,441
Impairment charge		283	842	6,054
Total operating expenses		55,962	79,938	71,915
Loss from operations		(88,725)	(118,263)	(129,164)
Other (expenses) income:
Other income		1,360	1,243	1,540
Interest income		681	840	1,884
Interest expense		(14,819)	(14,724)	(16,096)
Government grant		3,748	19,467	80,995
(Loss) gain on equity investment		(519)	6	131
Other expenses		(227)	(87)	(1,842)
Total other (expenses) income, net		(9,776)	6,745	66,612
Loss before income taxes		(98,501)	(111,518)	(62,552)
Provision for income tax
Net loss		(98,501)	(111,518)	(62,552)
Net loss attributed to non-controlling interest		(30,390)	(34,262)	(32,642)
Net loss attributed to ordinary shareholders of Chijet Motor Company, Inc.		$ (68,111)	$ (77,256)	$ (29,910)
Basic net loss per share attributable to ordinary shareholders	[1],[2]	$ (0.43)	$ (0.51)	$ (0.20)
Diluted net loss per share attributable to ordinary shareholders	[1],[2]	$ (0.43)	$ (0.51)	$ (0.20)
Basic weighted average ordinary shares	[1],[2]	158,436,534	152,130,300	152,130,300
Diluted weighted average ordinary shares	[1],[2]	158,436,534	152,130,300	152,130,300
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Total revenues		$ 7,080	$ 8,053	$ 7,020
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Total revenues		2,403	6,908	15,283
Other (expenses) income:
Interest expense		$ (14,781)	$ (14,724)	$ (16,096)
[1]Par value of ordinary shares, additional paid-in capital and share data have been retrospectively restated to give effect to the reverse recapitalization that is discussed in Note 1(b).[2]Shares issuable upon exercising of warrants were excluded in calculating diluted loss per share.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net loss	$ (98,501)	$ (111,518)	$ (62,552)
Other comprehensive income, net of tax
Changes in post-employment and termination benefits	(1,216)	(567)	(888)
Foreign currency adjustments	(104)	(6,722)	3,811
Comprehensive loss	(99,821)	(118,807)	(59,629)
Comprehensive loss attributed to non-controlling interest	(30,747)	(35,601)	(32,017)
Comprehensive loss attributable to ordinary shareholders of Chijet Motor Company, Inc.	$ (69,074)	$ (83,206)	$ (27,612)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Deficit) - USD ($) $ in Thousands		Common Stock [Member]		Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	[1]	Statutory Reserve [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2020		$ 15	[1]		$ 140,838		$ 1,688	$ (133,917)	$ 10,715	$ 152,325	$ 171,664
Beginning balance, shares at Dec. 31, 2020		152,130,300	[1]
Foreign currency translation adjustment			[1]						2,831	980	3,811
Changes in post-employment and termination benefits			[1]						(533)	(355)	(888)
Appropriations to statutory reserve			[1]				4,968	(4,968)
Net loss			[1]					(29,910)		(32,642)	(62,552)
Ending balance, value at Dec. 31, 2021		$ 15	[1]		140,838		6,656	(168,795)	13,013	120,308	112,035
Ending balance, shares at Dec. 31, 2021		152,130,300	[1]
Foreign currency translation adjustment			[1]						(5,610)	(1,112)	(6,722)
Changes in post-employment and termination benefits			[1]						(340)	(227)	(567)
Net loss			[1]					(77,256)		(34,262)	(111,518)
Issuance of warrants			[1]		22,900						22,900
Ending balance, value at Dec. 31, 2022		$ 15	[1]		163,738		6,656	(246,051)	7,063	84,707	16,128
Ending balance, shares at Dec. 31, 2022		152,130,300	[1]
Foreign currency translation adjustment			[1]						(233)	129	(104)
Changes in post-employment and termination benefits			[1]						(730)	(486)	(1,216)
Net loss			[1]					(68,111)		(30,390)	(98,501)
Impact from adoption of ASU 2016-13			[1]					(73)			(73)
Effect of reverse recapitalization, net of costs		$ 1	[1]		70						71
Effect of reverse recapitalization net of costs, shares	[1]	5,703,246
Conversion of rights to ordinary shares upon the reverse recapitalization			[1],[2]
Conversion of rights to ordinary shares upon the reverse recapitalization, shares	[1]	1,803,625
Treasury Stock purchase			[1]	$ (500)							(500)
Treasury Stock purchase, shares				(47,541)
Shares issued to JWAC officers and directors	[3]		[1],[2]		3,021						3,021
Shares issued to JWAC officers and directors, shares	[1]	300,000
Shares issued to Greentree	[4]		[1],[2]		1,000						1,000
Shares issued to Greentree, shares	[1]	200,000
Shares issued to Chijet Motor directors	[5]		[1],[2]		200						200
Shares issued to Chijet Motor directors, shares	[1]	20,000
Exercise of warrants			[1],[2]		1,100						1,100
Exercise of warrants, shares	[1]	550,000
Ending balance, value at Dec. 31, 2023		$ 16	[1]	$ (500)	$ 169,129		$ 6,656	$ (314,235)	$ 6,100	$ 53,960	$ (78,874)
Ending balance, shares at Dec. 31, 2023		160,707,171	[1]	(47,541)
[1]Par value of ordinary shares, additional paid-in capital and share data have been retrospectively restated to give effect to the reverse recapitalization that is discussed in Note 1(b).[2]Less than $1000.[3]Issuance of 300,000 200,000 1,000,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Deficit) (Parenthetical)	12 Months Ended
	Dec. 31, 2023 USD ($) shares
Accrued expenses | $	$ 1,000,000	[1]
Greentree Financia Group Inc. [Member]
Issuance of common share acquired	200,000
Greentree Financia Group Inc. [Member] | Greentree [Member]
Accrued expenses | $	$ 1,000,000
Common Stock [Member]
Issuance shares of common stock to directors and officers	300,000	[2]
Issuance of common share acquired	200,000	[2]
Accrued expenses | $		[1],[2],[3]
Common Stock [Member] | Jupiter Wellness Acquisition Corp [Member]
Issuance shares of common stock to directors and officers	300,000
[1]Issuance of 200,000 1,000,000

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (98,501)	$ (111,518)	$ (62,552)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization expense	34,620	44,653	54,313
Share-based compensation expenses	3,171
Impairment of property, plant and equipment	283	842	6,054
Impairment of inventory	4,510	4,450	20,328
Bad debt expense	259	235	94
Warrant expense		22,900
Government grant	(3,748)	(19,467)	(80,995)
Gain on disposal of property, plant and equipment	(287)	(13)	(11)
Loss (gain) on equity investment	519	(6)	(131)
Changes in operating assets and liabilities:
Inventory	3,973	490	(25,080)
Amounts due from related party	11,271	10,594	66,867
Other assets	(1,900)	52,007	(7,010)
Accrued post-employment and termination benefits	(9,249)	(8,106)	(7,843)
Other liabilities	4,605	20,992	23,622
Net cash (used in) provided by operating activities	(40,017)	22,383	(22,374)
Cash flows from investing activities:
Purchase of fixed assets	(5,340)	(11,838)	(951)
Proceed from disposition of fixed assets	1,514	74
Proceeds from disposal of land use rights	1,184
Issuance of Promissory Notes receivable	(1,180)	(1,380)
Purchase of intangible assets		(101)	(120)
Proceeds from Promissory Notes receivable	2,060
Net cash used in investing activities	(1,762)	(13,245)	(1,071)
Cash flows from financing activities:
Proceeds from short-term borrowings	920		1,258
Proceeds from short-term borrowings-related parties	4,840
Proceeds from exercise of warrants	1,100
Repayments of short-term borrowings	(2,329)		(1,258)
Repayments of short-term borrowings-related parties	(2,604)
Cash acquired in the reverse recapitalization	4,490
Payments for reverse recapitalization and ordinary shares issuance costs	(1,192)
Proceeds from Promissory Notes Payable		1,380
Repayments of long-term payable			(44,611)
Net cash provided (used in) by financing activities	5,225	1,380	(44,611)
Net change in cash, cash equivalents, and restricted cash	(36,554)	10,518	(68,056)
Effects of currency translation on cash, cash equivalents, and restricted cash	(1,360)	(3,635)	2,003
Cash, cash equivalents, and restricted cash, beginning of period	50,023	43,140	109,193
Cash, cash equivalents, and restricted cash, end of period	12,109	50,023	43,140
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	236		258
Non-cash investing and financing activities:
Warrant issued for services		22,900
Initial measurement of right-of-use asset		354
Initial measurement of right-of-use liabilities		1,829
Unpaid deferred offering cost related with reverse recapitalization	379
Deferred offering cost settled with ordinary shares	1,000
Deferred offering costs reclassified to additional paid-in capital	4,500
Repurchase of treasury stock	500
Nonrelated Party [Member]
Changes in operating assets and liabilities:
Accounts and notes receivable	(2,008)	(228)	528
Other current assets	8,927	6,927	(10,390)
Accounts and notes payable	(7,440)	(7,720)	(23,168)
Accrual and other current liabilities	1,427	472	(17,836)
Contract liabilities	170	(2,159)	497
Related Party [Member]
Changes in operating assets and liabilities:
Accounts and notes receivable	662	(506)	3,689
Other current assets	(127)	(1,180)	(1,616)
Accounts and notes payable	(5,697)	(4,014)	(16,744)
Accrual and other current liabilities	12,972	13,622	55,010
Contract liabilities	$ 1,571	$ (884)

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	1. ORGANIZATION (a) Principal activities Chijet Motor Company, Inc. (“Chijet Motor”) was incorporated on June 22, 2022 as a Cayman Islands exempted company. Chijet Motor, collectively with its subsidiaries (“the Company”, “Chijet”, “we”, “us” or “our”) a high-tech enterprise, engaged in the development, manufacture, sales, and service of new energy vehicles (“NEV”) and traditional fuel vehicles in China. The main operating entities of the Company include Shandong Baoya New Energy Vehicle Co., Ltd. (“Shandong Baoya”) and its majority-owned holding subsidiary, FAW Jilin Automobile Co., Ltd. (“FAW Jilin”). The Company combines the innovative vitality of new car-making design and engineering forces with mature scale vehicle production capacity, and is committed to building Chijet into a scenario-driven, technology-led and, experience-based, new energy vehicle enterprise with global market operation capability. (b) Reverse Recapitalization On June 1, 2023 (the “Closing Date”), the Company consummated the business combination described further below. A Business Combination Agreement (“BCA”) dated as of October 25, 2022, was entered into by and among Jupiter Wellness Acquisition Corp. (“JWAC”), a special purpose acquisition company, Chijet Inc., incorporated under the Combination laws of the Cayman Islands on July 2, 2021, Chijet Motor, a wholly-owned subsidiary of Chijet Inc., and Chijet Motor (USA) Company, Inc. (“Merger Sub”), a Delaware corporation and a wholly-owned subsidiary of Chijet Motor, and each of the holders of Chijet Inc.’s outstanding ordinary shares (collectively, the “Sellers”). Pursuant to the BCA, the business combination was affected through the merger of the Merger Sub with and into JWAC, with JWAC as the surviving entity and wholly-owned subsidiary of Chijet Motor. On the Closing Date, Chijet Motor acquired all of the issued and outstanding capital shares of Chijet Inc. held by the Sellers in exchange for ordinary shares of Chijet Motor, and any shares Chijet Inc. held in Chijet Motor were surrendered for no consideration, such that Chijet Inc. becomes a wholly-owned subsidiary of Chijet Motor and the Sellers became shareholders of Chijet Motor and its subsidiaries (“Share Exchange”). On the Closing Date, the Sellers holding 266,102,827 152,130,300 0.5717 1.6 10.517 674 Following completion of the transactions contemplated by the BCA, there were an aggregate of 160,359,630 1,300,705 3,450,000 1,725,000 1,503,625 (i) privately placed JWAC Common Stock holders of 493,000 shares, (ii) holders with JWAC’s privately placed right to receive (1/8) of ordinary shares, equivalent of 61,625 shares, (iii) I-banker privately placed 136,000 shares, (iv) I-banker with privately place right to receive (1/8) of ordinary shares, equivalent of 17,000 shares, (v) I-banker representative shares of 276,000, (vi) JWAC officers and directors of 300,000 shares, (vii) Chijet independent directors compensation of 20,000 shares, (viii) Greentree Financial Group Inc. (“Greentree”) of 200,000 shares due to the conversion of Shandong Baoya’s accrued expenses of $1,000,000 pursuant to the financial consulting agreements with Greentree, and 250,000 shares issued for exercise of Greentree’s warrants. After giving the aforementioned effect, the number of ordinary shares issued and outstanding immediately following the consummation of the Business Combination was as follows: SCHEDULE OF BUSINESS COMBINATION Shares Legacy Chijet Shares 152,130,300 JWAC’s public shares, net of redemption 1,300,705 JWAC public shares converted from (1/8) JWAC rights at closing 1,725,000 JWAC sponsor shares 3,450,000 Shares issued to private placed shareholders and rights, and share-based compensation 1,503,625 Exercise of Greentree warrants 250,000 Total shares of ordinary shares outstanding immediately after the Business Combination 160,359,630 The Business Combination was accounted for as a “reverse recapitalization” in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Under this method of accounting, although JWAC is the public entity as the legal acquirer, it was treated as the “accounting acquiree”. And Chijet Motor as the legal acquiree, was treated as the acquirer for financial reporting purposes. This determination was primarily based on the following factors: (i) Chijet Motor’s shareholders have a majority of the voting power of the Company after the consummation of the Business Combination; (ii) Chijet Motor and its subsidiaries represent the ongoing operations and a majority of the governing body of the Company, and (iii) Chijet Motor’s senior management is comprised of the senior management of the Company. Accordingly, for accounting purposes, the business combination was treated as the equivalent of Chijet Motor issuing stock for the net assets of JWAC, accompanied by a recapitalization. The net assets of JWAC were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination were those of Chijet Motor and its subsidiaries. Accordingly, the consolidated assets, liabilities and results of operations prior to the reverse recapitalization were those of Chijet Motor and its subsidiaries, and JWAC’s assets, liabilities and results of operations were consolidated with the Company beginning on June 1, 2023. Share data have been retroactively restated by the Exchange Ratio to give effect to the reverse recapitalization. Upon the consummation of the reverse recapitalization, the assets and liabilities of JWAC were recognized at fair value. The fair value of cash and short-term liabilities acquired approximates their historical costs attributable to their short maturity. After the redemption of common stocks of JWAC before the closing of the business combination, the net assets acquired by the Company were in the amount of US$ 4,490 SCHEDULE OF CONSUMMATION OF REVERSE RECAPITALIZATION June 1, 2023 US$’000 Cash $ 13,680 Including repayment of extension note to Chijet Inc. (2,060 ) Accrued expenses (7,129 ) Bank charges (1 ) Net assets acquired by Chijet Motor as of June 1, 2023 $ 4,490 During the year ended December 31, 2023, the Company incurred approximately US$ 1.5 1.5 3.0 (c) History of the Company and Reorganization Prior to the incorporation of the Company and starting in April 2009, the business was carried out under Shandong Baoya and its subsidiaries. Shandong Baoya and its subsidiaries were controlled by a group of shareholders, individual and institutional, with voting agreements to vote consensually concerning operation and development matters. Prior to the business combination, Chijet Inc. completed a reorganization (the “Reorganization”) by June 2022, which involved the following steps: ● On July 6, 2021, Chijet Inc. was established under the laws of the Cayman Islands. ● On July 12, 2021, Baoya Technology Holdings Limited was incorporated in British Virgin Islands (“BVI”) as a wholly owned subsidiary of Chijet Inc. ● On July 28, 2021, Baoyaev Group Limited was incorporated in Hong Kong as a wholly owned subsidiary of Baoya Technology Holdings Limited. ● On October 21, 2021, Baoya New Energy (Shandong) Co., Ltd. (“WFOE”) was established in the People’s Republic of China (“PRC”) as a wholly owned subsidiary of Baoyaev Group Limited. By June 3, 2022, Chijet Inc. gradually acquired 85.172 (1) WFOE acquired 17.245% stake in Shandong Baoya from two shareholders through 53,879,310 As of December 31, 2023, subsidiaries of Chijet Motor include the following: SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES Date of incorporation Place of incorporation Percentage of ownership Principal activities Subsidiaries Baoya New Energy (Shandong) Co., Ltd October 21, 2021 The PRC 100.00 % Investment holding Baoya New Energy Automobile Sale (Yantai) Co., Ltd. November 29, 2019 The PRC 93.92 % New energy vehicle sales Baoya New Energy Automobile R&D (Xiangyang) Co., Ltd. May 25, 2022 The PRC 85.17 % Research and development of new energy vehicles Baoya New Energy Automobile R&D Institution (Yantai) Co., Ltd. November 29, 2019 The PRC 85.17 % Research and development of new energy vehicles Baoya Technology Holdings Limited July 12, 2021 BVI 100.00 % Investment holding Baoyaev Group Limited July 28, 2021 Hong Kong 100.00 % Investment holding Bijie Yabei New Energy Automobile Co., Ltd. May 22, 2014 The PRC 85.17 % New energy vehicle manufacturing Chijet, Inc. July 6, 2021 Cayman Islands 100.00 % Investment holding Dezhou Yarui New Energy Automobile Co., Ltd. February 1, 2016 The PRC 65.23 % R&D and manufacturing of new energy vehicles Dezhou Yitu New Energy Automobile Co., Ltd. April 23, 2011 The PRC 86.43 % R&D and manufacturing of special electric vehicles Faw Jilin Automobile Co., Ltd. June 20, 1984 The PRC 60.05 % Commercial vehicles, passenger vehicles manufacturing Faw Jilin Automobile Sale Co., Ltd. June 23, 2021 The PRC 60.05 % Vehicle sales Jupiter Wellness Acquisition Corp. September 14, 2021 Delaware, US 100.00 % Investment holding Jixiang Automobile Service (Yantai) Co., Ltd. April 10, 2020 The PRC 85.17 % Sales and leasing of new energy vehicles Shandong Baoya New Energy Vehicle Co., Ltd April 14, 2009 The PRC 85.17 % New energy vehicle production and manufacturing Xiangyang Yazhi New Energy Automobile Co., Ltd. May 16, 2016 The PRC 85.17 % R&D and manufacturing of small new energy vehicles Xiangyang Yazhi New Energy Automobile Sale Co., Ltd. July 22, 2016 The PRC 85.17 % Sales of small new energy vehicles (d) Liquidity and going concern The Company’s consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company incurred net losses of US$ 98,501 111,518 62,552 434,226 40,017 The Company is evaluating strategies to continue as a going concern including a) developing and continuously promoting a systematic financing plan including third-party financing and capital issuance, and existing loans restructuring to meet the Company’s future liquidity needs; b) increasing market acceptance of the Company’s products to boost its sales volume to achieve economies of scale applying more effective marketing strategies including developing overseas markets, and cost control measures, in order to better manage operating cash flow position. However, given the uncertainty of global economies and financing markets, the Company may be unable to access further equity or debt financing when needed. As such, there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The consolidated financial statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP to reflect the financial position and results of operations of the Company. Significant accounting policies followed by the Company in the preparation of its accompanying consolidated financial statements are summarized below. Emerging Growth Company Status The Company is an “emerging growth company”, as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. (b) Principles of consolidation The accompanying consolidated financial statements include the financial statements of Chijet Motor and its subsidiaries. A subsidiary is an entity in which Chijet Motor, directly or indirectly, controls more than one half of the voting power (a) to appoint or remove the majority of the members of the board of directors (the “Board”), (b) to cast majority of votes at the meeting of the Board or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. All inter-company transactions and balances between Chijet Motor and its subsidiaries have been eliminated in consolidation. (c) Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenues and expenses during the reporting period in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s consolidated financial statements primarily include, but are not limited to, the fair value of the net assets of acquired subsidiaries, the determination of performance obligations, the determination of warranty cost, lower of cost and net realizable value of inventory, assessment for impairment of long-lived assets and intangible assets, recoverability of receivables as well as valuation of deferred tax assets, and other contingencies. Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates. (d) Functional currency and foreign currency translation The Company’s reporting currency is the United States dollars (“US$”). The functional currency of the Company and its subsidiaries which is incorporated in places other than Chinese Mainland is United States dollars. The functional currencies of the other subsidiaries are their respective local currencies (“RMB”). The determination of the respective functional currency is based on the criteria set out by Accounting Standards Codification (“ASC”) 830, Foreign Currency Matters. Transactions denominated in foreign currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the applicable exchange rates at the balance sheet date. Non-monetary items that are measured in terms of historical cost in foreign currency are measured using the exchange rates at the dates of the initial transactions. Exchange gains or losses arising from foreign currency transactions are included in the consolidated statements of comprehensive loss. The financial statements of Chijet’s entities of which the functional currency is not US$ are translated from their respective functional currency into US$. Assets and liabilities denominated in foreign currencies are translated into US$ at the exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into US$ at the appropriate historical rates. Income and expense items are translated into US$ using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in other comprehensive income or loss in the consolidated statements of comprehensive loss, and the accumulated currency translation adjustments are presented as a component of accumulated other comprehensive income or loss in the consolidated statements of changes in shareholders’ equity (deficit). (e) Fair value of financial instruments Fair value is the price we would receive to sell an asset or pay to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be either recorded or disclosed at fair value, the Company considers the principal or most advantageous market in which it would transact, and it also considers assumptions that market participants would use when pricing the asset or liability. The Company applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This guidance specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows: Level I — Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured. Level II — Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level II valuation techniques. Level III — Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. When available, the Company uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Company will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. Financial assets and liabilities of the Company primarily consist of cash and cash equivalents, restricted cash, accounts and notes receivable, amounts due from related parties, accounts and notes payable, loans attributable to related parties, promissory note payable, accruals and other current liabilities, long-term payables. As of December 31, 2023 and 2022, the carrying values of these financial instruments approximated to their respective fair values. (f) Cash and cash equivalents Cash and cash equivalents primarily consist of cash and demand deposits which are highly liquid. The Company considers highly liquid investments that are readily convertible to known amounts of cash and with original maturities from the date of purchase of three months or less to be cash equivalents. All cash and cash equivalents are unrestricted as to withdrawal and use. (g) Restricted cash Restricted cash represents (a) the cash frozen relating to the court order; (b) the deposits held in designated bank accounts for security of the repayment of the notes payable. The restricted cash attributable to the court order primarily resulted from the legal proceeding related to the contract dispute. As of December 31, 2023 and 2022, the restricted cash amounted to approximate US$ 1,378 12,105 The restricted cash is presented separately on the consolidated balance sheets as follows: SCHEDULE OF RESTRICTED CASH December 31, 2023 December 31, US$’000 US$’000 Frozen amount 1,378 1,463 Security amount - 10,642 Total restricted cash 1,378 12,105 (h) Current expected credit losses On January 1, 2023, the Company adopted Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), using the modified retrospective transition method. The Company’s accounts and notes receivable, amounts due from related parties and other current assets are within the scope of ASC Topic 326. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and the Company’s customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company estimates allowance for credit losses for the anticipation of future economic condition and credit risk indicators of customers. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. In the event the Company recovers amounts previously reserved for, the Company will reduce the specific allowance for credit losses. The cumulative effect from the adoption as of January 1, 2023 was immaterial to the consolidated financial statements. The following table summarizes the activity in the allowance for expected credit loss of other current assets for the year ended December 31, 2023. SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS For the Year Ended December 31, 2023 US$’000 Balance as of December 31, 2022 - Adoption of ASC Topic 326 73 Balance as of January 1, 2023 73 Balance 73 Current period provision 56 Write-offs - Balance as of December 31, 2023 129 Balance 129 (i) Inventory Inventories are stated at the lower of cost or net realizable value. Cost is calculated on the weighted average basis and includes all costs to acquire and other costs to bring the inventories to their present location and condition. The Company records inventory write-downs for excess or obsolete inventories based upon assumptions on current and future demand forecasts. If the inventory on hand is in excess of future demand forecast, the excess amounts are written off. The Company also reviews inventory to determine whether its carrying value exceeds the net amount realizable upon the ultimate sale of the inventory. This requires the determination of the estimated selling price of the vehicles less the estimated cost to convert inventory on hand into a finished product. Once inventory is written-down, a new, lower-cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. (j) Property, plant and equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any. Property, plant and equipment are depreciated primarily using the straight-line method over the estimated useful life of the asset. Salvage value rate is determined to 0 5 SCHEDULE OF ESTIMATED USEFUL LIFE Estimated useful lives Buildings 20 Machinery and equipment 3 25 Vehicles 4 5 Computer and electronic equipment 2 5 Mold and tooling 1 13 The cost of maintenance and repairs is expensed as incurred, whereas the cost of renewals and betterment that extends the useful lives of property, plant and equipment is capitalized as additions to the related assets. Construction in progress represents property, plant and equipment under construction and pending installation and is stated at cost less accumulated impairment losses, if any. Completed assets are transferred to their respective asset classes and depreciation begins when an asset is ready for its intended use. Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest expense on construction-in-progress is included within property, plant and equipment and is amortized over the life of the related assets. The gain or loss on the disposal of property, plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statement of comprehensive loss. The gain on the disposal of property was approximate US$ 287 13 11 (k) Intangible assets, net Intangible assets mainly consist of computer software, patent, trademark and manufacturing license. Intangible assets with finite lives are carried at acquisition cost less accumulated amortization and impairment, if any. Finite lived intangible assets are tested for impairment if impairment indicators arise. Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below: SCHEDULE OF AMORTIZATION OF INTANGIBLE ASSETS Estimated useful lives Patent 5 10 Computer software 2 10 The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives have changed. Intangible assets that have indefinite useful life are automotive manufacturing permission and trademark as of December 31, 2023 and December 31, 2022. The Company evaluates indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support indefinite useful lives. The value of indefinite-lived intangible assets is not amortized, but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. As such, no (l) Land use rights, net Land use rights represent lease prepayments to the local government authorities. Upon the adoption of ASC 842, Leases (m) Long-term investments Long-term investments are comprised of investment in Jilin FAW Baosteel Auto Steel Parts Co., Ltd. (“Baosteel”) amounting to approximate US$ 3,699 4,370 30 20 The Company uses the equity method of accounting for its investment in, and earning or loss of, the companies that it does not control but over which it has ability to exercise significant influence in accordance with ASC topic 323, Investment—Equity Method and Joint Ventures (“ASC 323”). Under the equity method, the Company initially records its investment at cost and is included in the long-term investments on the consolidated balance sheets. The Company subsequently adjusts the carrying amount of the investment to recognize the Company’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. If an equity investment no longer qualifies to be accounted for under the equity method, the investment’s initial basis for which subsequent changes in value are measured should be the previous carrying amount of the investment. The Company periodically reviews its equity investment for impairment. Under the equity method of accounting, an impairment loss would be recorded whenever the fair value of an equity investment is determined to be below its carrying value. The Company considers whether the fair value of its equity method investment has declined below its carrying value whenever adverse events or changes in circumstances indicate that recorded value may not be recoverable. An impairment charge would be recorded when the decline in value is determined to be other-than-temporary. There was no impairment loss of long-term investment during the years ended December 31, 2023, 2022 and 2021. (n) Goodwill Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any fair value of the Company’s previously held equity interests in the acquiree over the identifiable net assets acquired and liabilities assumed. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognized in profit or loss as a gain on bargain purchase. The Company adopted Accounting Standards Update (“ASU”) 2017-04, Intangible – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. After adopting this guidance, the Company performs the quantitative impairment test by comparing the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, the amount by which the carrying amount exceeds the reporting unit’s fair value is recognized as impairment. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, allocation of assets, liabilities and goodwill to reporting units, and determination of the fair value of each reporting unit. (o) Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will affect the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company firstly determine the unit of account for testing long-lived assets, and then identify the indicators of impairment. When indicators of impairment present, the company must then proceed to recoverability test. Recoverability test evaluates the impairment by comparing carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. Fair value is determined using anticipated cash flows discounted at a rate commensurate with the risk involved. Impairment charges recognized for the years ended December 31, 2023, 2022 and 2021 was US$ 283 842 6,054 (p) Warranties The Company provides a manufacturer’s standard warranty on all vehicles sold. The Company accrues a warranty reserve for the vehicles sold by the Company, which includes the Company’s best estimate of the projected costs to repair or replace items under warranties and recalls when identified. These estimates are based on actual claims incurred to date and an estimate of the nature, frequency and costs of future claims. Changes to the Company’s historical or projected warranty experience may cause material changes to the warranty reserve in the future. The portion of the warranty reserve expected to be incurred within the next 12 months is included within accruals and other liabilities, while the remaining balance is included within other non-current liabilities on the consolidated balance sheets. Warranty expense is recorded as a component of cost of sales in the consolidated statements of operations. The Company reevaluates the adequacy of the warranty accrual on a regular basis. The Company considers the standard warranty is not providing incremental service to customers rather an assurance to the quality of the vehicle, and therefore is not a separate performance obligation and should be accounted for in accordance with ASC 460, Guarantees. Accrued warranty is included in other liabilities and the movement of accrued warranty is as following: SCHEDULE OF ACCRUED WARRANTY December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Accrued warranty - beginning of year 319 290 1,202 Warranty costs incurred (106 ) (89 ) (989 ) Provision for warranty - 86 131 Translation adjustment (9 ) 32 (54 ) Accrued warranty - end of year 204 319 290 (q) Revenue recognition Revenue is recognized when or as the control of the goods or services is transferred upon delivery to customers. Depending on the terms of the contract and the laws that apply to the contract, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if our performance: ● provides all of the benefits received and consumed simultaneously by the customer; ● creates and enhances an asset that the customer controls as the Company performs; or ● does not create an asset with an alternative use to the Company and the Company have an enforceable right to payment for performance completed to date. If control of the goods and services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of the performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of goods and services. Contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates overall contract price to each distinct performance obligation based on its relative standalone selling price in accordance with ASC 606, Revenue from Contracts with Customers For new Master Service Agreements (“MSA”) or for Purchase Orders (“PO”) from new customers, a credit check is required, which establishes collectability of the considerations to which the Company expects to be entitled. Management also has controls in place for the review of credit limits with existing customers. Other considerations in determining collectability include the customer’s payment history, prior or existing customer disputes, if any, and market conditions. When either party to a contract has performed, the Company presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A receivable is recorded when the Company has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. If a customer pays consideration or the Company has a right to an amount of consideration that is unconditional, before the Company transfers a good or service to the customer, the Company presents the contract liability when the payment is made or a receivable is recorded, whichever is earlier. A contract liability is the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration, or an amount of consideration is due, from the customer. The Company’s contract liabilities are primarily resulted from the performance obligation identified in the vehicle sales contract, which is recorded as deferred revenue and revenue will be recognized when future goods or services are transferred. Besides, amounts received on behalf of third parties are recorded as other current liabilities. Vehicle Sales Vehicle sales revenue includes revenues related to deliveries of new vehicles under the definition of a performance obligation under ASC 606. The Company recognizes revenue on vehicle sales upon delivery to the customer, which is when the control of a vehicle transfers. For the obligations related to the vehicle sales, the Company estimates the standalone selling price by considering costs used to develop and deliver the service, third-party pricing of similar options and other information that may be available. The Company provides a manufacturer’s limited warranty on all new vehicles sold to the customers, ensuring that the vehicles comply with agreed-upon specifications. As the manufacturer’s limited warranty is not separately sold to the customers, the Company does not consider the warranty as a separate performance obligation under the ASC 606-10-55-31. Sales of vehicle parts and accessories The Company recognizes revenue upon transfer of control to the customer which occurs at a point in time. When the Company performs shipping and handling activities after the transfer of control to the customer, they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Practical expedients and exemptions The Company follows the guidance on immaterial promises when identifying performance obligations in the vehicle sales contracts and concludes that labor related to assurance-type warranties is not a performance obligation considering this service is value-added service to enhance customer experience rather than critical items for vehicle driving and forecasted that usage of this service will be very limited. The Company also performs an estimation on the stand-alone fair value of the promise applying a cost-plus margin approach and concludes that the standalone fair value of foresaid service is insignificant, representing less than 5% of vehicle gross selling price and aggregate fair value of each individual promise. Revenue consists of the following: SCHEDULE OF REVENUE Related Parties Third Parties Related Parties Third Parties Related Parties Third Parties For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Related Parties Third Parties Related Parties Third Parties Related Parties Third Parties Vehicle sales $ 713 $ 6,967 $ 3,722 $ 7,908 $ 6,887 $ 5,395 Sales of vehicle parts and accessories $ 1,690 $ 113 $ 3,086 $ 145 $ 8,393 $ 1,528 Others $ - $ - $ 100 $ - $ 3 $ 97 Total revenues 2,403 7,080 6,908 8,053 15,283 7,020 All of the property and equipment of the Company are physically located in the PRC. The geographical location of customers is based on the location at which the customers operate and all of the Company’s revenue is derived from operations in the PRC for the years ended December 31, 2023, 2022 and 2021. (r) Cost of revenues Cost of revenue includes direct parts, material, labor cost and manufacturing overhead (including depreciation of assets associated with the production) and reserves for estimated warranty cost. Cost of revenue also includes charges to write-down the carrying value of the inventories when it exceeds its estimated net realizable value and to provide for on-hand inventories that are either obsolete or in excess of forecasted demand. (s) Cost of revenues – idle capacity Idle capacity consists of production-related costs in excess of charges allocated to the Company’s finished goods in production. The costs include direct and indirect labor, production supplies, repairs and maintenance, rent, utilities, insurance and property taxes. The costs allocated to the Company’s finished goods are determined on a daily basis which is lower than its actual costs incurred. Costs in excess of production allocations are expensed in the period incurred rather than added to the cost of finished goods produced. Idle capacity expenses amounted to US$ 26,951 34,001 23,342 (t) Research and development expenses All costs associated with research and development (“R&D”) are expensed as incurred. R&D expenses consist primarily of employee compensation for those employees engaged in R&D activities, design and development expenses with new technology, materials and supplies and other R&D related expenses. For the years ended December 31, 2023, 2022 and 2021, R&D expenses were US$ 8,398 13,772 15,420 (u) Selling, general and administrative expenses Sales and marketing expenses consist primarily of employee compensation, transportation cost, and packaging fee. Selling costs are expensed as incurred. For the years ended December 31, 2023, 2022 and 2021, total sales and marketing expenses were US$ 1,590 2,012 1,864 General and administrative expenses consist primarily of employee compensation for employees involved in general corporate functions and those not specifically dedicated to R&D activities, share-based compensation, depreciation and amortization expenses, legal, and other professional services fees, lease and other general corporate related expenses. For the years ended December 31, 2023, 2022 and 2021, general and administrative expenses were US$ 45,691 63,312 48,577 (v) Employee benefits Full-time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, work-related injury benefits, maternity insurance, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Company’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately US$ 5,118 5,824 7,276 (w) Government grants The Company’s PRC based subsidiaries received government subsidies from certain local governments. The Company’s government subsidies consist of specific subsidies. Specific subsidies are subsidies which are provided by the local government for a specific purpose, such as land fulfillment costs a

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENT	12 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENT	3. RECENT ACCOUNTING PRONOUNCEMENT Recently adopted accounting pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, and issued subsequent amendments to the initial guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11 and ASU 2020-02, collectively referred to as “ASC 326”. ASC 326 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This ASU eliminates the probable initial recognition threshold in current GAAP and, instead, reflects an entity’s current estimate of all expected credit losses. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for certain to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted this ASU within annual reporting period on January 1, 2023. There were no significant impact resulting from these disclosures on the consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805). This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. The Company adopted this ASU within annual reporting period on January 1, 2023. There were no significant impact resulting from these disclosures on the consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Troubled Debt Restructuring and Vintage Disclosures. This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted ASU 2016-03, Measurement of Credit Losses on Financial Instruments. This ASU also enhances the disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the ASU amends the guidance on vintage disclosures to require entities to disclose current period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326-20. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU would be applied prospectively. Early adoption is also permitted, including adoption in an interim period. The Company adopted this ASU within annual reporting period on January 1, 2023. There were no significant impact resulting from these disclosures on the consolidated financial statements. Recently issued accounting pronouncements not yet adopted In December 2022, the FASB issued ASU No. 2022-06, Deferral of the Sunset Date of Reference Rate Reform (Topic 848) (ASU 2022-06). ASU 2022-06 provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. ASU 2022-06 deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. ASU 2022-06 is effective as of December 21, 2022 through December 31, 2024. The Company will adopt this ASU within annual reporting period of January 1, 2024 and expects that the adoption will not have a material impact on the Company’s consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements – Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. The ASU modifies the disclosure or presentation requirements of a variety of Topics in the Codification to align with the SEC’s regulations. The ASU also makes those requirements applicable to entities that were not previously subject to the SEC’s requirements. The ASU is effective for the Company two years after the effective date to remove the related disclosure from Regulation S-X or S-K. As of the date these financial statements have been made available for issuance, the SEC has not yet removed any related disclosure. The Company does not expect the adoption of ASU 2023-06 to have a material effect on its consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280)-Improvements to Reportable Segment Disclosures. ASU No. 2023-07 requires an enhanced disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, on an annual and interim basis. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of this guidance should be applied retrospectively to all prior periods presented. Early adoption is permitted. The Company does not expect to adopt ASU No. 2023-07 early and is currently evaluating the impact of adopting this standard on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires the annual financial statements to include consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company’s annual reporting periods beginning after December 15, 2025. Adoption is either with a prospective method or a fully retrospective method of transition. Early adoption is permitted. The Company is currently evaluating the effect that adoption of ASU 2023-09 will have on its consolidated financial statements.

CONCENTRATION OF RISK

CONCENTRATION OF RISK	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
CONCENTRATION OF RISK	4. CONCENTRATION OF RISK (a) Credit risk Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, restricted cash, accounts and notes receivable, and accounts and notes payable. The maximum exposure of such financial instruments to credit risk is their carrying amounts as of the balance sheet dates. As of December 31, 2023 and December 31, 2022, substantially all of the Company’s cash and cash equivalents and restricted cash were placed within the PRC. Management chooses these institutions because of their reputations and track records for stability, and their known large cash reserves, and management periodically reviews these institutions’ reputations, track records, and reported reserves. Management expects that any additional institutions that the Company uses for its cash and bank deposits would be chosen with similar criteria for soundness. Bank failure is uncommon in PRC and the Company believes that those Chinese banks that hold the Company’s cash and cash equivalents and restricted cash are financially sound based on publicly available information. For the credit risk related to accounts and notes receivable, the Company performs ongoing credit evaluations of its customers and, if necessary, maintains reserves for potential credit losses. (b) Customer risk As of December 31, 2023, one customer, determined as a related party under ASC 850, accounted for 12 19 As of December 31, 2022, three customers, were determined as related parties under ASC 850, accounted for more than 10% of total accounts and notes receivable at 69 19 10 During the year ended December 31, 2023, one third-party customer accounted for 22 During the year ended December 31, 2022, four customers accounted for more than 10% of total revenue at 13 12 12 11 37 During the year ended December 31, 2021, one customer was determined as related parties under ASC 850 accounted for 35 (c) Foreign currency exchange rate risk The revenues and expenses of the Company’s entities in the PRC are generally denominated in RMB and their assets and liabilities are denominated in RMB. The Company’s overseas financing activities are denominated in U.S. dollars. The RMB is not freely convertible into foreign currencies. Remittances of foreign currencies into the PRC or remittances of RMB out of the PRC as well as exchange between RMB and foreign currencies require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into other currencies.

ACCOUNTS AND NOTES RECEIVABLE,

ACCOUNTS AND NOTES RECEIVABLE, NET	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
ACCOUNTS AND NOTES RECEIVABLE, NET	5. ACCOUNTS AND NOTES RECEIVABLE, NET Accounts and notes receivable and allowance for doubtful accounts consisted of the following: SCHEDULE OF ACCOUNTS AND NOTES RECEIVABLE NET December 31, 2023 December 31, 2022 US$’000 US$’000 Accounts receivable 20 17 Notes receivable 2,221 216 Less: allowance for credit losses - - Net accounts and notes receivable, net 2,241 233 Notes receivable represents bank acceptance drafts that are non-interest-bearing and due within six to twelve months. The Company has developed a CECL model based on historical experience, the age of the accounts receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. There is no

INVENTORY, NET

INVENTORY, NET	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORY, NET	6. INVENTORY, NET Inventory consisted of the following: SCHEDULE OF INVENTORY NET December 31, 2023 December 31, 2022 US$’000 US$’000 Finished goods 3,665 14,721 Raw materials 15,720 16,249 Work-in-process 7,517 9,503 Inventory, subtotal 26,902 40,473 Less: inventory impairment provision (12,117 ) (16,555 ) Inventory, net 14,785 23,918 Finished goods primarily consist of vehicles ready for transit at production factory, vehicles in transit to fulfill customer orders, new vehicles available for immediate sale at its delivery and service centers, vehicle parts and charging piles. Raw materials primarily consist of materials for volume production. Work-in-process primarily consist of vehicles in production which will be transferred into finished goods inventory when completed. For the years ended December 31, 2023, 2022 and 2021, write-downs of inventories to net realizable value were US$ 4,510 4,450 20,328

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
OTHER CURRENT ASSETS	7. OTHER CURRENT ASSETS Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS December 31, 2023 December 31, 2022 US$’000 US$’000 Prepayments for materials 7,509 16,372 Prepayments for R&D 110 698 Prepayments for utilities 571 596 Other prepayments 341 250 Deductible value-added tax input 207 630 Other receivable 1,662 250 Promissory note receivable - 1,380 Deferred cost - 2,959 Subtotal 10,400 23,135 Less: allowance for bad debts (449 ) (230 ) Net balance 9,951 22,905 On December 5, 2022, Chijet Inc. entered into an unsecured promissory note in the principal amount of US$ 1,380 1,180 2,060 47,541 500 On March 21, 2022, the Ministry of Finance (“MOF”) and State Administration of Tax (“SAT”) released Announcement (2022) No.14 to issue China’s VAT rebates to eligible industries. Companies in these industries can now apply for monthly refunds of incremental VAT credits and a one-time refund of remaining VAT credits from April 1, 2022 onward. Given that Chijet falls within the scope of the eligible industry, the deductible value-added tax input is classified as other current assets.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	8. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment consisted of the following: SCHEDULE OF PLANT AND EQUIPMENT NET December 31, 2023 December 31, 2022 US$’000 US$’000 At cost: Buildings 169,170 174,120 Mold and tooling 101,563 127,345 Computer and electronic equipment 6,993 7,255 Machinery and equipment 263,587 275,369 Vehicles 1,204 1,668 Other logistic equipment 7,641 7,617 Construction in progress (i) 15,201 16,935 Property, plant and equipment, subtotal 565,359 610,309 Less: accumulated depreciation (ii) (380,090 ) (384,936 ) Less: accumulated impairment (iii) (3,892 ) (7,471 ) Property, plant and equipment, net (iv) 181,377 217,902 (i) Construction in progress primarily consists of the construction of Shandong Baoya, Xiangyang Yazhi New Energy Automobile Co., Ltd. (“Xiangyang Yazhi”), Dezhou Yarui New Energy Automobile Co., Ltd. (“Dezhou Yarui”) manufacturing plants and molds, toolings, machinery and equipment relating to the manufacturing. (ii) Depreciation expenses for the years ended December 31, 2023, 2022 and 2021 were US$ 31,354 thousand, US$ 41,217 thousand and US$ 50,780 thousand respectively. (iii) Impairment charges of US$ 283 thousand, US$ 842 thousand and US$ 6,054 were recognized for the years ended December 31,2023, 2022 and 2021, respectively. (iv) The carrying amounts of buildings, mold and tooling, machine and equipment and other logistic equipment pledged by the FAW Jilin to secure the borrowings as of December 31, 2023 and December 31, 2022 were US$ 58,584 76,536 The carrying amounts of buildings, mold and tooling, machine and equipment pledged by the Xiangyang Yazhi to secure the borrowings as of December 31, 2023 and December 31, 2022 were US$ 28,581 nil The carrying amounts of buildings, machine and equipment pledged by Dezhou Yarui to secure the borrowings as of December 31, 2023 and December 31, 2022 were US$ 1,961 844 The carrying amounts of machinery and equipment of Bijie Yabei that was frozen attributable to the court order as of December 31, 2023 and December 31, 2022 were US$ 152 467

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	9. INTANGIBLE ASSETS, NET Intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS December 31, 2023 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’000 US$’000 US$’000 Finite-lived intangible assets: Computer software 472 (439 ) 33 Patent 208 (208 ) - Total finite-lived intangible assets 680 (647 ) 33 Indefinite-lived intangible assets: Trademark and manufacturing license 127,378 - 127,378 Total indefinite-lived intangible assets 127,378 - 127,378 Total intangible assets 128,058 (647 ) 127,411 December 31, 2022 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’000 US$’000 US$’000 Finite-lived intangible assets: Computer software 487 (389 ) 98 Patent 214 (214 ) - Total finite-lived intangible assets 701 (603 ) 98 Indefinite-lived intangible assets: Trademark and manufacturing license 131,108 - 131,108 Total indefinite-lived intangible assets 131,108 - 131,108 Total intangible assets 131,809 (603 ) 131,206 No Amortization expenses of intangible assets were US$ 82 86 45 As of December 31, 2023, estimated amortization expense relating to the existing intangible assets with finite lives for future periods is as follows: SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE INTANGIBLE ASSETS US$’000 2024 29 2025 and thereafter 4 Total 33

LAND USE RIGHTS, NET

LAND USE RIGHTS, NET	12 Months Ended
	Dec. 31, 2023
Land Use Rights Net
LAND USE RIGHTS, NET	10. LAND USE RIGHTS, NET Land use rights consisted of the following: SCHEDULE OF LAND USE RIGHTS NET December 31, 2023 December 31, 2022 US$’000 US$’000 Land use right 153,204 158,995 Less: accumulated amortization (27,055 ) (24,654 ) Land use right, net 126,149 134,341 During the year ended December 31, 2019, the Company obtained three operating lease arrangements for land use rights with a fair value of RMB 615,419 88,380 One land is for commercial land use and expires in 2050. The other two lands are for industrial use and expire in 2061 and 2062, respectively. The land use rights provided a total area of 13 million square feet As discussion in Note 17, during the period ended December 31, 2023, the Company was unable to meet the conditions to apply for the government subsidies to repay the loans. As a result, land use rights with the carrying amount of US$ 46,872 332,784 33,885 233,738 During the year ended December 31, 2020, the Company entered into an operating lease arrangement with two land use rights with a local government of Shandong Baoya for an initial term of 50 years. The land is located in Yantai, and the land is for industrial use. In October 2023, the government recovered part of the land use right, and therefore Shandong Baoya only has one land use right as of December 31, 2023. Amortization expenses of land use rights were US$ 3,184 3,350 3,488

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Dec. 31, 2023
Operating Leases
OPERATING LEASES	11. OPERATING LEASES Operating lease of the Company mainly consists of short-term lease of plants, warehouses and machineries. Short-term lease cost is recognized as rental expenses in the consolidated statements of operations. Supplemental cash flows information related to leases were as follows: SUPPLEMENTAL CASH FLOWS INFORMATION For the year ended For the year ended For the year ended December 31, December 31, 2022 December 31, US$’000 US$’000 US$’000 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows payments for operating leases - 2,899 - Right-of-use assets obtained in exchange for lease liabilities: Right-of-use assets obtained in exchange for new operating lease liabilities - 354 - The components of lease cost for operating leases were as follows: SCHEDULE OF COST FOR OPERATING LEASES US$’000 US$’000 US$’000 For the year ended For the year ended For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Operating lease cost - 398 - Short-term lease cost 1,357 1,168 4,581 Total lease cost 1,357 1,566 4,581 As of December 31, 2023, the lease related assets and liabilities recorded in the audited consolidated balance sheets were both nil.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	12. GOODWILL Goodwill was represented the excess of the purchase price over the fair value of the net assets acquired from FAW Jilin on December 27, 2019 (the “Acquisition Date”). Pursuant to the related Agreement and Plan of Merger, the purchase price was US$ 214,415 1,500,000 The Company accounted for the acquisition using the purchase method of accounting for business combinations under ASC 805, Business Combinations. The total purchase price was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed on their estimated fair value as of the Acquisition Date. SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES US$’000 RMB’000 Assets acquired: Cash and cash equivalents 235,165 1,645,169 Accounts and notes receivable 111,511 780,105 Other receivable 262 1,829 Inventory 30,766 215,232 Property, plant and equipment, net 273,142 1,910,844 Equity investment 4,773 33,391 Intangible assets 129,315 904,663 Land use right 87,970 615,419 Prepayments and other assets, current and non-current 53,820 376,512 Total assets acquired 926,724 6,483,164 Liabilities and equity assumed Short-term borrowing (28,589 ) (200,000 ) Accounts and notes payable (160,346 ) (1,121,745 ) Contract liabilities (11,904 ) (83,276 ) Accounts and other liabilities (20,830 ) (145,725 ) Long-term payables (249,417 ) (1,744,870 ) Accrued post-employment and termination benefits (73,634 ) (515,130 ) Other payable, current and non-current (81,749 ) (571,898 ) Noncontrolling interest (88,575 ) (619,653 ) Total liabilities and equity assumed (715,044 ) (5,002,297 ) Net assets acquired 211,680 1,480,867 Goodwill 2,735 19,133 Total purchase price 214,415 1,500,000 Changes in the carrying amount of goodwill consisted of the following: SCHEDULE OF CARRYING AMOUNT OF GOODWILL December 31, 2023 December 31, 2022 US$’000 US$’000 Beginning balance 2,774 3,010 Addition during the period - - Impairment during the period - - Translation adjustment (79 ) (236 ) Goodwill 2,695 2,774 Goodwill of US$ 2,735 19,133 2,695 2,774 no

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	13. OTHER ASSETS Other assets consisted of the following: SCHEDULE OF OTHER ASSETS December 31, 2023 December 31, 2022 US$’000 US$’000 Long-term deferred expenses 4,292 2,392 Total 4,292 2,392 Long-term deferred expenses of US$ 4,292

ACCOUNTS AND NOTES PAYABLE

ACCOUNTS AND NOTES PAYABLE	12 Months Ended
	Dec. 31, 2023
Accounts And Notes Payable
ACCOUNTS AND NOTES PAYABLE	14. ACCOUNTS AND NOTES PAYABLE Accounts and notes payable consisted of the following: SCHEDULE OF ACCOUNTS AND NOTES PAYABLE December 31, 2023 December 31, 2022 US$’000 US$’000 Accounts payable 14,824 18,218 Notes payable - 10,566 Total 14,824 28,784 Notes payable consisted of bank note payable provided by the Company to its suppliers. These short-term bank notes can be endorsed and assigned to suppliers as payments for purchases. The bank notes payable are generally payable within six months. These notes payable are guaranteed by the bank for their full face value. In addition, the banks usually require the Company to deposit a certain amount of funds at the bank as a guaranteed deposit, which is classified on the consolidated balance sheets as restricted cash.

CONTRACT LIABILITIES

CONTRACT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Contract Liabilities
CONTRACT LIABILITIES	15. CONTRACT LIABILITIES Contract liabilities primarily consisted of advance payments from customers prior to the transfer of goods or services by the Company. The payment amounts and timing vary depending on the vehicle model, the energy product and the location of delivery. Contract liabilities are included in current liabilities until refunded or until they are applied towards the revenue. SCHEDULE OF CONTRACT LIABILITIES December 31, 2023 December 31, 2022 US$’000 US$’000 Contract liabilities - beginning of year 3,654 6,254 A change in time frame for a performance obligation satisfied (11,747 ) (11,771 ) Advance received 13,205 9,612 Translation adjustment (104 ) (441 ) Contract liabilities - subtotal 5,008 3,654 Less: contract liabilities to related parties (2,483 ) (912 ) Contract liabilities - end of period 2,525 2,742

ACCRUALS AND OTHER CURRENT LIAB

ACCRUALS AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
ACCRUALS AND OTHER CURRENT LIABILITIES	16. ACCRUALS AND OTHER CURRENT LIABILITIES Accruals and other current liabilities consisted of the following: SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES December 31, 2023 December 31, 2022 US$’000 US$’000 Payroll payable 6,876 8,339 Accrued post-employment and termination benefits - current portion 8,809 9,338 Business and other taxes payable 456 585 Accrued expenses 18,362 18,029 Other payable secured by acceptance draft 3,525 216 Other payable 9,400 9,067 Total 47,428 45,574

LONG-TERM PAYABLE, CURRENT

LONG-TERM PAYABLE, CURRENT	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM PAYABLE, CURRENT	17. LONG-TERM PAYABLE, CURRENT In May 2016, the Company entered two loans with unrelated non-financial institutions. The purpose of the borrowing was solely for the development of the Electric Vehicle industry in Xiangyang, PRC, and cannot be used for any other purposes. The loans bear no interest, and the maturity date was determined depending on the development status. Because of the nature of these loans, the Company was subject to the fulfillment of covenants relating to the Company’s consolidated statement of financial position performance and results. However, due to the Covid-19 pandemic and the specific regulations issued, the Company was unable to meet the conditions in the loan agreements and, therefore, unable to apply for the government subsidies to repay the US$ 97,832 694,598 737 5,232 5 The carrying value of the borrowings approximates its fair value as of December 31, 2023 and December 31, 2022. As of December 31, 2023 and December 31, 2022, the outstanding principals were US$ 97,832 694,598 100,697 694,598 Management has performed a detailed analysis of the potential loss and determined the outcome is uncertain as of April 30, 2024. The Company also proactively negotiates with the lender to sign a supplement agreement to extend the terms. At the same time, the Company plans to expand production to meet the conditions described in the loan agreement. In June 2023, the Company signed two pledged contracts with the above government subsidies. According to the contracts, the Company pledged machinery and equipment, mold and tooling with a carrying amount of approximately US$ 12,766 90,638 15,815 11,282 14,406 102,280

PROMISSORY NOTE PAYABLE

PROMISSORY NOTE PAYABLE	12 Months Ended
	Dec. 31, 2023
Promissory Note Payable
PROMISSORY NOTE PAYABLE	18. PROMISSORY NOTE PAYABLE On December 5, 2022, Chijet Inc. issued a secured promissory note and pledge agreement (“Note”) with unrelated third party (the “Holder”) in the principal amount of US$ 1,380 18 (i) January 6, 2023; (ii) the date that funding is received by Chijet Inc. in an amount of the amounts due hereunder after clearing the foreign exchange exit approval process in China; or (iii) the date of receipt by Chijet Inc. of the proceeds of US$10 million from the first tranche of financing. 280 17 January 6, 2023 to February 20, 2023 220 13 February 20, 2023, to March 22, 2023 In 2014, Bijie Yabei New Energy Automobile Co., Ltd. (Bijie Yabei) became involved in a legal dispute with the Bijie Jinhaihu New District Management Committee (the “Plaintiff”) regarding a loan contract disagreement with the loan principal of RMB 10 6 1,408 10,000 1,450 10,000

ACCRUED POST-EMPLOYMENT AND TER

ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS	19. ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS The Company paid post-employment obligations to its retired employees. In addition, the Company was committed to make periodic benefits payments to certain former employees, who were terminated or early retired. These benefits were only applicable to the qualifying employees. The Company has three defined benefit, non-contributory retirement or termination plans that cover qualifying employees. These defined benefit plans provide benefits to covered individuals satisfying certain age and/or service requirements. The three benefit plans are as follows: (i) Plan 1: Post-employment benefits for participants in 2019 restructure; (ii) Plan 2: Termination benefits for participants in 2019 restructure; (iii) Plan 3: Post-employment benefits for participants granted after 2019; For the year ended December 31, 2022, there were some changes occurred in Plan 1. And for the year ended December 31, 2023, additional changes were occurred in Plan 1 and Plan 3. The above changes have been accounted for past service cost and amortized during the average future lifetime or service period of corresponding members under guidance of ASC 715. Details of the movements of the defined benefit plans during the year are presented below. The Company’s net obligation in respect to defined benefit retirement plans is calculated separately for each plan by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine the present value and the fair value of any plan assets is deducted. The actuarial valuation of the present value of the defined benefit obligations as of December 31, 2023 and December 31, 2022 were prepared by an independent firm of actuaries, a member of China Association of Actuaries. In accordance with ASC 715-30, Benefit Plans-Pension, the following components have been included in the net obligation recognized for a period by the Company: (i) service cost; (ii) interest cost; (iii) expected return on plan assets, if any; (iv) amortization of any prior service cost or credit included in accumulated other comprehensive income; and (v) gain or loss (including the effects of changes in financial assumptions), which includes, to the extent recognized, amortization of the net gain or loss included in accumulated other comprehensive income. The present value of the defined benefit obligations, and the related service costs were measured using the projected unit credit method. The principal assumptions used for the purposes of the actuarial valuations are as follows: SCHEDULE OF ASSUMPTIONS USED FOR ACTUARIAL VALUATIONS December 31, 2023 December 31, 2022 Discount rate 2.25 2.75 2.50 3.25 Mortality rate (2010-2013) - CL5/CL6 up 2 years Annual withdrawal rate 3.00 % 3.00 % Annual increase rate of supplemental medical benefits 6.00 % 6.00 % Annual increase rate of social insurance, housing fund and EAP 8.00 % 8.00 % * China Life Insurance Mortality Table (2010-2013) Movements in the present value of the retirement and supplemental benefit obligations during the years ended December 31, 2023, 2022 and 2021 are as follows: SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Beginning of period 60,913 74,794 80,734 Service costs 65 65 60 Interest costs 1,353 1,663 2,202 Benefits paid (9,475 ) (10,606 ) (11,849 ) Actuarial loss arising from changes in financial assumptions 790 343 1,523 Past service costs 413 341 - Translation adjustment (1,709 ) (5,687 ) 2,124 End of period 52,350 60,913 74,794 The amount of retirement and supplemental benefit obligations recognized in the consolidated balance sheets are determined as follows: SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATION IN CONSOLIDATED BALANCE SHEET December 31, 2023 December 31, 2022 US$’000 US$’000 End of period 52,350 60,913 Less: net amount due within one year (8,809 ) (9,338 ) Net amount due after one year 43,541 51,575 As of December 31, 2023 and December 31, 2022, the non-current liabilities were US$ 43,541 51,575 As of December 31, 2023 and December 31, 2022, the current portion of the accrued post-employment and termination benefits were US$ 8,809 9,338 The following amounts were recorded in the consolidated statements of operations as components of the net periodic benefit cost: SCHEDULE OF CONSOLIDATED STATEMENTS OF OPERATIONS COMPONENTS For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Service costs 65 65 60 Interest costs 1,353 1,663 2,202 Amortization of actuarial losses 3 1 - Amortization of past service cost 27 27 - Net periodic benefit cost 1,448 1,756 2,262 The following amounts were recorded in the consolidated statements of comprehensive loss: SCHEDULE OF AMOUNTS RECORDED IN CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Actuarial loss arising from changes in financial assumptions 833 254 888 Past service costs 413 341 - Amortization recognized in net period benefit cost (30 ) (28 ) - Total 1,216 567 888 During the years ended December 31, 2023, 2022 and 2021, the Company made cash payments of US$ 9,475 67,030 10,606 71,450 11,849 76,460 SCHEDULE OF DEFINED BENEFIT EXPECTED US$’000 2024 8,809 2025 7,999 2026 7,276 2027 6,340 2028 5,463 Total 35,887

ORDINARY SHARES AND STATUTORY R

ORDINARY SHARES AND STATUTORY RESERVE	12 Months Ended
	Dec. 31, 2023
Ordinary Shares And Statutory Reserve
ORDINARY SHARES AND STATUTORY RESERVE	20. ORDINARY SHARES AND STATUTORY RESERVE On June 1, 2023, pursuant to the BCA, Chijet Motor, a wholly-owned subsidiary of Chijet Inc. merged with JWAC such that JWAC became a wholly-owned subsidiary of the Chijet Motor. With the completion of shares exchange, Chijet Inc. became a wholly-owned subsidiary of Chijet Motor and the Chijet Inc. Holders received 152,130,300 0.0001 160,659,630 152,130,300 (a) Warrants GT Warrants The following table summarizes the changes in the number of warrants outstanding during the year ended December 31, 2023: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price Balance of warrants - December 31, 2022 5,000,000 $ 2 $ 10,000,000 Issued for services - - - Exercised 550,000 $ 2 $ 1,100,000 Cancelled - - - Expired - - - Balance of warrants – December 31, 2023 4,450,000 $ 2 $ 8,900,000 Balance of warrants exercisable - December 31, 2023 4,450,000 $ 2 $ 8,900,000 On February 15, 2022, pursuant to a financial advisory agreement, Shandong Baoya issued 5,000,000 2.00 22,900 22,900 The Company used the following assumptions to estimate the fair value of warrants granted under the financial advisory agreement for the year ended December 31, 2022: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED February 15, 2022 Risk-free interest rate 1.72 % Expected volatility 60.00 % Expected term (in years) 5 Expected dividend yield 0.00 % I-Bankers Warrants The following table summarizes the changes in the number of warrants outstanding during the year ended December 31, 2023: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price Balance of warrants - December 31, 2022 414,000 $ 12 $ 4,968,000 Cancelled - - - Expired - - - Balance of warrants – December 31, 2023 414,000 $ 12 $ 4,968,000 On December 9, 2021, JWAC issued warrants to purchase 414,000 12.00 1,087 2.626 12.00 five years The Company used the following assumptions to estimate the fair value of warrants granted for the year ended December 31, 2021: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED December 9, 2021 Risk-free interest rate 1.18 % Expected volatility 35.00 % Expected term (in years) 5 Expected dividend yield 0.00 % (b) Treasury stock Chijet Inc. entered into unsecured promissory notes (the “Promissory Notes”) in the principal amount of US$ 1,380 1,180 500 47,541 0.0001 2,060 47,541 (c) Statutory Reserves and Restricted Net Asset The Company’s PRC subsidiary is restricted in its ability to transfer a portion of its net assets to the Company. The payment of dividends by entities organized in the PRC is subject to limitations, procedures, and formalities. Regulations in the PRC currently permit payment of dividends only out of accumulated profits as determined in accordance with accounting standards and regulations in PRC. The Company is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net income determined in accordance with PRC GAAP. Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary surplus reserve are made at the discretion of the Board of Directors. The statutory reserve may be applied against prior year losses, if any, and may be used for general business expansion, production, or increase in registered capital but are not distributable as cash dividends. For the years ended December 31, 2023 and 2022, the PRC Entities appropriated the statutory reserves of nil nil 6,656 43,707 In accordance with the safety production regulations, the Company’s subsidiaries in China have to make appropriations as a special reserve which will only be used for the enhancement of safety production environment and improvement of facilities. As of December 31, 2023 and December 31, 2022, the accumulated balance of special reserves, which is included in the accumulated deficit, was approximate US$ 574 4,064 574 3,869 Because the Company’s entities in the PRC can only be paid out of distributable profits reported in accordance with PRC accounting standards, the Company’s entities in the PRC are restricted from transferring a portion of their net assets to the Company. The restricted amounts include the paid-in capital, statutory reserves, special reserve and additional paid-in capital of the Company’s entities in the PRC. The aggregate amount of paid-in capital and additional paid-in capital, which is the amount of net assets of the Company’s entities in the PRC (mainland) not available for distribution, were US$ 148,301 170,956

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	21. INCOME TAXES Enterprise income tax Cayman Islands Under the current laws of the Cayman Islands, Chijet Motor is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed. British Virgin Islands The Company’s subsidiary, Baoya Technology Holdings Limited is incorporated in the BVI and under the current laws of the BVI, Baoya Technology Holdings Limited is not subject to tax on income or capital gain. In addition, payments of dividend by the subsidiary to their shareholders are not subject to withholding tax in the BVI. Hong Kong Under the current Hong Kong Inland Revenue Ordinance, the Company’s Hong Kong subsidiary, Baoyaev Group Limited, is subject to 16.5 2.0 8.25 16.5 The PRC The Company’s subsidiaries that are each incorporated in the PRC are subject to Corporate Income Tax (“CIT”) on the taxable income as reported in their respective statutory financial statements adjusted in accordance with the new PRC Enterprise Income Tax Laws (“PRC Income Tax Laws”) effective from January 1, 2008. Pursuant to the PRC Income Tax Laws, the Company’s PRC subsidiaries are subject to a CIT statutory rate of 25 Composition of income tax benefits for the periods presented are as follow: SCHEDULE OF INCOME TAX (BENEFITS) December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Current income tax expenses (benefits) - - - Deferred income tax expenses (benefits) - - - Income tax expenses - - - Reconciliations of the income tax expenses (benefits) computed by applying the PRC statutory income tax rate of 25 SCHEDULE OF RECONCILIATIONS OF INCOME TAX EXPENSES (BENEFITS) December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Loss before income tax expenses (98,501 ) (111,518 ) (62,552 ) Income tax benefits computed at the PRC statutory income tax rate of 25 (24,625 ) (27,880 ) (15,638 ) Effect of exempted revenue on taxes - (6 ) (17,352 ) Effect of additional deduction for qualified R&D expenses (2,040 ) (2,222 ) (2,313 ) Effect of changes in asset value 1,711 1,068 1,999 Non-deductible expenses 154 5,657 182 Changes in valuation allowance and others 24,800 23,383 33,122 Income tax expenses - - - The Company considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will be more-likely-than-not realized. This assessment considers, among other matters, the nature, frequency and severity of recent loss and forecasts of future profitability. These assumptions require significant judgment, and the forecasts of future taxable income are consistent with the plans and estimates the Company is using to manage the underlying businesses. The statutory income tax rate of 25 The Company’s deferred tax assets (liabilities) consisted of the following components: SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES) December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Deferred tax assets Net operating loss carryforwards 140,835 154,881 179,577 Accrued warranty 51 80 72 Accrued expenses 11,095 11,559 9,984 Investment loss 695 575 627 Inventory impairment 3,029 4,139 6,435 Fixed assets impairment provision 973 1,868 1,757 Bad debts 80 - 24 Accrued payroll 13,088 15,228 18,640 Depreciation - - 360 Subtotal 169,846 188,330 217,476 Fair value change of fixed assets (10,321 ) (12,272 ) (14,337 ) Fair value change of intangible assets (3,763 ) (3,979 ) (4,433 ) Total deferred tax liabilities (14,084 ) (16,251 ) (18,770 ) Net deferred tax assets 155,762 172,079 198,706 Less: valuation allowance (155,762 ) (172,079 ) (198,706 ) Deferred tax assets, net of valuation allowance - - - A valuation allowance is provided against deferred tax assets when the Company determines that it is more-likely-than-not that the deferred tax assets will not be utilized in the future. The Company has tax losses arising in Mainland China of US$ 563,338,599 3,999,647,720 one to ten years for deduction against future taxable profits.

RELATED PARTIES

RELATED PARTIES	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTIES	22. RELATED PARTIES The principal related parties with which the Company as of December 31, 2023 presented are as follows: (a) Relationship: Name of Entity or Individual Relationship with the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. Significantly influenced by the Company Jilin Jiqi-Longshan Automobile Chassis Co., Ltd Significantly influenced by the Company Zhang Jiannong Shareholder Wang Qingjun Shareholder Euroamer Kaiwan Technology Company Limited Shareholder Mu Hongwei Principal Owner/Director John Chiang Independent Director Simon Pang Independent Director Wen Li Independent Director Ying Liu Independent Director China FAW Co., Ltd. Non-controlling interest shareholder Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. Non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. Affiliate of non-controlling interest shareholder Nanjing Shengnuo Biotechnology Industry Company Ltd Affiliate of non-controlling interest shareholder Qiming Information Technology Co., Ltd. Affiliate of non-controlling interest shareholder FAW Bestune Car Co., Ltd. Affiliate of non-controlling interest shareholder FAW-Volkswagen Automobile Co., Ltd. Affiliate of non-controlling interest shareholder FAW Mould Manufacturing Co., Ltd. Affiliate of non-controlling interest shareholder FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. Affiliate of non-controlling interest shareholder FAW Logistics Co., Ltd. Affiliate of non-controlling interest shareholder Changchun FAW International Logistics Co., Ltd. Affiliate of non-controlling interest shareholder China FAW Technology Center Affiliate of non-controlling interest shareholder China FAW Group Co., Ltd. Affiliate of non-controlling interest shareholder China FAW Group Import & Export Co., Ltd. Affiliate of non-controlling interest shareholder FAW Finance Co., Ltd. Affiliate of non-controlling interest shareholder Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. Affiliate of non-controlling interest shareholder Shandong Zhanpuce Management Consulting Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd Significantly influenced by non-controlling interest shareholder Jinan Haiyun Investment Consulting Co., Ltd Significantly influenced by non-controlling interest shareholder Machinery Industry Ninth Design and Research Institute Co., Ltd. Significantly influenced by non-controlling interest shareholder FAW Bus (Dalian) Co., Ltd. Significantly influenced by non-controlling interest shareholder (b) The following table consists of the total amount of transactions that have been entered into with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES i) Balance Sheets Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties As of December 31, 2023 US$’000 Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 421 - - - 3 - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd - 1,847 - - - - - Independent Directors John Chiang - 15 - - - 13 - Simon Pang - 15 - - - 13 - Wen Li - 15 - - - 13 - Ying Liu - 15 - - - 13 - Non-controlling interest shareholder China FAW Co., Ltd. 3 - 48,699 184 - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - - - - 1,142 3,906 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - - - - 30,542 104,227 Nanjing Shengnuo Biotechnology Industry Company Ltd - - - - - 69 1,127 Qiming Information Technology Co., Ltd. - - - 81 - 111 - FAW Bestune Car Co., Ltd. 164 - - 75 - - - FAW-Volkswagen Automobile Co., Ltd. 16 - - - - - - FAW Mould Manufacturing Co., Ltd. - - - 39,996 - - - FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. - - - 2,712 - 91 - FAW Logistics Co., Ltd. - - - 2,779 - - - Changchun FAW International Logistics Co., Ltd. - - - 374 - 631 - China FAW Group Co., Ltd. - - - - - 25,204 - China FAW Group Import & Export Co., Ltd. 25 - - 83 119 26 - FAW Finance Co., Ltd. - - - - - 20,565 162,181 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. - - - - 1,527 - - Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd - - - - - 21 563 Jinan Haiyun Investment Consulting Co., Ltd - - - - - 34 1,408 Machinery Industry Ninth Design and Research Institute Co., Ltd. - - - 878 - - - FAW Bus (Dalian) Co., Ltd. - - - - 758 - - Other - 458 49 30 79 4 - Total 208 2,786 48,748 47,192 2,483 78,495 273,412 Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties As of December 31, 2022 US$’000 Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 760 - 204 - 3 - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd - 1,409 - 1,127 - - - Shareholder Zhang Jiannong - - - - - 657 - Principal Owner/Director Mu Hongwei - - - - - 244 - Shareholder Wang Qingjun - - - - - 287 - Non-controlling interest shareholder China FAW Co., Ltd. 114 - 59,928 261 - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - - - - 810 4,890 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - - - - 21,489 107,279 Qiming Information Technology Co., Ltd. - - - 869 - 631 - FAW Bestune Car Co., Ltd. 756 - - 302 - - - FAW Mould Manufacturing Co., Ltd. - 10 - 41,612 - - - FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. - - - 2,791 - 94 - FAW Logistics Co., Ltd. - - - 2,861 - - - Changchun FAW International Logistics Co., Ltd. - - - 385 - 650 - China FAW Group Co., Ltd. - - - - - 25,942 - China FAW Group Import & Export Co., Ltd. - - - 86 11 27 - FAW Finance Co., Ltd. - - - - - 13,780 166,930 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. - - - - 51 - - Significantly influenced by non-controlling interest shareholder Machinery Industry Ninth Design and Research Institute Co.,Ltd. - - - 1,281 - - - FAW Bus (Dalian) Co., Ltd. - - - - 781 - - Other - 480 91 1,110 69 909 - Total 870 2,659 60,019 52,889 912 65,523 279,099 ii) Operations Sales of goods Purchase of goods Interest Expense Sales of goods Purchase of goods Interest Expense Sales of goods Purchase of goods Interest Expense For the year ended December 31,2023 For the year ended December 31,2022 For the year ended December 31,2021 US$’000 US$’000 US$’000 Sales of goods Purchase of goods Interest Expense Sales of goods Purchase of goods Interest Expense Sales of goods Purchase of goods Interest Expense Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 177 - - 941 - - 1,705 - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd 676 2,598 - 316 2,803 - 362 3,307 - Shareholder Wang Qingjun - - 15 - - - - - - Euroamer Kaiwan Technology Company Limited - - 22 - - - - - - Non-controlling interest shareholder China FAW Co., Ltd. 518 - - 100 108 - - 631 - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - 203 - - 245 - - 256 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - 6,894 - - 7,239 - - 8,545 Nanjing Shengnuo Biotechnology Industry Company Ltd - - 70 - - - - - - Qiming Information Technology Co., Ltd. - 213 - - 248 - - 354 - FAW Bestune Car Co., Ltd. 145 1 - 1,790 391 - 7,822 9,297 - FAW-Volkswagen Automobile Co., Ltd. 108 - - 224 - - 316 - - Faw Logistics Co. Ltd - - - - - - - 42 - China FAW Technology Center 243 - - 756 - - 412 - - China FAW Group Co., Ltd. - - - - 429 - - - - China FAW Group Import & Export Co., Ltd. 380 - - 1,824 157 - 6,332 187 - FAW Finance Co., Ltd. - - 7,510 - - 7,240 - - 7,295 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. 333 - - 1,898 - - - - - Significantly influenced by non-controlling interest shareholder Shandong Zhanpuce Management Consulting - - 12 - - - - - - Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd - - 21 - - - - - - Jinan Haiyun Investment Consulting Co., Ltd - - 34 - - - - - - Machinery Industry Ninth Design and Research Institute Co., Ltd. - - - - - - 39 10,160 - Other - 19 - - 1,052 - - 625 - Total 2,403 3,008 14,781 6,908 6,129 14,724 15,283 26,308 16,096 (c) The following table consists of the financing that have been entered into with related parties: SCHEDULE OF FINANCING WITH RELATED PARTIES December 31, 2023 December 31, 2022 US$’000 US$’000 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. (i) 104,227 107,279 Nanjing Shengnuo Biotechnology Industry Company Ltd. (ii) 1,127 - FAW Finance Co., Ltd. (iii) 162,181 166,930 Non-controlling interest shareholder Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (iv) 3,906 4,890 Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd (v) 563 - Jinan Haiyun Investment Consulting Co., Ltd (vi) 1,408 - Total 273,412 279,099 (i) In December 2019, Shandong Baoya entered loans with Yantai Guofeng Investment Holding Group Co., Ltd. The loans are bearing an interest rate of 6.5 nil (ii) In May 2023, Shandong Baoya entered loans with Nanjing Shengnuo Biotechnology Industry Company Ltd. The loans are bearing an interest rate of 10 (iii) During May 2020, FAW Jilin entered pledged loans with FAW Finance Co., Ltd. The loans are bearing rate of 3.915 2022 to 2025 40,545,289 287,867,500 5.0895 3.915 (iv) In 2016, Dezhou Yarui entered into a related party pledged loan with Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (“Dezhou Jingtai”). The loan was originally due on October 31, 2026. While in March 2022, pursuant to the loan agreement, this related party filed in court to request the Company to repay the loan in advance. As a result, in April 2022, the Company reached a settlement agreement with this related party. Pursuant to the settlement agreement, the outstanding balance of US$4,750,771 (RMB33,730,000) will bear an annual interest rate of 4.9% and will be repaid through four installments, with each payment amount of US$1,187,693 (RMB8,432,498) on and before August 1, 2024. As of the March 24, 2023, the Company partially paid the first installment, which is due on February 1, 2023. In August 2023, Dezhou Yarui further entered a loan agreement with Dezhou Jingtai to settle remaining payment due. The following table illustrates the carrying amount of the loan and the machine and equipment pledged by the Company to secure the borrowings as of December 31, 2023 and December 31, 2022. (v) In August and October 2023, Shandong Baoya entered two loans with Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd. The loans are bearing an interest rate of 10%. The total loans were US$563 thousand (RMB 4,000 thousand), in which the due date of US$423 thousand (RMB 3,000 thousand) was December 31, 2023. The Company has signed the agreement in January 2024 to extend the due date by six months. The due date of the remaining US$141 thousand (RMB 1,000 thousand) is extended from April 24, 2024 to October 23, 2024, and the interest rate is decreased from 10% to 8%. (vi) In August and September 2023, Shandong Baoya entered two loans with Jinan Haiyun Investment Consulting Co., Ltd. The loans bear an interest rate of 10%. The total loans were US$1408 thousand (RMB 10,000 thousand), in which the due dates were August 22, 2024 and September 24, 2024, respectively (the interest rate is updated to 8%). December 31, 2023 December 31, 2022 US$’000 US$’000 Collateralized by the FAW Jilin factory and land use right with the carrying value of US$ 64,942 461,080 71,312 491,909 49,297 50,740 It is collateralized by the machinery and equipment, mold and tooling, other logistic equipment of FAW Jilin with carrying value of USD 25,702 182,485 39,108 269,767 97,870 100,736 Collateralized by the machinery and equipment 97,870 100,736 Credit loan, no collateralized items. 15,014 15,454 Total 162,181 166,930 Loans attributable to related parties 162,181 166,930 Maturity date The loans will mature gradually from 11/1/2022 to 11/1/2025 Interest Rate and default rate The loans bear an annual interest rate of 3.915 5.0895 Interest expense The interest expenses were US$ 7,510 53,126 7,240 48,773 7,295 46,365 (iv) In 2016, Dezhou Yarui entered into a related party pledged loan with Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (“Dezhou Jingtai”). The loan was originally due on October 31, 2026. While in March 2022, pursuant to the loan agreement, this related party filed in court to request the Company to repay the loan in advance. As a result, in April 2022, the Company reached a settlement agreement with this related party. Pursuant to the settlement agreement, the outstanding balance of US$ 4,750,771 33,730,000 4.9 1,187,693 8,432,498 December 31, 2023 December 31, 2022 US$’000 US$’000 Collateralized by buildings, machinery and equipment, land use right of Dezhou Yarui. The carrying amounts of machinery and equipment pledged to secure the borrowings as of December 31, 2023 and 2022 were US$ 586 4,159 844 5,821 1,780 12,640 nil 3,906 4,890 Collateralized amount 3,906 4,890 Maturity date The outstanding balance will be repaid through 4 installments, which due date are 4 installments start from February 1, 2023 and ends on August 1, 2024 Interest Rate The loans bear an annual interest rate of 4.9 Interest expense (One loan thus no weighted average rate) The interest expenses were US$ 203 1,437 245 1,653 256 1,627 Others For the year ended December 31,2023, the Company has paid US$ 848 6,000 (v) In August and October 2023, Shandong Baoya entered two loans with Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd. The loans are bearing an interest rate of 10 563 4,000 423 3,000 141 1,000 April 24, 2024 to October 23, 2024 10 8 (vi) In August and September 2023, Shandong Baoya entered two loans with Jinan Haiyun Investment Consulting Co., Ltd. The loans bear an interest rate of 10 1408 10,000 August 22, 2024 September 24, 2024 8 (d) The following table consists of the number of shares and the total amount of compensation to independent directors: SCHEDULE OF COMPENSATION TO RELATED PARTIES Compensation Issued shares Compensation Cash December 31, 2023 Issued shares Cash US$’000 John Chiang 5,000 $ 37.5 Simon Pang 5,000 $ 37.5 Wen Li 5,000 $ 37.5 Ying Liu 5,000 $ 37.5 Total 20,000 $ 150 The Company appointed four independent directors and offered each of the director a compensation amounting to USD$ 100 50 50 25 25 5,000 5,000 10 200 60

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	23. COMMITMENTS AND CONTINGENCIES Commitments (a) Capital commitments As of December 31, 2023, the Company had several capital commitments with a total contract amount of US$ 29,429 208,946 23,601 167,563 (b) Parts purchase commitment During the year ended December 31, 2023, the Company entered into various trial production and development agreements for a total of US$ 10,196 72,393 As of the year ended December 31, 2023, the Company had various agreements with various suppliers for production and development. The balance of contractual commitment was approximately US$ 6,029 42,804 25,700 177,300 Contingencies (a) Legal proceedings The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company reviews the need for any such liability on a regular basis. FAW Jilin was subject to ongoing legal proceedings arising from disputes of contracts entered into prior to the Company’s acquisition of FAW Jilin in December 2019. These legal proceedings include the CO23 and other models in FAW Jilin’s EOP project. In recent years, there have been several litigations arising from the Company not being able to complete the agreed-upon payments for the auto molding that have not been produced for a long time, as well as not being able to fulfill certain settlement agreements arising from the corporate reorganization that entered from 2020 up to today. As of December 31, 2023, most of these legal proceedings were settled. The settlement amounts were either paid or accrued in the relative liability accounts as of December 31, 2023 and 2022. The unpaid contract amounts that the Company assumed from FAW Jilin Acquisition were included in the Company’s assets and liabilities. The Company has recorded any material accrual for expected loss payments with respect to these cases as of December 31, 2023 and 2022. In addition to the indemnification of the Retained Assets and Liabilities the Company obtained from China FAW Group Corporation (“FAW Group”), FAW Group also agreed in the FAW Jilin Acquisition Agreement that, it will indemnify damages and loss arising from the following case: In 2017, FAW Jilin’s three independent dealers in Beijing have been fined a total of US$ 5,350 34,000 153 1,115 In March 2023, one unrelated third party, who is the holder of accounts payable of FAW Jilin’s mold suppliers filed a lawsuit in district court against FAW Jilin, claiming FAW Jilin failed to pay the outstanding bills, in the amount of approximately US$ 1,819 12,547 The Company is subject to legal proceedings and regulatory actions in the ordinary course of business, such as disputes with landlords, suppliers, employees, etc. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any of such matters will have a material adverse effect on the consolidated balance sheets, comprehensive loss, or cash flows on an individual basis or in the aggregate. As of December 31, 2023 and 2022, other than as disclosed above, the Company is not a party to any material legal or administrative proceedings.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	24. SUBSEQUENT EVENT The Company has evaluated subsequent events and transactions that occurred after the balance sheet date through the date the financial statements were issued, with no material events or transactions needing recognition or disclosure found.

CONDENSED FINANCIAL INFORMATION

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY	25. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY Pursuant to the requirements of Rule 12-04(a), 5-04(c) and 4-08(e)(3) of Regulation S-X, the condensed financial information of the parent company shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with such requirement and concluded that it was applicable to the Company as the restricted net assets of the Company’s PRC subsidiary exceeded 25% of the consolidated net assets of the Company, therefore, the condensed financial statements for the parent company are included herein. For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the Company’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries. For the parent company, the Company records its investments in subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments – Equity Method and Joint Ventures. Such investment is presented on the condensed balance sheets as “Investment in subsidiaries” and the respective profit or loss as “Equity in earnings of subsidiaries” on the condensed statements of operations. The Company did not pay any dividend for the periods presented. As of December 31, 2023 and 2022, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any. As of December 31, 2023 and 2022, the parent company’s share of losses of an investee exceeds the carrying amount of an investment accounted for by the equity method. As a result, the parent company discontinued applying the equity method in accordance with ASC 323-10-35-20. On June 1, 2023, the Company consummated the business combination and Chijet Motor has become the parent company of Chijet (Note 1(b)). The condensed financial information for the year ended December 31, 2023 was prepared with Chijet Motor as the parent company. And for the years ended December 31, 2022 and 2021, the condensed financial information was prepared with Chijet Inc., as the parent company. PARENT COMPANY CONDENSED BALANCE SHEETS (Amounts in thousands of US$, except for number of shares and per share data) SCHEDULE OF PARENT COMPANY CONDENSED BALANCE SHEETS December 31, 2023 December 31, 2022 ASSETS Current assets Cash and cash equivalents $ 48 $ 23 Other current assets 8,765 - Other current assets from related parties 60 - Other current assets 8,765 - Promissory Notes receivable - 1,380 Total current assets 8,873 1,403 Total assets $ 8,873 $ 1,403 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities Amounts due to related parties $ - $ 8 Accruals and other current liabilities to related parties 50 - Promissory Notes receivable - 1,380 Accruals and other current liabilities 5,274 - Total current liabilities 5,324 1,388 Total liabilities 5,324 1,388 Shareholders’ Equity Ordinary share - 27 Additional paid-in capital 30,041 - Accumulated deficit (26,492 ) (12 ) Total shareholders’ equity 3,549 15 Total liabilities and shareholders’ equity $ 8,873 $ 1,403 PARENT COMPANY CONDENSED STATEMENTS OF OPERATIONS (Amounts in thousands of US$, except for number of shares and per share data) SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF OPERATION For the year ended For the year ended For the year ended December 31, 2023 December 31, 2022 December 31, Revenues $ - $ - $ - Cost of revenues - - - Gross loss - - - Operating expenses: Selling, general and administrative 3,592 577 8 Total operating expenses 3,592 577 8 Loss from operations (3,592 ) (577 ) (8 ) Other income - 600 - Interest income - - - Total other income, net - 600 - (Loss) income from operations before income taxes (3,592 ) 23 (8 ) Provision for income tax benefits (expenses) - - - Net (loss) income (3,592 ) 23 (8 ) Other comprehensive income (loss) - - - Comprehensive (loss) income $ (3,592 ) $ 23 $ (8 ) PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS (Amounts in thousands of US$, except for number of shares and per share data) SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS For the year ended For the year ended For the year ended December 31, 2023 December 31, 2022 December 31, Cash flows from operating activities Net (loss) income $ (3,592 ) $ 23 $ (8 ) Adjustments to reconcile net (loss) income to net cash used in operating activities: Share-based compensation expenses 3,171 - - Changes in operating assets and liabilities: Amounts due from related party (90 ) - - Amounts due to related party - - 8 Other current assets from related parties (60 ) - - Accrual and other current liabilities 136 - - Accruals and other current liabilities to related parties 50 - - Accrual and other current liabilities 136 - - Other liabilities 83 - - Net cash (used in) provided by operating activities (302 ) 23 - Cash flows from investing activities: Issuance of Promissory Notes receivable - (1,380 ) - Net cash used in investing activities - (1,380 ) - Cash flows from financing activities: Proceeds from Promissory Notes Payable - 1,380 - Proceeds from exercise of warrants 600 - - Payments for reverse recapitalization and ordinary shares issuance costs (250 ) - - Net cash provided by financing activities 350 1,380 - Net change in cash, cash equivalents, and restricted cash 48 23 - Cash, cash equivalents, and restricted cash, beginning of period - - - Cash, cash equivalents, and restricted cash, end of period $ 48 $ 23 $ - SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid for interest $ - $ - $ - Cash paid for taxes $ - $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP to reflect the financial position and results of operations of the Company. Significant accounting policies followed by the Company in the preparation of its accompanying consolidated financial statements are summarized below. Emerging Growth Company Status The Company is an “emerging growth company”, as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Principles of consolidation	(b) Principles of consolidation The accompanying consolidated financial statements include the financial statements of Chijet Motor and its subsidiaries. A subsidiary is an entity in which Chijet Motor, directly or indirectly, controls more than one half of the voting power (a) to appoint or remove the majority of the members of the board of directors (the “Board”), (b) to cast majority of votes at the meeting of the Board or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. All inter-company transactions and balances between Chijet Motor and its subsidiaries have been eliminated in consolidation.
Use of estimates	(c) Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the balance sheet date, and the reported amounts of revenues and expenses during the reporting period in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s consolidated financial statements primarily include, but are not limited to, the fair value of the net assets of acquired subsidiaries, the determination of performance obligations, the determination of warranty cost, lower of cost and net realizable value of inventory, assessment for impairment of long-lived assets and intangible assets, recoverability of receivables as well as valuation of deferred tax assets, and other contingencies. Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.
Functional currency and foreign currency translation	(d) Functional currency and foreign currency translation The Company’s reporting currency is the United States dollars (“US$”). The functional currency of the Company and its subsidiaries which is incorporated in places other than Chinese Mainland is United States dollars. The functional currencies of the other subsidiaries are their respective local currencies (“RMB”). The determination of the respective functional currency is based on the criteria set out by Accounting Standards Codification (“ASC”) 830, Foreign Currency Matters. Transactions denominated in foreign currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the applicable exchange rates at the balance sheet date. Non-monetary items that are measured in terms of historical cost in foreign currency are measured using the exchange rates at the dates of the initial transactions. Exchange gains or losses arising from foreign currency transactions are included in the consolidated statements of comprehensive loss. The financial statements of Chijet’s entities of which the functional currency is not US$ are translated from their respective functional currency into US$. Assets and liabilities denominated in foreign currencies are translated into US$ at the exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into US$ at the appropriate historical rates. Income and expense items are translated into US$ using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in other comprehensive income or loss in the consolidated statements of comprehensive loss, and the accumulated currency translation adjustments are presented as a component of accumulated other comprehensive income or loss in the consolidated statements of changes in shareholders’ equity (deficit).
Fair value of financial instruments	(e) Fair value of financial instruments Fair value is the price we would receive to sell an asset or pay to transfer a liability (exit price) in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be either recorded or disclosed at fair value, the Company considers the principal or most advantageous market in which it would transact, and it also considers assumptions that market participants would use when pricing the asset or liability. The Company applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This guidance specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows: Level I — Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured. Level II — Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level II valuation techniques. Level III — Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. When available, the Company uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Company will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. Financial assets and liabilities of the Company primarily consist of cash and cash equivalents, restricted cash, accounts and notes receivable, amounts due from related parties, accounts and notes payable, loans attributable to related parties, promissory note payable, accruals and other current liabilities, long-term payables. As of December 31, 2023 and 2022, the carrying values of these financial instruments approximated to their respective fair values.
Cash and cash equivalents	(f) Cash and cash equivalents Cash and cash equivalents primarily consist of cash and demand deposits which are highly liquid. The Company considers highly liquid investments that are readily convertible to known amounts of cash and with original maturities from the date of purchase of three months or less to be cash equivalents. All cash and cash equivalents are unrestricted as to withdrawal and use.
Restricted cash	(g) Restricted cash Restricted cash represents (a) the cash frozen relating to the court order; (b) the deposits held in designated bank accounts for security of the repayment of the notes payable. The restricted cash attributable to the court order primarily resulted from the legal proceeding related to the contract dispute. As of December 31, 2023 and 2022, the restricted cash amounted to approximate US$ 1,378 12,105 The restricted cash is presented separately on the consolidated balance sheets as follows: SCHEDULE OF RESTRICTED CASH December 31, 2023 December 31, US$’000 US$’000 Frozen amount 1,378 1,463 Security amount - 10,642 Total restricted cash 1,378 12,105
Current expected credit losses	(h) Current expected credit losses On January 1, 2023, the Company adopted Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), using the modified retrospective transition method. The Company’s accounts and notes receivable, amounts due from related parties and other current assets are within the scope of ASC Topic 326. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and the Company’s customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company estimates allowance for credit losses for the anticipation of future economic condition and credit risk indicators of customers. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. In the event the Company recovers amounts previously reserved for, the Company will reduce the specific allowance for credit losses. The cumulative effect from the adoption as of January 1, 2023 was immaterial to the consolidated financial statements. The following table summarizes the activity in the allowance for expected credit loss of other current assets for the year ended December 31, 2023. SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS For the Year Ended December 31, 2023 US$’000 Balance as of December 31, 2022 - Adoption of ASC Topic 326 73 Balance as of January 1, 2023 73 Balance 73 Current period provision 56 Write-offs - Balance as of December 31, 2023 129 Balance 129
Inventory	(i) Inventory Inventories are stated at the lower of cost or net realizable value. Cost is calculated on the weighted average basis and includes all costs to acquire and other costs to bring the inventories to their present location and condition. The Company records inventory write-downs for excess or obsolete inventories based upon assumptions on current and future demand forecasts. If the inventory on hand is in excess of future demand forecast, the excess amounts are written off. The Company also reviews inventory to determine whether its carrying value exceeds the net amount realizable upon the ultimate sale of the inventory. This requires the determination of the estimated selling price of the vehicles less the estimated cost to convert inventory on hand into a finished product. Once inventory is written-down, a new, lower-cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.
Property, plant and equipment, net	(j) Property, plant and equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any. Property, plant and equipment are depreciated primarily using the straight-line method over the estimated useful life of the asset. Salvage value rate is determined to 0 5 SCHEDULE OF ESTIMATED USEFUL LIFE Estimated useful lives Buildings 20 Machinery and equipment 3 25 Vehicles 4 5 Computer and electronic equipment 2 5 Mold and tooling 1 13 The cost of maintenance and repairs is expensed as incurred, whereas the cost of renewals and betterment that extends the useful lives of property, plant and equipment is capitalized as additions to the related assets. Construction in progress represents property, plant and equipment under construction and pending installation and is stated at cost less accumulated impairment losses, if any. Completed assets are transferred to their respective asset classes and depreciation begins when an asset is ready for its intended use. Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest expense on construction-in-progress is included within property, plant and equipment and is amortized over the life of the related assets. The gain or loss on the disposal of property, plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statement of comprehensive loss. The gain on the disposal of property was approximate US$ 287 13 11
Intangible assets, net	(k) Intangible assets, net Intangible assets mainly consist of computer software, patent, trademark and manufacturing license. Intangible assets with finite lives are carried at acquisition cost less accumulated amortization and impairment, if any. Finite lived intangible assets are tested for impairment if impairment indicators arise. Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below: SCHEDULE OF AMORTIZATION OF INTANGIBLE ASSETS Estimated useful lives Patent 5 10 Computer software 2 10 The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives have changed. Intangible assets that have indefinite useful life are automotive manufacturing permission and trademark as of December 31, 2023 and December 31, 2022. The Company evaluates indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support indefinite useful lives. The value of indefinite-lived intangible assets is not amortized, but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. As such, no
Land use rights, net	(l) Land use rights, net Land use rights represent lease prepayments to the local government authorities. Upon the adoption of ASC 842, Leases
Long-term investments	(m) Long-term investments Long-term investments are comprised of investment in Jilin FAW Baosteel Auto Steel Parts Co., Ltd. (“Baosteel”) amounting to approximate US$ 3,699 4,370 30 20 The Company uses the equity method of accounting for its investment in, and earning or loss of, the companies that it does not control but over which it has ability to exercise significant influence in accordance with ASC topic 323, Investment—Equity Method and Joint Ventures (“ASC 323”). Under the equity method, the Company initially records its investment at cost and is included in the long-term investments on the consolidated balance sheets. The Company subsequently adjusts the carrying amount of the investment to recognize the Company’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment. If an equity investment no longer qualifies to be accounted for under the equity method, the investment’s initial basis for which subsequent changes in value are measured should be the previous carrying amount of the investment. The Company periodically reviews its equity investment for impairment. Under the equity method of accounting, an impairment loss would be recorded whenever the fair value of an equity investment is determined to be below its carrying value. The Company considers whether the fair value of its equity method investment has declined below its carrying value whenever adverse events or changes in circumstances indicate that recorded value may not be recoverable. An impairment charge would be recorded when the decline in value is determined to be other-than-temporary. There was no impairment loss of long-term investment during the years ended December 31, 2023, 2022 and 2021.
Goodwill	(n) Goodwill Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling interests and any fair value of the Company’s previously held equity interests in the acquiree over the identifiable net assets acquired and liabilities assumed. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognized in profit or loss as a gain on bargain purchase. The Company adopted Accounting Standards Update (“ASU”) 2017-04, Intangible – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. After adopting this guidance, the Company performs the quantitative impairment test by comparing the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, the amount by which the carrying amount exceeds the reporting unit’s fair value is recognized as impairment. Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, allocation of assets, liabilities and goodwill to reporting units, and determination of the fair value of each reporting unit.
Impairment of long-lived assets	(o) Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will affect the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company firstly determine the unit of account for testing long-lived assets, and then identify the indicators of impairment. When indicators of impairment present, the company must then proceed to recoverability test. Recoverability test evaluates the impairment by comparing carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. Fair value is determined using anticipated cash flows discounted at a rate commensurate with the risk involved. Impairment charges recognized for the years ended December 31, 2023, 2022 and 2021 was US$ 283 842 6,054
Warranties	(p) Warranties The Company provides a manufacturer’s standard warranty on all vehicles sold. The Company accrues a warranty reserve for the vehicles sold by the Company, which includes the Company’s best estimate of the projected costs to repair or replace items under warranties and recalls when identified. These estimates are based on actual claims incurred to date and an estimate of the nature, frequency and costs of future claims. Changes to the Company’s historical or projected warranty experience may cause material changes to the warranty reserve in the future. The portion of the warranty reserve expected to be incurred within the next 12 months is included within accruals and other liabilities, while the remaining balance is included within other non-current liabilities on the consolidated balance sheets. Warranty expense is recorded as a component of cost of sales in the consolidated statements of operations. The Company reevaluates the adequacy of the warranty accrual on a regular basis. The Company considers the standard warranty is not providing incremental service to customers rather an assurance to the quality of the vehicle, and therefore is not a separate performance obligation and should be accounted for in accordance with ASC 460, Guarantees. Accrued warranty is included in other liabilities and the movement of accrued warranty is as following: SCHEDULE OF ACCRUED WARRANTY December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Accrued warranty - beginning of year 319 290 1,202 Warranty costs incurred (106 ) (89 ) (989 ) Provision for warranty - 86 131 Translation adjustment (9 ) 32 (54 ) Accrued warranty - end of year 204 319 290
Revenue recognition	(q) Revenue recognition Revenue is recognized when or as the control of the goods or services is transferred upon delivery to customers. Depending on the terms of the contract and the laws that apply to the contract, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if our performance: ● provides all of the benefits received and consumed simultaneously by the customer; ● creates and enhances an asset that the customer controls as the Company performs; or ● does not create an asset with an alternative use to the Company and the Company have an enforceable right to payment for performance completed to date. If control of the goods and services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of the performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of goods and services. Contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates overall contract price to each distinct performance obligation based on its relative standalone selling price in accordance with ASC 606, Revenue from Contracts with Customers For new Master Service Agreements (“MSA”) or for Purchase Orders (“PO”) from new customers, a credit check is required, which establishes collectability of the considerations to which the Company expects to be entitled. Management also has controls in place for the review of credit limits with existing customers. Other considerations in determining collectability include the customer’s payment history, prior or existing customer disputes, if any, and market conditions. When either party to a contract has performed, the Company presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A receivable is recorded when the Company has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. If a customer pays consideration or the Company has a right to an amount of consideration that is unconditional, before the Company transfers a good or service to the customer, the Company presents the contract liability when the payment is made or a receivable is recorded, whichever is earlier. A contract liability is the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration, or an amount of consideration is due, from the customer. The Company’s contract liabilities are primarily resulted from the performance obligation identified in the vehicle sales contract, which is recorded as deferred revenue and revenue will be recognized when future goods or services are transferred. Besides, amounts received on behalf of third parties are recorded as other current liabilities. Vehicle Sales Vehicle sales revenue includes revenues related to deliveries of new vehicles under the definition of a performance obligation under ASC 606. The Company recognizes revenue on vehicle sales upon delivery to the customer, which is when the control of a vehicle transfers. For the obligations related to the vehicle sales, the Company estimates the standalone selling price by considering costs used to develop and deliver the service, third-party pricing of similar options and other information that may be available. The Company provides a manufacturer’s limited warranty on all new vehicles sold to the customers, ensuring that the vehicles comply with agreed-upon specifications. As the manufacturer’s limited warranty is not separately sold to the customers, the Company does not consider the warranty as a separate performance obligation under the ASC 606-10-55-31. Sales of vehicle parts and accessories The Company recognizes revenue upon transfer of control to the customer which occurs at a point in time. When the Company performs shipping and handling activities after the transfer of control to the customer, they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Practical expedients and exemptions The Company follows the guidance on immaterial promises when identifying performance obligations in the vehicle sales contracts and concludes that labor related to assurance-type warranties is not a performance obligation considering this service is value-added service to enhance customer experience rather than critical items for vehicle driving and forecasted that usage of this service will be very limited. The Company also performs an estimation on the stand-alone fair value of the promise applying a cost-plus margin approach and concludes that the standalone fair value of foresaid service is insignificant, representing less than 5% of vehicle gross selling price and aggregate fair value of each individual promise. Revenue consists of the following: SCHEDULE OF REVENUE Related Parties Third Parties Related Parties Third Parties Related Parties Third Parties For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Related Parties Third Parties Related Parties Third Parties Related Parties Third Parties Vehicle sales $ 713 $ 6,967 $ 3,722 $ 7,908 $ 6,887 $ 5,395 Sales of vehicle parts and accessories $ 1,690 $ 113 $ 3,086 $ 145 $ 8,393 $ 1,528 Others $ - $ - $ 100 $ - $ 3 $ 97 Total revenues 2,403 7,080 6,908 8,053 15,283 7,020 All of the property and equipment of the Company are physically located in the PRC. The geographical location of customers is based on the location at which the customers operate and all of the Company’s revenue is derived from operations in the PRC for the years ended December 31, 2023, 2022 and 2021.
Cost of revenues	(r) Cost of revenues Cost of revenue includes direct parts, material, labor cost and manufacturing overhead (including depreciation of assets associated with the production) and reserves for estimated warranty cost. Cost of revenue also includes charges to write-down the carrying value of the inventories when it exceeds its estimated net realizable value and to provide for on-hand inventories that are either obsolete or in excess of forecasted demand.
Cost of revenues – idle capacity	(s) Cost of revenues – idle capacity Idle capacity consists of production-related costs in excess of charges allocated to the Company’s finished goods in production. The costs include direct and indirect labor, production supplies, repairs and maintenance, rent, utilities, insurance and property taxes. The costs allocated to the Company’s finished goods are determined on a daily basis which is lower than its actual costs incurred. Costs in excess of production allocations are expensed in the period incurred rather than added to the cost of finished goods produced. Idle capacity expenses amounted to US$ 26,951 34,001 23,342
Research and development expenses	(t) Research and development expenses All costs associated with research and development (“R&D”) are expensed as incurred. R&D expenses consist primarily of employee compensation for those employees engaged in R&D activities, design and development expenses with new technology, materials and supplies and other R&D related expenses. For the years ended December 31, 2023, 2022 and 2021, R&D expenses were US$ 8,398 13,772 15,420
Selling, general and administrative expenses	(u) Selling, general and administrative expenses Sales and marketing expenses consist primarily of employee compensation, transportation cost, and packaging fee. Selling costs are expensed as incurred. For the years ended December 31, 2023, 2022 and 2021, total sales and marketing expenses were US$ 1,590 2,012 1,864 General and administrative expenses consist primarily of employee compensation for employees involved in general corporate functions and those not specifically dedicated to R&D activities, share-based compensation, depreciation and amortization expenses, legal, and other professional services fees, lease and other general corporate related expenses. For the years ended December 31, 2023, 2022 and 2021, general and administrative expenses were US$ 45,691 63,312 48,577
Employee benefits	(v) Employee benefits Full-time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, work-related injury benefits, maternity insurance, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Company’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately US$ 5,118 5,824 7,276
Government grants	(w) Government grants The Company’s PRC based subsidiaries received government subsidies from certain local governments. The Company’s government subsidies consist of specific subsidies. Specific subsidies are subsidies which are provided by the local government for a specific purpose, such as land fulfillment costs and production and capacity subsidies related to the manufacturing plant construction. The Company recognizes government subsidies until there is reasonable assurance that the Company will comply with conditions attaching to them and the grants will be received. Hence, the Company recorded specific subsidies as other non-current liabilities when received and the specific subsidies are recognized as other income at each stage when the Company is entitled to the amount or the required performance is met. The Company currently recognizes government subsidies 1) using a systematic basis over the periods in which the entity recognizes the related expenses or losses that the grants are intended to compensate and 2) when the grant becomes receivable if it compensates for expenses or losses already incurred. For the years ended December 31, 2023, 2022 and 2021, the Company has recognized subsidies of approximately US$ 3,748 26,514 19,467 131,145 80,995 522,652 See below for the nature of each government subsidy received and the related accounting treatment: SCHEDULE OF GOVERNMENT SUBSIDY No. US$’000 Type of Subsidies Accounting Treatment For the year ended December 31, 2023 No. US$’000 Type of Subsidies Accounting Treatment 1 3,270 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 478 Subsidies related to fixed assets The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate. TOTAL 3,748 No. US$’000 Type of Subsidies Accounting Treatment For the year ended December 31, 2022 No. US$’000 Type of Subsidies Accounting Treatment 1 18,843 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 624 Subsidies related to fixed assets The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate. TOTAL 19,467 No. US$’000 Type of Subsidies Accounting Treatment For the year ended December 31, 2021 No. US$’000 Type of Subsidies Accounting Treatment 1 4,243 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 652 Subsidies related to fixed assets The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate. 3 60,603 Loan forgiveness The Company recognizes government subsidies as government grant income when the principal and interest amounts are officially forgiven after complying with the conditions attaching to the subsidies. 4 15,497 Investment promotion subsidy The government subsidy is recognized as government grant income when the amounts are received and conditions are met. TOTAL 80,995
Income taxes	(x) Income taxes Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. The Company accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Tax Uncertain tax positions An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. Interest and penalties related to uncertain tax positions, if any, are recorded under accrued expenses and other current liabilities on its consolidated balance sheets and under other expenses in its consolidated statements of operations. The Company did not recognize any significant interest and penalties associated with uncertain tax positions for the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023 and 2022, the Company did not have any significant unrecognized uncertain tax positions.
Warrants	(y) Warrants The Company classifies as equity any contracts that (i) require physical settlement or net-share settlement or (ii) gives the Company a choice of net-cash settlement or settlement in its own shares. The Company classifies as liabilities any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares. The Company accounts for its currently issued warrants in conjunction with the Company’s ordinary shares in equity. These warrants are indexed to the Company’s stock and meet the requirements of equity classification as prescribed under ASC 815-40. Warrants classified as equity are initially measured at fair value, and subsequent changes in fair value are not recognized so long as the warrants continue to be classified as equity. The details for warrants are disclosed in note 20(a).
Value-added tax	(z) Value-added tax The Company is subject to statutory value-added tax (“VAT”) of 13 6 9
Statutory reserves	(aa) Statutory reserves The Group’s subsidiaries established in the PRC are required to make appropriations to certain non-distributable reserve funds. In accordance with the laws applicable to PRC’s Foreign Investment Enterprises, the Group’s subsidiaries registered as wholly owned foreign enterprises have to make appropriations from its after-tax profit (as determined under the Accounting Standards for Business Enterprises as promulgated by the Ministry of Finance of the People’s Republic of China (“PRC GAAP”) to reserve funds including general reserve fund, and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the after-tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the company. Appropriation to the staff bonus and welfare fund is at the Company’s discretion. The use of the general reserve fund, statutory surplus fund and discretionary surplus fund is restricted to the offsetting of losses or increasing capital of the respective company. The staff bonus and welfare fund is a liability in nature and is restricted to fund payments of special bonus to staff and for the collective welfare of employees. No reserves are allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor can they be distributed except under liquidation. For the years ended December 31, 2023, 2022 and 2021, appropriations to the general reserve fund and the statutory surplus fund amounted to nil nil 4,968
Comprehensive income (loss)	(bb) Comprehensive income (loss) The Company applies ASC 220, Comprehensive Income, with respect to reporting and presentation of comprehensive loss and its components in a full set of financial statements. Comprehensive loss is defined to include all changes in equity of the Company during a period arising from transactions and other events and circumstances except those resulting from investments by shareholders and distributions to shareholders. For the periods presented, the Company’s comprehensive loss includes net loss and other comprehensive loss, which primarily consists of the foreign currency translation adjustments and actuarial loss arising from changes in financial assumptions on the Company’s defined contribution plan that has been excluded from the determination of net loss.
Leases	(cc) Leases Operating lease The Company adopted the ASC 842, Leases The Company includes a right-of-use asset and lease liability related to substantially all of the Company’s lease arrangements in the consolidated balance sheets. All of the Company’s leases are operating leases. As the existing operating leases are short-term lease, right-of-use assets and the corresponding lease liabilities are nil and nil in the consolidated balance sheets as of December 31, 2023 and December 31, 2022, respectively. The Company has elected not to present short-term leases on the consolidated balance sheets as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Company is reasonably certain to exercise. The Company recognizes lease expenses for such short-term lease generally on a straight-line basis over the lease term. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit rate of return, the Company uses the Company’s incremental borrowing rate based on the information available at adoption date or lease commencement date in determining the present value of lease payments. The land use right (Note 2 (l),10) acquired represents lease prepayments to the local government authorities which is separately presented in the consolidated balance sheets. The Company determines the land use right agreement contains an operating lease. Land use right is carried at cost less accumulated amortization and impairment losses.
Earnings (losses) per share	(dd) Earnings (losses) per share Basic earnings (losses) per share is computed by dividing net income (loss) attributable to holders of ordinary shares by the weighted-average ordinary shares outstanding for the period. Potentially dilutive shares, which are based on the weighted-average ordinary shares underlying outstanding stock-based awards, warrants, or options using the treasury stock method or the if-converted method, if applicable, are included when calculating diluted net earnings (loss) per share attributable to holders of ordinary shares when their effect is dilutive. Since the Company has incurred losses for the years ended December 31, 2023, 2022 and 2021, the potential shares issuable related to outstanding warrants have been excluded from the calculation of diluted loss per share as the effect of such shares is anti-dilutive. Therefore, basic and diluted loss per share amounts is the same for each period presented. Earnout/Contingent Value Rights Pursuant to the BCA, 64,084,889 674,000,000 (i) The first tranche (along with earnings thereon) shall (i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies (including the period prior to Closing) as set forth in Chijet Motor ‘s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2023 (as adjusted for a fixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate) in excess of US$528,000 thousand, up to a maximum of 100% of the first tranche at US$801,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the first tranche if the Chijet Motor Ordinary Shares on the applicable Trading Market is at least US$13.00 per share (as equitably adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for at least twenty (20) out of thirty (30) Trading Days, through and including the thirtieth (30th) Trading Day after the date on which Chijet Motor files its annual report with the SEC on Form 20-F or 10-K (such trading criteria being collectively the “Trading Criteria”), for the fiscal year ended December 31, 2023, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled. (ii) The second tranche (along with earnings thereon) will likewise either (i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies(including the period prior to Closing) as set forth in Chijet Motor’s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2024 (as adjusted for a fixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate)in excess of US$870,000 thousand, up to a maximum of 100% of the second tranche at US$2,206,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the second tranche based on meeting the Trading Criteria during the applicable period for the year ended December 31, 2024, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled. (iii) Any remaining Earnout Shares (along with earnings thereon) not vested or surrendered in the first or second tranches are eligible either to (i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies (including the period prior to Closing) as set forth in Chijet Motor’s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2025 (as adjusted for affixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate) in excess of US$1,616,000 thousand, up to a maximum of 100% of the final tranche at US$3,215,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the final tranche based on meeting the Trading Criteria during the applicable period for the year ended December 31, 2025, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled. Any Earnout Shares and earnings thereon that are surrendered to Chijet will be promptly reissued and delivered by Chijet to the CVR rights agent on behalf of the holders of the CVRs, to be distributed by the CVR rights agent pro rata among the holders of the CVRs. The accounting for the Earnout Shares was first evaluated under ASC 718 to determine if the arrangement represents a share-based payment. Considering that the Earnout Shares are issued to Chijet Inc. sellers, and there are no service conditions nor any requirement of the participants to provide goods or services, we determined that the Earnout Shares are not within the scope of ASC 718. In reaching this conclusion, we focused on the fact that the Earnout Shares are not provided to any holder of options or unvested stock but rather the arrangement is provided only to vested equity holders. Next, we determined that the Earnout Shares represent a freestanding equity-linked financial instrument to be evaluated under ASC 480. Based upon the analysis, we concluded that the Earnout Shares should not be classified as a liability under ASC 480. We next considered the conditions in ASC 815-10-15-74 and ASC 815-40 and concluded that the Earnout Shares are not within the scope of ASC 815. Therefore, the Earnout Share arrangement is appropriately classified in equity. As the business combination is accounted for as a reverse recapitalization, the fair value of the Earnout Share arrangement as of the Closing Date is accounted for as an equity transaction. Therefore, contingent value rights do not give any effect in calculation of the earnings per share as of December 31, 2023.
Segment reporting	(ee) Segment reporting The Company operates as one operating segment in accordance with ASC 280, Segment Reporting
Reclassification	(ff) Reclassification Certain prior periods amounts have been reclassified to be comparable to the current period presentation. These reclassifications have no effect on previously reported net assets or net income (loss).

ORGANIZATION (Tables)

ORGANIZATION (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF BUSINESS COMBINATION	SCHEDULE OF BUSINESS COMBINATION Shares Legacy Chijet Shares 152,130,300 JWAC’s public shares, net of redemption 1,300,705 JWAC public shares converted from (1/8) JWAC rights at closing 1,725,000 JWAC sponsor shares 3,450,000 Shares issued to private placed shareholders and rights, and share-based compensation 1,503,625 Exercise of Greentree warrants 250,000 Total shares of ordinary shares outstanding immediately after the Business Combination 160,359,630
SCHEDULE OF CONSUMMATION OF REVERSE RECAPITALIZATION	SCHEDULE OF CONSUMMATION OF REVERSE RECAPITALIZATION June 1, 2023 US$’000 Cash $ 13,680 Including repayment of extension note to Chijet Inc. (2,060 ) Accrued expenses (7,129 ) Bank charges (1 ) Net assets acquired by Chijet Motor as of June 1, 2023 $ 4,490
SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES	As of December 31, 2023, subsidiaries of Chijet Motor include the following: SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES Date of incorporation Place of incorporation Percentage of ownership Principal activities Subsidiaries Baoya New Energy (Shandong) Co., Ltd October 21, 2021 The PRC 100.00 % Investment holding Baoya New Energy Automobile Sale (Yantai) Co., Ltd. November 29, 2019 The PRC 93.92 % New energy vehicle sales Baoya New Energy Automobile R&D (Xiangyang) Co., Ltd. May 25, 2022 The PRC 85.17 % Research and development of new energy vehicles Baoya New Energy Automobile R&D Institution (Yantai) Co., Ltd. November 29, 2019 The PRC 85.17 % Research and development of new energy vehicles Baoya Technology Holdings Limited July 12, 2021 BVI 100.00 % Investment holding Baoyaev Group Limited July 28, 2021 Hong Kong 100.00 % Investment holding Bijie Yabei New Energy Automobile Co., Ltd. May 22, 2014 The PRC 85.17 % New energy vehicle manufacturing Chijet, Inc. July 6, 2021 Cayman Islands 100.00 % Investment holding Dezhou Yarui New Energy Automobile Co., Ltd. February 1, 2016 The PRC 65.23 % R&D and manufacturing of new energy vehicles Dezhou Yitu New Energy Automobile Co., Ltd. April 23, 2011 The PRC 86.43 % R&D and manufacturing of special electric vehicles Faw Jilin Automobile Co., Ltd. June 20, 1984 The PRC 60.05 % Commercial vehicles, passenger vehicles manufacturing Faw Jilin Automobile Sale Co., Ltd. June 23, 2021 The PRC 60.05 % Vehicle sales Jupiter Wellness Acquisition Corp. September 14, 2021 Delaware, US 100.00 % Investment holding Jixiang Automobile Service (Yantai) Co., Ltd. April 10, 2020 The PRC 85.17 % Sales and leasing of new energy vehicles Shandong Baoya New Energy Vehicle Co., Ltd April 14, 2009 The PRC 85.17 % New energy vehicle production and manufacturing Xiangyang Yazhi New Energy Automobile Co., Ltd. May 16, 2016 The PRC 85.17 % R&D and manufacturing of small new energy vehicles Xiangyang Yazhi New Energy Automobile Sale Co., Ltd. July 22, 2016 The PRC 85.17 % Sales of small new energy vehicles

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SCHEDULE OF RESTRICTED CASH	The restricted cash is presented separately on the consolidated balance sheets as follows: SCHEDULE OF RESTRICTED CASH December 31, 2023 December 31, US$’000 US$’000 Frozen amount 1,378 1,463 Security amount - 10,642 Total restricted cash 1,378 12,105
SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS	The following table summarizes the activity in the allowance for expected credit loss of other current assets for the year ended December 31, 2023. SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS For the Year Ended December 31, 2023 US$’000 Balance as of December 31, 2022 - Adoption of ASC Topic 326 73 Balance as of January 1, 2023 73 Balance 73 Current period provision 56 Write-offs - Balance as of December 31, 2023 129 Balance 129
SCHEDULE OF ESTIMATED USEFUL LIFE	SCHEDULE OF ESTIMATED USEFUL LIFE Estimated useful lives Buildings 20 Machinery and equipment 3 25 Vehicles 4 5 Computer and electronic equipment 2 5 Mold and tooling 1 13
SCHEDULE OF AMORTIZATION OF INTANGIBLE ASSETS	Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below: SCHEDULE OF AMORTIZATION OF INTANGIBLE ASSETS Estimated useful lives Patent 5 10 Computer software 2 10
SCHEDULE OF ACCRUED WARRANTY	Accrued warranty is included in other liabilities and the movement of accrued warranty is as following: SCHEDULE OF ACCRUED WARRANTY December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Accrued warranty - beginning of year 319 290 1,202 Warranty costs incurred (106 ) (89 ) (989 ) Provision for warranty - 86 131 Translation adjustment (9 ) 32 (54 ) Accrued warranty - end of year 204 319 290
SCHEDULE OF REVENUE	SCHEDULE OF REVENUE Related Parties Third Parties Related Parties Third Parties Related Parties Third Parties For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Related Parties Third Parties Related Parties Third Parties Related Parties Third Parties Vehicle sales $ 713 $ 6,967 $ 3,722 $ 7,908 $ 6,887 $ 5,395 Sales of vehicle parts and accessories $ 1,690 $ 113 $ 3,086 $ 145 $ 8,393 $ 1,528 Others $ - $ - $ 100 $ - $ 3 $ 97 Total revenues 2,403 7,080 6,908 8,053 15,283 7,020
SCHEDULE OF GOVERNMENT SUBSIDY	See below for the nature of each government subsidy received and the related accounting treatment: SCHEDULE OF GOVERNMENT SUBSIDY No. US$’000 Type of Subsidies Accounting Treatment For the year ended December 31, 2023 No. US$’000 Type of Subsidies Accounting Treatment 1 3,270 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 478 Subsidies related to fixed assets The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate. TOTAL 3,748 No. US$’000 Type of Subsidies Accounting Treatment For the year ended December 31, 2022 No. US$’000 Type of Subsidies Accounting Treatment 1 18,843 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 624 Subsidies related to fixed assets The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate. TOTAL 19,467 No. US$’000 Type of Subsidies Accounting Treatment For the year ended December 31, 2021 No. US$’000 Type of Subsidies Accounting Treatment 1 4,243 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 652 Subsidies related to fixed assets The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate. 3 60,603 Loan forgiveness The Company recognizes government subsidies as government grant income when the principal and interest amounts are officially forgiven after complying with the conditions attaching to the subsidies. 4 15,497 Investment promotion subsidy The government subsidy is recognized as government grant income when the amounts are received and conditions are met. TOTAL 80,995

ACCOUNTS AND NOTES RECEIVABLE_2

ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
SCHEDULE OF ACCOUNTS AND NOTES RECEIVABLE NET	Accounts and notes receivable and allowance for doubtful accounts consisted of the following: SCHEDULE OF ACCOUNTS AND NOTES RECEIVABLE NET December 31, 2023 December 31, 2022 US$’000 US$’000 Accounts receivable 20 17 Notes receivable 2,221 216 Less: allowance for credit losses - - Net accounts and notes receivable, net 2,241 233

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY NET	Inventory consisted of the following: SCHEDULE OF INVENTORY NET December 31, 2023 December 31, 2022 US$’000 US$’000 Finished goods 3,665 14,721 Raw materials 15,720 16,249 Work-in-process 7,517 9,503 Inventory, subtotal 26,902 40,473 Less: inventory impairment provision (12,117 ) (16,555 ) Inventory, net 14,785 23,918

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
SCHEDULE OF OTHER CURRENT ASSETS	Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS December 31, 2023 December 31, 2022 US$’000 US$’000 Prepayments for materials 7,509 16,372 Prepayments for R&D 110 698 Prepayments for utilities 571 596 Other prepayments 341 250 Deductible value-added tax input 207 630 Other receivable 1,662 250 Promissory note receivable - 1,380 Deferred cost - 2,959 Subtotal 10,400 23,135 Less: allowance for bad debts (449 ) (230 ) Net balance 9,951 22,905

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PLANT AND EQUIPMENT NET	Property, plant and equipment consisted of the following: SCHEDULE OF PLANT AND EQUIPMENT NET December 31, 2023 December 31, 2022 US$’000 US$’000 At cost: Buildings 169,170 174,120 Mold and tooling 101,563 127,345 Computer and electronic equipment 6,993 7,255 Machinery and equipment 263,587 275,369 Vehicles 1,204 1,668 Other logistic equipment 7,641 7,617 Construction in progress (i) 15,201 16,935 Property, plant and equipment, subtotal 565,359 610,309 Less: accumulated depreciation (ii) (380,090 ) (384,936 ) Less: accumulated impairment (iii) (3,892 ) (7,471 ) Property, plant and equipment, net (iv) 181,377 217,902 (i) Construction in progress primarily consists of the construction of Shandong Baoya, Xiangyang Yazhi New Energy Automobile Co., Ltd. (“Xiangyang Yazhi”), Dezhou Yarui New Energy Automobile Co., Ltd. (“Dezhou Yarui”) manufacturing plants and molds, toolings, machinery and equipment relating to the manufacturing. (ii) Depreciation expenses for the years ended December 31, 2023, 2022 and 2021 were US$ 31,354 thousand, US$ 41,217 thousand and US$ 50,780 thousand respectively. (iii) Impairment charges of US$ 283 thousand, US$ 842 thousand and US$ 6,054 were recognized for the years ended December 31,2023, 2022 and 2021, respectively. (iv) The carrying amounts of buildings, mold and tooling, machine and equipment and other logistic equipment pledged by the FAW Jilin to secure the borrowings as of December 31, 2023 and December 31, 2022 were US$ 58,584 76,536

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	Intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS December 31, 2023 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’000 US$’000 US$’000 Finite-lived intangible assets: Computer software 472 (439 ) 33 Patent 208 (208 ) - Total finite-lived intangible assets 680 (647 ) 33 Indefinite-lived intangible assets: Trademark and manufacturing license 127,378 - 127,378 Total indefinite-lived intangible assets 127,378 - 127,378 Total intangible assets 128,058 (647 ) 127,411 December 31, 2022 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’000 US$’000 US$’000 Finite-lived intangible assets: Computer software 487 (389 ) 98 Patent 214 (214 ) - Total finite-lived intangible assets 701 (603 ) 98 Indefinite-lived intangible assets: Trademark and manufacturing license 131,108 - 131,108 Total indefinite-lived intangible assets 131,108 - 131,108 Total intangible assets 131,809 (603 ) 131,206
SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE INTANGIBLE ASSETS	As of December 31, 2023, estimated amortization expense relating to the existing intangible assets with finite lives for future periods is as follows: SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE INTANGIBLE ASSETS US$’000 2024 29 2025 and thereafter 4 Total 33

LAND USE RIGHTS, NET (Tables)

LAND USE RIGHTS, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Land Use Rights Net
SCHEDULE OF LAND USE RIGHTS NET	Land use rights consisted of the following: SCHEDULE OF LAND USE RIGHTS NET December 31, 2023 December 31, 2022 US$’000 US$’000 Land use right 153,204 158,995 Less: accumulated amortization (27,055 ) (24,654 ) Land use right, net 126,149 134,341

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Operating Leases
SUPPLEMENTAL CASH FLOWS INFORMATION	Supplemental cash flows information related to leases were as follows: SUPPLEMENTAL CASH FLOWS INFORMATION For the year ended For the year ended For the year ended December 31, December 31, 2022 December 31, US$’000 US$’000 US$’000 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows payments for operating leases - 2,899 - Right-of-use assets obtained in exchange for lease liabilities: Right-of-use assets obtained in exchange for new operating lease liabilities - 354 -
SCHEDULE OF COST FOR OPERATING LEASES	The components of lease cost for operating leases were as follows: SCHEDULE OF COST FOR OPERATING LEASES US$’000 US$’000 US$’000 For the year ended For the year ended For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Operating lease cost - 398 - Short-term lease cost 1,357 1,168 4,581 Total lease cost 1,357 1,566 4,581

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES	SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES US$’000 RMB’000 Assets acquired: Cash and cash equivalents 235,165 1,645,169 Accounts and notes receivable 111,511 780,105 Other receivable 262 1,829 Inventory 30,766 215,232 Property, plant and equipment, net 273,142 1,910,844 Equity investment 4,773 33,391 Intangible assets 129,315 904,663 Land use right 87,970 615,419 Prepayments and other assets, current and non-current 53,820 376,512 Total assets acquired 926,724 6,483,164 Liabilities and equity assumed Short-term borrowing (28,589 ) (200,000 ) Accounts and notes payable (160,346 ) (1,121,745 ) Contract liabilities (11,904 ) (83,276 ) Accounts and other liabilities (20,830 ) (145,725 ) Long-term payables (249,417 ) (1,744,870 ) Accrued post-employment and termination benefits (73,634 ) (515,130 ) Other payable, current and non-current (81,749 ) (571,898 ) Noncontrolling interest (88,575 ) (619,653 ) Total liabilities and equity assumed (715,044 ) (5,002,297 ) Net assets acquired 211,680 1,480,867 Goodwill 2,735 19,133 Total purchase price 214,415 1,500,000
SCHEDULE OF CARRYING AMOUNT OF GOODWILL	Changes in the carrying amount of goodwill consisted of the following: SCHEDULE OF CARRYING AMOUNT OF GOODWILL December 31, 2023 December 31, 2022 US$’000 US$’000 Beginning balance 2,774 3,010 Addition during the period - - Impairment during the period - - Translation adjustment (79 ) (236 ) Goodwill 2,695 2,774

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER ASSETS	Other assets consisted of the following: SCHEDULE OF OTHER ASSETS December 31, 2023 December 31, 2022 US$’000 US$’000 Long-term deferred expenses 4,292 2,392 Total 4,292 2,392

ACCOUNTS AND NOTES PAYABLE (Tab

ACCOUNTS AND NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts And Notes Payable
SCHEDULE OF ACCOUNTS AND NOTES PAYABLE	Accounts and notes payable consisted of the following: SCHEDULE OF ACCOUNTS AND NOTES PAYABLE December 31, 2023 December 31, 2022 US$’000 US$’000 Accounts payable 14,824 18,218 Notes payable - 10,566 Total 14,824 28,784

CONTRACT LIABILITIES (Tables)

CONTRACT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Contract Liabilities
SCHEDULE OF CONTRACT LIABILITIES	SCHEDULE OF CONTRACT LIABILITIES December 31, 2023 December 31, 2022 US$’000 US$’000 Contract liabilities - beginning of year 3,654 6,254 A change in time frame for a performance obligation satisfied (11,747 ) (11,771 ) Advance received 13,205 9,612 Translation adjustment (104 ) (441 ) Contract liabilities - subtotal 5,008 3,654 Less: contract liabilities to related parties (2,483 ) (912 ) Contract liabilities - end of period 2,525 2,742

ACCRUALS AND OTHER CURRENT LI_2

ACCRUALS AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES	Accruals and other current liabilities consisted of the following: SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES December 31, 2023 December 31, 2022 US$’000 US$’000 Payroll payable 6,876 8,339 Accrued post-employment and termination benefits - current portion 8,809 9,338 Business and other taxes payable 456 585 Accrued expenses 18,362 18,029 Other payable secured by acceptance draft 3,525 216 Other payable 9,400 9,067 Total 47,428 45,574

ACCRUED POST-EMPLOYMENT AND T_2

ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
SCHEDULE OF ASSUMPTIONS USED FOR ACTUARIAL VALUATIONS	The principal assumptions used for the purposes of the actuarial valuations are as follows: SCHEDULE OF ASSUMPTIONS USED FOR ACTUARIAL VALUATIONS December 31, 2023 December 31, 2022 Discount rate 2.25 2.75 2.50 3.25 Mortality rate (2010-2013) - CL5/CL6 up 2 years Annual withdrawal rate 3.00 % 3.00 % Annual increase rate of supplemental medical benefits 6.00 % 6.00 % Annual increase rate of social insurance, housing fund and EAP 8.00 % 8.00 % * China Life Insurance Mortality Table (2010-2013)
SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS	Movements in the present value of the retirement and supplemental benefit obligations during the years ended December 31, 2023, 2022 and 2021 are as follows: SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Beginning of period 60,913 74,794 80,734 Service costs 65 65 60 Interest costs 1,353 1,663 2,202 Benefits paid (9,475 ) (10,606 ) (11,849 ) Actuarial loss arising from changes in financial assumptions 790 343 1,523 Past service costs 413 341 - Translation adjustment (1,709 ) (5,687 ) 2,124 End of period 52,350 60,913 74,794
SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATION IN CONSOLIDATED BALANCE SHEET	The amount of retirement and supplemental benefit obligations recognized in the consolidated balance sheets are determined as follows: SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATION IN CONSOLIDATED BALANCE SHEET December 31, 2023 December 31, 2022 US$’000 US$’000 End of period 52,350 60,913 Less: net amount due within one year (8,809 ) (9,338 ) Net amount due after one year 43,541 51,575
SCHEDULE OF CONSOLIDATED STATEMENTS OF OPERATIONS COMPONENTS	The following amounts were recorded in the consolidated statements of operations as components of the net periodic benefit cost: SCHEDULE OF CONSOLIDATED STATEMENTS OF OPERATIONS COMPONENTS For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Service costs 65 65 60 Interest costs 1,353 1,663 2,202 Amortization of actuarial losses 3 1 - Amortization of past service cost 27 27 - Net periodic benefit cost 1,448 1,756 2,262
SCHEDULE OF AMOUNTS RECORDED IN CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS	The following amounts were recorded in the consolidated statements of comprehensive loss: SCHEDULE OF AMOUNTS RECORDED IN CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS For the year ended December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Actuarial loss arising from changes in financial assumptions 833 254 888 Past service costs 413 341 - Amortization recognized in net period benefit cost (30 ) (28 ) - Total 1,216 567 888
SCHEDULE OF DEFINED BENEFIT EXPECTED	SCHEDULE OF DEFINED BENEFIT EXPECTED US$’000 2024 8,809 2025 7,999 2026 7,276 2027 6,340 2028 5,463 Total 35,887

ORDINARY SHARES AND STATUTORY_2

ORDINARY SHARES AND STATUTORY RESERVE (Tables)	12 Months Ended
	Dec. 31, 2023
GT Warrants [Member]
SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING	The following table summarizes the changes in the number of warrants outstanding during the year ended December 31, 2023: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price Balance of warrants - December 31, 2022 5,000,000 $ 2 $ 10,000,000 Issued for services - - - Exercised 550,000 $ 2 $ 1,100,000 Cancelled - - - Expired - - - Balance of warrants – December 31, 2023 4,450,000 $ 2 $ 8,900,000 Balance of warrants exercisable - December 31, 2023 4,450,000 $ 2 $ 8,900,000
SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED	The Company used the following assumptions to estimate the fair value of warrants granted under the financial advisory agreement for the year ended December 31, 2022: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED February 15, 2022 Risk-free interest rate 1.72 % Expected volatility 60.00 % Expected term (in years) 5 Expected dividend yield 0.00 %
I-Bankers Warrants [Member]
SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING	The following table summarizes the changes in the number of warrants outstanding during the year ended December 31, 2023: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price Balance of warrants - December 31, 2022 414,000 $ 12 $ 4,968,000 Cancelled - - - Expired - - - Balance of warrants – December 31, 2023 414,000 $ 12 $ 4,968,000
SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED	The Company used the following assumptions to estimate the fair value of warrants granted for the year ended December 31, 2021: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED December 9, 2021 Risk-free interest rate 1.18 % Expected volatility 35.00 % Expected term (in years) 5 Expected dividend yield 0.00 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
SCHEDULE OF INCOME TAX (BENEFITS)	Composition of income tax benefits for the periods presented are as follow: SCHEDULE OF INCOME TAX (BENEFITS) December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Current income tax expenses (benefits) - - - Deferred income tax expenses (benefits) - - - Income tax expenses - - -
SCHEDULE OF RECONCILIATIONS OF INCOME TAX EXPENSES (BENEFITS)	Reconciliations of the income tax expenses (benefits) computed by applying the PRC statutory income tax rate of 25 SCHEDULE OF RECONCILIATIONS OF INCOME TAX EXPENSES (BENEFITS) December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Loss before income tax expenses (98,501 ) (111,518 ) (62,552 ) Income tax benefits computed at the PRC statutory income tax rate of 25 (24,625 ) (27,880 ) (15,638 ) Effect of exempted revenue on taxes - (6 ) (17,352 ) Effect of additional deduction for qualified R&D expenses (2,040 ) (2,222 ) (2,313 ) Effect of changes in asset value 1,711 1,068 1,999 Non-deductible expenses 154 5,657 182 Changes in valuation allowance and others 24,800 23,383 33,122 Income tax expenses - - -
SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES)	The Company’s deferred tax assets (liabilities) consisted of the following components: SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES) December 31, 2023 December 31, 2022 December 31, 2021 US$’000 US$’000 US$’000 Deferred tax assets Net operating loss carryforwards 140,835 154,881 179,577 Accrued warranty 51 80 72 Accrued expenses 11,095 11,559 9,984 Investment loss 695 575 627 Inventory impairment 3,029 4,139 6,435 Fixed assets impairment provision 973 1,868 1,757 Bad debts 80 - 24 Accrued payroll 13,088 15,228 18,640 Depreciation - - 360 Subtotal 169,846 188,330 217,476 Fair value change of fixed assets (10,321 ) (12,272 ) (14,337 ) Fair value change of intangible assets (3,763 ) (3,979 ) (4,433 ) Total deferred tax liabilities (14,084 ) (16,251 ) (18,770 ) Net deferred tax assets 155,762 172,079 198,706 Less: valuation allowance (155,762 ) (172,079 ) (198,706 ) Deferred tax assets, net of valuation allowance - - -

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES	(b) The following table consists of the total amount of transactions that have been entered into with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES i) Balance Sheets Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties As of December 31, 2023 US$’000 Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 421 - - - 3 - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd - 1,847 - - - - - Independent Directors John Chiang - 15 - - - 13 - Simon Pang - 15 - - - 13 - Wen Li - 15 - - - 13 - Ying Liu - 15 - - - 13 - Non-controlling interest shareholder China FAW Co., Ltd. 3 - 48,699 184 - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - - - - 1,142 3,906 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - - - - 30,542 104,227 Nanjing Shengnuo Biotechnology Industry Company Ltd - - - - - 69 1,127 Qiming Information Technology Co., Ltd. - - - 81 - 111 - FAW Bestune Car Co., Ltd. 164 - - 75 - - - FAW-Volkswagen Automobile Co., Ltd. 16 - - - - - - FAW Mould Manufacturing Co., Ltd. - - - 39,996 - - - FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. - - - 2,712 - 91 - FAW Logistics Co., Ltd. - - - 2,779 - - - Changchun FAW International Logistics Co., Ltd. - - - 374 - 631 - China FAW Group Co., Ltd. - - - - - 25,204 - China FAW Group Import & Export Co., Ltd. 25 - - 83 119 26 - FAW Finance Co., Ltd. - - - - - 20,565 162,181 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. - - - - 1,527 - - Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd - - - - - 21 563 Jinan Haiyun Investment Consulting Co., Ltd - - - - - 34 1,408 Machinery Industry Ninth Design and Research Institute Co., Ltd. - - - 878 - - - FAW Bus (Dalian) Co., Ltd. - - - - 758 - - Other - 458 49 30 79 4 - Total 208 2,786 48,748 47,192 2,483 78,495 273,412 Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties As of December 31, 2022 US$’000 Accounts receivable Other current assets Amounts due from related parties Accounts payable Contract liabilities Accruals and other current liabilities to related parties Loans attributable to related parties Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 760 - 204 - 3 - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd - 1,409 - 1,127 - - - Shareholder Zhang Jiannong - - - - - 657 - Principal Owner/Director Mu Hongwei - - - - - 244 - Shareholder Wang Qingjun - - - - - 287 - Non-controlling interest shareholder China FAW Co., Ltd. 114 - 59,928 261 - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - - - - 810 4,890 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - - - - 21,489 107,279 Qiming Information Technology Co., Ltd. - - - 869 - 631 - FAW Bestune Car Co., Ltd. 756 - - 302 - - - FAW Mould Manufacturing Co., Ltd. - 10 - 41,612 - - - FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. - - - 2,791 - 94 - FAW Logistics Co., Ltd. - - - 2,861 - - - Changchun FAW International Logistics Co., Ltd. - - - 385 - 650 - China FAW Group Co., Ltd. - - - - - 25,942 - China FAW Group Import & Export Co., Ltd. - - - 86 11 27 - FAW Finance Co., Ltd. - - - - - 13,780 166,930 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. - - - - 51 - - Significantly influenced by non-controlling interest shareholder Machinery Industry Ninth Design and Research Institute Co.,Ltd. - - - 1,281 - - - FAW Bus (Dalian) Co., Ltd. - - - - 781 - - Other - 480 91 1,110 69 909 - Total 870 2,659 60,019 52,889 912 65,523 279,099
SCHEDULE OF FINANCING WITH RELATED PARTIES	(c) The following table consists of the financing that have been entered into with related parties: SCHEDULE OF FINANCING WITH RELATED PARTIES December 31, 2023 December 31, 2022 US$’000 US$’000 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. (i) 104,227 107,279 Nanjing Shengnuo Biotechnology Industry Company Ltd. (ii) 1,127 - FAW Finance Co., Ltd. (iii) 162,181 166,930 Non-controlling interest shareholder Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (iv) 3,906 4,890 Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd (v) 563 - Jinan Haiyun Investment Consulting Co., Ltd (vi) 1,408 - Total 273,412 279,099 (i) In December 2019, Shandong Baoya entered loans with Yantai Guofeng Investment Holding Group Co., Ltd. The loans are bearing an interest rate of 6.5 nil (ii) In May 2023, Shandong Baoya entered loans with Nanjing Shengnuo Biotechnology Industry Company Ltd. The loans are bearing an interest rate of 10 (iii) During May 2020, FAW Jilin entered pledged loans with FAW Finance Co., Ltd. The loans are bearing rate of 3.915 2022 to 2025 40,545,289 287,867,500 5.0895 3.915 (iv) In 2016, Dezhou Yarui entered into a related party pledged loan with Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (“Dezhou Jingtai”). The loan was originally due on October 31, 2026. While in March 2022, pursuant to the loan agreement, this related party filed in court to request the Company to repay the loan in advance. As a result, in April 2022, the Company reached a settlement agreement with this related party. Pursuant to the settlement agreement, the outstanding balance of US$4,750,771 (RMB33,730,000) will bear an annual interest rate of 4.9% and will be repaid through four installments, with each payment amount of US$1,187,693 (RMB8,432,498) on and before August 1, 2024. As of the March 24, 2023, the Company partially paid the first installment, which is due on February 1, 2023. In August 2023, Dezhou Yarui further entered a loan agreement with Dezhou Jingtai to settle remaining payment due. The following table illustrates the carrying amount of the loan and the machine and equipment pledged by the Company to secure the borrowings as of December 31, 2023 and December 31, 2022. (v) In August and October 2023, Shandong Baoya entered two loans with Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd. The loans are bearing an interest rate of 10%. The total loans were US$563 thousand (RMB 4,000 thousand), in which the due date of US$423 thousand (RMB 3,000 thousand) was December 31, 2023. The Company has signed the agreement in January 2024 to extend the due date by six months. The due date of the remaining US$141 thousand (RMB 1,000 thousand) is extended from April 24, 2024 to October 23, 2024, and the interest rate is decreased from 10% to 8%. (vi) In August and September 2023, Shandong Baoya entered two loans with Jinan Haiyun Investment Consulting Co., Ltd. The loans bear an interest rate of 10%. The total loans were US$1408 thousand (RMB 10,000 thousand), in which the due dates were August 22, 2024 and September 24, 2024, respectively (the interest rate is updated to 8%). December 31, 2023 December 31, 2022 US$’000 US$’000 Collateralized by the FAW Jilin factory and land use right with the carrying value of US$ 64,942 461,080 71,312 491,909 49,297 50,740 It is collateralized by the machinery and equipment, mold and tooling, other logistic equipment of FAW Jilin with carrying value of USD 25,702 182,485 39,108 269,767 97,870 100,736 Collateralized by the machinery and equipment 97,870 100,736 Credit loan, no collateralized items. 15,014 15,454 Total 162,181 166,930 Loans attributable to related parties 162,181 166,930 (iv) In 2016, Dezhou Yarui entered into a related party pledged loan with Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (“Dezhou Jingtai”). The loan was originally due on October 31, 2026. While in March 2022, pursuant to the loan agreement, this related party filed in court to request the Company to repay the loan in advance. As a result, in April 2022, the Company reached a settlement agreement with this related party. Pursuant to the settlement agreement, the outstanding balance of US$ 4,750,771 33,730,000 4.9 1,187,693 8,432,498 December 31, 2023 December 31, 2022 US$’000 US$’000 Collateralized by buildings, machinery and equipment, land use right of Dezhou Yarui. The carrying amounts of machinery and equipment pledged to secure the borrowings as of December 31, 2023 and 2022 were US$ 586 4,159 844 5,821 1,780 12,640 nil 3,906 4,890 Collateralized amount 3,906 4,890 (v) In August and October 2023, Shandong Baoya entered two loans with Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd. The loans are bearing an interest rate of 10 563 4,000 423 3,000 141 1,000 April 24, 2024 to October 23, 2024 10 8 (vi) In August and September 2023, Shandong Baoya entered two loans with Jinan Haiyun Investment Consulting Co., Ltd. The loans bear an interest rate of 10 1408 10,000 August 22, 2024 September 24, 2024 8
SCHEDULE OF COMPENSATION TO RELATED PARTIES	The following table consists of the number of shares and the total amount of compensation to independent directors: SCHEDULE OF COMPENSATION TO RELATED PARTIES Compensation Issued shares Compensation Cash December 31, 2023 Issued shares Cash US$’000 John Chiang 5,000 $ 37.5 Simon Pang 5,000 $ 37.5 Wen Li 5,000 $ 37.5 Ying Liu 5,000 $ 37.5 Total 20,000 $ 150

CONDENSED FINANCIAL INFORMATI_2

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
SCHEDULE OF PARENT COMPANY CONDENSED BALANCE SHEETS	PARENT COMPANY CONDENSED BALANCE SHEETS (Amounts in thousands of US$, except for number of shares and per share data) SCHEDULE OF PARENT COMPANY CONDENSED BALANCE SHEETS December 31, 2023 December 31, 2022 ASSETS Current assets Cash and cash equivalents $ 48 $ 23 Other current assets 8,765 - Other current assets from related parties 60 - Other current assets 8,765 - Promissory Notes receivable - 1,380 Total current assets 8,873 1,403 Total assets $ 8,873 $ 1,403 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities Amounts due to related parties $ - $ 8 Accruals and other current liabilities to related parties 50 - Promissory Notes receivable - 1,380 Accruals and other current liabilities 5,274 - Total current liabilities 5,324 1,388 Total liabilities 5,324 1,388 Shareholders’ Equity Ordinary share - 27 Additional paid-in capital 30,041 - Accumulated deficit (26,492 ) (12 ) Total shareholders’ equity 3,549 15 Total liabilities and shareholders’ equity $ 8,873 $ 1,403
SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF OPERATION	PARENT COMPANY CONDENSED STATEMENTS OF OPERATIONS (Amounts in thousands of US$, except for number of shares and per share data) SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF OPERATION For the year ended For the year ended For the year ended December 31, 2023 December 31, 2022 December 31, Revenues $ - $ - $ - Cost of revenues - - - Gross loss - - - Operating expenses: Selling, general and administrative 3,592 577 8 Total operating expenses 3,592 577 8 Loss from operations (3,592 ) (577 ) (8 ) Other income - 600 - Interest income - - - Total other income, net - 600 - (Loss) income from operations before income taxes (3,592 ) 23 (8 ) Provision for income tax benefits (expenses) - - - Net (loss) income (3,592 ) 23 (8 ) Other comprehensive income (loss) - - - Comprehensive (loss) income $ (3,592 ) $ 23 $ (8 )
SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS	PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS (Amounts in thousands of US$, except for number of shares and per share data) SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS For the year ended For the year ended For the year ended December 31, 2023 December 31, 2022 December 31, Cash flows from operating activities Net (loss) income $ (3,592 ) $ 23 $ (8 ) Adjustments to reconcile net (loss) income to net cash used in operating activities: Share-based compensation expenses 3,171 - - Changes in operating assets and liabilities: Amounts due from related party (90 ) - - Amounts due to related party - - 8 Other current assets from related parties (60 ) - - Accrual and other current liabilities 136 - - Accruals and other current liabilities to related parties 50 - - Accrual and other current liabilities 136 - - Other liabilities 83 - - Net cash (used in) provided by operating activities (302 ) 23 - Cash flows from investing activities: Issuance of Promissory Notes receivable - (1,380 ) - Net cash used in investing activities - (1,380 ) - Cash flows from financing activities: Proceeds from Promissory Notes Payable - 1,380 - Proceeds from exercise of warrants 600 - - Payments for reverse recapitalization and ordinary shares issuance costs (250 ) - - Net cash provided by financing activities 350 1,380 - Net change in cash, cash equivalents, and restricted cash 48 23 - Cash, cash equivalents, and restricted cash, beginning of period - - - Cash, cash equivalents, and restricted cash, end of period $ 48 $ 23 $ - SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid for interest $ - $ - $ - Cash paid for taxes $ - $ - $ -

SCHEDULE OF BUSINESS COMBINATIO

SCHEDULE OF BUSINESS COMBINATION (Details) - Jupiter Wellness Acquisition Corp [Member]	12 Months Ended
	Dec. 31, 2023 shares
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	160,359,630
Legacy Chijet [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	152,130,300
JWACs Public Shares [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	1,300,705
JWAC Public Shares Converted [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	1,725,000
JWAC Sponsor Shares [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	3,450,000
Shares Issued To Private Placed Shareholders [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	1,503,625
Greentree Warrants [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	250,000

SCHEDULE OF CONSUMMATION OF REV

SCHEDULE OF CONSUMMATION OF REVERSE RECAPITALIZATION (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash		$ 13,680
Including repayment of extension note to Chijet Inc.		(2,060)
Accrued expenses		(7,129)
Bank charges		(1)
Net assets acquired by Chijet Motor as of June 1, 2023	$ 4,490	$ 4,490

SCHEDULE OF CONSOLIDATION OF SU

SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES (Details)	12 Months Ended
	Dec. 31, 2023
Baoya New Energy Shandong Co [Member]
Date of incorporation	Oct. 21, 2021
Entity place of incorporation	The PRC
Percentage of ownership	100%
Entity principal activites	Investment holding
Baoya New Energy Automobile Sale Yantai Co Ltd [Member]
Date of incorporation	Nov. 29, 2019
Entity place of incorporation	The PRC
Percentage of ownership	93.92%
Entity principal activites	New energy vehicle sales
Baoya New Energy Automobile R and D Xiangyang Co Ltd [Member]
Date of incorporation	May 25, 2022
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	Research and development of new energy vehicles
Baoya New Energy Automobile R and D Institution Yantai Co Ltd [Member]
Date of incorporation	Nov. 29, 2019
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	Research and development of new energy vehicles
Baoya Technology Holdings Limited [Member]
Date of incorporation	Jul. 12, 2021
Entity place of incorporation	BVI
Percentage of ownership	100%
Entity principal activites	Investment holding
Baoyaev Group Limited [Member]
Date of incorporation	Jul. 28, 2021
Entity place of incorporation	Hong Kong
Percentage of ownership	100%
Entity principal activites	Investment holding
Bijie Yabei New Energy Automobile Co Ltd [Member]
Date of incorporation	May 22, 2014
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	New energy vehicle manufacturing
Chijet Inc [Member]
Date of incorporation	Jul. 06, 2021
Entity place of incorporation	Cayman Islands
Percentage of ownership	100%
Entity principal activites	Investment holding
Dezhou Yarui New Energy Automobile Co Ltd [Member]
Date of incorporation	Feb. 01, 2016
Entity place of incorporation	The PRC
Percentage of ownership	65.23%
Entity principal activites	R&D and manufacturing of new energy vehicles
Dezhou Yitu New Energy Automobile Co Ltd [Member]
Date of incorporation	Apr. 23, 2011
Entity place of incorporation	The PRC
Percentage of ownership	86.43%
Entity principal activites	R&D and manufacturing of special electric vehicles
Faw Jilin Automobile Co Ltd [Member]
Date of incorporation	Jun. 20, 1984
Entity place of incorporation	The PRC
Percentage of ownership	60.05%
Entity principal activites	Commercial vehicles, passenger vehicles manufacturing
Faw Jilin Automobile Sale Co Ltd [Member]
Date of incorporation	Jun. 23, 2021
Entity place of incorporation	The PRC
Percentage of ownership	60.05%
Entity principal activites	Vehicle sales
Jupiter Wellness Acquisition Corp [Member]
Date of incorporation	Sep. 14, 2021
Entity place of incorporation	Delaware, US
Percentage of ownership	100%
Entity principal activites	Investment holding
Jixiang Automobile Service Yantai Co Ltd [Member]
Date of incorporation	Apr. 10, 2020
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	Sales and leasing of new energy vehicles
Shandong Baoya New Energy Vehicle Co Ltd [Member]
Date of incorporation	Apr. 14, 2009
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	New energy vehicle production and manufacturing
Xiangyang Yazhi New Energy Automobile Co Ltd [Member]
Date of incorporation	May 16, 2016
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	R&D and manufacturing of small new energy vehicles
Xiangyang Yazhi New Energy Automobile Sale Co Ltd [Member]
Date of incorporation	Jul. 22, 2016
Entity place of incorporation	The PRC
Percentage of ownership	85.17%
Entity principal activites	Sales of small new energy vehicles

ORGANIZATION (Details Narrative

ORGANIZATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jun. 01, 2023	Jun. 03, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ordinary shares issued			160,707,171	152,130,300
Common stock shares outstanding			160,659,630	152,130,300
Ordinary shares description			(i) privately placed JWAC Common Stock holders of 493,000 shares, (ii) holders with JWAC’s privately placed right to receive (1/8) of ordinary shares, equivalent of 61,625 shares, (iii) I-banker privately placed 136,000 shares, (iv) I-banker with privately place right to receive (1/8) of ordinary shares, equivalent of 17,000 shares, (v) I-banker representative shares of 276,000, (vi) JWAC officers and directors of 300,000 shares, (vii) Chijet independent directors compensation of 20,000 shares, (viii) Greentree Financial Group Inc. (“Greentree”) of 200,000 shares due to the conversion of Shandong Baoya’s accrued expenses of $1,000,000 pursuant to the financial consulting agreements with Greentree, and 250,000 shares issued for exercise of Greentree’s warrants.
Increase in additional paid-in capital.	$ 4,490		$ 4,490
Recapitalization costs			1,500
Transaction costs			1,500
Deferred costs			3,000
Net losses			98,501	$ 111,518	$ 62,552
Working capital deficit			434,226
Cash outflow operating activities			$ 40,017	$ (22,383)	$ 22,374
Shandong Baoya [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Ordinary shares issued		53,879,310
Business acquired percentage		85.172%
Business acquired description		(1) WFOE acquired 17.245% stake in Shandong Baoya from two shareholders through 53,879,310 ordinary shares issued by Chijet Inc.; and (2) WFOE acquired 67.927% stake in Shandong Baoya from seven shareholders, individual and institutional, for total consideration of Renminbi (“RMB”) 7. Upon those transactions, all seven shareholders entered into a voting agreement to vote consensually concerning operation and development matters of the Chijet Inc. and its subsidiaries
JWAC Public Shareholders [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares issued	1,725,000
Ordinary shares issued	160,359,630
Common stock shares outstanding	160,359,630
Shares issued	1,300,705
JWAC Public Shareholders [Member] | Common Class B [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares issued	1,503,625
JWAC Public Shareholders [Member] | Common Class B [Member] | Contingent Value Right [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares issued	3,450,000
Sellers [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Shares issued	266,102,827
Ordinary shares issued	152,130,300
Exchange ratio	57.17%
Aggregate value	$ 1,600,000
Share price	$ 10.517
Redemption price values	$ 674,000

SCHEDULE OF RESTRICTED CASH (De

SCHEDULE OF RESTRICTED CASH (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 1,378	$ 12,105
Frozen Amount [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	1,378	1,463
Security Amount [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash		$ 10,642

SCHEDULE OF ALLOWANCE FOR EXPEC

SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Balance	$ 73
Current period provision	56
Write-offs
Balance	129
Accounting Standards Update 2022-02 [Member]
Balance	73
Previously Reported [Member]
Balance

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIFE (Details)	Dec. 31, 2023
Building [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	20 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	25 years
Vehicles [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	4 years
Vehicles [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	5 years
Computer And Electronic Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	2 years
Computer And Electronic Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	5 years
Mold and Tooling [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	1 year
Mold and Tooling [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	13 years

SCHEDULE OF AMORTIZATION OF INT

SCHEDULE OF AMORTIZATION OF INTANGIBLE ASSETS (Details)	Dec. 31, 2023
Patents [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	5 years
Patents [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	10 years
Computer Software, Intangible Asset [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	2 years
Computer Software, Intangible Asset [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Equipment, useful life (Year)	10 years

SCHEDULE OF ACCRUED WARRANTY (D

SCHEDULE OF ACCRUED WARRANTY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Accrued warranty - beginning of year	$ 319	$ 290	$ 1,202
Warranty costs incurred	(106)	(89)	(989)
Provision for warranty		86	131
Translation adjustment	(9)	32	(54)
Accrued warranty - end of year	$ 204	$ 319	$ 290

SCHEDULE OF REVENUE (Details)

SCHEDULE OF REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party [Member]
Product Information [Line Items]
Total revenues	$ 2,403	$ 6,908	$ 15,283
Related Party [Member] | Vehicle Sales [Member]
Product Information [Line Items]
Total revenues	713	3,722	6,887
Related Party [Member] | Sales of Vehicle Parts And Accessories [Member]
Product Information [Line Items]
Total revenues	1,690	3,086	8,393
Related Party [Member] | Others [Member]
Product Information [Line Items]
Total revenues		100	3
Third Party [Member]
Product Information [Line Items]
Total revenues	7,080	8,053	7,020
Third Party [Member] | Vehicle Sales [Member]
Product Information [Line Items]
Total revenues	6,967	7,908	5,395
Third Party [Member] | Sales of Vehicle Parts And Accessories [Member]
Product Information [Line Items]
Total revenues	113	145	1,528
Third Party [Member] | Others [Member]
Product Information [Line Items]
Total revenues			$ 97

SCHEDULE OF GOVERNMENT SUBSIDY

SCHEDULE OF GOVERNMENT SUBSIDY (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Government Assistance [Line Items]
Government subsidies amount	$ 3,748	¥ 26,514	$ 19,467	¥ 131,145	$ 80,995	¥ 522,652
Subsidy One [Member]
Government Assistance [Line Items]
Type of Subsidies	Subsidies compensating for expenses or losses	Subsidies compensating for expenses or losses	Subsidies compensating for expenses or losses	Subsidies compensating for expenses or losses	Subsidies compensating for expenses or losses	Subsidies compensating for expenses or losses
Accounting Treatment	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.
Government subsidies amount	$ 3,270		$ 18,843		$ 4,243
Subsidy Two [Member]
Government Assistance [Line Items]
Type of Subsidies	Subsidies related to fixed assets	Subsidies related to fixed assets	Subsidies related to fixed assets	Subsidies related to fixed assets	Subsidies related to fixed assets	Subsidies related to fixed assets
Accounting Treatment	The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate.	The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate.	The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate.	The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate.	The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate.	The Company recorded subsidies as other liabilities when received and recognized government subsidies as government grant income over the depreciable lives of the related fixed assets for which the subsidies are intended to compensate.
Government subsidies amount	$ 478		$ 624		$ 652
Subsidy Three [Member]
Government Assistance [Line Items]
Type of Subsidies					Loan forgiveness	Loan forgiveness
Accounting Treatment					The Company recognizes government subsidies as government grant income when the principal and interest amounts are officially forgiven after complying with the conditions attaching to the subsidies.	The Company recognizes government subsidies as government grant income when the principal and interest amounts are officially forgiven after complying with the conditions attaching to the subsidies.
Government subsidies amount					$ 60,603
Subsidy Four [Member]
Government Assistance [Line Items]
Type of Subsidies					Investment promotion subsidy	Investment promotion subsidy
Accounting Treatment					The government subsidy is recognized as government grant income when the amounts are received and conditions are met.	The government subsidy is recognized as government grant income when the amounts are received and conditions are met.
Government subsidies amount					$ 15,497

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) ¥ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Property, Plant and Equipment [Line Items]
Restricted cash		$ 1,378,000		$ 12,105,000
Disposal property plant and equipment		287,000		13,000		$ 11,000
Impairment of indefinite-lived intangible assets		0		0		0
Long term investments		3,699,000		4,370,000
Impairment of long-lived assets		283,000		842,000		6,054,000
Cost of revenues		26,951,000		34,001,000		23,342,000
Research and development expense		8,398,000		13,772,000		15,420,000
Selling and marketing expense		1,590,000		2,012,000		1,864,000
General and administrative expense		45,691,000		63,312,000		48,577,000
Employee benefit expenses		5,118,000		5,824,000		7,276,000
Government subsidies amount		3,748,000	¥ 26,514	19,467,000	¥ 131,145	80,995,000	¥ 522,652
Statutory surplus fund						$ 4,968
Exchange consideration	[1]	$ 200,000
Share-Based Payment Arrangement, Tranche One [Member]
Property, Plant and Equipment [Line Items]
Share based payment award description		(i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies (including the period prior to Closing) as set forth in Chijet Motor ‘s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2023 (as adjusted for a fixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate) in excess of US$528,000 thousand, up to a maximum of 100% of the first tranche at US$801,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the first tranche if the Chijet Motor Ordinary Shares on the applicable Trading Market is at least US$13.00 per share (as equitably adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for at least twenty (20) out of thirty (30) Trading Days, through and including the thirtieth (30th) Trading Day after the date on which Chijet Motor files its annual report with the SEC on Form 20-F or 10-K (such trading criteria being collectively the “Trading Criteria”), for the fiscal year ended December 31, 2023, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled.	(i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies (including the period prior to Closing) as set forth in Chijet Motor ‘s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2023 (as adjusted for a fixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate) in excess of US$528,000 thousand, up to a maximum of 100% of the first tranche at US$801,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the first tranche if the Chijet Motor Ordinary Shares on the applicable Trading Market is at least US$13.00 per share (as equitably adjusted for share splits, share capitalizations, share consolidations, subdivisions, share dividends, reorganizations, recapitalizations and the like) for at least twenty (20) out of thirty (30) Trading Days, through and including the thirtieth (30th) Trading Day after the date on which Chijet Motor files its annual report with the SEC on Form 20-F or 10-K (such trading criteria being collectively the “Trading Criteria”), for the fiscal year ended December 31, 2023, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled.
Share-Based Payment Arrangement, Tranche Two [Member]
Property, Plant and Equipment [Line Items]
Share based payment award description		(i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies(including the period prior to Closing) as set forth in Chijet Motor’s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2024 (as adjusted for a fixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate)in excess of US$870,000 thousand, up to a maximum of 100% of the second tranche at US$2,206,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the second tranche based on meeting the Trading Criteria during the applicable period for the year ended December 31, 2024, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled.	(i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies(including the period prior to Closing) as set forth in Chijet Motor’s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2024 (as adjusted for a fixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate)in excess of US$870,000 thousand, up to a maximum of 100% of the second tranche at US$2,206,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the second tranche based on meeting the Trading Criteria during the applicable period for the year ended December 31, 2024, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled.
Share Based Compensation Award Earnout Shares [Member]
Property, Plant and Equipment [Line Items]
Share based payment award description		(i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies (including the period prior to Closing) as set forth in Chijet Motor’s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2025 (as adjusted for affixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate) in excess of US$1,616,000 thousand, up to a maximum of 100% of the final tranche at US$3,215,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the final tranche based on meeting the Trading Criteria during the applicable period for the year ended December 31, 2025, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled.	(i) vest proportionately based on the consolidated gross revenues of Chijet Motor and the Target Companies (including the period prior to Closing) as set forth in Chijet Motor’s audited annual financial statements included in Form 20-F or 10-K filed with the SEC for the calendar year ended December 31, 2025 (as adjusted for affixed 6.5-to-1 Chinese yuan renminbi to U.S. dollar exchange rate) in excess of US$1,616,000 thousand, up to a maximum of 100% of the final tranche at US$3,215,000 thousand in consolidated gross revenues, or alternatively (ii) vest for 100% of the final tranche based on meeting the Trading Criteria during the applicable period for the year ended December 31, 2025, and any shares in the tranche that do not so vest will be surrendered to Chijet (along with earnings thereon) and cancelled.
Business Combination Agreement [Member]
Property, Plant and Equipment [Line Items]
Ordinary shares | shares		64,084,889	64,084,889
Exchange consideration		$ 674,000,000
Sales of Vehicles [Member]
Property, Plant and Equipment [Line Items]
VAT percentage for services		13%	13%
Spare Parts [Member]
Property, Plant and Equipment [Line Items]
VAT percentage for services		6%	6%
Other Services [Member]
Property, Plant and Equipment [Line Items]
VAT percentage for services		9%	9%
Baosteel Auto Steel Parts Company Limited [Member]
Property, Plant and Equipment [Line Items]
Equity interest		30%
Longshan Automobile Chassis Company Limited [Member]
Property, Plant and Equipment [Line Items]
Equity interest				20%
Minimum [Member]
Property, Plant and Equipment [Line Items]
Salvage value rate		0%
Maximum [Member]
Property, Plant and Equipment [Line Items]
Salvage value rate		5%
[1]Issuance of Chijet Motor Ordinary Shares to independent directors pursuant to the board of directors’ compensation program adopted by the Company upon consummation of the business combination with JWAC as discussed in Note1(b), 22(d).

CONCENTRATION OF RISK (Details

CONCENTRATION OF RISK (Details Narrative) - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade Accounts Receivable [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage	12%
Trade Accounts Receivable [Member] | One Third Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage	19%
Trade Accounts Receivable [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage		69%
Trade Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage		19%
Trade Accounts Receivable [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage		10%
Revenue Benchmark [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage			35%
Revenue Benchmark [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage		13%
Revenue Benchmark [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage		12%
Revenue Benchmark [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage		12%
Revenue Benchmark [Member] | One Third Party Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage	22%
Revenue Benchmark [Member] | Customer Four [Member]
Concentration Risk [Line Items]
Concentration risk percentage		11%
Revenue Benchmark [Member] | Four Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage		37%

SCHEDULE OF ACCOUNTS AND NOTES

SCHEDULE OF ACCOUNTS AND NOTES RECEIVABLE NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 20	$ 17
Notes receivable	2,221	216
Less: allowance for credit losses
Net accounts and notes receivable, net	$ 2,241	$ 233

ACCOUNTS AND NOTES RECEIVABLE_3

ACCOUNTS AND NOTES RECEIVABLE, NET (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Allowance for credit losses

SCHEDULE OF INVENTORY NET (Deta

SCHEDULE OF INVENTORY NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 3,665	$ 14,721
Raw materials	15,720	16,249
Work-in-process	7,517	9,503
Inventory, subtotal	26,902	40,473
Less: inventory impairment provision	(12,117)	(16,555)
Inventory, net	$ 14,785	$ 23,918

INVENTORY, NET (Details Narrati

INVENTORY, NET (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory write down	$ 4,510	$ 4,450	$ 20,328

SCHEDULE OF OTHER CURRENT ASSET

SCHEDULE OF OTHER CURRENT ASSETS (Details) - Nonrelated Party [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Prepayments for materials	$ 7,509	$ 16,372
Prepayments for R&D	110	698
Prepayments for utilities	571	596
Other prepayments	341	250
Deductible value-added tax input	207	630
Other receivable	1,662	250
Promissory note receivable		1,380
Deferred cost		2,959
Subtotal	10,400	23,135
Less: allowance for bad debts	(449)	(230)
Net balance	$ 9,951	$ 22,905

OTHER CURRENT ASSETS (Details N

OTHER CURRENT ASSETS (Details Narrative) - USD ($) $ in Thousands		12 Months Ended
	Mar. 06, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 05, 2022
Short-Term Debt [Line Items]
Proceeds from promissory notes receivable		$ 2,060
Treasury Stock purchase		$ 500
Jupiter Wellness Acquisition Corp [Member]
Short-Term Debt [Line Items]
Proceeds from promissory notes receivable	$ 2,060
Treasury Stock purchase, shares	47,541
Treasury Stock purchase	$ 500
Unsecured Promissory Note [Member] | Jupiter Wellness Acquisition Corp [Member]
Short-Term Debt [Line Items]
Promissory notes receivable	$ 1,180				$ 1,380

SCHEDULE OF PLANT AND EQUIPMENT

SCHEDULE OF PLANT AND EQUIPMENT NET (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		$ 565,359	$ 610,309
Less: accumulated depreciation	[1]	(380,090)	(384,936)
Less: accumulated impairment	[2]	(3,892)	(7,471)
Property, plant and equipment, net	[3]	181,377	217,902
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		169,170	174,120
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		101,563	127,345
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		6,993	7,255
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		263,587	275,369
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		1,204	1,668
Other Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		7,641	7,617
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal	[4]	$ 15,201	$ 16,935
[1]Depreciation expenses for the years ended December 31, 2023, 2022 and 2021 were US$ 31,354 283 58,584 76,536

SCHEDULE OF PLANT AND EQUIPME_2

SCHEDULE OF PLANT AND EQUIPMENT NET (Details) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Depreciation	$ 31,354	$ 41,217	$ 50,780
Asset impairment charges	283	842	$ 6,054
Carrying value amount	565,359	610,309
FAW Jilin [Member]
Carrying value amount	$ 58,584	$ 76,536

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying value amount	$ 565,359	$ 610,309
Xiangyang Yazhi New Energy Automobile Co Ltd [Member]
Carrying value amount	28,581
Dezhou Yarui New Energy Automobile Co Ltd [Member]
Carrying value amount	1,961	844
Bijie Yabei New Energy Automobile Co Ltd [Member]
Carrying value amount	$ 152	$ 467

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Indefinite-Lived Intangible Assets [Line Items]
Finite lived intangible assets Gross Carrying Amount	$ 680	$ 701
Finite lived intangible assets Accumulated Amortization Amount	(647)	(603)
Finite lived intangible assets Net Carrying Amount	33	98
Indefinite lived intangible assets Gross Carrying Amount	127,378	131,108
Indefinite lived intangible assets Accumulated Amortization Amount
Indefinite lived intangible assets Net Carrying Amount	127,378	131,108
Intangible assets Gross Carrying Amount	128,058	131,809
Intangible assets Net Carrying Amount	127,411	131,206
Computer Software, Intangible Asset [Member]
Indefinite-Lived Intangible Assets [Line Items]
Finite lived intangible assets Gross Carrying Amount	472	487
Finite lived intangible assets Accumulated Amortization Amount	(439)	(389)
Finite lived intangible assets Net Carrying Amount	33	98
Patents [Member]
Indefinite-Lived Intangible Assets [Line Items]
Finite lived intangible assets Gross Carrying Amount	208	214
Finite lived intangible assets Accumulated Amortization Amount	(208)	(214)
Finite lived intangible assets Net Carrying Amount
Trademark and Manufacturing License [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite lived intangible assets Gross Carrying Amount	127,378	131,108
Indefinite lived intangible assets Accumulated Amortization Amount
Indefinite lived intangible assets Net Carrying Amount	$ 127,378	$ 131,108

SCHEDULE OF ESTIMATED AMORTIZAT

SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 29
2025 and thereafter	4
Total	$ 33	$ 98

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges were recognized on intangible assets	$ 0	$ 0	$ 0
Amortization expense of intangible assets	$ 82,000	$ 86,000	$ 45,000

SCHEDULE OF LAND USE RIGHTS NET

SCHEDULE OF LAND USE RIGHTS NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Land Use Rights Net
Land use right	$ 153,204	$ 158,995
Less: accumulated amortization	(27,055)	(24,654)
Land use right, net	$ 126,149	$ 134,341

LAND USE RIGHTS, NET (Details N

LAND USE RIGHTS, NET (Details Narrative) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2019 CNY (¥)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net	$ 126,149	$ 134,341
Amortization expense	3,184	3,350	$ 3,488
Operating Lease Arrangement [Member] | Lenders [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net	$ 46,872	$ 33,885			¥ 332,784	¥ 233,738
Operating Lease Arrangement [Member] | FAW Jilin [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net				$ 88,380			¥ 615,419
Operating lease description				One land is for commercial land use and expires in 2050. The other two lands are for industrial use and expire in 2061 and 2062, respectively. The land use rights provided a total area of 13 million square feet

SUPPLEMENTAL CASH FLOWS INFORMA

SUPPLEMENTAL CASH FLOWS INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
Operating cash flows payments for operating leases		$ 2,899
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 354

SCHEDULE OF COST FOR OPERATING

SCHEDULE OF COST FOR OPERATING LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
Operating lease cost		$ 398
Short-term lease cost	1,357	1,168	4,581
Total lease cost	$ 1,357	$ 1,566	$ 4,581

SCHEDULE OF TANGIBLE AND INTANG

SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Jun. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 27, 2019 USD ($)	Dec. 27, 2019 CNY (¥)
Assets acquired:
Cash and cash equivalents		$ 13,680
Other receivable		2,060
Liabilities and equity assumed
Accounts and other liabilities		(7,129)
Net assets acquired	$ 4,490	$ 4,490
Goodwill	$ 2,695		$ 2,774	$ 3,010
FAW Jilin [Member]
Assets acquired:
Cash and cash equivalents					$ 235,165	¥ 1,645,169
Accounts and notes receivable					111,511	780,105
Other receivable					262	1,829
Inventory					30,766	215,232
Property, plant and equipment, net					273,142	1,910,844
Equity investment					4,773	33,391
Intangible assets					129,315	904,663
Land use right					87,970
Land use right | ¥						615,419
Prepayments and other assets, current and non-current					53,820	376,512
Total assets acquired					926,724	6,483,164
Liabilities and equity assumed
Short-term borrowing					(28,589)	(200,000)
Accounts and notes payable					(160,346)	(1,121,745)
Contract liabilities					(11,904)	(83,276)
Accounts and other liabilities					(20,830)	(145,725)
Long-term payables					(249,417)	(1,744,870)
Accrued post-employment and termination benefits					(73,634)	(515,130)
Other payable, current and non-current					(81,749)	(571,898)
Noncontrolling interest					(88,575)	(619,653)
Total liabilities and equity assumed					(715,044)	(5,002,297)
Net assets acquired					211,680	1,480,867
Goodwill					2,735	19,133
Total purchase price					$ 214,415	¥ 1,500,000

SCHEDULE OF CARRYING AMOUNT OF

SCHEDULE OF CARRYING AMOUNT OF GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, beginning balance	$ 2,774	$ 3,010
Addition during the period
Impairment during the period
Translation adjustment	(79)	(236)
Goodwill, ending balance	$ 2,695	$ 2,774

GOODWILL (Details Narrative)

GOODWILL (Details Narrative)			12 Months Ended
	Dec. 27, 2019 USD ($)	Dec. 27, 2019 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 27, 2019 CNY (¥)
Restructuring Cost and Reserve [Line Items]
Purchase price	$ 214,415	¥ 1,500,000
Goodwill			$ 2,695,000	$ 2,774,000	$ 3,010,000
Impairment during the period
FAW Jilin [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill	$ 2,735,000					¥ 19,133,000

SCHEDULE OF OTHER ASSETS (Detai

SCHEDULE OF OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Long-term deferred expenses	$ 4,292	$ 2,392
Total	$ 4,292	$ 2,392

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Long-term deferred expenses	$ 4,292	$ 2,392

SCHEDULE OF ACCOUNTS AND NOTE_2

SCHEDULE OF ACCOUNTS AND NOTES PAYABLE (Details) - Nonrelated Party [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Accounts payable	$ 14,824	$ 18,218
Notes payable		10,566
Total	$ 14,824	$ 28,784

SCHEDULE OF CONTRACT LIABILITIE

SCHEDULE OF CONTRACT LIABILITIES (Details) - Nonrelated Party [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Contract liabilities - beginning of year	$ 3,654	$ 6,254
A change in time frame for a performance obligation satisfied	(11,747)	(11,771)
Advance received	13,205	9,612
Translation adjustment	(104)	(441)
Contract liabilities - subtotal	5,008	3,654
Less: contract liabilities to related parties	(2,483)	(912)
Contract liabilities - end of period	$ 2,525	$ 2,742

SCHEDULE OF ACCRUALS AND OTHER

SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Accrued post-employment and termination benefits - current portion	$ 8,809	$ 9,338
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Payroll payable	6,876	8,339
Accrued post-employment and termination benefits - current portion	8,809	9,338
Business and other taxes payable	456	585
Accrued expenses	18,362	18,029
Other payable secured by acceptance draft	3,525	216
Other payable	9,400	9,067
Total	$ 47,428	$ 45,574

LONG-TERM PAYABLE, CURRENT (Det

LONG-TERM PAYABLE, CURRENT (Details Narrative) ¥ in Thousands, $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)
Property, Plant and Equipment [Line Items]
Long-term payables, current	$ 97,832	¥ 694,598			$ 100,697	¥ 694,598
Long-term debt penalty	$ 737	¥ 5,232
Cost of land use right	5%	5%
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Carrying amount			$ 12,766	¥ 90,638
Building [Member]
Property, Plant and Equipment [Line Items]
Carrying amount			15,815	11,282
Land [Member]
Property, Plant and Equipment [Line Items]
Carrying amount			$ 14,406	¥ 102,280

PROMISSORY NOTE PAYABLE (Detail

PROMISSORY NOTE PAYABLE (Details Narrative) ¥ in Thousands, $ in Thousands				12 Months Ended
	Feb. 20, 2023 USD ($)	Jan. 03, 2023 USD ($)	Dec. 05, 2022 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Mar. 06, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Sep. 11, 2018
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Principal amount			$ 1,380				$ 1,180
Bijie Yabei New Energy Automobile Co Ltd [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Principal amount				$ 10	$ 1,408	¥ 10,000		$ 1,450	¥ 10,000
Debt interest rate										6%
Secured Promissory Note and Pledge Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Repayment description				In 2014, Bijie Yabei New Energy Automobile Co., Ltd. (Bijie Yabei) became involved in a legal dispute with the Bijie Jinhaihu New District Management Committee (the “Plaintiff”) regarding a loan contract disagreement with the loan principal of RMB 10 million along with interest. The original judgment by the court (Case No. (2018) Qian 0502 Min Chu 7520) ruled in favor of the Plaintiff. Bijie Yabei appealed the decision, requesting the revocation and retrial or amendment of the judgment. The court of second instance in 2019 upheld the original judgment, and Bijie Yabei is now obligated to repay the loan principal and interest calculated at an annual rate of 6% from September 11, 2018, until the date of repayment.
Secured Promissory Note and Pledge Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Principal amount			$ 1,380
Debt interest rate			18%
Debt Instrument, Description			(i) January 6, 2023; (ii) the date that funding is received by Chijet Inc. in an amount of the amounts due hereunder after clearing the foreign exchange exit approval process in China; or (iii) the date of receipt by Chijet Inc. of the proceeds of US$10 million from the first tranche of financing.
Amended Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Principal amount		$ 280
Interest amount		$ 17
Maturity date description		January 6, 2023 to February 20, 2023
Second Amended Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Principal amount	$ 220
Interest amount	$ 13
Maturity date description	February 20, 2023, to March 22, 2023

SCHEDULE OF ASSUMPTIONS USED FO

SCHEDULE OF ASSUMPTIONS USED FOR ACTUARIAL VALUATIONS (Details)		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Mortality rate, description	[1]	(2010-2013) - CL5/CL6 up 2 years	(2010-2013) - CL5/CL6 up 2 years
Annual withdrawal rate		3%	3%
Annual increase rate of supplemental medical benefits		6%	6%
Actuarial valuations, rate		8%	8%
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate		2.25%	2.50%
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate		2.75%	3.25%
[1]China Life Insurance Mortality Table (2010-2013)

SCHEDULE OF RETIREMENT AND SUPP

SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Retirement Benefits [Abstract]
Balance	$ 60,913		$ 74,794		$ 80,734
Service costs	65		65		60
Interest costs	1,353		1,663		2,202
Benefits paid	(9,475)	¥ (67,030)	(10,606)	¥ (71,450)	(11,849)	¥ (76,460)
Actuarial loss arising from changes in financial assumptions	790		343		1,523
Past service costs	413		341
Translation adjustment	(1,709)		(5,687)		2,124
Balance	$ 52,350		$ 60,913		$ 74,794

SCHEDULE OF RETIREMENT AND SU_2

SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATION IN CONSOLIDATED BALANCE SHEET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
End of period	$ 52,350	$ 60,913
Less: net amount due within one year	(8,809)	(9,338)
Net amount due after one year	$ 43,541	$ 51,575

SCHEDULE OF CONSOLIDATED STATEM

SCHEDULE OF CONSOLIDATED STATEMENTS OF OPERATIONS COMPONENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Service costs	$ 65	$ 65	$ 60
Interest costs	1,353	1,663	2,202
Amortization of actuarial losses	3	1
Amortization of past service cost	$ 27	$ 27
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Changes in post-employment and termination benefits	Changes in post-employment and termination benefits	Changes in post-employment and termination benefits
Net periodic benefit cost	$ 1,448	$ 1,756	$ 2,262

SCHEDULE OF AMOUNTS RECORDED IN

SCHEDULE OF AMOUNTS RECORDED IN CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Actuarial loss arising from changes in financial assumptions	$ 833	$ 254	$ 888
Past service costs	413	341
Amortization recognized in net period benefit cost	(30)	(28)
Total	$ 1,216	$ 567	$ 888

SCHEDULE OF DEFINED BENEFIT EXP

SCHEDULE OF DEFINED BENEFIT EXPECTED (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 8,809
2025	7,999
2026	7,276
2027	6,340
2028	5,463
Total	$ 35,887

ACCRUED POST-EMPLOYMENT AND T_3

ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS (Details Narrative) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Retirement Benefits [Abstract]
Non-current liabilities	$ 43,541		$ 51,575
Accrued post-employment and termination benefits	8,809		9,338
Cash payments	$ 9,475	¥ 67,030	$ 10,606	¥ 71,450	$ 11,849	¥ 76,460

SUMMARY OF CHANGES IN NUMBER OF

SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
GT Warrants [Member]
Number of Shares Warrants Outstanding Beginning Balance | shares	5,000,000
Weighted sverage unit price, Beginning balance | $ / shares	$ 2
Number of Shares Warrants Total Price Outstanding Beginning Balance | $	$ 10,000,000
Number of Shares Warrants Issued for services | shares
Weighted sverage unit price, Issued for services | $ / shares
Number of Shares Warrants Total Price Outstanding Issued for services | $
Number of Shares Warrants Exercised | shares	550,000
Weighted sverage unit price, Exercised | $ / shares	$ 2
Number of Shares Warrants Total Price Outstanding Exercised | $	$ 1,100,000
Number of Shares Warrants Cancelled | shares
Weighted sverage unit price, Cancelled | $ / shares
Number of Shares Warrants Total Price Outstanding Cancelled | $
Number of Shares Warrants Expired | shares
Weighted average unit price, Expired | $ / shares
Number of Shares Warrants Total Price Outstanding Expired | $
Number of Shares Warrants Outstanding Ending Balance | shares	4,450,000
Weighted sverage unit price, Ending balance | $ / shares	$ 2
Number of Shares Warrants Total Price Outstanding Ending Balance | $	$ 8,900,000
Number of Shares Warrants Exercisable | shares	4,450,000
Weighted sverage unit price, Exercisable | $ / shares	$ 2
Number of Shares Warrants Total Price Exercisable | $	$ 8,900,000
I-Bankers Warrants [Member]
Number of Shares Warrants Outstanding Beginning Balance | shares	414,000
Weighted sverage unit price, Beginning balance | $ / shares	$ 12
Number of Shares Warrants Total Price Outstanding Beginning Balance | $	$ 4,968,000
Number of Shares Warrants Cancelled | shares
Weighted sverage unit price, Cancelled | $ / shares
Number of Shares Warrants Total Price Outstanding Cancelled | $
Number of Shares Warrants Expired | shares
Weighted average unit price, Expired | $ / shares
Number of Shares Warrants Total Price Outstanding Expired | $
Number of Shares Warrants Outstanding Ending Balance | shares	414,000
Weighted sverage unit price, Ending balance | $ / shares	$ 12
Number of Shares Warrants Total Price Outstanding Ending Balance | $	$ 4,968,000

SCHEDULE OF ASSUMPTIONS TO ESTI

SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED (Details)	Feb. 15, 2022	Dec. 09, 2021
Measurement Input, Risk Free Interest Rate [Member] | GT Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield	1.72
Measurement Input, Risk Free Interest Rate [Member] | I-Bankers Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield		1.18
Measurement Input, Price Volatility [Member] | GT Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield	60
Measurement Input, Price Volatility [Member] | I-Bankers Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield		35
Measurement Input, Expected Term [Member] | GT Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (in years)	5 years
Measurement Input, Expected Term [Member] | I-Bankers Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (in years)		5 years
Measurement Input, Expected Dividend Rate [Member] | GT Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield	0
Measurement Input, Expected Dividend Rate [Member] | I-Bankers Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield		0

ORDINARY SHARES AND STATUTORY_3

ORDINARY SHARES AND STATUTORY RESERVE (Details Narrative) $ / shares in Units, ¥ in Thousands, $ in Thousands				11 Months Ended	12 Months Ended
		Jun. 01, 2023 USD ($) $ / shares shares	Dec. 09, 2021 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CNY (¥) shares	Mar. 06, 2023 USD ($)	Dec. 31, 2022 CNY (¥) shares	Dec. 05, 2022 USD ($)	Feb. 15, 2022 $ / shares shares
Common stock, shares issued | shares				152,130,300	160,707,171	152,130,300		160,707,171		152,130,300
Common stock, par value | $ / shares				$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares issued | shares					160,659,630			160,659,630
Common stock, shares outstanding | shares				152,130,300	160,659,630	152,130,300		160,659,630		152,130,300
Warrant exercise price | $ / shares			$ 2.626
Fair value of warrants			$ 1,087	$ 22,900		$ 22,900
Fair value of warrants adjustments to additional paid in capital						22,900
Principal amount									$ 1,180		$ 1,380
Proceeds from Promissory Notes redemption price					$ 2,060
Treasury stock, common shares | shares		47,541			47,541			47,541
Accumulated balance of statutory reserves				$ 6,656	$ 6,656	$ 6,656		¥ 43,707		¥ 43,707
Accumulated balance of special reserves				574	574	574		¥ 4,064		¥ 3,869
Restricted net asset				170,956	148,301	170,956
CHINA
Accumulated balance of statutory reserves
Common Class A [Member]
Warrants to purchase shares | shares			414,000
Warrant exercise price | $ / shares			$ 12
Common Stock [Member]
Warrant exercise price | $ / shares			$ 12
Fair value of warrants adjustments to additional paid in capital	[1]
Warrants exercisable term			5 years
Treasury Stock, Common [Member]
Common stock, par value | $ / shares		$ 0.0001
Fair value of warrants adjustments to additional paid in capital
Repaid of treasury stock		$ 500
Treasury stock, common shares | shares		47,541
Proceeds from Promissory Notes redemption price		$ 2,060
Shandong Baoya [Member] | Common Stock [Member]
Warrants to purchase shares | shares												5,000,000
Warrant exercise price | $ / shares												$ 2
Chijet Inc [Member]
Common stock, shares issued | shares		152,130,300
Common stock, par value | $ / shares		$ 0.0001
[1]Par value of ordinary shares, additional paid-in capital and share data have been retrospectively restated to give effect to the reverse recapitalization that is discussed in Note 1(b).

SCHEDULE OF INCOME TAX (BENEFIT

SCHEDULE OF INCOME TAX (BENEFITS) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current income tax expenses (benefits)
Deferred income tax expenses (benefits)
Income tax expenses

SCHEDULE OF RECONCILIATIONS OF

SCHEDULE OF RECONCILIATIONS OF INCOME TAX EXPENSES (BENEFITS) (Details) (Parenthetical)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate	25%
State Administration of Taxation, China [Member]
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate	25%	25%	25%

SCHEDULE OF RECONCILIATIONS O_2

SCHEDULE OF RECONCILIATIONS OF INCOME TAX EXPENSES (BENEFITS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Loss before income tax expenses	$ (98,501)	$ (111,518)	$ (62,552)
Income tax benefits computed at the PRC statutory income tax rate of 25%	(24,625)	(27,880)	(15,638)
Effect of exempted revenue on taxes		(6)	(17,352)
Effect of additional deduction for qualified R&D expenses	(2,040)	(2,222)	(2,313)
Effect of changes in asset value	1,711	1,068	1,999
Non-deductible expenses	154	5,657	182
Changes in valuation allowance and others	24,800	23,383	33,122
Income tax expenses

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 140,835	$ 154,881	$ 179,577
Accrued warranty	51	80	72
Accrued expenses	11,095	11,559	9,984
Investment loss	695	575	627
Inventory impairment	3,029	4,139	6,435
Fixed assets impairment provision	973	1,868	1,757
Bad debts	80		24
Accrued payroll	13,088	15,228	18,640
Depreciation			360
Subtotal	169,846	188,330	217,476
Fair value change of fixed assets	(10,321)	(12,272)	(14,337)
Fair value change of intangible assets	(3,763)	(3,979)	(4,433)
Total deferred tax liabilities	(14,084)	(16,251)	(18,770)
Net deferred tax assets	155,762	172,079	198,706
Less: valuation allowance	(155,762)	(172,079)	(198,706)
Deferred tax assets, net of valuation allowance

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) $ in Millions		12 Months Ended
	Dec. 29, 2017 HKD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CNY (¥)
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate		25%
Income tax losses		$ 140,835,000	$ 154,881,000	$ 179,577,000
CHINA
Operating Loss Carryforwards [Line Items]
Income tax losses		$ 563,338,599			¥ 3,999,647,720
Income tax expiration term description		one to ten years for deduction against future taxable profits.
Inland Revenue, Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate		16.50%
Assessable profits	$ 2
Inland Revenue, Hong Kong [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate	8.25%
Inland Revenue, Hong Kong [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate	16.50%
State Administration of Taxation, China [Member]
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate		25%	25%	25%

SCHEDULE OF BALANCE SHEETS TRAN

SCHEDULE OF BALANCE SHEETS TRANSACTIONS WITH RELATED PARTIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Jilin FAW Baosteel Auto Steel Parts Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	421	760
Amounts due from related parties
Accounts payable		204
Contract liabilities
Accruals and other current liabilities to related parties	3	3
Loans attributable to related parties
Jilin Jiqi-Longshan Automobile Chassis Co., Ltd [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	1,847	1,409
Amounts due from related parties
Accounts payable		1,127
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
John Chiang [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	15
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	13
Loans attributable to related parties
Simon Pang [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	15
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	13
Loans attributable to related parties
Wen Li [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	15
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	13
Loans attributable to related parties
Ying Liu [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	15
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	13
Loans attributable to related parties
China FAW Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable	3	114
Other current assets
Amounts due from related parties	48,699	59,928
Accounts payable	184	261
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	1,142	810
Loans attributable to related parties	3,906	4,890
Yantai Guofeng Investment Holding Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	30,542	21,489
Loans attributable to related parties	104,227	107,279
Nanjing Shengnuo Biotechnology Industry Company Ltd [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	69
Loans attributable to related parties	1,127
Qiming Information Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable	81	869
Contract liabilities
Accruals and other current liabilities to related parties	111	631
Loans attributable to related parties
FAW Bestune Car Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable	164	756
Other current assets
Amounts due from related parties
Accounts payable	75	302
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
FAW-Volkswagen Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable	16
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
FAW Mould Manufacturing Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets		10
Amounts due from related parties
Accounts payable	39,996	41,612
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable	2,712	2,791
Contract liabilities
Accruals and other current liabilities to related parties	91	94
Loans attributable to related parties
FAW Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable	2,779	2,861
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
Changchun FAW International Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable	374	385
Contract liabilities
Accruals and other current liabilities to related parties	631	650
Loans attributable to related parties
China FAW Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	25,204	25,942
Loans attributable to related parties
China FAW Group Import & Export Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable	25
Other current assets
Amounts due from related parties
Accounts payable	83	86
Contract liabilities	119	11
Accruals and other current liabilities to related parties	26	27
Loans attributable to related parties
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	20,565	13,780
Loans attributable to related parties	162,181	166,930
Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities	1,527	51
Accruals and other current liabilities to related parties
Loans attributable to related parties
Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	21
Loans attributable to related parties	563
Jinan Haiyun Investment Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties	34
Loans attributable to related parties	1,408
Machinery Industry Ninth Design and Research Institute Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable	878	1,281
Contract liabilities
Accruals and other current liabilities to related parties
Loans attributable to related parties
FAW Bus (Dalian) Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities	758	781
Accruals and other current liabilities to related parties
Loans attributable to related parties
Other [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets	458	480
Amounts due from related parties	49	91
Accounts payable	30	1,110
Contract liabilities	79	69
Accruals and other current liabilities to related parties	4	909
Loans attributable to related parties
Related Party [Member]
Related Party Transaction [Line Items]
Accounts receivable	208	870
Other current assets	2,786	2,659
Amounts due from related parties	48,748	60,019
Accounts payable	47,192	52,889
Contract liabilities	2,483	912
Accruals and other current liabilities to related parties	78,495	65,523
Loans attributable to related parties	$ 273,412	279,099
Zhang Jiannong [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties		657
Loans attributable to related parties
Mu Hongwei [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties		244
Loans attributable to related parties
Wang Qingjun [Member]
Related Party Transaction [Line Items]
Accounts receivable
Other current assets
Amounts due from related parties
Accounts payable
Contract liabilities
Accruals and other current liabilities to related parties		287
Loans attributable to related parties

SCHEDULE OF OPERATIONS TRANSACT

SCHEDULE OF OPERATIONS TRANSACTIONS WITH RELATED PARTIES (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Related Party Transaction [Line Items]
Sale of goods	$ 9,483		$ 14,961		$ 22,303
Purchase of goods	26,951		34,001		23,342
Interest Expense	14,819		14,724		16,096
Jilin FAW Baosteel Auto Steel Parts Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods	177		941		1,705
Interest Expense
Jilin Jiqi-Longshan Automobile Chassis Co., Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods	676		316		362
Purchase of goods	2,598		2,803		3,307
Interest Expense
Wang Qingjun [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	15
Euroamer Kaiwan Technology Company Limited [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	22
China FAW Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	518		100
Purchase of goods			108		631
Interest Expense
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	203	¥ 1,437	245	¥ 1,653	256	¥ 1,627
Yantai Guofeng Investment Holding Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	6,894		7,239		8,545
Nanjing Shengnuo Biotechnology Industry Company Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	70
Qiming Information Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods	213		248		354
Interest Expense
FAW Bestune Car Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	145		1,790		7,822
Purchase of goods	1		391		9,297
Interest Expense
FAW-Volkswagen Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	108		224		316
Purchase of goods
Interest Expense
FAW Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods					42
Interest Expense
China FAW Technology Center [Member]
Related Party Transaction [Line Items]
Sale of goods	243		756		412
Purchase of goods
Interest Expense
China FAW Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods			429
Interest Expense
China FAW Group Import & Export Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	380		1,824		6,332
Purchase of goods			157		187
Interest Expense
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	7,510	¥ 53,126	7,240	¥ 48,773	7,295	¥ 46,365
Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	333		1,898
Purchase of goods
Interest Expense
Shandong Zhanpuce Management Consulting [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	12
Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	21
Jinan Haiyun Investment Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	34
Machinery Industry Ninth Design and Research Institute Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods					39
Purchase of goods					10,160
Interest Expense
Other [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods	19		1,052		625
Interest Expense
Related Party [Member]
Related Party Transaction [Line Items]
Sale of goods	2,403		6,908		15,283
Purchase of goods	3,008		6,129		26,308
Interest Expense	$ 14,781		$ 14,724		$ 16,096

SCHEDULE OF FINANCING WITH RELA

SCHEDULE OF FINANCING WITH RELATED PARTIES (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Yantai Guofeng Investment Holding Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[1]	$ 104,227	$ 107,279
Nanjing Shengnuo Biotechnology Industry Company Ltd [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[2]	1,127
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[3]	162,181	166,930
Collateralized amount		49,297	50,740
Collateralized by the machinery and equipment		97,870	100,736
Credit loan, no collateralized items.		15,014	15,454
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[4]	3,906	4,890
Collateralized amount		3,906	4,890
Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[5]	563
Jinan Haiyun Investment Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[6]	1,408
Related Party [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties		$ 273,412	$ 279,099
[1]In December 2019, Shandong Baoya entered loans with Yantai Guofeng Investment Holding Group Co., Ltd. The loans are bearing an interest rate of 6.5 nil 10 3.915 2022 to 2025 40,545,289 287,867,500 5.0895 3.915

SCHEDULE OF FINANCING WITH RE_2

SCHEDULE OF FINANCING WITH RELATED PARTIES (Details) (Parenthetical)

1 Months Ended

12 Months Ended

May 31, 2020 USD ($)

May 31, 2020 CNY (¥)

Jan. 31, 2024 USD ($)

Jan. 31, 2024 CNY (¥)

Oct. 31, 2023 USD ($)

Oct. 31, 2023 CNY (¥)

Sep. 30, 2023 USD ($)

Sep. 30, 2023 CNY (¥)

Aug. 31, 2023 USD ($)

Aug. 31, 2023 CNY (¥)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2016 USD ($)

Dec. 31, 2016 CNY (¥)

Dec. 31, 2023 CNY (¥)

May 31, 2023

Dec. 31, 2022 CNY (¥)

Nov. 01, 2022

Dec. 31, 2019

Dec. 31, 2016 CNY (¥)

Related Party Transaction [Line Items]

Land use right

$ 126,149,000

$ 134,341,000

Property and equipment

[1]

181,377,000

217,902,000

Yantai Guofeng Investment Holding Group Co., Ltd. [Member]

Related Party Transaction [Line Items]

Outstanding balance

[2]

104,227,000

107,279,000

Yantai Guofeng Investment Holding Group Co., Ltd. [Member] | Loan Agreements [Member]

Related Party Transaction [Line Items]

Interest rate

6.50%

Principal amount converted

Nanjing Shengnuo Biotechnology Industry Company Ltd [Member]

Related Party Transaction [Line Items]

Outstanding balance

[3]

$ 1,127,000

Nanjing Shengnuo Biotechnology Industry Company Ltd [Member] | Loan Agreements [Member]

Related Party Transaction [Line Items]

Interest rate

10%

FAW Finance Co., Ltd. [Member]

Related Party Transaction [Line Items]

Interest rate

3.915%

3.915%

Debt maturity description

11/1/2022 to 11/1/2025

Outstanding balance

[4]

$ 162,181,000

166,930,000

FAW Finance Co., Ltd. [Member] | Loan Agreements [Member]

Related Party Transaction [Line Items]

Interest rate

3.915%

3.915%

5.0895%

Debt maturity description

2022 to 2025

2022 to 2025

Installment payments

$ 40,545,289,000

¥ 287,867,500,000

Land use right

64,942,000

71,312,000

¥ 461,080,000

¥ 491,909,000

Property and equipment

$ 25,702,000

39,108,000

¥ 182,485,000

269,767,000

Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]

Related Party Transaction [Line Items]

Interest rate

4.90%

4.90%

Debt maturity description

February 1, 2023 and ends on August 1, 2024

Outstanding balance

[5]

$ 3,906,000

4,890,000

Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member] | Loan Agreements [Member]

Related Party Transaction [Line Items]

Installment payments

$ 1,187,693

¥ 8,432,498

Property and equipment

586,000

844,000

¥ 4,159,000

¥ 5,821,000

Borrowings

1,780,000

¥ 12,640,000

Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member] | Settlement Agreement [Member]

Related Party Transaction [Line Items]

Interest rate

4.90%

4.90%

Outstanding balance

$ 4,750,771

¥ 33,730,000

Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]

Related Party Transaction [Line Items]

Outstanding balance

[6]

563,000

Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member] | Loan Agreements [Member]

Related Party Transaction [Line Items]

Interest rate

10%

10%

10%

10%

Proceeds from loans

$ 563,000

¥ 4,000,000

$ 563,000

¥ 4,000,000

Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member] | Loan Agreements [Member] | Subsequent Event [Member]

Related Party Transaction [Line Items]

Interest rate

8%

8%

Debt maturity description

April 24, 2024 to October 23, 2024

April 24, 2024 to October 23, 2024

Proceeds from loans

$ 141,000

¥ 1,000,000

Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member] | Loan Agreements [Member] | December 31, 2023 [Member]

Related Party Transaction [Line Items]

Proceeds from loans

$ 423,000

¥ 3,000,000

$ 423,000

¥ 3,000,000

Jinan Haiyun Investment Consulting Co., Ltd [Member]

Related Party Transaction [Line Items]

Outstanding balance

[7]

$ 1,408,000

Jinan Haiyun Investment Consulting Co., Ltd [Member] | Loan Agreements [Member]

Related Party Transaction [Line Items]

Interest rate

10%

10%

10%

10%

8%

8%

Proceeds from loans

$ 1,408,000

¥ 10,000,000

$ 1,408,000

¥ 10,000,000

Debt maturity date

Sep. 24, 2024

Sep. 24, 2024

Aug. 22, 2024

Aug. 22, 2024

[1]The carrying amounts of buildings, mold and tooling, machine and equipment and other logistic equipment pledged by the FAW Jilin to secure the borrowings as of December 31, 2023 and December 31, 2022 were US$ 58,584 76,536 6.5 nil 10 3.915 2022 to 2025 40,545,289 287,867,500 5.0895 3.915

SCHEDULE OF COMPENSATION TO REL

SCHEDULE OF COMPENSATION TO RELATED PARTIES (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) shares
Related Party Transaction [Line Items]
Compensation issued shares | shares	20,000
Compensation cash | $	$ 150,000
John Chiang [Member]
Related Party Transaction [Line Items]
Compensation issued shares | shares	5,000
Compensation cash | $	$ 37,500
Simon Pang [Member]
Related Party Transaction [Line Items]
Compensation issued shares | shares	5,000
Compensation cash | $	$ 37,500
Wen Li [Member]
Related Party Transaction [Line Items]
Compensation issued shares | shares	5,000
Compensation cash | $	$ 37,500
Ying Liu [Member]
Related Party Transaction [Line Items]
Compensation issued shares | shares	5,000
Compensation cash | $	$ 37,500

RELATED PARTIES (Details Narrat

RELATED PARTIES (Details Narrative) $ / shares in Units, ¥ in Thousands, $ in Thousands			12 Months Ended
	Jun. 01, 2023 $ / shares shares	Mar. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2023 CNY (¥)
Related Party Transaction [Line Items]
Interest expense			$ 14,819		$ 14,724		$ 16,096
Compensation			$ 3,171
Compensation issued shares | shares			20,000	20,000
Accrued compensation			$ 200
Accrued prepaid expense			60
Independent Director One [Member]
Related Party Transaction [Line Items]
Compensation			100
Compensation issued shares | shares	5,000
Shares price per share | $ / shares	$ 10
Independent Director One [Member] | Stock Equivalent [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director One [Member] | Cash [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director Two [Member]
Related Party Transaction [Line Items]
Compensation			100
Compensation issued shares | shares	5,000
Shares price per share | $ / shares	$ 10
Independent Director Two [Member] | Stock Equivalent [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director Two [Member] | Cash [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director Three [Member]
Related Party Transaction [Line Items]
Compensation			100
Compensation issued shares | shares	5,000
Shares price per share | $ / shares	$ 10
Independent Director Three [Member] | Stock Equivalent [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director Three [Member] | Cash [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director Four [Member]
Related Party Transaction [Line Items]
Compensation			100
Compensation issued shares | shares	5,000
Shares price per share | $ / shares	$ 10
Independent Director Four [Member] | Stock Equivalent [Member]
Related Party Transaction [Line Items]
Compensation			50
Independent Director Four [Member] | Cash [Member]
Related Party Transaction [Line Items]
Compensation			$ 50
Four Independent Directors [Member] | Cash [Member] | Arrears on Semi-annual Basis [Member]
Related Party Transaction [Line Items]
Compensation		$ 25
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Maturity date, description			11/1/2022 to 11/1/2025	11/1/2022 to 11/1/2025
Interest rate			3.915%						3.915%
Default principal rate			5.0895%						5.0895%
Interest expense			$ 7,510	¥ 53,126	7,240	¥ 48,773	7,295	¥ 46,365
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Maturity date, description			February 1, 2023 and ends on August 1, 2024	February 1, 2023 and ends on August 1, 2024
Interest rate			4.90%						4.90%
Interest expense			$ 203	¥ 1,437	$ 245	¥ 1,653	$ 256	¥ 1,627
Other payable			$ 848						¥ 6,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) ¥ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)
Loss Contingencies [Line Items]
Contractual commitment			$ 29,429,000				¥ 208,946
Due with in one year			23,601				167,563
Litigation settlement expense	$ 153,000	¥ 1,115
Outstanding bill amount	$ 1,819,000	¥ 12,547
General and Administrative Expense [Member]
Loss Contingencies [Line Items]
Litigation settlement expense					$ 5,350,000	¥ 34,000
Production and Development Agreement [Member]
Loss Contingencies [Line Items]
Contractual commitment			6,029,000				¥ 42,804	$ 25,700,000	¥ 177,300
Purchase commitment amount			$ 10,196,000	¥ 72,393

SCHEDULE OF PARENT COMPANY COND

SCHEDULE OF PARENT COMPANY CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents		$ 10,731	$ 37,918
Total current assets		90,828	160,627
Total assets		536,451	653,612
Current liabilities
Promissory Notes receivable		1,408	2,830
Total current liabilities		525,054	493,140
Total liabilities		615,325	637,484
Shareholders’ Equity
Ordinary share	[1]	16	15
Additional paid-in capital		169,129	163,738
Accumulated deficit		(314,235)	(246,051)
Total shareholders’ (deficit) equity		(78,874)	16,128	$ 112,035	$ 171,664
Total liabilities and shareholders’ (deficit) equity		536,451	653,612
Nonrelated Party [Member]
Current assets
Other current assets		9,951	22,905
Current liabilities
Accruals and other current liabilities		47,428	45,574
Related Party [Member]
Current assets
Other current assets		2,786	2,659
Current liabilities
Accruals and other current liabilities		78,495	65,523
Parent Company [Member]
Current assets
Cash and cash equivalents		48	23
Total current assets		8,873	1,403
Total assets		8,873	1,403
Current liabilities
Accruals and other current liabilities		5,274
Promissory Notes receivable			1,380
Total current liabilities		5,324	1,388
Total liabilities		5,324	1,388
Shareholders’ Equity
Ordinary share			27
Additional paid-in capital		30,041
Accumulated deficit		(26,492)	(12)
Total shareholders’ (deficit) equity		3,549	15
Total liabilities and shareholders’ (deficit) equity		8,873	1,403
Parent Company [Member] | Nonrelated Party [Member]
Current assets
Other current assets		8,765
Parent Company [Member] | Related Party [Member]
Current assets
Other current assets		60
Promissory Notes receivable			1,380
Current liabilities
Amounts due to related parties			8
Accruals and other current liabilities		$ 50
[1]Par value of ordinary shares, additional paid-in capital and share data have been retrospectively restated to give effect to the reverse recapitalization that is discussed in Note 1(b).

SCHEDULE OF PARENT COMPANY CO_2

SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF OPERATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 9,483	$ 14,961	$ 22,303
Cost of revenues	15,295	19,285	56,210
Gross loss	(32,763)	(38,325)	(57,249)
Operating expenses:
Selling, general and administrative	47,281	65,324	50,441
Total operating expenses	55,962	79,938	71,915
Loss from operations	(88,725)	(118,263)	(129,164)
Other income	1,360	1,243	1,540
Interest income	681	840	1,884
Total other (expenses) income, net	(9,776)	6,745	66,612
Loss before income taxes	(98,501)	(111,518)	(62,552)
Provision for income tax benefits (expenses)
Net loss	(98,501)	(111,518)	(62,552)
Comprehensive (loss) income	(69,074)	(83,206)	(27,612)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues
Cost of revenues
Gross loss
Operating expenses:
Selling, general and administrative	3,592	577	8
Total operating expenses	3,592	577	8
Loss from operations	(3,592)	(577)	(8)
Other income		600
Interest income
Total other (expenses) income, net		600
Loss before income taxes	(3,592)	23	(8)
Provision for income tax benefits (expenses)
Net loss	(3,592)	23	(8)
Other comprehensive income (loss)
Comprehensive (loss) income	$ (3,592)	$ 23	$ (8)

SCHEDULE OF PARENT COMPANY CO_3

SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net (loss) income	$ (98,501)	$ (111,518)	$ (62,552)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Share-based compensation expenses	3,171
Changes in operating assets and liabilities:
Amounts due from related party	(11,271)	(10,594)	(66,867)
Other liabilities	4,605	20,992	23,622
Net cash (used in) provided by operating activities	(40,017)	22,383	(22,374)
Cash flows from investing activities:
Issuance of Promissory Notes receivable	(1,180)	(1,380)
Net cash used in investing activities	(1,762)	(13,245)	(1,071)
Cash flows from financing activities:
Proceeds from Promissory Notes Payable		1,380
Proceeds from exercise of warrants	1,100
Payments for reverse recapitalization and ordinary shares issuance costs	(1,192)
Net cash provided (used in) by financing activities	5,225	1,380	(44,611)
Net change in cash, cash equivalents, and restricted cash	(36,554)	10,518	(68,056)
Cash, cash equivalents, and restricted cash, beginning of period	50,023	43,140	109,193
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	236		258
Related Party [Member]
Changes in operating assets and liabilities:
Other current assets from related parties	127	1,180	1,616
Accrual and other current liabilities	12,972	13,622	55,010
Nonrelated Party [Member]
Changes in operating assets and liabilities:
Other current assets from related parties	(8,927)	(6,927)	10,390
Accrual and other current liabilities	1,427	472	(17,836)
Parent Company [Member]
Cash flows from operating activities
Net (loss) income	(3,592)	23	(8)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Share-based compensation expenses	3,171
Changes in operating assets and liabilities:
Amounts due from related party	(90)
Amounts due to related party			8
Other liabilities	83
Net cash (used in) provided by operating activities	(302)	23
Cash flows from investing activities:
Issuance of Promissory Notes receivable		(1,380)
Net cash used in investing activities		(1,380)
Cash flows from financing activities:
Proceeds from Promissory Notes Payable		1,380
Proceeds from exercise of warrants	600
Payments for reverse recapitalization and ordinary shares issuance costs	(250)
Net cash provided (used in) by financing activities	350	1,380
Net change in cash, cash equivalents, and restricted cash	48	23
Cash, cash equivalents, and restricted cash, beginning of period
Cash, cash equivalents, and restricted cash, end of period	48	23
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest
Cash paid for taxes
Parent Company [Member] | Related Party [Member]
Changes in operating assets and liabilities:
Other current assets from related parties	(60)
Accrual and other current liabilities	50
Parent Company [Member] | Nonrelated Party [Member]
Changes in operating assets and liabilities:
Accrual and other current liabilities	$ 136