SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Disaggregation of Revenue

The following table disaggregated the Company’s revenues by product line for the six months ended June 30, 2025 and 2024:

	For the Six Months Ended June 30,
	2025			2024
	(Unaudited)			(Unaudited)
Vehicles sales	$	7,976,499		$	9,610,536
Spare-parts sales		505,779			1,978,161
Other service income		229,877			123,794
Net revenues		8,712,155			11,712,491
Less: Net revenues, discontinued operation		(162,179	)		(2,054,744	)
Net revenues, continuing operation	$	8,549,976		$	9,657,747

	For the Six Months Ended June 30,
	2025			2024
	(Unaudited)			(Unaudited)
Primary geographical markets
Asia	$	1,931,593		$	2,294,674
Europe		5,786,495			3,654,430
America		960,227			5,763,387
Others		33,840			-
Net revenues		8,712,155			11,712,491
Less: Net revenues, discontinued operation		(162,179	)		(2,054,744	)
Net revenues, continuing operation	$	8,549,976		$	9,657,747

Receivables and Contractual Liabilities from Contracts with Customers

The following table provided information about receivables and contractual liabilities from contracts with customers:

	June 30, 2025			December 31, 2024
	(Unaudited)
Accounts receivable, net	$	4,375,966		$	4,688,322
Less: accounts receivable, net, held for discontinued operation		(1,139,219	)		(1,406,457	)
Accounts receivable, net, held for continuing operation		3,236,747			3,281,865
Contractual liabilities	$	4,904,249		$	4,202,001
Less: contractual liabilities, held for discontinued operation		(149,916	)		(80,696	)
Contractual liabilities, held for continuing operation		4,754,333			4,121,305