OPERATING SEGMENTS

12 Months Ended

Dec. 31, 2021

Operating Segments [Abstract]

OPERATING SEGMENTS

OPERATING SEGMENTS

A.Reportable segment

Information reported to the Group’s Board (the Chief Operating Decision Maker (CODM)) for the purposes of resource allocation and assessment of segment performance is focused on the research and development of the electric vehicles. The Group has setup entities that will operate in the manufacturing and distribution, however at this stage, the Board reviews all the financial information as a single segment: Automotive.

B. Segment data

The following is an analysis of the Group’s segment results for the reportable segment for the years ended 31 December 2021, 2020 and 2019:

In thousands of USD	Automotive	Automotive	Automotive
	2021	2020	2019
Administrative expenses	(171,030)	(86,178)	(35,142)
Research and development expenses	(57,080)	(20,585)	(12,481)
Finance income	174,801	3,100	57
Finance cost	(32,538)	(6,604)	(3,622)
Loss for the year	(1,304,381)	(95,447)	(53,841)
Additions to PP&E and intangibles	406,298	187,208	114,103

The Company provides regularly to the Board, the measure of property, plant and equipment and intangible assets for the Automotive segment. The following table is breakdown of the segment’s balance sheet information for the years ended 31 December 2021 and 2020:

In thousands of USD	Automotive	Automotive
	2021	2020
Balance sheet information
Property, plant and equipment	271,607	138,317
Intangible assets and goodwill	414,674	210,723

C. Geographical information

The Automotive segment is managed on a worldwide basis and operates research and development primarily in the UK, the US, Germany, Lithuania, Russia and Israel. The manufacturing facilities are currently being built in the UK and the US. The geographic information analyzes the Group’s non-current assets by the Company’s country of domicile and other countries. Once revenue has been incurred it is envisaged to present it separately based on the geographic location of the subsidiary generating the revenue. The non-current assets correspond to property, plant and equipment as well as to intangible assets.

In thousands of USD	Automotive	Automotive
	2021	2020
Property, plant and equipment
UK	202,077	96,134
US	47,818	30,744
Spain	12,453	—
Russia	6,084	3,461
Others	3,175	7,978
Total	271,607	138,317
Intangible assets and goodwill
UK	414,623	208,742
Others	51	1,981
Total	414,674	210,723