PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

8. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

	As of
	June 30,			December 31,
	2024			2023
Production line for e-bicycles	$	1,728,322		$	1,719,776
Furniture, fixtures and office equipment		182,813			181,360
Vehicles		77,886			78,475
		1,989,021			1,979,611
Less: accumulated depreciation		(1,002,899	)		(898,864	)
Property and equipment, net	$	986,122		$	1,080,747

For the six months ended June 30, 2024 and 2023, depreciation expense amounted to $125,631and $128,368 , respectively.