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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current assets      
Cash $ 103,072 $ 418,941 $ 736,605
Restricted cash 379,293 7,873 2,392
Inventories 188,582 265,190  
Total current assets 1,042,938 883,712  
Non-current assets      
Restricted cash 2,572 $ 321 $ 536
Investment securities - related parties 2,221    
Securities pledged to an investor 315,796    
Loan receivable from a related party $ 269,539    
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Related Party [Extensible Enumeration] Related party Related party Related party
Property, equipment and software, net $ 316,447 $ 354,617  
Intangible assets 116,500 116,360  
Equity method investments 7,499 4,466  
Operating lease right-of-use assets 144,029 173,103  
Total non-current assets 1,242,725 700,966  
Total assets 2,285,663 1,584,678  
Current liabilities      
Shortterm borrowings 802,519 226,772  
Exchangeable notes   378,638  
Share buyback forward liabilities 117,059    
Total current liabilities 2,467,397 1,757,281  
Noncurrent liabilities      
Warrant liabilities 3,340    
Exchangeable notes 102,999 75,678  
Deferred income 293,923 270,097 $ 258,450
Total noncurrent liabilities 678,492 654,569  
Total liabilities 3,145,889 2,411,850  
Commitments and contingencies (note 30)  
MEZZANINE EQUITY      
Redeemable Convertible Preferred Stock Value   383,530 368,409
SHAREHOLDERS' DEFICIT      
Ordinary shares (US$0.00001 par value per share, 5,000,000,000 shares authorized as of December 31, 2024 and 2023; 694,134,038 and 474,621,603 shares issued as of December 31, 2024 and 2023, respectively; 676,826,794 and 474,621,603 shares outstanding as of December 31, 2024 and 2023, respectively)1 [1] 7 21  
Additional paid-in capital 1,785,664 358,187  
Accumulated other comprehensive income 55,165 25,267  
Accumulated deficit (2,693,698) (1,588,773)  
Total shareholders' deficit attributable to ordinary shareholders (852,862) (1,205,298)  
Noncontrolling interests (7,364) (5,404)  
Total shareholders' deficit (860,226) (1,210,702) (453,015)
Total liabilities, mezzanine equity and shareholders' deficit 2,285,663 1,584,678  
Related party      
Current assets      
Accounts receivable, net 107,816 22,430  
Prepayments and other current assets, net 74,558 28,744  
Non-current assets      
Investment securities - related parties 2,221 3,326  
Loan receivable from a related party 269,539    
Other non-current assets 1,113 2,706  
Current liabilities      
Shortterm borrowings 199,570    
Accounts payable 410,433 340,419  
Accrued expenses and other current liabilities 214,760 290,686  
Convertible notes 113,910    
Noncurrent liabilities      
Operating lease liabilities 10,729 12,064  
Put option liabilities - related parties   11,884  
Other non-current liabilities 1,471 1,634  
Nonrelated Party      
Current assets      
Accounts receivable, net 117,076 76,664  
Prepayments and other current assets, net 72,541 63,870  
Non-current assets      
Other non-current assets 67,009 46,067  
Current liabilities      
Shortterm borrowings 602,949 226,772  
Accounts payable 61,752 20,123  
Contract liabilities - third parties 33,964 44,184  
Operating lease liabilities - third parties 14,094 16,760  
Accrued expenses and other current liabilities 389,791 419,422  
Put option liabilities - third parties 309,115    
Convertible notes   20,277  
Noncurrent liabilities      
Contract liabilities - third parties 8,683 6,245  
Operating lease liabilities 68,331 91,929  
Convertible notes - third parties 74,246 81,635  
Other non-current liabilities $ 114,770 103,403  
Series Pre-A Redeemable Convertible Preferred Shares      
MEZZANINE EQUITY      
Redeemable Convertible Preferred Stock Value [1]   184,509  
Series A Redeemable Convertible Preferred Shares      
MEZZANINE EQUITY      
Redeemable Convertible Preferred Stock Value   $ 199,021 [1] $ 191,125
[1] Shares outstanding for all periods reflect the adjustment for Recapitalization.