Chijet Motor (CJET) 6-K30 Sep 24Current report (foreign)Financial data

Company Profile

Cover

Cover	6 Months Ended
Cover	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
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 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

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents		$ 1,070	$ 10,731
Restricted cash		387	1,378
Inventory, net		16,719	14,785
Total current assets		77,725	90,828
Property, plant and equipment, net	[1]	166,413	181,377
Intangible assets, net		124,464	127,411
Land use rights, net		121,696	126,149
Long-term investments		3,582	3,699
Goodwill		2,633	2,695
Other assets		3,800	4,292
Total assets		500,313	536,451
Current liabilities
Loans attributable to related parties		227,644	232,867
Long-term payables, current		95,580	97,832
Promissory note payable			1,408
Total current liabilities		523,606	525,054
Accrued post-employment and termination benefits		39,611	43,541
Other liabilities		5,891	6,185
Total liabilities		608,720	615,325
Commitments and contingencies
Shareholders’ Deficit
Ordinary shares (US$0.003 par value; 10,000,000,000 shares authorized, both 5,471,661 shares issued, both 5,470,076 shares outstanding as of June 30, 2024 and December 31, 2023)	[2]	16	16
Treasury Stock (Both 1,585 ordinary shares as of June 30, 2024 and December 31, 2023)	[2]	(500)	(500)
Additional paid-in capital		169,129	169,129
Statutory reserve		6,656	6,656
Accumulated deficit		(335,857)	(314,235)
Accumulated other comprehensive loss		6,570	6,100
Chijet Motor Company, Inc. shareholders’ deficit		(153,986)	(132,834)
Non-controlling interest		45,579	53,960
Total shareholders’ deficit		(108,407)	(78,874)
Total liabilities and shareholders’ deficit		500,313	536,451
Nonrelated Party [Member]
Current assets
Accounts and notes receivable, net		1,241	2,241
Other current assets		13,028	9,951
Current liabilities
Accounts and notes payable		20,001	14,824
Contract liabilities		2,639	2,525
Accruals and other current liabilities		45,737	47,428
Related Party [Member]
Current assets
Accounts and notes receivable, net		183	208
Amounts due from related parties		43,435	48,748
Other current assets		1,662	2,786
Current liabilities
Accounts and notes payable		45,854	47,192
Contract liabilities		1,360	2,483
Accruals and other current liabilities		84,791	78,495
Loans attributable to related parties, non-current		$ 39,612	$ 40,545

[1]The carrying amounts of buildings, molds and tooling, machines and equipment and other logistic equipment pledged by FAW Jilin to secure the borrowings were US$ 52,271 58,584

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Jun. 28, 2024	Dec. 31, 2023	Jun. 01, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.003	$ 0.003	$ 0.003
Common stock, shares authorized	10,000,000,000		500,000,000
Common stock, shares issued	5,471,661	5,471,661	5,471,661
Common stock, shares outstanding	5,470,076		5,470,076
Treasury stock, common shares	1,585		1,585	1,585

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Total revenues		$ 3,407	$ 2,615
Cost of revenues		(8,172)	(3,410)
Cost of revenues - idle capacity		(7,567)	(16,725)
Gross loss		(12,332)	(17,520)
Operating expenses:
Research and development		1,078	5,504
Selling, general and administrative		13,573	29,471
Total operating expenses		14,651	34,975
Loss from operations		(26,983)	(52,495)
Other (expenses) income:
Other income		2,364	363
Interest income		47	597
Interest expense		(8,417)	(7,491)
Government grant		1,706	1,823
Loss on equity investment		(64)	(289)
Other expenses		(176)	(99)
Total other expenses, net		(4,540)	(5,096)
Loss before income taxes		(31,523)	(57,591)
Provision for income tax
Net loss		(31,523)	(57,591)
Net loss attributed to non-controlling interest		(9,901)	(17,765)
Net loss attributed to ordinary shareholders of Chijet Motor Company, Inc.		$ (21,622)	$ (39,826)
Basic net loss per share attributable to ordinary shareholders	[1],[2]	$ (3.93)	$ (7.71)
Diluted net loss per share attributable to ordinary shareholders	[1],[2]	$ (3.93)	$ (7.71)
Basic weighted average ordinary shares	[1],[2]	5,499,883	5,166,792
Diluted weighted average ordinary shares	[1],[2]	5,499,883	5,166,792
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Total revenues		$ 3,162	$ 2,056
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Total revenues		$ 245	$ 559

[1]Par value of ordinary shares, treasury stock, additional paid-in capital and share data have been retrospectively restated to give effect to 1-for-30 reverse stock split that is discussed in Note 1(b) and the reverse recapitalization that is discussed in Note 1(c).[2]Shares issuable upon exercise of warrants were excluded in calculating diluted loss per share.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net loss	$ (31,523)	$ (57,591)
Other comprehensive income, net of tax
Changes in post-employment and termination benefits	(94)	(22)
Foreign currency adjustments	2,084	1,688
Comprehensive loss	(29,533)	(55,925)
Comprehensive loss attributed to non-controlling interest	(8,381)	(16,433)
Comprehensive loss attributable to ordinary shareholders of Chijet Motor Company, Inc.	$ (21,152)	$ (39,492)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) (Unaudited) - 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, 2022		$ 15	[1]		[1]	$ 163,738		$ 6,656	$ (246,051)	$ 7,063	$ 84,707	$ 16,128
Balance, shares at Dec. 31, 2022		5,071,010
Impact from adoption of ASU 2016-13			[1]		[1]				(73)			(73)
Effect of reverse recapitalization, net of costs		$ 1	[1]		[1]	67						68
Effect of reverse recapitalization, net of costs, shares	[1]	304,861
Conversion of rights to ordinary shares upon the reverse recapitalization			[1],[2]		[1]
Conversion of rights to ordinary shares upon the reverse recapitalization, shares	[1]	60,122
Treasury Stock purchase			[1]	$ (500)	[1]							(500)
Treasury Stock purchase, shares				(1,585)
Shares issued to JWAC officers and directors	[3]		[1],[2]		[1]	3,021						3,021
Shares issued to JWAC officers and directors, shares	[1]	10,000
Shares issued to Greentree	[4]		[1],[2]		[1]	1,000						1,000
Shares issued to Greentree, shares	[1]	6,667
Shares issued to Chijet Motor directors	[5]		[1],[2]		[1]	200						200
Shares issued to Chijet Motor directors, shares	[1]	668
Exercise of warrants	[3]		[1],[2]		[1]	1,100						1,100
Exercise of warrants, shares	[1]	18,333
Foreign currency translation adjustment			[1]		[1]					347	1,341	1,688
Changes in post-employment and termination benefits			[1]		[1]					(13)	(9)	(22)
Net loss			[1]		[1]				(39,826)		(17,765)	(57,591)
Balance at Jun. 30, 2023		$ 16	[1]	$ (500)	[1]	169,126		6,656	(285,950)	7,397	68,274	(34,981)
Balance, shares at Jun. 30, 2023		5,471,661	[1]	(1,585)
Beginning balance, value at Dec. 31, 2023		$ 16	[1]	$ (500)	[1]	169,129		6,656	(314,235)	6,100	53,960	(78,874)
Balance, shares at Dec. 31, 2023		5,471,661		(1,585)
Foreign currency translation adjustment			[1]		[1]					526	1,558	2,084
Changes in post-employment and termination benefits			[1]		[1]					(56)	(38)	(94)
Net loss			[1]		[1]				(21,622)		(9,901)	(31,523)
Balance at Jun. 30, 2024		$ 16	[1]	$ (500)	[1]	$ 169,129		$ 6,656	$ (335,857)	$ 6,570	$ 45,579	$ (108,407)
Balance, shares at Jun. 30, 2024		5,471,661	[1]	(1,585)

[1]Par value of ordinary shares, treasury stock, additional paid-in capital and share data have been retrospectively restated to give effect to 1-for-30 reverse stock split that is discussed in Note 1(b) and the reverse recapitalization that is discussed in Note 1(c).[2]Less than $1000.[3]Issuance of 10,000 6,667 1,000,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) (Unaudited) (Parenthetical)	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Accrued expenses \| $	$ 1,000,000	[1]
Greentree Financia Group Inc. [Member]
Issuance of common share acquired	6,667
Greentree Financia Group Inc. [Member] \| Greentree [Member]
Accrued expenses \| $	$ 1,000,000
Common Stock [Member]
Issuance shares of common stock to directors and officers	10,000	[2]
Issuance of common share acquired	6,667	[2]
Accrued expenses \| $		[1],[2],[3]
Common Stock [Member] \| Jupiter Wellness Acquisition Corp. [Member]
Issuance shares of common stock to directors and officers	10,000

[1]Issuance of 6,667 1,000,000

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (31,523)	$ (57,591)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization expense	12,171	20,041
Share-based compensation expenses	60	3,121
Impairment of inventory	1,772	362
Bad debt expense	(8)
Government grants	(280)	(281)
Gain on disposal of property, plant and equipment	(1,271)	(21)
Loss on equity investment	64	318
Interest expenses	8,417	7,491
Changes in operating assets and liabilities:
Inventory	(3,706)	246
Amounts due from related party	5,313	4,429
Other assets	492	(1,247)
Accrued post-employment and termination benefits	(3,967)	(3,207)
Other liabilities	(14)	(8,733)
Net cash used in operating activities	(16,261)	(27,050)
Cash flows from investing activities:
Purchase of fixed assets	(1,061)	(4,885)
Issuance of promissory notes		(1,180)
Purchase of intangible assets		2,060
Net cash used in investing activities	(1,061)	(4,005)
Cash flows from financing activities:
Proceeds from short-term borrowings	3,027	920
Proceeds from short-term borrowings-related parties	1,238	2,892
Proceeds from exercise of warrants		1,100
Repayments of short-term borrowings		(2,329)
Repayments of short-term borrowings-related parties	(1,101)	(2,126)
Cash acquired in the reverse recapitalization		4,490
Payments for reverse recapitalization and ordinary shares issuance costs		(962)
Net cash provided by financing activities	3,164	3,985
Net change in cash, cash equivalents, and restricted cash	(14,158)	(27,070)
Effects of currency translation on cash, cash equivalents, and restricted cash	3,506	(1,168)
Cash, cash equivalents, and restricted cash, beginning of period	12,109	50,023
Cash, cash equivalents, and restricted cash, end of period	1,457	21,785
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest		236
Non-cash investing and financing activities:
Unpaid deferred offering costs related to reverse recapitalization		511
Deferred offering costs 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	1,000	220
Other current assets	(3,069)	6,247
Accounts and notes payable	6,089	(10,355)
Accruals and other current liabilities	(12,839)	5,928
Contract liabilities	114	2,720
Related Party [Member]
Changes in operating assets and liabilities:
Accounts and notes receivable	(35)	(2,010)
Other current assets	1,124	(890)
Accounts and notes payable	(1,338)	(2,355)
Accruals and other current liabilities	6,296	6,114
Contract liabilities	$ (1,123)	$ 2,403

ORGANIZATION

ORGANIZATION	6 Months Ended
ORGANIZATION	Jun. 30, 2024
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”) is 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 Stock Split On June 28, 2024, the Company announced a 1-for-30 0.003 500,000,000 10,000,000,000 16,666,667 160,707,171 5,471,661 Unless otherwise indicated, all share and share-related information presented in these financial statements, including all ordinary shares, treasury stock, warrants, per share data and share prices set forth in consolidated financial statements and notes, have been retroactively equitably adjusted to reflect the decreased number of shares and the increased price per share resulting from the Reverse Stock Split. For simplified understanding, the share-related information in the previous period or comparable period is simply converted according to the 1-for-30 (c) 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 8,870,095 5,071,010 0.5717 1.6 31.552 674 Following completion of the transactions contemplated by the BCA, there were an aggregate of 5,460,076 158,108 115,000 57,500 58,458 (i) privately placed JWAC Common Stock holders of 16,434 shares, (ii) holders with JWAC’s privately placed right to receive (1/8) of ordinary shares, equivalent of 2,055 shares, (iii) I-banker privately placed 4,534 shares, (iv) I-banker with privately place right to receive (1/8) of ordinary shares, equivalent of 567 shares, (v) I-banker representative shares of 9,200, (vi) JWAC officers and directors of 10,000 shares, (vii) Chijet independent directors compensation of 668 shares, (viii) Greentree Financial Group Inc. (“Greentree”) of 6,667 shares due to the conversion of Shandong Baoya’s accrued expenses of $1,000,000 pursuant to the financial consulting agreements with Greentree, and 8,333 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 5,071,010 JWAC’s public shares, net of redemption 158,108 JWAC public shares converted from (1/8) JWAC rights at closing 57,500 JWAC sponsor shares 115,000 Shares issued to private placed shareholders and rights, and share-based compensation 50,125 Exercise of Greentree warrants 8,333 Total shares of ordinary shares outstanding immediately after the Business Combination 5,460,076 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 (d) 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 1,795,977 Given no change in control, the transaction is accounted for as business combination under common control. As of June 30, 2024, the subsidiaries of Chijet Motor were: SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES Date of Place of Percentage of ownership Principal 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 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 (e) 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$ 31,523 57,591 445,881 16,261 The Company is evaluating strategies to continue as a going concern including a) developing and continuously promoting a systematic financing plan including third-party financings and capital issuances, and the restructuring of existing loans 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; c) applying more effective marketing strategies including developing overseas markets; and d) implementing cost control measures. 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	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2024
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$”). The functional currency of the Company and its subsidiaries which is incorporated in places other than Chinese Mainland is United States dollars. The functional currencies of the other subsidiaries are their respective local currencies (“RMB”, RMB are to the legal currency of China). The determination of the functional currency is based on the criteria set out by Accounting Standards Codification (“ASC”) 830, Foreign Currency Matters. Transactions denominated in foreign currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the applicable exchange rates at the balance sheet date. Non-monetary items that are measured in terms of historical cost in foreign currency are measured using the exchange rates at the dates of the initial transactions. Exchange gains or losses arising from foreign currency transactions are included in the consolidated statements of comprehensive loss. The financial statements of Chijet’s subsidiaries whose functional currency is not the US$ 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’ 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 June 30, 2024 and December 31, 2023, the carrying values of these financial instruments approximated 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 a court order; (b) the deposits held in designated bank accounts as security for the repayment of notes payable. The restricted cash attributable to the court order primarily resulted a contract dispute. As of June 30, 2024 and December 31, 2023, the restricted cash amounted to approximate US$ 387 1,378 The restricted cash is presented separately on the consolidated balance sheets as follows: SCHEDULE OF RESTRICTED CASH June 30, 2024 December 31, 2023 US$’000 (Unaudited) US$’000 Frozen amount 104 1,378 Security amount 283 - Total restricted cash 387 1,378 (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 for the six months ended June 30, 2024 and 2023, respectively. SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS For the six months ended June 30, 2024 US$’000 (Unaudited) Balance as of January 1, 2024 129 Current period provision - Reversal (8 ) Write-offs - Balance as of June 30, 2024 121 For the six months ended June 30, 2023 US$’000 (Unaudited) Balance as of December 31, 2022 - Adoption of ASC Topic 326 73 Balance as of January 1, 2023 73 Current period provision - Write-offs - Balance as of June 30, 2023 73 (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 range from 0 5 SCHEDULE OF ESTIMATED USEFUL LIFE Estimated 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$ 1,271 21 (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 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 June 30, 2024 and December 31, 2023. 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 local government authorities. Upon the adoption of ASC 842, Leases (m) Long-term investments Long-term investments consist of an investment in Jilin FAW Baosteel Auto Steel Parts Co., Ltd. (“Baosteel”) amounting to approximate US$ 3,582 3,699 30 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 investments 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 investments during the six months ended June 30, 2024 and 2023. (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 first determines the unit of account for testing the long-lived assets, and then identifies the indicators of impairment. When indicators of impairment at present, the Company must then proceed to the recoverability test. The 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. (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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) (Audited) Accrued warranty - beginning of period/year 204 319 Warranty costs incurred 46 (106 ) Provision for warranty - - Translation adjustment (6 ) (9 ) Accrued warranty - end of period/year 244 204 (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 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 the service is insignificant, if it represents 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 For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Related Parties Third Parties Related Parties Third Parties Vehicle sales $ - $ 3,161 $ 51 $ 2,041 Sales of vehicle parts and accessories $ 245 $ - $ 508 $ 3 Others $ - $ 1 $ - $ 12 Total revenues 245 3,162 559 2,056 All of the property and equipment of the Company is physically located in the PRC. The geographical location of the Company’s customers is also the PRC and all of the Company’s revenue is derived from operations in the PRC for the six months periods ended June 30, 2024 and 2023. (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$ 7,567 16,725 (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 six months ended June 30, 2024 and 2023, R&D expenses were US$ 1,078 5,504 (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 six months ended June 30, 2024 and 2023, total sales and marketing expenses were US$ 738 782 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 six months ended June 30, 2024 and 2023, general and administrative expenses were US$ 12,835 28,689 (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 there is no legal obligation beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately US$ 1,999 2,915 (w) Government grants The Company’s PRC based subsidiaries received subsidies from certain local governments. The Company’s government subsidies consist of subsidies which are provided by the local governments 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. He

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENT	6 Months Ended
RECENT ACCOUNTING PRONOUNCEMENT	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENT	3. RECENT ACCOUNTING PRONOUNCEMENT Recently adopted accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. The guidance in ASC 470-20 applies to convertible instruments for which the embedded conversion features are not required to be bifurcated from the host contract and accounted for as derivatives. In addition, the amendments revise the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification. These amendments are expected to result in more freestanding financial instruments qualifying for equity classification (and, therefore, not accounted for as derivatives), as well as fewer embedded features requiring separate accounting from the host contract. The amendments in ASU 2020-06 further revise the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. ASU 2020-06 is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company adopted ASU 2020-06 within annual reporting period of January 1, 2024. There was no significant impact resulting from these disclosures on the consolidated financial statements. 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 adopted this ASU within annual reporting period of January 1, 2024 and the adoption did not have a material impact on the Company’s consolidated financial statements. Recently issued accounting pronouncements not yet adopted 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. The Company does not expect the adoption of ASU 2023-06 will 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 will adopt this ASU in fiscal 2024 and does not expect the adoption to have a material impact 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	6 Months Ended
CONCENTRATION OF RISK	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023, substantially all of the Company’s cash and cash equivalents and restricted cash was placed with banking institutions in the PRC. Management chose 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 based on publicly available information, management believes that those Chinese banks that hold the Company’s cash and cash equivalents and restricted cash are financially sound. 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 June 30, 2024, four third-party customers accounted for more than 10% of total accounts and notes receivable at 20 20 12 11 As of December 31, 2023, one customer, determined to be a related party under ASC 850, accounted for 12 19 During the six months ended June 30, 2024, two customers accounted for more than 10% of total revenue at 23 11 During the six months ended June 30, 2023, three customers accounted for more than 10% of total revenue at 14 14 11 (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	6 Months Ended
ACCOUNTS AND NOTES RECEIVABLE, NET	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Accounts receivable 3 20 Notes receivable 1,238 2,221 Less: allowance for credit losses - - Accounts and notes receivable, net 1,241 2,241 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 was no

INVENTORY, NET

INVENTORY, NET	6 Months Ended
INVENTORY, NET	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORY, NET	6. INVENTORY, NET Inventory consisted of the following: SCHEDULE OF INVENTORY NET June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Finished goods 6,316 3,665 Raw materials 15,803 15,720 Work-in-process 6,963 7,517 Inventory, subtotal 29,082 26,902 Less: inventory impairment provision (12,363 ) (12,117 ) Inventory, net 16,719 14,785 Finished goods primarily consist of vehicles ready for transit at production factories, 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 six months ended June 30, 2024 and 2023, write-downs of inventories to net realizable value were US$ 1,772 362

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	6 Months Ended
OTHER CURRENT ASSETS	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
OTHER CURRENT ASSETS	7. OTHER CURRENT ASSETS Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Prepayments for materials 10,104 7,509 Prepayments for R&D 98 110 Prepayments for utilities 574 571 Other prepayments 343 341 Deductible value-added tax input 627 207 Other receivables 1,715 1,662 Subtotal 13,461 10,400 Less: allowance for bad debts (433 ) (449 ) Net balance 13,028 9,951 On March 21, 2022, the Ministry of Finance and State Administration of Tax 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	6 Months Ended
PROPERTY, PLANT AND EQUIPMENT, NET	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) At cost: Buildings 165,276 169,170 Mold and tooling 99,218 101,563 Computer and electronic equipment 6,707 6,993 Machinery and equipment 254,532 263,587 Vehicles 942 1,204 Other logistic equipment 7,449 7,641 Construction in progress (i) 14,591 15,201 Property, plant and equipment, subtotal 548,715 565,359 Less: accumulated depreciation (ii) (379,298 ) (380,090 ) Less: accumulated impairment (iii) (3,004 ) (3,892 ) Property, plant and equipment, net (iv) 166,413 181,377 (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 six months ended June 30, 2024 and 2023 were US$ 10,605 18,329 (iii) There was no (iv) The carrying amounts of buildings, molds and tooling, machines and equipment and other logistic equipment pledged by FAW Jilin to secure the borrowings were US$ 52,271 58,584 The carrying amounts of nine vehicles pledged by Shandong Baoya in April 2024 to secure the borrowings was US$ 119 26,039 28,581 The carrying amounts of buildings, machines and equipment pledged by Dezhou Yarui to secure the borrowings were US$ 1,995 1,961 During the six months ended June 30, 2024, all the machinery and equipment of Bijie Yabei that were frozen were sold to repay the loan principal and partial interests owed to Bijie Jinhaihu New District Management Committee. Therefore, no frozen assets remained as of June 30, 2024. The details are disclosed in note 18. The carrying amount of the machinery and equipment of Bijie Yabei that were frozen was US$ 152

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	6 Months Ended
INTANGIBLE ASSETS, NET	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	9. INTANGIBLE ASSETS, NET Intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS June 30, 2024 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’000 US$’000 US$’000 (Unaudited) (Unaudited) (Unaudited) Finite-lived intangible assets: Computer software 461 (443 ) 18 Patent 203 (203 ) - Total finite-lived intangible assets 664 (646 ) 18 Indefinite-lived intangible assets: Trademark and manufacturing license 124,446 - 124,446 Total indefinite-lived intangible assets 124,446 - 124,446 Total intangible assets 125,110 (646 ) 124,464 December 31, 2023 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’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 No Amortization expenses of intangible assets were US$ 14 41 As of June 30, 2024, the 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 (Unaudited) Six months ending December 31, 2024 15 2025 and thereafter 4 Total 19

LAND USE RIGHTS, NET

LAND USE RIGHTS, NET	6 Months Ended
LAND USE RIGHTS, NET	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Land use right 149,678 153,204 Less: accumulated amortization (27,982 ) (27,055 ) Land use right, net 121,696 126,149 During the year ended December 31, 2019, the Company obtained three operating lease arrangements for land use rights with a fair value of US$ 88,380 One lease is for commercial land use and expires in 2050. The other two leases 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 discussed in Note 17, the Company was unable to meet the conditions to apply for the government subsidies to repay the loans. As a result, Xiangyang Yazhi and Dezhou Yarui pledged land use rights with the carrying amount of US$ 14,300 14,811 31,219 32,061 Amortization expenses of land use rights were US$ 1,552 1,671

OPERATING LEASES (EXCLUDING LAN

OPERATING LEASES (EXCLUDING LAND USE RIGHTS)	6 Months Ended
OPERATING LEASES (EXCLUDING LAND USE RIGHTS)	Jun. 30, 2024
Operating Leases
OPERATING LEASES (EXCLUDING LAND USE RIGHTS)	11. OPERATING LEASES (EXCLUDING LAND USE RIGHTS) Operating leases of the Company mainly consist of short-term leases of plants, warehouses and machinery. Short-term lease cost is recognized as rental expenses in the consolidated statements of operations. Supplemental cash flows information related to leases are as follows: SUPPLEMENTAL CASH FLOWS INFORMATION For the six months For the six months June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows payments for operating leases - - Right-of-use assets obtained in exchange for lease liabilities: Right-of-use assets obtained in exchange for new operating lease liabilities - - The components of lease cost for operating leases were as follows: SCHEDULE OF COST FOR OPERATING LEASES For the six months For the six months June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Operating lease cost - - Short-term lease cost 450 841 Total lease cost 450 841 As of June 30, 2024 and December 31, 2023, the lease related assets and liabilities recorded in the unaudited consolidated balance sheets were both nil.

GOODWILL

GOODWILL	6 Months Ended
GOODWILL	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	12. GOODWILL Goodwill represents 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 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$’000 RMB’000 Assets acquired: Cash and cash equivalents 235,165 1,645,169 Accounts and notes receivable 111,511 780,105 Other receivable 262 1,829 Inventory 30,766 215,232 Property, plant and equipment, net 273,142 1,910,844 Equity investment 4,773 33,391 Intangible assets 129,315 904,663 Land use right 87,970 615,419 Prepayments and other assets, current and non-current 53,820 376,512 Total assets acquired 926,724 6,483,164 Liabilities and equity assumed Short-term borrowing (28,589 ) (200,000 ) Accounts and notes payable (160,346 ) (1,121,745 ) Contract liabilities (11,904 ) (83,276 ) Accounts and other liabilities (20,830 ) (145,725 ) Long-term payables (249,417 ) (1,744,870 ) Accrued post-employment and termination benefits (73,634 ) (515,130 ) Other payable, current and non-current (81,749 ) (571,898 ) Noncontrolling interest (88,575 ) (619,653 ) Total liabilities and equity assumed (715,044 ) (5,002,297 ) Net assets acquired 211,680 1,480,867 Goodwill 2,735 19,133 Total purchase price 214,415 1,500,000 Changes in the carrying amount of goodwill consisted of the following: SCHEDULE OF CARRYING AMOUNT OF GOODWILL June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Beginning balance 2,695 2,774 Addition during the period/year - - Impairment during the period/year - - Translation adjustment (62 ) (79 ) Goodwill 2,633 2,695 Goodwill of US$ 2,735 2,633 2,695 no

OTHER ASSETS

OTHER ASSETS	6 Months Ended
OTHER ASSETS	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	13. OTHER ASSETS Other assets consisted of the following: SCHEDULE OF OTHER ASSETS June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Long-term deferred expenses 3,800 4,292 Total 3,800 4,292 Long-term deferred expenses of US$ 3,800

ACCOUNTS AND NOTES PAYABLE

ACCOUNTS AND NOTES PAYABLE	6 Months Ended
ACCOUNTS AND NOTES PAYABLE	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Accounts payable 19,718 14,824 Notes payable 283 - Total 20,001 14,824 Notes payable consisted of bank notes 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	6 Months Ended
CONTRACT LIABILITIES	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Contract liabilities - beginning of period/year 5,008 3,654 A change in time frame for a performance obligation satisfied (6,405 ) (11,747 ) Advance received 5,511 13,205 Translation adjustment (115 ) (104 ) Contract liabilities - subtotal 3,999 5,008 Less: contract liabilities to related parties (1,360 ) (2,483 ) Contract liabilities - end of period/year 2,639 2,525

ACCRUALS AND OTHER CURRENT LIAB

ACCRUALS AND OTHER CURRENT LIABILITIES	6 Months Ended
ACCRUALS AND OTHER CURRENT LIABILITIES	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Payroll payable 6,294 6,876 Accrued post-employment and termination benefits - current portion 8,134 8,809 Business and other taxes payable 620 456 Accrued expenses 17,800 18,362 Other payable secured by acceptance draft 405 3,525 Other payable 12,484 9,400 Total 45,737 47,428

LONG-TERM PAYABLES, CURRENT

LONG-TERM PAYABLES, CURRENT	6 Months Ended
LONG-TERM PAYABLES, CURRENT	Jun. 30, 2024
Debt Disclosure [Abstract]
LONG-TERM PAYABLES, CURRENT	17. LONG-TERM PAYABLES, CURRENT In May 2016, the Company entered into two loans with government entity (Xiangyang High tech Industrial Development Zone Management Committee). The purpose of the borrowing was solely for the development of the Electric Vehicle industry in Xiangyang, PRC, and the funds cannot be used for any other purpose. The loans bear no interest and the maturity date will depend 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, was unable to apply for the government subsidies to repay the US$ 95,580 720 5 The carrying value of the borrowings approximates their fair value as of June 30, 2024 and December 31, 2023. As of June 30, 2024 and December 31, 2023, the outstanding principal of the loans were US$ 95,580 97,832 Management has performed a detailed analysis of the potential loss and determined the outcome is uncertain as of September 30, 2024. The Company also is proactively negotiating with the lenders to extend the terms of the loans. At the same time, the Company plans to expand production to meet the conditions described in the loan agreements. In June 2023, the Company pledged machinery and equipment, molds and tooling with a carrying amount of approximately US$ 11,101 14,938 13,909

PROMISSORY NOTE PAYABLE

PROMISSORY NOTE PAYABLE	6 Months Ended
PROMISSORY NOTE PAYABLE	Jun. 30, 2024
Promissory Note Payable
PROMISSORY NOTE PAYABLE	18. PROMISSORY NOTE PAYABLE 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 of US$ 1,376 6 171 no

ACCRUED POST-EMPLOYMENT AND TER

ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS	6 Months Ended
ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS	Jun. 30, 2024
Retirement Benefits [Abstract]
ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS	19. ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS The Company pays post-employment obligations to its retired employees. In addition, the Company is committed to make periodic benefits payments to certain former employees, who were terminated or early retired. These benefits are 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; 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 June 30, 2024 and December 31, 2023 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 June 30, 2024 December 31, 2023 June 30, 2023 (Unaudited) (Unaudited) Discount rate 1.75 2.25 % 2.25 2.75 % 2.25 3.00 % Mortality rate (2010-2013) - CL5/CL6 up 2 years Annual withdrawal rate 3.00 % 3.00 % 3.00 % Annual increase rate of supplemental medical benefits 6.00 % 6.00 % 6.00 % Annual increase rate of social insurance, housing fund and EAP 8.00 % 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 six months ended June 30, 2024 and June 30, 2023 are as follows: SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Beginning of period 52,350 60,915 Service costs 39 32 Interest costs 554 745 Benefits paid (4,151 ) (4,334 ) Actuarial loss arising from changes in financial assumptions 134 (87 ) Past service costs - - Translation adjustment (1,181 ) (2,827 ) End of period 47,745 54,444 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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) (Unaudited) End of period/year 47,745 52,350 Less: net amount due within one year (8,134 ) (8,809 ) Net amount due after one year 39,611 43,541 As of June 30, 2024 and December 31, 2023, the non-current liabilities were US$ 39,611 43,541 As of June 30, 2024 and December 31, 2023, the current portion of the accrued post-employment and termination benefits were US$ 8,134 8,809 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 June 30, 2024 June 30, 2023 For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Service costs 39 32 Interest costs 554 745 Amortization of actuarial losses 6 - Amortization of past service cost 57 13 Net periodic benefit cost 656 790 The following amounts were recorded in the consolidated statements of comprehensive loss: SCHEDULE OF AMOUNTS RECORDED IN CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS June 30, 2024 June 30, 2023 For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Actuarial loss arising from changes in financial assumptions 157 35 Past service costs - - Amortization recognized in net period benefit cost (63 ) (13 ) Total 94 22 During the six months ended June 30, 2024 and 2023, the Company made cash payments of US$ 4,151 4,334

ORDINARY SHARES AND STATUTORY R

ORDINARY SHARES AND STATUTORY RESERVE	6 Months Ended
ORDINARY SHARES AND STATUTORY RESERVE	Jun. 30, 2024
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 share exchange, Chijet Inc. became a wholly-owned subsidiary of Chijet Motor and the Chijet Inc. shareholders received 5,071,010 0.003 5,471,661 5,470,076 1-for-30 reverse stock split (a) Warrants GT Warrants The following table summarizes the changes in the number of warrants outstanding during the six months ended June 30, 2024: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price US$’000 Balance of warrants - December 31, 2023 148,334 $ 60 $ 8,900 Balance of warrants - June 30, 2024 148,334 $ 60 $ 8,900 Balance of warrants exercisable - June 30, 2024 148,334 $ 60 $ 8,900 On February 15, 2022, pursuant to a financial advisory agreement, Shandong Baoya issued a common stock purchase warrant to Greentree to purchase 166,667 60.00 22,900 22,900 The Company used the following assumptions to estimate the fair value of warrants granted under the financial advisory agreement as of December 31, 2022: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED At 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 six months ended June 30, 2024: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price US$’000 Balance of warrants - December 31, 2023 13,800 $ 360 $ 4,968 Balance of warrants – June 30, 2024 13,800 $ 360 $ 4,968 On December 9, 2021, JWAC issued to I-Bankers warrants to purchase 13,800 360.00 1,087 78.78 360.00 five years The Company used the following assumptions to estimate the fair value of warrants as of December 31, 2021: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED At 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 1,585 0.003 2,060 1,585 (c) Statutory Reserves and Restricted Net Asset The Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their 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 six months ended June 30, 2024 and 2023, the Company’s PRC subsidiaries did no 6,656 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 June 30, 2024 and December 31, 2023, the accumulated balance of special reserves, which is included in the accumulated deficit, was approximately US$ 631 574 Because the Company’s entities in the PRC can only pay dividends 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 not available for distribution, were US$ 148,357 148,301

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2024
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 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) June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) 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) June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Loss before income tax expenses (31,523 ) (57,591 ) Income tax benefits computed at the PRC statutory income tax rate of 25 (7,881 ) (14,398 ) Use of NOL (98 ) - Effect of additional deduction for qualified R&D expenses (269 ) (779 ) Effect of changes in asset value 332 584 Non-deductible expenses 48 84 Changes in valuation allowance and others 7,868 14,509 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) June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Deferred tax assets Net operating loss carryforwards 144,150 140,835 Accrued warranty 61 51 Accrued expenses 12,521 11,095 Investment loss 695 695 Inventory impairment 3,091 3,029 Fixed assets impairment provision 949 973 Bad debts (4 ) 80 Accrued payroll 11,936 13,088 Subtotal 173,399 169,846 Fair value change of fixed assets (9,804 ) (10,321 ) Fair value change of intangible assets (3,626 ) (3,763 ) Total deferred tax liabilities (13,430 ) (14,084 ) Net deferred tax assets 159,969 155,762 Less: valuation allowance (159,969 ) (155,762 ) 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$ 576,598 one to ten years for deduction against future taxable profits.

RELATED PARTIES

RELATED PARTIES	6 Months Ended
RELATED PARTIES	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTIES	22. RELATED PARTIES The principal related parties of which the Company as of June 30, 2024 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 Shareholder Simon Pang Shareholder Wen Li Shareholder Ying Liu Shareholder/Independent Director Wang Wenbo Independent Director Li Huimin 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 tables indicate the transactions that have been entered into with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES i) Balance Sheets As of June 30, 2024 (Unaudited) US$’000 Accounts Other Amounts Accounts Contract Accruals Loans Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 191 - 158 - - - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd - 904 - 351 - - - Non-controlling interest shareholder China FAW Co., Ltd. 2 - 43,430 142 - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - - - - 1,325 3,816 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - - - - 33,185 101,827 Nanjing Shengnuo Biotechnology Industry Company Ltd - - - - - 113 - Qiming Information Technology Co., Ltd. - - - 79 - 103 - FAW Bestune Car Co., Ltd. 86 - - 73 - - - FAW-Volkswagen Automobile Co., Ltd. 40 - - - - - - FAW Mould Manufacturing Co., Ltd. - 9 - 39,085 - - - FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. - - - 2,649 - 89 - FAW Logistics Co., Ltd. - - - 2,715 - - - Changchun FAW International Logistics Co., Ltd. - - - 366 - 617 - China FAW Group Co., Ltd. - - - - - 24,624 - China FAW Group Import & Export Co., Ltd. - - - 81 86 25 - FAW Finance Co., Ltd. - - - - - 24,509 158,448 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. 55 - - - 457 - - Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd - - - - - 66 1,789 Jinan Haiyun Investment Consulting Co., Ltd - - - - - 105 1,376 Machinery Industry Ninth Design and Research Institute Co., Ltd. - 34 - 125 - - - FAW Bus (Dalian) Co., Ltd. - - - - 741 - - Other - 524 5 30 76 30 - Total 183 1,662 43,435 45,854 1,360 84,791 267,256 As of December 31, 2023 US$’000 Accounts Other Amounts Accounts Contract Accruals Loans 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 ii) Operations For the six months ended For the six months ended US$’000 US$’000 Sales of Purchase Interest Sales of Purchase Interest Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 4,322 - - 173 - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd 164 - - 164 843 - Non-controlling interest shareholder China FAW Co., Ltd. 39 - - - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - 94 - - 112 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - 3,370 - - 3,490 Nanjing Shengnuo Biotechnology Industry Company Ltd - - 46 - - 10 Qiming Information Technology Co., Ltd. - 46 - - 4 - FAW Bestune Car Co., Ltd. - - - - 1 - FAW-Volkswagen Automobile Co., Ltd. 42 - - 96 - - China FAW Technology Center - - - 248 - - FAW Finance Co., Ltd. - - 4,449 - - 3,871 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. - - - 51 - - Significantly influenced by non-controlling interest shareholder Shandong Zhanpuce Management Consulting - - - - - 8 Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd - - 46 - - - Jinan Haiyun Investment Consulting Co., Ltd - - 72 - - - Other - 80 - - 80 - Total 245 4,448 8,077 559 1,101 7,491 (c) The following table indicates the financings that have been entered into with related parties: SCHEDULE OF FINANCING WITH RELATED PARTIES June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. (i) 101,827 104,227 Nanjing Shengnuo Biotechnology Industry Company Ltd. (ii) - 1,127 FAW Finance Co., Ltd. (iii) 158,448 162,181 Non-controlling interest shareholder Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (iv) 3,816 3,906 Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd (v) 1,789 563 Jinan Haiyun Investment Consulting Co., Ltd (vi) 1,376 1,408 Total 267,256 273,412 (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 bear an interest rate of 10 344 757 (iii) During May 2020, FAW Jilin entered pledged loans with FAW Finance Co., Ltd. The loans bear interest of 3.915 2022 to 2025 39,612 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. In March 2022, pursuant to the loan agreement, Dezhou Jingtai 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 Dezhou Jingtai. Pursuant to the settlement agreement, the outstanding balance of US$4,641 thousand will bear an annual interest rate of 4.9% and will be repaid in four installments, with each payment amount of US$1,160 thousand on and before August 1, 2024. As of the March 24, 2023, the Company partially paid the first installment, which was due on February 1, 2023. In August 2023, Dezhou Yarui entered into an agreement with Dezhou Jingtai to settle the remaining amount 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 June 30, 2024 and December 31, 2023. (v) In August and October 2023, Shandong Baoya entered two loans totaling US$550 thousand with Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd.(“Jiankangdadi”). The loans bear interest of 10%. Of such loans, the due date of the US$413 thousand loan was December 31, 2023. The Company signed the agreements in January and June 2024 to extend the due date to December 31, 2024 and the interest rate decreased from 10% to 6%. The due date of the remaining US$137 thousand loan was extended from April 24, 2024 to October 23, 2024. On January 16, 2024, February 20, 2024, and March 25, 2024, Shandong Baoya entered three loans with Jiankangdadi. The loans bear interest of 6%. The total of the three loans was US$1,238 thousand. The due dates are January 15, 2025, January 28, 2025 and March 24, 2025. (vi) In August and September 2023, Shandong Baoya entered two loans amounting to US$1,376 thousand with Jinan Haiyun Investment Consulting Co., Ltd. The loans bear interest of 10%. The Company has signed an agreement to extend the due dates to August 22, 2024 and September 24, 2024, and the interest rate was decreased to 8%. In August 2024, the Company signed an agreement to extend the due date to February 22, 2025 and March 24, 2025 and the interest rate was decreased to 6%. June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Collateralized by the FAW Jilin factory and land use right with the carrying value of US$ 61,326 64,942 48,162 49,297 Collateralized by the machinery and equipment, molds and tooling, other logistic equipment of FAW Jilin with carrying value of US$ 21,813 25,702 95,617 97,870 Collateralized by the machinery and equipment 95,617 97,870 Credit loan, no collateralized items. 14,669 15,014 Total 158,448 162,181 Loans attributable to related parties 158,448 162,181 Maturity date The loans mature gradually from November 1, 2022 to November 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$ 4,449 3,871 (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. In March 2022, pursuant to the loan agreement, Dezhou Jingtai 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 Dezhou Jingtai. Pursuant to the settlement agreement, the outstanding balance of US$ 4,641 4.9 1,160 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) 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 June 30, 2024 and December 31, 2023 were US$ 709 586 1,677 1,780 3,816 3,906 Collateralized amount 3,816 3,906 Maturity date The outstanding balance was due 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$ 94 678 112 779 Others For the six months ended June 30, 2024, the Company has paid nil (v) In August and October 2023, Shandong Baoya entered two loans totaling US$ 550 10 413 10 6 137 April 24, 2024 to October 23, 2024 6 1,238 January 15, 2025 January 28, 2025 March 24, 2025 (vi) In August and September 2023, Shandong Baoya entered two loans amounting to US$ 1,376 10 August 22, 2024 September 24, 2024 8 February 22, 2025 and March 24, 2025 6 (d) Compensation to independent directors 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 June 30, 2024 (Unaudited) Issued shares Cash US$’000 John Chiang 167 $ 50.00 Simon Pang 167 $ 50.00 Wen Li 167 $ 50.00 Ying Liu 167 $ 50.00 Total 668 $ 200.00 The Company appointed four independent directors and offered each of the directors compensation amounting to US$ 100 thousand for one year. US$ 50 thousand of the compensation payable in cash and US$ 50 thousand payable by the issuance of the Company’s ordinary shares. On March 31, 2023, the offer letter took effect. The compensation is payable in arrears on a semi-annual basis, with the payment of US$ 25 thousand in cash and ordinary shares of the Company valued at US$ 25 thousand. On June 1, 2023, the Company issued to each independent director 167 ordinary shares of Chijet under the award plan. With the mutual understanding between the Company and the four independent directors, the share price of the 167 awarded ordinary shares was US$ 300 per share. As of June 30, 2024, the Company had paid US$ 200 thousand compensation costs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	23. COMMITMENTS AND CONTINGENCIES Commitments (a) Capital commitments As of June 30, 2024, the Company had several capital commitments with a total contract amount of US$ 43,524 23,291 (b) Parts purchase commitment During the six months ended June 30, 2024, the Company entered into various trial production and development agreements for a total of US$ 483 As of June 30, 2024, the Company had various agreements with various suppliers for production and development. The balance of the contractual commitments was approximately US$ 2,088 6,029 Contingencies (a) Legal proceedings As of June 30, 2024, the Company is subject to legal proceedings and regulatory actions in the ordinary course of business, such as disputes with suppliers, employees, etc. The proceedings are in the early stages. As of September 30, 2024, the amount of any single litigation was immaterial. Accordingly, there is considerable uncertainty regarding the timing or ultimate resolution of such matters. Especially, for the contracts with suppliers of molds, as the condition of payment in the contracts has not been reached. Therefore, the probability of an outflow is remote. 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. The Company has learned that there are four threatened lawsuits naming the Company and its transfer agent alleging breach of a Non-Redemption Agreement by the Company and the breach of a Contingent Value Rights Agreement by the Company and its transfer agent. The Company has not been served with a complaint.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
SUBSEQUENT EVENT	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	24. SUBSEQUENT EVENT Management performed an evaluation of the Company’s activity through the date the financial statements were issued (September 30, 2024), noting the following subsequent events: (a) Reverse Stock Split On June 28, 2024, the Company held its Annual General Meeting of Shareholders, where the Company’s shareholders approved a reverse stock split at a ratio of 1-for-30 0.003 Beginning on July 8, 2024, the Company’s ordinary shares began trading on Nasdaq on a split adjusted basis. No fractional shares were issued as a result of the reverse stock split. Instead, any fractional shares that would have resulted from the split were rounded up to the next whole number. Prior to the Reverse Stock Split the Company had 160,707,171 1-for-30 reverse stock split 5,471,661 (b) Form F-3: Public marketing funding On August 6, 2024, the Company has filed with the Securities and Exchange Commission a shelf registration statement on Form F-3 (File No. 333-281314), containing a base prospectus covering the offering, issuance, and sale by the Company of up to $ 200,000,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2024
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$”). The functional currency of the Company and its subsidiaries which is incorporated in places other than Chinese Mainland is United States dollars. The functional currencies of the other subsidiaries are their respective local currencies (“RMB”, RMB are to the legal currency of China). The determination of the functional currency is based on the criteria set out by Accounting Standards Codification (“ASC”) 830, Foreign Currency Matters. Transactions denominated in foreign currencies other than the functional currency are translated into the functional currency using the exchange rates prevailing at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the applicable exchange rates at the balance sheet date. Non-monetary items that are measured in terms of historical cost in foreign currency are measured using the exchange rates at the dates of the initial transactions. Exchange gains or losses arising from foreign currency transactions are included in the consolidated statements of comprehensive loss. The financial statements of Chijet’s subsidiaries whose functional currency is not the US$ 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’ 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 June 30, 2024 and December 31, 2023, the carrying values of these financial instruments approximated 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 a court order; (b) the deposits held in designated bank accounts as security for the repayment of notes payable. The restricted cash attributable to the court order primarily resulted a contract dispute. As of June 30, 2024 and December 31, 2023, the restricted cash amounted to approximate US$ 387 1,378 The restricted cash is presented separately on the consolidated balance sheets as follows: SCHEDULE OF RESTRICTED CASH June 30, 2024 December 31, 2023 US$’000 (Unaudited) US$’000 Frozen amount 104 1,378 Security amount 283 - Total restricted cash 387 1,378
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 for the six months ended June 30, 2024 and 2023, respectively. SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS For the six months ended June 30, 2024 US$’000 (Unaudited) Balance as of January 1, 2024 129 Current period provision - Reversal (8 ) Write-offs - Balance as of June 30, 2024 121 For the six months ended June 30, 2023 US$’000 (Unaudited) Balance as of December 31, 2022 - Adoption of ASC Topic 326 73 Balance as of January 1, 2023 73 Current period provision - Write-offs - Balance as of June 30, 2023 73
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 range from 0 5 SCHEDULE OF ESTIMATED USEFUL LIFE Estimated 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$ 1,271 21
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 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 June 30, 2024 and December 31, 2023. 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 local government authorities. Upon the adoption of ASC 842, Leases
Long-term investments	(m) Long-term investments Long-term investments consist of an investment in Jilin FAW Baosteel Auto Steel Parts Co., Ltd. (“Baosteel”) amounting to approximate US$ 3,582 3,699 30 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 investments 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 investments during the six months ended June 30, 2024 and 2023.
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 first determines the unit of account for testing the long-lived assets, and then identifies the indicators of impairment. When indicators of impairment at present, the Company must then proceed to the recoverability test. The 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.
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) (Audited) Accrued warranty - beginning of period/year 204 319 Warranty costs incurred 46 (106 ) Provision for warranty - - Translation adjustment (6 ) (9 ) Accrued warranty - end of period/year 244 204
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 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 the service is insignificant, if it represents 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 For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Related Parties Third Parties Related Parties Third Parties Vehicle sales $ - $ 3,161 $ 51 $ 2,041 Sales of vehicle parts and accessories $ 245 $ - $ 508 $ 3 Others $ - $ 1 $ - $ 12 Total revenues 245 3,162 559 2,056 All of the property and equipment of the Company is physically located in the PRC. The geographical location of the Company’s customers is also the PRC and all of the Company’s revenue is derived from operations in the PRC for the six months periods ended June 30, 2024 and 2023.
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$ 7,567 16,725
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 six months ended June 30, 2024 and 2023, R&D expenses were US$ 1,078 5,504
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 six months ended June 30, 2024 and 2023, total sales and marketing expenses were US$ 738 782 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 six months ended June 30, 2024 and 2023, general and administrative expenses were US$ 12,835 28,689
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 there is no legal obligation beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately US$ 1,999 2,915
Government grants	(w) Government grants The Company’s PRC based subsidiaries received subsidies from certain local governments. The Company’s government subsidies consist of subsidies which are provided by the local governments 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 Company 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 six months ended June 30, 2024 and 2023, the Company recognized subsidies of approximately US$ 1,706 1,823 See below for the nature of each government subsidy received and the related accounting treatment: SCHEDULE OF GOVERNMENT SUBSIDY No. US$’000 Type of Subsidies Accounting Treatment For the six months ended June 30, 2024 (Unaudited) No. US$’000 Type of Subsidies Accounting Treatment 1 1,426 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 280 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 1,706 No. US$’000 Type of Subsidies Accounting Treatment For the six months ended June 30, 2023 (Unaudited) No. US$’000 Type of Subsidies Accounting Treatment 1 1,542 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 281 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 1,823
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 six months ended June 30, 2024 and 2023. As of June 30, 2024 and December 31, 2023, the Company did no
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 Company’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 Company’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.
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 leases, right-of-use assets and the corresponding lease liabilities are nil and nil in the consolidated balance sheets as of June 30, 2024 and December 31, 2023. 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 whether the land use right agreement contains an operating lease. Land use rights are carried at cost less accumulated amortization and impairment losses.
Loss per share	(dd) Loss per share Basic loss per share is computed by dividing net 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 loss per share attributable to holders of ordinary shares when their effect is dilutive. Since the Company has incurred losses for the six months ended June 30, 2024 and 2023, 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, 2,136,163 674,000,000 (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$390.00 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 t 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 were issued to the 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 was accounted for as a reverse recapitalization, the fair value of the Earnout Share arrangement as of the Closing Date was accounted for as an equity transaction. Therefore, contingent value rights do not give any effect in calculation of the earnings per share as of June 30, 2024.
Segment reporting	(ee) Segment reporting The Company operates in one operating segment in accordance with ASC 280, Segment Reporting

ORGANIZATION (Tables)

ORGANIZATION (Tables)	6 Months Ended
ORGANIZATION (Tables)	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF BUSINESS COMBINATION	SCHEDULE OF BUSINESS COMBINATION Shares Legacy Chijet Shares 5,071,010 JWAC’s public shares, net of redemption 158,108 JWAC public shares converted from (1/8) JWAC rights at closing 57,500 JWAC sponsor shares 115,000 Shares issued to private placed shareholders and rights, and share-based compensation 50,125 Exercise of Greentree warrants 8,333 Total shares of ordinary shares outstanding immediately after the Business Combination 5,460,076
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 June 30, 2024, the subsidiaries of Chijet Motor were: SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES Date of Place of Percentage of ownership Principal 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 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)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Jun. 30, 2024
Accounting Policies [Abstract]
SCHEDULE OF RESTRICTED CASH	The restricted cash is presented separately on the consolidated balance sheets as follows: SCHEDULE OF RESTRICTED CASH June 30, 2024 December 31, 2023 US$’000 (Unaudited) US$’000 Frozen amount 104 1,378 Security amount 283 - Total restricted cash 387 1,378
SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS	The following table summarizes the activity in the allowance for expected credit loss for the six months ended June 30, 2024 and 2023, respectively. SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS For the six months ended June 30, 2024 US$’000 (Unaudited) Balance as of January 1, 2024 129 Current period provision - Reversal (8 ) Write-offs - Balance as of June 30, 2024 121 For the six months ended June 30, 2023 US$’000 (Unaudited) Balance as of December 31, 2022 - Adoption of ASC Topic 326 73 Balance as of January 1, 2023 73 Current period provision - Write-offs - Balance as of June 30, 2023 73
SCHEDULE OF ESTIMATED USEFUL LIFE	SCHEDULE OF ESTIMATED USEFUL LIFE Estimated 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 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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) (Audited) Accrued warranty - beginning of period/year 204 319 Warranty costs incurred 46 (106 ) Provision for warranty - - Translation adjustment (6 ) (9 ) Accrued warranty - end of period/year 244 204
SCHEDULE OF REVENUE	SCHEDULE OF REVENUE Related Parties Third Parties Related Parties Third Parties For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Related Parties Third Parties Related Parties Third Parties Vehicle sales $ - $ 3,161 $ 51 $ 2,041 Sales of vehicle parts and accessories $ 245 $ - $ 508 $ 3 Others $ - $ 1 $ - $ 12 Total revenues 245 3,162 559 2,056
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$’000 Type of Subsidies Accounting Treatment For the six months ended June 30, 2024 (Unaudited) No. US$’000 Type of Subsidies Accounting Treatment 1 1,426 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 280 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 1,706 No. US$’000 Type of Subsidies Accounting Treatment For the six months ended June 30, 2023 (Unaudited) No. US$’000 Type of Subsidies Accounting Treatment 1 1,542 Subsidies compensating for expenses or losses The government subsidy is recognized as government grant income when the amounts are received and conditions are met. 2 281 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 1,823

ACCOUNTS AND NOTES RECEIVABLE_2

ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)	6 Months Ended
ACCOUNTS AND NOTES RECEIVABLE, NET (Tables)	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Accounts receivable 3 20 Notes receivable 1,238 2,221 Less: allowance for credit losses - - Accounts and notes receivable, net 1,241 2,241

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	6 Months Ended
INVENTORY, NET (Tables)	Jun. 30, 2024
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY NET	Inventory consisted of the following: SCHEDULE OF INVENTORY NET June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Finished goods 6,316 3,665 Raw materials 15,803 15,720 Work-in-process 6,963 7,517 Inventory, subtotal 29,082 26,902 Less: inventory impairment provision (12,363 ) (12,117 ) Inventory, net 16,719 14,785

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	6 Months Ended
OTHER CURRENT ASSETS (Tables)	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
SCHEDULE OF OTHER CURRENT ASSETS	Other current assets consisted of the following: SCHEDULE OF OTHER CURRENT ASSETS June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Prepayments for materials 10,104 7,509 Prepayments for R&D 98 110 Prepayments for utilities 574 571 Other prepayments 343 341 Deductible value-added tax input 627 207 Other receivables 1,715 1,662 Subtotal 13,461 10,400 Less: allowance for bad debts (433 ) (449 ) Net balance 13,028 9,951

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	6 Months Ended
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) At cost: Buildings 165,276 169,170 Mold and tooling 99,218 101,563 Computer and electronic equipment 6,707 6,993 Machinery and equipment 254,532 263,587 Vehicles 942 1,204 Other logistic equipment 7,449 7,641 Construction in progress (i) 14,591 15,201 Property, plant and equipment, subtotal 548,715 565,359 Less: accumulated depreciation (ii) (379,298 ) (380,090 ) Less: accumulated impairment (iii) (3,004 ) (3,892 ) Property, plant and equipment, net (iv) 166,413 181,377 (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 six months ended June 30, 2024 and 2023 were US$ 10,605 18,329 (iii) There was no (iv) The carrying amounts of buildings, molds and tooling, machines and equipment and other logistic equipment pledged by FAW Jilin to secure the borrowings were US$ 52,271 58,584

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
INTANGIBLE ASSETS, NET (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	Intangible assets consisted of the following: SCHEDULE OF INTANGIBLE ASSETS June 30, 2024 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’000 US$’000 US$’000 (Unaudited) (Unaudited) (Unaudited) Finite-lived intangible assets: Computer software 461 (443 ) 18 Patent 203 (203 ) - Total finite-lived intangible assets 664 (646 ) 18 Indefinite-lived intangible assets: Trademark and manufacturing license 124,446 - 124,446 Total indefinite-lived intangible assets 124,446 - 124,446 Total intangible assets 125,110 (646 ) 124,464 December 31, 2023 Gross Carrying Accumulated Net Carrying Amount Amortization Amount US$’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
SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE INTANGIBLE ASSETS	As of June 30, 2024, the 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 (Unaudited) Six months ending December 31, 2024 15 2025 and thereafter 4 Total 19

LAND USE RIGHTS, NET (Tables)

LAND USE RIGHTS, NET (Tables)	6 Months Ended
LAND USE RIGHTS, NET (Tables)	Jun. 30, 2024
Land Use Rights Net
SCHEDULE OF LAND USE RIGHTS NET	Land use rights consisted of the following: SCHEDULE OF LAND USE RIGHTS NET June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Land use right 149,678 153,204 Less: accumulated amortization (27,982 ) (27,055 ) Land use right, net 121,696 126,149

OPERATING LEASES (EXCLUDING L_2

OPERATING LEASES (EXCLUDING LAND USE RIGHTS) (Tables)	6 Months Ended
OPERATING LEASES (EXCLUDING LAND USE RIGHTS) (Tables)	Jun. 30, 2024
Operating Leases
SUPPLEMENTAL CASH FLOWS INFORMATION	Supplemental cash flows information related to leases are as follows: SUPPLEMENTAL CASH FLOWS INFORMATION For the six months For the six months June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows payments for operating leases - - Right-of-use assets obtained in exchange for lease liabilities: Right-of-use assets obtained in exchange for new operating lease liabilities - -
SCHEDULE OF COST FOR OPERATING LEASES	The components of lease cost for operating leases were as follows: SCHEDULE OF COST FOR OPERATING LEASES For the six months For the six months June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Operating lease cost - - Short-term lease cost 450 841 Total lease cost 450 841

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
GOODWILL (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES	SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES US$’000 RMB’000 Assets acquired: Cash and cash equivalents 235,165 1,645,169 Accounts and notes receivable 111,511 780,105 Other receivable 262 1,829 Inventory 30,766 215,232 Property, plant and equipment, net 273,142 1,910,844 Equity investment 4,773 33,391 Intangible assets 129,315 904,663 Land use right 87,970 615,419 Prepayments and other assets, current and non-current 53,820 376,512 Total assets acquired 926,724 6,483,164 Liabilities and equity assumed Short-term borrowing (28,589 ) (200,000 ) Accounts and notes payable (160,346 ) (1,121,745 ) Contract liabilities (11,904 ) (83,276 ) Accounts and other liabilities (20,830 ) (145,725 ) Long-term payables (249,417 ) (1,744,870 ) Accrued post-employment and termination benefits (73,634 ) (515,130 ) Other payable, current and non-current (81,749 ) (571,898 ) Noncontrolling interest (88,575 ) (619,653 ) Total liabilities and equity assumed (715,044 ) (5,002,297 ) Net assets acquired 211,680 1,480,867 Goodwill 2,735 19,133 Total purchase price 214,415 1,500,000
SCHEDULE OF CARRYING AMOUNT OF GOODWILL	Changes in the carrying amount of goodwill consisted of the following: SCHEDULE OF CARRYING AMOUNT OF GOODWILL June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Beginning balance 2,695 2,774 Addition during the period/year - - Impairment during the period/year - - Translation adjustment (62 ) (79 ) Goodwill 2,633 2,695

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
OTHER ASSETS (Tables)	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER ASSETS	Other assets consisted of the following: SCHEDULE OF OTHER ASSETS June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Long-term deferred expenses 3,800 4,292 Total 3,800 4,292

ACCOUNTS AND NOTES PAYABLE (Tab

ACCOUNTS AND NOTES PAYABLE (Tables)	6 Months Ended
ACCOUNTS AND NOTES PAYABLE (Tables)	Jun. 30, 2024
Accounts And Notes Payable
SCHEDULE OF ACCOUNTS AND NOTES PAYABLE	Accounts and notes payable consisted of the following: SCHEDULE OF ACCOUNTS AND NOTES PAYABLE June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Accounts payable 19,718 14,824 Notes payable 283 - Total 20,001 14,824

CONTRACT LIABILITIES (Tables)

CONTRACT LIABILITIES (Tables)	6 Months Ended
CONTRACT LIABILITIES (Tables)	Jun. 30, 2024
Contract Liabilities
SCHEDULE OF CONTRACT LIABILITIES	SCHEDULE OF CONTRACT LIABILITIES June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Contract liabilities - beginning of period/year 5,008 3,654 A change in time frame for a performance obligation satisfied (6,405 ) (11,747 ) Advance received 5,511 13,205 Translation adjustment (115 ) (104 ) Contract liabilities - subtotal 3,999 5,008 Less: contract liabilities to related parties (1,360 ) (2,483 ) Contract liabilities - end of period/year 2,639 2,525

ACCRUALS AND OTHER CURRENT LI_2

ACCRUALS AND OTHER CURRENT LIABILITIES (Tables)	6 Months Ended
ACCRUALS AND OTHER CURRENT LIABILITIES (Tables)	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Payroll payable 6,294 6,876 Accrued post-employment and termination benefits - current portion 8,134 8,809 Business and other taxes payable 620 456 Accrued expenses 17,800 18,362 Other payable secured by acceptance draft 405 3,525 Other payable 12,484 9,400 Total 45,737 47,428

ACCRUED POST-EMPLOYMENT AND T_2

ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS (Tables)	6 Months Ended
ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS (Tables)	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 June 30, 2023 (Unaudited) (Unaudited) Discount rate 1.75 2.25 % 2.25 2.75 % 2.25 3.00 % Mortality rate (2010-2013) - CL5/CL6 up 2 years Annual withdrawal rate 3.00 % 3.00 % 3.00 % Annual increase rate of supplemental medical benefits 6.00 % 6.00 % 6.00 % Annual increase rate of social insurance, housing fund and EAP 8.00 % 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 six months ended June 30, 2024 and June 30, 2023 are as follows: SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Beginning of period 52,350 60,915 Service costs 39 32 Interest costs 554 745 Benefits paid (4,151 ) (4,334 ) Actuarial loss arising from changes in financial assumptions 134 (87 ) Past service costs - - Translation adjustment (1,181 ) (2,827 ) End of period 47,745 54,444
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 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) (Unaudited) End of period/year 47,745 52,350 Less: net amount due within one year (8,134 ) (8,809 ) Net amount due after one year 39,611 43,541
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 June 30, 2024 June 30, 2023 For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Service costs 39 32 Interest costs 554 745 Amortization of actuarial losses 6 - Amortization of past service cost 57 13 Net periodic benefit cost 656 790
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 June 30, 2024 June 30, 2023 For the six months ended June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Actuarial loss arising from changes in financial assumptions 157 35 Past service costs - - Amortization recognized in net period benefit cost (63 ) (13 ) Total 94 22

ORDINARY SHARES AND STATUTORY_2

ORDINARY SHARES AND STATUTORY RESERVE (Tables)	6 Months Ended
ORDINARY SHARES AND STATUTORY RESERVE (Tables)	Jun. 30, 2024
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 six months ended June 30, 2024: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price US$’000 Balance of warrants - December 31, 2023 148,334 $ 60 $ 8,900 Balance of warrants - June 30, 2024 148,334 $ 60 $ 8,900 Balance of warrants exercisable - June 30, 2024 148,334 $ 60 $ 8,900
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 as of December 31, 2022: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED At 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 six months ended June 30, 2024: SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING Weighted average Total Number unit price price US$’000 Balance of warrants - December 31, 2023 13,800 $ 360 $ 4,968 Balance of warrants – June 30, 2024 13,800 $ 360 $ 4,968
SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED	The Company used the following assumptions to estimate the fair value of warrants as of December 31, 2021: SCHEDULE OF ASSUMPTIONS TO ESTIMATE FAIR VALUE OF WARRANTS GRANTED At 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)	6 Months Ended
INCOME TAXES (Tables)	Jun. 30, 2024
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) June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) 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) June 30, 2024 June 30, 2023 US$’000 US$’000 (Unaudited) (Unaudited) Loss before income tax expenses (31,523 ) (57,591 ) Income tax benefits computed at the PRC statutory income tax rate of 25 (7,881 ) (14,398 ) Use of NOL (98 ) - Effect of additional deduction for qualified R&D expenses (269 ) (779 ) Effect of changes in asset value 332 584 Non-deductible expenses 48 84 Changes in valuation allowance and others 7,868 14,509 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) June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Deferred tax assets Net operating loss carryforwards 144,150 140,835 Accrued warranty 61 51 Accrued expenses 12,521 11,095 Investment loss 695 695 Inventory impairment 3,091 3,029 Fixed assets impairment provision 949 973 Bad debts (4 ) 80 Accrued payroll 11,936 13,088 Subtotal 173,399 169,846 Fair value change of fixed assets (9,804 ) (10,321 ) Fair value change of intangible assets (3,626 ) (3,763 ) Total deferred tax liabilities (13,430 ) (14,084 ) Net deferred tax assets 159,969 155,762 Less: valuation allowance (159,969 ) (155,762 ) Deferred tax assets, net of valuation allowance - -

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	6 Months Ended
RELATED PARTIES (Tables)	Jun. 30, 2024
Related Party Transactions [Abstract]
SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES	(b) The following tables indicate the transactions that have been entered into with related parties: SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES i) Balance Sheets As of June 30, 2024 (Unaudited) US$’000 Accounts Other Amounts Accounts Contract Accruals Loans Significantly influenced by the Company Jilin FAW Baosteel Auto Steel Parts Co., Ltd. - 191 - 158 - - - Jilin Jiqi-Longshan Automobile Chassis Co., Ltd - 904 - 351 - - - Non-controlling interest shareholder China FAW Co., Ltd. 2 - 43,430 142 - - - Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. - - - - - 1,325 3,816 Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. - - - - - 33,185 101,827 Nanjing Shengnuo Biotechnology Industry Company Ltd - - - - - 113 - Qiming Information Technology Co., Ltd. - - - 79 - 103 - FAW Bestune Car Co., Ltd. 86 - - 73 - - - FAW-Volkswagen Automobile Co., Ltd. 40 - - - - - - FAW Mould Manufacturing Co., Ltd. - 9 - 39,085 - - - FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. - - - 2,649 - 89 - FAW Logistics Co., Ltd. - - - 2,715 - - - Changchun FAW International Logistics Co., Ltd. - - - 366 - 617 - China FAW Group Co., Ltd. - - - - - 24,624 - China FAW Group Import & Export Co., Ltd. - - - 81 86 25 - FAW Finance Co., Ltd. - - - - - 24,509 158,448 Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. 55 - - - 457 - - Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd - - - - - 66 1,789 Jinan Haiyun Investment Consulting Co., Ltd - - - - - 105 1,376 Machinery Industry Ninth Design and Research Institute Co., Ltd. - 34 - 125 - - - FAW Bus (Dalian) Co., Ltd. - - - - 741 - - Other - 524 5 30 76 30 - Total 183 1,662 43,435 45,854 1,360 84,791 267,256 As of December 31, 2023 US$’000 Accounts Other Amounts Accounts Contract Accruals Loans 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
SCHEDULE OF FINANCING WITH RELATED PARTIES	(c) The following table indicates the financings that have been entered into with related parties: SCHEDULE OF FINANCING WITH RELATED PARTIES June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Affiliate of non-controlling interest shareholder Yantai Guofeng Investment Holding Group Co., Ltd. (i) 101,827 104,227 Nanjing Shengnuo Biotechnology Industry Company Ltd. (ii) - 1,127 FAW Finance Co., Ltd. (iii) 158,448 162,181 Non-controlling interest shareholder Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. (iv) 3,816 3,906 Significantly influenced by non-controlling interest shareholder Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd (v) 1,789 563 Jinan Haiyun Investment Consulting Co., Ltd (vi) 1,376 1,408 Total 267,256 273,412 (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 bear an interest rate of 10 344 757 (iii) During May 2020, FAW Jilin entered pledged loans with FAW Finance Co., Ltd. The loans bear interest of 3.915 2022 to 2025 39,612 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. In March 2022, pursuant to the loan agreement, Dezhou Jingtai 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 Dezhou Jingtai. Pursuant to the settlement agreement, the outstanding balance of US$4,641 thousand will bear an annual interest rate of 4.9% and will be repaid in four installments, with each payment amount of US$1,160 thousand on and before August 1, 2024. As of the March 24, 2023, the Company partially paid the first installment, which was due on February 1, 2023. In August 2023, Dezhou Yarui entered into an agreement with Dezhou Jingtai to settle the remaining amount 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 June 30, 2024 and December 31, 2023. (v) In August and October 2023, Shandong Baoya entered two loans totaling US$550 thousand with Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd.(“Jiankangdadi”). The loans bear interest of 10%. Of such loans, the due date of the US$413 thousand loan was December 31, 2023. The Company signed the agreements in January and June 2024 to extend the due date to December 31, 2024 and the interest rate decreased from 10% to 6%. The due date of the remaining US$137 thousand loan was extended from April 24, 2024 to October 23, 2024. On January 16, 2024, February 20, 2024, and March 25, 2024, Shandong Baoya entered three loans with Jiankangdadi. The loans bear interest of 6%. The total of the three loans was US$1,238 thousand. The due dates are January 15, 2025, January 28, 2025 and March 24, 2025. (vi) In August and September 2023, Shandong Baoya entered two loans amounting to US$1,376 thousand with Jinan Haiyun Investment Consulting Co., Ltd. The loans bear interest of 10%. The Company has signed an agreement to extend the due dates to August 22, 2024 and September 24, 2024, and the interest rate was decreased to 8%. In August 2024, the Company signed an agreement to extend the due date to February 22, 2025 and March 24, 2025 and the interest rate was decreased to 6%. June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) Collateralized by the FAW Jilin factory and land use right with the carrying value of US$ 61,326 64,942 48,162 49,297 Collateralized by the machinery and equipment, molds and tooling, other logistic equipment of FAW Jilin with carrying value of US$ 21,813 25,702 95,617 97,870 Collateralized by the machinery and equipment 95,617 97,870 Credit loan, no collateralized items. 14,669 15,014 Total 158,448 162,181 Loans attributable to related parties 158,448 162,181 (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. In March 2022, pursuant to the loan agreement, Dezhou Jingtai 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 Dezhou Jingtai. Pursuant to the settlement agreement, the outstanding balance of US$ 4,641 4.9 1,160 June 30, 2024 December 31, 2023 US$’000 US$’000 (Unaudited) 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 June 30, 2024 and December 31, 2023 were US$ 709 586 1,677 1,780 3,816 3,906 Collateralized amount 3,816 3,906 (v) In August and October 2023, Shandong Baoya entered two loans totaling US$ 550 10 413 10 6 137 April 24, 2024 to October 23, 2024 6 1,238 January 15, 2025 January 28, 2025 March 24, 2025 (vi) In August and September 2023, Shandong Baoya entered two loans amounting to US$ 1,376 10 August 22, 2024 September 24, 2024 8 February 22, 2025 and March 24, 2025 6
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 June 30, 2024 (Unaudited) Issued shares Cash US$’000 John Chiang 167 $ 50.00 Simon Pang 167 $ 50.00 Wen Li 167 $ 50.00 Ying Liu 167 $ 50.00 Total 668 $ 200.00

SCHEDULE OF BUSINESS COMBINATIO

SCHEDULE OF BUSINESS COMBINATION (Details) - Jupiter Wellness Acquisition Corp. [Member]	6 Months Ended
	Jun. 30, 2024 shares
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	5,460,076
Legacy Chijet Shares [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	5,071,010
JWACs public shares [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	158,108
JWAC Public Shares Converted [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	57,500
JWAC Sponsor Shares [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	115,000
Shares Issued to Private Placed Shareholders [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	50,125
Exercise of Greentree Warrants [Member]
Restructuring Cost and Reserve [Line Items]
Total shares of ordinary shares outstanding immediately after the Business Combination	8,333

SCHEDULE OF CONSUMMATION OF REV

SCHEDULE OF CONSUMMATION OF REVERSE RECAPITALIZATION (Details) - USD ($) $ in Thousands	Jun. 30, 2024	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)	6 Months Ended	12 Months Ended
SCHEDULE OF CONSOLIDATION OF SUBSIDIARIES (Details)	Jun. 30, 2024	Dec. 31, 2023
Baoya New Energy (Shandong) Co., Ltd [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&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&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
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				6 Months Ended		12 Months Ended
	Jun. 28, 2024	Jun. 01, 2023	Jun. 03, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jun. 27, 2024
Reverse stock split	1-for-30			1-for-30 reverse stock split		1-for-30 reverse stock split
Common stock, par value	$ 0.003			$ 0.003		$ 0.003
Common stock, shares authorized				10,000,000,000		500,000,000
Post reverse stock split common stock	16,666,667
Derceased in common stock, shares issued							160,707,171
Ordinary shares issued	5,471,661			5,471,661		5,471,661
Common stock shares outstanding				5,470,076		5,470,076
Ordinary shares description		(i) privately placed JWAC Common Stock holders of 16,434 shares, (ii) holders with JWAC’s privately placed right to receive (1/8) of ordinary shares, equivalent of 2,055 shares, (iii) I-banker privately placed 4,534 shares, (iv) I-banker with privately place right to receive (1/8) of ordinary shares, equivalent of 567 shares, (v) I-banker representative shares of 9,200, (vi) JWAC officers and directors of 10,000 shares, (vii) Chijet independent directors compensation of 668 shares, (viii) Greentree Financial Group Inc. (“Greentree”) of 6,667 shares due to the conversion of Shandong Baoya’s accrued expenses of $1,000,000 pursuant to the financial consulting agreements with Greentree, and 8,333 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 income loss				31,523	$ 57,591
Working capital deficit				445,881
Cash outflow operating activities				$ 16,261	$ 27,050
Shandong Baoya [Member]
Ordinary shares issued			1,795,977
Business acquired percentage			85.172%
Business acquired description			(1) WFOE acquired 17.245% stake in Shandong Baoya from two shareholders through 1,795,977 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]
Ordinary shares issued		5,460,076
Shares issued		57,500
Common stock shares outstanding		5,460,076
Shares issued		158,108
JWAC Public Shareholders [Member] \| Common Class B [Member]
Shares issued		58,458
JWAC Public Shareholders [Member] \| Common Class B [Member] \| Contingent Value Right [Member]
Shares issued		115,000
Sellers [Member]
Ordinary shares issued		5,071,010
Shares issued		8,870,095
Exchange ratio		0.5717%
Aggregate value		$ 1,600,000
Share price		$ 31.552
Redemption price values		$ 674,000

SCHEDULE OF RESTRICTED CASH (De

SCHEDULE OF RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 387	$ 1,378
Frozen Amount [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	104	1,378
Security Amount [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 283

SCHEDULE OF ALLOWANCE FOR EXPEC

SCHEDULE OF ALLOWANCE FOR EXPECTED CREDIT LOSS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Balance as of January 1, 2023	$ 129	$ 73
Current period provision
Reversal	(8)
Write-offs
Balance as of June 30, 2023	$ 121	73
Accounting Standards Update 2022-02 [Member]
Balance as of January 1, 2023		73
Previously Reported [Member]
Balance as of January 1, 2023

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIFE (Details)	Jun. 30, 2024
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)	Jun. 30, 2024
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	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Accrued warranty - beginning of period/year	$ 204	$ 319
Warranty costs incurred	46	(106)
Provision for warranty
Translation adjustment	(6)	(9)
Accrued warranty - end of period/year	$ 244	$ 204

SCHEDULE OF REVENUE (Details)

SCHEDULE OF REVENUE (Details) - USD ($) $ in Thousands	6 Months Ended
SCHEDULE OF REVENUE (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Related Party [Member]
Product Information [Line Items]
Total revenues	$ 245	$ 559
Related Party [Member] \| Vehicle Sales [Member]
Product Information [Line Items]
Total revenues		51
Related Party [Member] \| Sales of Vehicle Parts and Accessories [Member]
Product Information [Line Items]
Total revenues	245	508
Related Party [Member] \| Others [Member]
Product Information [Line Items]
Total revenues
Third Party [Member]
Product Information [Line Items]
Total revenues	3,162	2,056
Third Party [Member] \| Vehicle Sales [Member]
Product Information [Line Items]
Total revenues	3,161	2,041
Third Party [Member] \| Sales of Vehicle Parts and Accessories [Member]
Product Information [Line Items]
Total revenues		3
Third Party [Member] \| Others [Member]
Product Information [Line Items]
Total revenues	$ 1	$ 12

SCHEDULE OF GOVERNMENT SUBSIDY

SCHEDULE OF GOVERNMENT SUBSIDY (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Government Assistance [Line Items]
Government subsidies amount	$ 1,706	$ 1,823
Subsidy One [Member]
Government Assistance [Line Items]
Type of Subsidies	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.
Government subsidies amount	$ 1,426	$ 1,542
Subsidy Two [Member]
Government Assistance [Line Items]
Type of Subsidies	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.
Government subsidies amount	$ 280	$ 281

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Restricted cash		$ 387,000		$ 1,378,000
Disposal property plant and equipment		1,271,000	$ 21,000
Impairment of indefinite-lived intangible assets		0	0
Long term investments		3,582,000		3,699,000
Cost of revenues		7,567,000	16,725,000
Research and development expense		1,078,000	5,504,000
Selling and marketing expense		738,000	782,000
General and administrative expense		12,835,000	28,689,000
Employee benefit expenses		1,999,000	2,915,000
Government subsidies amount		1,706,000	1,823,000
Unrecognized uncertain tax positions		$ 0		$ 0
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$390.00 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.
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.
Business Combination Agreement [Member]
Property, Plant and Equipment [Line Items]
Ordinary shares		2,136,163
Exchange consideration		$ 674,000,000
Sales of Vehicles [Member]
Property, Plant and Equipment [Line Items]
VAT percentage for services		13%
Spare Parts [Member]
Property, Plant and Equipment [Line Items]
VAT percentage for services		6%
Other Services [Member]
Property, Plant and Equipment [Line Items]
VAT percentage for services		9%
Baosteel Auto Steel Parts Company Limited [Member]
Property, Plant and Equipment [Line Items]
Equity interest		30%		30%
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(c) and 22(d).

CONCENTRATION OF RISK (Details

CONCENTRATION OF RISK (Details Narrative) - Customer Concentration Risk [Member]	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Trade Accounts Receivable [Member] \| Customer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage	20%
Trade Accounts Receivable [Member] \| Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	20%
Trade Accounts Receivable [Member] \| Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage	12%
Trade Accounts Receivable [Member] \| Customer Four [Member]
Concentration Risk [Line Items]
Concentration risk percentage	11%
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%
Revenue Benchmark [Member] \| Customer One [Member]
Concentration Risk [Line Items]
Concentration risk percentage	23%	14%
Revenue Benchmark [Member] \| Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	11%	14%
Revenue Benchmark [Member] \| Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk percentage		11%

SCHEDULE OF ACCOUNTS AND NOTES

SCHEDULE OF ACCOUNTS AND NOTES RECEIVABLE NET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable	$ 3	$ 20
Notes receivable	1,238	2,221
Less: allowance for credit losses
Accounts and notes receivable, net	$ 1,241	$ 2,241

ACCOUNTS AND NOTES RECEIVABLE_3

ACCOUNTS AND NOTES RECEIVABLE, NET (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Allowance for credit losses

SCHEDULE OF INVENTORY NET (Deta

SCHEDULE OF INVENTORY NET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 6,316	$ 3,665
Raw materials	15,803	15,720
Work-in-process	6,963	7,517
Inventory, subtotal	29,082	26,902
Less: inventory impairment provision	(12,363)	(12,117)
Inventory, net	$ 16,719	$ 14,785

INVENTORY, NET (Details Narrati

INVENTORY, NET (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
INVENTORY, NET (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory write down	$ 1,772	$ 362

SCHEDULE OF OTHER CURRENT ASSET

SCHEDULE OF OTHER CURRENT ASSETS (Details) - Nonrelated Party [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Prepayments for materials	$ 10,104	$ 7,509
Prepayments for R&D	98	110
Prepayments for utilities	574	571
Other prepayments	343	341
Deductible value-added tax input	627	207
Other receivables	1,715	1,662
Subtotal	13,461	10,400
Less: allowance for bad debts	(433)	(449)
Net balance	$ 13,028	$ 9,951

SCHEDULE OF PLANT AND EQUIPMENT

SCHEDULE OF PLANT AND EQUIPMENT NET (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		$ 548,715	$ 565,359
Less: accumulated depreciation	[1]	(379,298)	(380,090)
Less: accumulated impairment	[2]	(3,004)	(3,892)
Property, plant and equipment, net	[3]	166,413	181,377
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		165,276	169,170
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		99,218	101,563
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		6,707	6,993
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		254,532	263,587
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		942	1,204
Other Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal		7,449	7,641
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, subtotal	[4]	$ 14,591	$ 15,201

[1]Depreciation expenses for the six months ended June 30, 2024 and 2023 were US$ 10,605 18,329 no 52,271 58,584

SCHEDULE OF PLANT AND EQUIPME_2

SCHEDULE OF PLANT AND EQUIPMENT NET (Details) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Depreciation	$ 10,605	$ 18,329
Asset impairment charges	0	$ 0
Carrying value amount	548,715		$ 565,359
FAW Jilin [Member]
Carrying value amount	$ 52,271		$ 58,584

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Apr. 30, 2024	Dec. 31, 2023
Carrying value amount	$ 548,715		$ 565,359
Xiangyang Yazhi New Energy Automobile Co., Ltd. [Member]
Carrying value amount	26,039	$ 119	28,581
Dezhou Yarui New Energy Automobile Co., Ltd. [Member]
Carrying value amount	$ 1,995		1,961
Bijie Yabei New Energy Automobile Co., Ltd. [Member]
Carrying value amount			$ 152

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Indefinite-Lived Intangible Assets [Line Items]
Finite lived intangible assets Gross Carrying Amount	$ 664	$ 680
Finite lived intangible assets Accumulated Amortization Amount	(646)	(647)
Finite lived intangible assets Net Carrying Amount	18	33
Indefinite lived intangible assets Gross Carrying Amount	124,446	127,378
Indefinite lived intangible assets Accumulated Amortization Amount
Indefinite lived intangible assets Net Carrying Amount	124,446	127,378
Intangible assets Gross Carrying Amount	125,110	128,058
Intangible assets Net Carrying Amount	124,464	127,411
Computer Software, Intangible Asset [Member]
Indefinite-Lived Intangible Assets [Line Items]
Finite lived intangible assets Gross Carrying Amount	461	472
Finite lived intangible assets Accumulated Amortization Amount	(443)	(439)
Finite lived intangible assets Net Carrying Amount	18	33
Patents [Member]
Indefinite-Lived Intangible Assets [Line Items]
Finite lived intangible assets Gross Carrying Amount	203	208
Finite lived intangible assets Accumulated Amortization Amount	(203)	(208)
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	124,446	127,378
Indefinite lived intangible assets Accumulated Amortization Amount
Indefinite lived intangible assets Net Carrying Amount	$ 124,446	$ 127,378

SCHEDULE OF ESTIMATED AMORTIZAT

SCHEDULE OF ESTIMATED AMORTIZATION EXPENSE INTANGIBLE ASSETS (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Six months ending December 31, 2024	$ 15
2025 and thereafter	4
Total	$ 19

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details Narrative) - USD ($)	6 Months Ended
INTANGIBLE ASSETS, NET (Details Narrative) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges were recognized on intangible assets	$ 0	$ 0
Amortization expense of intangible assets	$ 14,000	$ 41,000

SCHEDULE OF LAND USE RIGHTS NET

SCHEDULE OF LAND USE RIGHTS NET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Land Use Rights Net
Land use right	$ 149,678	$ 153,204
Less: accumulated amortization	(27,982)	(27,055)
Land use right, net	$ 121,696	$ 126,149

LAND USE RIGHTS, NET (Details N

LAND USE RIGHTS, NET (Details Narrative) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2019	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net	$ 121,696			$ 126,149
Amortization expense	1,552	$ 1,671
Operating Lease Arrangement [Member] \| Loans [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net	31,219			32,061
Operating Lease Arrangement [Member] \| Lenders [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net	$ 14,300			$ 14,811
Operating Lease Arrangement [Member] \| FAW Jilin [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Land use right, net			$ 88,380
Operating lease description			One lease is for commercial land use and expires in 2050. The other two leases 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 ($)	6 Months Ended
SUPPLEMENTAL CASH FLOWS INFORMATION (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Operating Leases
Operating cash flows payments for operating leases
Right-of-use assets obtained in exchange for new operating lease liabilities

SCHEDULE OF COST FOR OPERATING

SCHEDULE OF COST FOR OPERATING LEASES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Leases
Operating lease cost
Short-term lease cost	450	841
Total lease cost	$ 450	$ 841

SCHEDULE OF TANGIBLE AND INTANG

SCHEDULE OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES (Details) ¥ in Thousands, $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	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	$ 2,633	$ 2,695		$ 2,774
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	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	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, beginning balance	$ 2,695	$ 2,774
Addition during the period
Impairment during the period
Translation adjustment	(62)	(79)
Goodwill, ending balance	$ 2,633	$ 2,695

GOODWILL (Details Narrative)

GOODWILL (Details Narrative) ¥ in Thousands, $ in Thousands		6 Months Ended	12 Months Ended
GOODWILL (Details Narrative) ¥ in Thousands, $ in Thousands	Dec. 27, 2019 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 27, 2019 CNY (¥)
Restructuring Cost and Reserve [Line Items]
Purchase price	$ 214,415
Goodwill		$ 2,633	$ 2,695	$ 2,774
Impairment during the period
FAW Jilin [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill	$ 2,735				¥ 19,133

SCHEDULE OF OTHER ASSETS (Detai

SCHEDULE OF OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Long-term deferred expenses	$ 3,800	$ 4,292
Total	$ 3,800	$ 4,292

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Long-term deferred expenses	$ 3,800	$ 4,292

SCHEDULE OF ACCOUNTS AND NOTE_2

SCHEDULE OF ACCOUNTS AND NOTES PAYABLE (Details) - Nonrelated Party [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Accounts payable	$ 19,718	$ 14,824
Notes payable	283
Total	$ 20,001	$ 14,824

SCHEDULE OF CONTRACT LIABILITIE

SCHEDULE OF CONTRACT LIABILITIES (Details) - Nonrelated Party [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Contract liabilities - beginning of period/year	$ 5,008	$ 3,654
A change in time frame for a performance obligation satisfied	(6,405)	(11,747)
Advance received	5,511	13,205
Translation adjustment	(115)	(104)
Contract liabilities - subtotal	3,999	5,008
Less: contract liabilities to related parties	(1,360)	(2,483)
Contract liabilities - end of period/year	$ 2,639	$ 2,525

SCHEDULE OF ACCRUALS AND OTHER

SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Accrued post-employment and termination benefits - current portion	$ 8,134	$ 8,809
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Payroll payable	6,294	6,876
Accrued post-employment and termination benefits - current portion	8,134	8,809
Business and other taxes payable	620	456
Accrued expenses	17,800	18,362
Other payable secured by acceptance draft	405	3,525
Other payable	12,484	9,400
Total	$ 45,737	$ 47,428

LONG-TERM PAYABLES, CURRENT (De

LONG-TERM PAYABLES, CURRENT (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Long-term payables, current	$ 95,580	$ 97,832
Long-term debt penalty	$ 720
Cost of land use right	5%
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Carrying amount			$ 11,101
Building [Member]
Property, Plant and Equipment [Line Items]
Carrying amount			14,938
Land [Member]
Property, Plant and Equipment [Line Items]
Carrying amount			$ 13,909

PROMISSORY NOTE PAYABLE (Detail

PROMISSORY NOTE PAYABLE (Details Narrative) - USD ($)	12 Months Ended
PROMISSORY NOTE PAYABLE (Details Narrative) - USD ($)	Dec. 31, 2014	Jun. 30, 2024	Mar. 06, 2023	Dec. 05, 2022	Sep. 11, 2018
Debt Instrument [Line Items]
Principal amount			$ 1,180,000	$ 1,380,000
Bijie Yabei New Energy Automobile Co., Ltd. [Member]
Debt Instrument [Line Items]
Principal amount	$ 1,376,000
Debt interest rate					6%
Fixed assets sold	$ 171,000
Outstanding principal amount		$ 0
Secured Promissory Note and Pledge Agreement [Member]
Debt Instrument [Line Items]
Contingency 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 of US$1,376 thousand 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. In 2019, the court of second instance upheld the original judgment, and Bijie Yabei was obligated to repay the loan principal and interest calculated at an annual rate of 6% from September 11, 2018, until the date of repayment.

SCHEDULE OF ASSUMPTIONS USED FO

SCHEDULE OF ASSUMPTIONS USED FOR ACTUARIAL VALUATIONS (Details)		6 Months Ended		12 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Mortality rate, description	[1]	(2010-2013) - CL5/CL6 up 2 years	(2010-2013) - CL5/CL6 up 2 years	(2010-2013) - CL5/CL6 up 2 years
Annual withdrawal rate		3%	3%	3%
Annual increase rate of supplemental medical benefits		6%	6%	6%
Actuarial valuations, rate		8%	8%	8%
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate		1.75%	2.25%	2.25%
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate		2.25%	3%	2.75%

[1]China Life Insurance Mortality Table (2010-2013)

SCHEDULE OF RETIREMENT AND SUPP

SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATIONS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Balance	$ 52,350	$ 60,915
Service costs	39	32
Interest costs	554	745
Benefits paid	(4,151)	(4,334)
Actuarial loss arising from changes in financial assumptions	134	(87)
Past service costs
Translation adjustment	(1,181)	(2,827)
Balance	$ 47,745	$ 54,444

SCHEDULE OF RETIREMENT AND SU_2

SCHEDULE OF RETIREMENT AND SUPPLEMENTAL BENEFIT OBLIGATION IN CONSOLIDATED BALANCE SHEET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
End of period/year	$ 47,745	$ 52,350
Less: net amount due within one year	(8,134)	(8,809)
Net amount due after one year	$ 39,611	$ 43,541

SCHEDULE OF CONSOLIDATED STATEM

SCHEDULE OF CONSOLIDATED STATEMENTS OF OPERATIONS COMPONENTS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Service costs	$ 39	$ 32
Interest costs	554	745
Amortization of actuarial losses	6
Amortization of past service cost	$ 57	$ 13
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
Net periodic benefit cost	$ 656	$ 790

SCHEDULE OF AMOUNTS RECORDED IN

SCHEDULE OF AMOUNTS RECORDED IN CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Actuarial loss arising from changes in financial assumptions	$ 157	$ 35
Past service costs
Amortization recognized in net period benefit cost	(63)	(13)
Total	$ 94	$ 22

ACCRUED POST-EMPLOYMENT AND T_3

ACCRUED POST-EMPLOYMENT AND TERMINATION BENEFITS (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Retirement Benefits [Abstract]
Non-current liabilities	$ 39,611		$ 43,541
Accrued post-employment and termination benefits	8,134		$ 8,809
Cash payments	$ 4,151	$ 4,334

SUMMARY OF CHANGES IN NUMBER OF

SUMMARY OF CHANGES IN NUMBER OF WARRANTS OUTSTANDING (Details) $ / shares in Units, $ in Thousands	Jun. 30, 2024 USD ($) $ / shares shares
GT Warrants [Member]
Number of shares warrants outstanding balance \| shares	148,334
Weighted sverage unit price balance \| $ / shares	$ 60
Number of shares warrants, Total price outstanding balance \| $	$ 8,900
Number of shares warrants outstanding balance \| shares	148,334
Weighted sverage unit price balance \| $ / shares	$ 60
Number of shares warrants, Total price outstanding balance \| $	$ 8,900
Number of shares warrants exercisable balance \| shares	148,334
Weighted sverage unit price, exercisable balance \| $ / shares	$ 60
Number of shares warrants, Total price exercisable balance \| $	$ 8,900
I-Bankers Warrants [Member]
Number of shares warrants outstanding balance \| shares	13,800
Weighted sverage unit price balance \| $ / shares	$ 360
Number of shares warrants, Total price outstanding balance \| $	$ 4,968
Number of shares warrants outstanding balance \| shares	13,800
Weighted sverage unit price balance \| $ / shares	$ 360
Number of shares warrants, Total price outstanding balance \| $	$ 4,968

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) - USD ($)				6 Months Ended	11 Months Ended	12 Months Ended
	Jun. 28, 2024	Jun. 01, 2023	Dec. 09, 2021	Jun. 30, 2024	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023	Mar. 06, 2023	Dec. 05, 2022	Feb. 15, 2022
Common stock, shares issued	5,471,661			5,471,661		5,471,661
Common stock, par value	$ 0.003			$ 0.003		$ 0.003
Common stock, shares outstanding				5,470,076		5,470,076
Reverse stock split	1-for-30			1-for-30 reverse stock split		1-for-30 reverse stock split
Warrant exercise price			$ 78.78
Fair value of warrants			$ 1,087,000		$ 22,900,000
Fair value of warrants adjustments to additional paid in capital							$ 22,900,000
Principal amount									$ 1,180,000	$ 1,380,000
Treasury stock, common shares		1,585		1,585		1,585
Accumulated balance of statutory reserves				$ 6,656,000		$ 6,656,000
Accumulated balance of special reserves				631,000		574,000
Restricted net asset				148,357,000		$ 148,301,000
CHINA
Accumulated balance of statutory reserves				$ 0				$ 0
Common Class A [Member]
Warrants to purchase shares			13,800
Warrant exercise price			$ 360
Common Stock [Member]
Warrant exercise price			$ 360
Warrants exercisable term			5 years
Treasury Stock, Common [Member]
Common stock, par value		$ 0.003
Repaid of treasury stock		$ 500,000
Treasury stock, common shares		1,585
Proceeds from Promissory Notes redemption price		$ 2,060,000
Shandong Baoya [Member] \| Common Stock [Member]
Warrants to purchase shares											166,667
Warrant exercise price											$ 60
Chijet, Inc. [Member]
Common stock, shares issued		5,071,010
Common stock, par value		$ 0.003

SCHEDULE OF INCOME TAX (BENEFIT

SCHEDULE OF INCOME TAX (BENEFITS) (Details) - USD ($)	6 Months Ended
SCHEDULE OF INCOME TAX (BENEFITS) (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
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)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
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%

SCHEDULE OF RECONCILIATIONS O_2

SCHEDULE OF RECONCILIATIONS OF INCOME TAX EXPENSES (BENEFITS) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Loss before income tax expenses	$ (31,523)	$ (57,591)
Income tax benefits computed at the PRC statutory income tax rate of 25%	(7,881)	(14,398)
Use of NOL	(98)
Effect of additional deduction for qualified R&D expenses	(269)	(779)
Effect of changes in asset value	332	584
Non-deductible expenses	48	84
Changes in valuation allowance and others	7,868	14,509
Income tax expenses

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 144,150	$ 140,835
Accrued warranty	61	51
Accrued expenses	12,521	11,095
Investment loss	695	695
Inventory impairment	3,091	3,029
Fixed assets impairment provision	949	973
Bad debts	(4)	80
Accrued payroll	11,936	13,088
Subtotal	173,399	169,846
Fair value change of fixed assets	(9,804)	(10,321)
Fair value change of intangible assets	(3,626)	(3,763)
Total deferred tax liabilities	(13,430)	(14,084)
Net deferred tax assets	159,969	155,762
Less: valuation allowance	(159,969)	(155,762)
Deferred tax assets, net of valuation allowance

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) $ in Thousands, $ in Millions		6 Months Ended
	Dec. 29, 2017 HKD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023	Dec. 31, 2023 USD ($)
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate		25%
Income tax losses		$ 144,150		$ 140,835
CHINA
Operating Loss Carryforwards [Line Items]
Income tax losses		$ 576,598
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%

SCHEDULE OF BALANCE SHEETS TRAN

SCHEDULE OF BALANCE SHEETS TRANSACTIONS WITH RELATED PARTIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Jilin FAW Baosteel Auto Steel Parts Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current	191	421
Other Receivables
Accounts Payable, Current	158
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current		3
Loans attributable to related parties
Jilin Jiqi-Longshan Automobile Chassis Co., Ltd [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current	904	1,847
Other Receivables
Accounts Payable, Current	351
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
China FAW Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	2	3
Other Assets, Current
Other Receivables	43,430	48,699
Accounts Payable, Current	142	184
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	1,325	1,142
Loans attributable to related parties	3,816	3,906
Yantai Guofeng Investment Holding Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	33,185	30,542
Loans attributable to related parties	101,827	104,227
Nanjing Shengnuo Biotechnology Industry Company Ltd [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	113	69
Loans attributable to related parties		1,127
Qiming Information Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current	79	81
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	103	111
Loans attributable to related parties
FAW Bestune Car Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	86	164
Other Assets, Current
Other Receivables
Accounts Payable, Current	73	75
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
FAW-Volkswagen Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	40	16
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
FAW Mould Manufacturing Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current	9
Other Receivables
Accounts Payable, Current	39,085	39,996
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
FAW Logistics (Changchun Lushun) Storage and Transportation Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current	2,649	2,712
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	89	91
Loans attributable to related parties
FAW Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current	2,715	2,779
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
Changchun FAW International Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current	366	374
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	617	631
Loans attributable to related parties
China FAW Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	24,624	25,204
Loans attributable to related parties
China FAW Group Import & Export Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current		25
Other Assets, Current
Other Receivables
Accounts Payable, Current	81	83
Contract with Customer, Liability, Current	86	119
Accounts Payable and Other Accrued Liabilities, Current	25	26
Loans attributable to related parties
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	24,509	20,565
Loans attributable to related parties	158,448	162,181
Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	55
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current	457	1,527
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	66	21
Loans attributable to related parties	1,789	563
Jinan Haiyun Investment Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current	105	34
Loans attributable to related parties	1,376	1,408
Machinery Industry Ninth Design and Research Institute Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current	34
Other Receivables
Accounts Payable, Current	125	878
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
FAW Bus (Dalian) Co., Ltd. [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current	741	758
Accounts Payable and Other Accrued Liabilities, Current
Loans attributable to related parties
Other [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current	524	458
Other Receivables	5	49
Accounts Payable, Current	30	30
Contract with Customer, Liability, Current	76	79
Accounts Payable and Other Accrued Liabilities, Current	30	4
Loans attributable to related parties
Related Party [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	183	208
Other Assets, Current	1,662	2,786
Other Receivables	43,435	48,748
Accounts Payable, Current	45,854	47,192
Contract with Customer, Liability, Current	1,360	2,483
Accounts Payable and Other Accrued Liabilities, Current	84,791	78,495
Loans attributable to related parties	$ 267,256	273,412
John Chiang [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current		15
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current		13
Loans attributable to related parties
Simon Pang [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current		15
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current		13
Loans attributable to related parties
Wen Li [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current		15
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current		13
Loans attributable to related parties
Ying Liu [Member]
Related Party Transaction [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current
Other Assets, Current		15
Other Receivables
Accounts Payable, Current
Contract with Customer, Liability, Current
Accounts Payable and Other Accrued Liabilities, Current		13
Loans attributable to related parties

SCHEDULE OF OPERATIONS TRANSACT

SCHEDULE OF OPERATIONS TRANSACTIONS WITH RELATED PARTIES (Details) ¥ in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 CNY (¥)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 CNY (¥)
Related Party Transaction [Line Items]
Sale of goods	$ 3,407		$ 2,615
Purchase of goods	7,567		16,725
Jilin FAW Baosteel Auto Steel Parts Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods	4,322		173
Interest Expense
Jilin Jiqi-Longshan Automobile Chassis Co., Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods	164		164
Purchase of goods			843
Interest Expense
China FAW Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	39
Purchase of goods
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	94	¥ 678	112	¥ 779
Yantai Guofeng Investment Holding Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	3,370		3,490
Nanjing Shengnuo Biotechnology Industry Company Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	46		10
Qiming Information Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods	46		4
Interest Expense
FAW Bestune Car Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods			1
Interest Expense
FAW-Volkswagen Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods	42		96
Purchase of goods
Interest Expense
China FAW Technology Center [Member]
Related Party Transaction [Line Items]
Sale of goods			248
Purchase of goods
Interest Expense
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	4,449		3,871
FAW Logistics Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods
Changchun Wisdom Bus Branch of FAW Jiefang Automobile Co., Ltd. [Member]
Related Party Transaction [Line Items]
Sale of goods			51
Purchase of goods
Interest Expense
Shandong Zhanpuce Management Consulting [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense			8
Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	46
Jinan Haiyun Investment Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods
Interest Expense	72
Other [Member]
Related Party Transaction [Line Items]
Sale of goods
Purchase of goods	80		80
Interest Expense
Related Party [Member]
Related Party Transaction [Line Items]
Sale of goods	245		559
Purchase of goods	4,448		1,101
Interest Expense	$ 8,077		$ 7,491

SCHEDULE OF FINANCING WITH RELA

SCHEDULE OF FINANCING WITH RELATED PARTIES (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Yantai Guofeng Investment Holding Group Co., Ltd. [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[1]	$ 101,827	$ 104,227
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]	158,448	162,181
Collateralized amount		48,162	49,297
Collateralized by the machinery and equipment		95,617	97,870
Credit loan, no collateralized items.		14,669	15,014
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[4]	3,816	3,906
Collateralized amount		3,816	3,906
Shandong Jiankangdadi Enterprise Management Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[5]	1,789	563
Jinan Haiyun Investment Consulting Co., Ltd [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties	[6]	1,376	1,408
Related Party [Member]
Related Party Transaction [Line Items]
Loans attributable to related parties		$ 267,256	$ 273,412

[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 10 344 757 3.915 2022 to 2025 39,612 5.0895 3.915

SCHEDULE OF FINANCING WITH RE_2

SCHEDULE OF FINANCING WITH RELATED PARTIES (Details) (Parenthetical) - USD ($) $ in Thousands

1 Months Ended

6 Months Ended

12 Months Ended

Jun. 04, 2024

May 16, 2024

Mar. 25, 2024

Feb. 20, 2024

Jan. 16, 2024

May 31, 2020

Aug. 31, 2024

Oct. 31, 2023

Sep. 30, 2023

Aug. 31, 2023

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2023

Dec. 31, 2016

Jan. 31, 2024

May 31, 2023

Nov. 01, 2022

Dec. 31, 2019

Related Party Transaction [Line Items]

Land use right

$ 121,696

$ 126,149

Property and equipment

[1]

166,413

181,377

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

Related Party Transaction [Line Items]

Outstanding balance

[2]

101,827

104,227

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

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

Related Party Transaction [Line Items]

Interest rate

10%

Repayment of loans

$ 757

$ 344

FAW Finance Co., Ltd. [Member]

Related Party Transaction [Line Items]

Interest rate

3.915%

Debt maturity description

November 1, 2022 to November 1, 2025

Outstanding balance

[4]

$ 158,448

162,181

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

Related Party Transaction [Line Items]

Interest rate

3.915%

5.0895%

Debt maturity description

2022 to 2025

Installment payments

$ 39,612

Land use right

61,326

64,942

Property and equipment

$ 21,813

25,702

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

Related Party Transaction [Line Items]

Interest rate

4.90%

Debt maturity description

August 1, 2024

Outstanding balance

[5]

$ 3,816

3,906

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

Related Party Transaction [Line Items]

Installment payments

$ 1,160

Property and equipment

709

586

Borrowings

1,677

1,780

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

Related Party Transaction [Line Items]

Interest rate

4.90%

Outstanding balance

$ 4,641

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

Related Party Transaction [Line Items]

Outstanding balance

[6]

$ 1,789

$ 563

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

Related Party Transaction [Line Items]

Interest rate

10%

Repayment of loans

$ 413

Debt maturity description

April 24, 2024 to October
23, 2024

Proceeds from loans

$ 1,238

$ 550

Remaining loans

$ 137

Debt maturity date

Mar. 24, 2025

Jan. 28, 2025

Jan. 15, 2025

Jinan Haiyun Investment Consulting Co., Ltd [Member]

Related Party Transaction [Line Items]

Outstanding balance

[7]

$ 1,376

$ 1,408

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

Related Party Transaction [Line Items]

Interest rate

10%

Proceeds from loans

$ 1,376

Debt maturity date

Sep. 24, 2024

Aug. 22, 2024

Interest rate decrease

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

Related Party Transaction [Line Items]

Interest rate

Debt maturity description

February
22, 2025 and March 24, 2025

[1]The carrying amounts
of buildings, molds and tooling, machines and equipment and other logistic equipment pledged by FAW Jilin to secure the borrowings were
US$ 52,271 58,584 6.5 nil 10 344 757 3.915 2022 to 2025 39,612 5.0895 3.915

SCHEDULE OF COMPENSATION TO REL

SCHEDULE OF COMPENSATION TO RELATED PARTIES (Details)	6 Months Ended
SCHEDULE OF COMPENSATION TO RELATED PARTIES (Details)	Jun. 30, 2024 USD ($) shares
Related Party Transaction [Line Items]
Compensation issued shares \| shares	668
Compensation cash \| $	$ 200,000
John Chiang [Member]
Related Party Transaction [Line Items]
Compensation issued shares \| shares	167
Compensation cash \| $	$ 50,000
Simon Pang [Member]
Related Party Transaction [Line Items]
Compensation issued shares \| shares	167
Compensation cash \| $	$ 50,000
Wen Li [Member]
Related Party Transaction [Line Items]
Compensation issued shares \| shares	167
Compensation cash \| $	$ 50,000
Ying Liu [Member]
Related Party Transaction [Line Items]
Compensation issued shares \| shares	167
Compensation cash \| $	$ 50,000

RELATED PARTIES (Details Narrat

RELATED PARTIES (Details Narrative) $ / shares in Units, ¥ in Thousands, $ in Thousands			6 Months Ended
	Jun. 01, 2023 $ / shares shares	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 CNY (¥) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2023 CNY (¥)
Related Party Transaction [Line Items]
Share-Based Payment Arrangement, Noncash Expense			$ 60		$ 3,121
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture \| shares			668	668
Accrued compensation costs			$ 200
Independent Director Four [Member]
Related Party Transaction [Line Items]
Share-Based Payment Arrangement, Noncash Expense			100
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture \| shares	167
Shares Issued, Price Per Share \| $ / shares	$ 300
Independent Director Four [Member] \| Stock Equivalent [Member]
Related Party Transaction [Line Items]
Share-Based Payment Arrangement, Noncash Expense			50
Independent Director Four [Member] \| Cash [Member]
Related Party Transaction [Line Items]
Share-Based Payment Arrangement, Noncash Expense			$ 50
Four Independent Directors [Member] \| Cash [Member] \| Arrears on Semi-annual Basis [Member]
Related Party Transaction [Line Items]
Share-Based Payment Arrangement, Noncash Expense		$ 25
FAW Finance Co., Ltd. [Member]
Related Party Transaction [Line Items]
Maturity date, description			November 1, 2022 to November 1, 2025	November 1, 2022 to November 1, 2025
Interest rate			3.915%
Default principal rate			5.0895%
Interest expense			$ 4,449		3,871
Dezhou Economic and Tech Development Zone Jingtai Investment Co., Ltd. [Member]
Related Party Transaction [Line Items]
Maturity date, description			August 1, 2024	August 1, 2024
Interest rate			4.90%
Interest expense			$ 94	¥ 678	$ 112	¥ 779
Other payable

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contractual commitment	$ 43,524
Due with in one year	23,291
Production and Development Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contractual commitment	2,088	$ 6,029
Purchase commitment amount	$ 483

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - USD ($)					6 Months Ended		12 Months Ended
SUBSEQUENT EVENT (Details Narrative) - USD ($)		Aug. 06, 2024	Jul. 08, 2024	Jun. 28, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jun. 27, 2024
Subsequent Event [Line Items]
Reverse stock split				1-for-30	1-for-30 reverse stock split		1-for-30 reverse stock split
Common stock, par value				$ 0.003	$ 0.003		$ 0.003
Common stock, shares issued								160,707,171
Common stock, shares issued				5,471,661	5,471,661		5,471,661
Offering, issuance, and sale	[1]					$ 200,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Reverse stock split			1-for-30 reverse stock split
Common stock, shares issued			5,471,661
Subsequent Event [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Offering, issuance, and sale		$ 200,000,000

[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(c) and 22(d).