Sales-type Lease Receivable

6 Months Ended

Jun. 30, 2024

Sales-type Lease Receivable

Sales-type Lease Receivable

9. Sales-type Lease Receivable

The Group entered into a total of ten vehicle lease agreements with certain customers during the year ended December 31, 2023 and the Group delivered vehicles under sales-type leases.

Sales-type lease receivables-short term as of June 30, 2024 and December 31, 2023 was $272 and $249, respectively, and sales-type lease receivables-long term as of June 30, 2024 and December 31, 2023 was $119 and $230, respectively.

Interest income recognized for sales-type leases for the six months ended June 30, 2024 was $13.

	As of June 30
	2024
Lease receivables-long term		119
Lease receivables-short term		272
Total lease receivables		391
Unguaranteed residual assets		—
Net investment in leases		391
Recorded in Prepaid expenses and other current assets		272
Recorded in Net investment in leases- non-current		119

Annual minimum undiscounted lease payments under the Group’s leases were as follows as of June 30, 2024:

	Sales-type
Remaining of 2024		151
Years Ending December 31,
2025		184
2026		54
2027		15
2028 and thereafter		—
Total lease receipt payments		404
Less: Imputed interest		(13	)
Total lease receivables (1)		391
Unguaranteed residual assets		—
Net investment in leases (1)		391

(1) Current portion of $272 of total lease receivables included in prepaid expenses and other current assets, net on the consolidated balance sheet.