Chijet Motor Company Inc. released its annual report for the fiscal year ending December 31, 2024. The company reported a decline in total revenues, which amounted to $6.915 million in 2024, down from $9.483 million in 2023 and $14.961 million in 2022. Vehicle sales contributed $6.396 million to the total revenues in 2024, decreasing from $7.680 million in 2023 and $11.630 million in 2022. Sales of vehicle parts, accessories, and others also saw a decline, totaling $519,000 in 2024, compared to $1.803 million in 2023 and $3.331 million in 2022. The company outlined plans to reduce single-vehicle costs by 7% to 10% over the next three years through cooperation with core parts suppliers, bulk purchasing, and bidding negotiations for non-core components. It also intends to enhance production efficiency and product quality by implementing lean production management and strengthening 6S management of production bases.
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