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Beam Global Relocates Manufacturing Operations to Yuma, AZ
Significant Economic Benefits Include Rent Savings of $2.7M During TermSAN DIEGO, June 25, 2026 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for transportation, energy security and smart cities infrastructure, today announced that it will relocate its California manufacturing and production operations to Yuma, Arizona. The Company intends to maintain its corporate headquarters in San Diego, California. Beam Global’s ma
About this update from Beam Global
Significant Economic Benefits Include Rent Savings of $2.7M During Term SAN DIEGO, June 25, 2026 (GLOBE NEWSWIRE) -- Beam Global , (Nasdaq: BEEM ), a leading provider of innovative and sustainable infrastructure solutions for transportation, energy security and smart cities infrastructure, today announced that it will relocate its California manufacturing and production operations to Yuma, Arizona. The Company intends to maintain its corporate headquarters in San Diego, California. Beam Global's manufacturing and office facilities in Chicago IL, Belgrade and Kraljevo, Serbia and Abu Dhabi in the Middle East, will continue to operate without change. The new Yuma campus consists of two adjacent industrial buildings, totaling approximately 55,000 square feet of office and manufacturing space. Beam Global will occupy the first building on July 15, 2026, and the second on January 1, 2027, under lease terms extending through July 31, 2031. The Company has the right to purchase the property at a favorable fixed price throughout the term of the lease. Production will continue without interruption during the transition. The relocation is expected to improve Beam Global's gross margins by lowering its cost of production. The Company anticipates rent savings of approximately $400,000 in 2026 and $2.7 million over the five-year lease term compared to current rent in San Diego, California. Beam Global also expects to benefit from Arizona's more affordable overall cost environment, including labor, benefits, insurance, utilities, regulatory and other operating costs. Further financial benefits may be realized through various incentive programs offered by the city of Yuma and the state of Arizona. Together, these improvements are expected to accelerate the Company's continued progress toward higher gross profit and cash flow positive operations. Beam Global's new Yuma factory is located in a manufacturing zone with favorable access to road and rail connections. Management anticipates reduced shipping costs to further enhance the economic benefits of the move. The Company's manufacturing employees will benefit from lower state income taxes and a lower cost of living, especially where housing costs are concerned. The close proximity to Yuma Marine Corps Air Station will enable the Company to continue to source veteran employees and local data shows that access to manufacturing employees, in general, will be improved when compared to the San Diego region. Management considers this to be an important metric due to anticipated growth in sales.