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.
The new facility will enable the Company to become more vertically integrated with the potential to insource several procedures which are currently outsourced in California due to the expensive and arduous permitting and compliance environment in that state. Beam Global anticipates that insourcing these processes will further reduce costs, risks and complexity from the manufacturing process, improving gross margins and reducing cash used in operations at any given product volume.
"This relocation is one of the most impactful steps we can take to improve our gross margins and move more quickly toward becoming cash flow positive while positioning ourselves for significant growth and saving money," said Desmond Wheatley, CEO of Beam Global. "The option to purchase at a favorable price, and at a time of our choosing, will allow us to further improve our economics through operating rent free without lease liabilities and with an enhanced balance sheet, just as we do at Beam Europe. We will continue to design and manufacture our innovative products here in the U.S., but doing so in Arizona allows us to operate far more efficiently and to scale as demand for our energy storage and security, transportation and smart city solutions continue to grow. We are de-risking our business and dramatically reducing our costs. Great news for our customers, our employees and our shareholders."
The Greater Yuma region boasts a skilled and diverse workforce ready to meet the needs of today’s most demanding industries. From advanced manufacturing and aerospace to agriculture technology and logistics, Yuma’s talent pipeline is fueled by top-tier educational institutions, specialized training programs, and a strong commitment to workforce development. Businesses relocating or expanding to Yuma benefit from a dynamic labor market that combines technical expertise, bilingual proficiency, and a strong work ethic. With a community dedicated to fostering innovation and growth, Yuma provides the talent businesses needs to thrive.
Arizona is home to advanced manufacturing global giants in key sectors such as automotive and electric vehicles, solar, and clean & renewable energy. With an abundant supply of industry titans, natural resources, reliable energy and workforce, Arizona is positioned to be the hub for battery and energy storage manufacturing in the nation.
For more information about Beam Global’s solutions, visit www.BeamForAll.com or contact BeamTeam@BeamForAll.com.
About Beam Global
Beam Global is a sustainable technology innovator which develops and manufactures infrastructure products and technologies. We operate at the nexus of innovative and reliable energy, transportation and smart cities solutions with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage, energy security and intelligent Infrastructure. With operations in the U.S., Europe and the Middle East, Beam Global develops, patents, designs, engineers and manufactures unique and advanced innovative technology solutions that power transportation, provide secure sources of electricity, enable Smart City services, save time and money, and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL, Belgrade and Kraljevo, Serbia and Abu Dhabi, UAE. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit, BeamForAll.com, LinkedIn, YouTube, Instagram and X.
Forward-Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may," or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.
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