Item 2. Properties
ITEM 2. Properties
Our corporate headquarters are located in Herziliya Pituach, Israel.
Leased Offices and R&D Laboratories
As of December 31, 2025, we lease office, testing, and product design facilities in Israel. In May 2021, we signed a long-term lease agreement for the development of a 38,000 square meter campus, to be built on 16,500 square meters of land, in the central area of Israel. The campus, which is scheduled to be completed in by the end of 2026, will replace our current headquarters in Herziliya, Israel. In November 2025, we amended our agreement with Azrieli Group Ltd., the developer of our new campus, to reduce the leased area by approximately 40%.
In addition to our leased properties in Israel, we lease offices and lab facilities in California, Nevada, Germany, Netherlands, Italy, China, France, Australia, the United Kingdom, Japan, India, Bulgaria, Taiwan, Korea, Brazil, Spain, Vietnam, and Poland.
Manufacturing
We outsource most of our manufacturing to our manufacturing partners. We have our own manufacturing facility, Sella 1 (which property is leased), in the North of Israel. On September 4, 2025, as part of the decision to close our Energy Storage Division, we sold our last battery cell manufacturing facility in South Korea.
We believe that our existing properties are in good condition and are sufficient and suitable for the conduct of our business for the foreseeable future. To the extent our needs change as our business grows, we expect that additional space and facilities will be available on commercially reasonable terms.
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