Company: REE
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025661
Chunk: 195

Company: REE Automotive Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 195
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:                                                                 
  Imputed interest                                               4,420  
  Present value of lease liabilities      $                     17,886  

F-21

Table of Contents

REE AUTOMOTIVE LTD. AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

U. S. dollars in thousands (except share and per share data)

NOTE 6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net at December 31, 2024 and 2023, respectively, consists of:

                                                        December 31, 2024                  December 31, 2023              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Computers and software                                $                       4,208      $                       3,823  
  Furniture and fixtures                                                        1,291                              1,291  
  Machinery and equipment                                                      14,011                             13,985  
  Vehicles                                              173                                173                            
  Demonstration vehicles                                800                                —                              
  Leasehold improvements                                                        1,308                              1,308  
  Construction in progress (1)                                                  7,123      217                            
                                                        $                      28,914      $                      20,797  
  Less - accumulated depreciation and amortization      ( 6,804)                           ( 3,698)                       
  Total                                                 $                      22,110      $                      17,099  

(1) Construction in progress as of December 31, 2024 consisted of capitalized costs of production tooling, machinery and equipment related to the UK Launch Factory located in Coventry, United Kingdom and assembly facility located in the United States. For the year ended December 31, 2023, the amount of construction in progress consisted of capitalized costs related to production tooling at the UK Launch Factory located in Coventry, United Kingdom.

Depreciation expenses of property and equipment were $ 3,182 2,255 1,683

Throughout the years ended December 31, 2024 and 2023, a total cost of $208and $259, respectively, and a total accumulated depreciation of $76and $122, respectively, were disposed from the consolidated balance sheets.

NOTE 7. CREDIT FACILITY

On August 14, 2023, the Company entered into an agreement with a leading Israeli commercial bank to establish a revolving credit line facility (the