SHARE BASED COMPENSATION (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SCHEDULE OF EXERCISE PRICES AND REMAINING CONTRACTUAL LIVES OF OUTSTANDING OPTIONS

The following is information regarding exercise prices and remaining contractual lives of outstanding options as of June 30, 2024:

June 30, 2024
outstanding						Exercisable
Number of options outstanding		Exercise price range (USD)		Weighted average remaining contractual life		Number of options Exercisable		Exercise price range (USD)		Weighted average remaining contractual life
	40,654		3.22		9.1		-		-		-
	37594		4.23		8.7		11,751		4.23		8.7
	9,617		4.63		8.5		3,525		4.63		8.5
	13,115		4.71		8.6		4,099		4.71		8.6
	48,222		5.74		8.0		24,863		5.74		8.0
	85,247		7.12		8.2		39,346		7.12		8.2
	75,309		7.57		3.5		75,309		7.57		3.5
	46,048		7.61		8.8		46,048		7.61		8.8
	238,340		7.82		6.3		238,340		7.82		6.3
	36,931		8.73		8.8		-		-		-
	36,931		11.35		8.8		-		-		-
	78,336		15.63		6.3		68,793		15.63		6.3
	19,235		17.47		7.3		15,957		17.47		7.3
	765,579		8.14		7.8		528,031		8.25		9.37

The following is information regarding exercise prices and remaining contractual lives of outstanding options at December 31, 2023:

December 31, 2023
Outstanding					Exercisable
Number of options outstanding	Exercise price (USD)		Weighted average remaining contractual life		Number of options Exercisable		Exercise price (USD)		Weighted average remaining contractual life
49,400		3.32		9.6		-		-		-
39,782		4.35		9.2		-		-		-
9,618		4.80		8.9		2,077		4.80		8.9
13,115		4.92		9.1		-		-		-
59,482		5.95		8.5		19,809		5.95		8.5
96,177		7.43		8.7		28,416		7.43		8.7
46,050		7.89		9.3		-		-		-
46,050		9.04		9.3		-		-		-
46,050		11.78		9.3		-		-		-
22,733		18.07		7.8		13,989		18.07		7.8
428,457		7.55		8.9		64,291		9.15		8.2

SCHEDULE OF CHANGES IN FAIR VALUE OF OPTIONS

The table below sets forth a summary of changes in the fair value of the options:

	Number of options measured at fair value			Fair value (U.S. Dollars in thousands)
Balance as of December 31, 2023		405,714			232
Effect of change in exchange rate		-			(4	)
Changes in fair value		-			74
Reclassification of liability classified share-based compensation awards to equity		(401,794	)		(302	)
Balance as of June 30, 2024		-			-

The table below sets forth a summary of changes in the fair value of the options:

	Number of options measured at fair value		Fair value (U.S. Dollars in thousands)
Balance at January 1, 2021		446,703		4,769
Effect of change in exchange rate				112
Changes in fair value		-		(1,276	)
Balance at December 31, 2021		446,703		3,605
Effect of change in exchange rate				(315	)
Changes in fair value		-		(2,294	)
Balance at December 31, 2022		440,045		996
Effect of change in exchange rate				(30	)
Changes in fair value		-		(734	)
Balance at December 31, 2023		405,714		232

SCHEDULE OF EXPENSE (INCOME) RECOGNIZED IN CONSOLIDATED FINANCIAL STATEMENTS

The table below presents the expense (income) recognized in the financial statements of the Company in respect to share-based payment:

	Six months ended June 30
	2024						2023
	Equity classified awards		Liability classified awards		Total expense		Equity classified awards			Liability classified awards			Total expense
Cost of revenue		-		-		-		(19	)		(5	)		(24	)
Research and development expenses (income)		67		41		108		103			(116	)		(13	)
Sales and marketing expenses (income)		51		20		71		46			(21	)		25
General and Administrative expenses		72		13		85		150			3			153
		190		74		264		280			(139	)		141

The table below presents the expense (income) recognized in the financial statements of the Company in respect to share-based payment:

	Year ended December 31
	2022								2021
	Equity classified awards		Liability classified awards			Total expense			Equity classified awards		Liability classified awards			Total expense
Research and development expenses (income)		206		(1,426	)		(1,220	)		7		(1,297	)		(1,290	)
Sales and marketing expenses (income)		59		(546	)		(487	)		269		(459	)		(190	)
General and Administrative expenses (income)		278		(322	)		(44	)		70		95			165
		543		(2,294	)		(1,751	)		346		(1,661	)		(1,315	)

ZOOZ POWER LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

	Year ended December 31
	2023
	Equity classified awards		Liability classified awards			Total expense
Research and development expenses (income)		98		(440	)		(342	)
Sales and marketing expenses (income)		111		(171	)		(60	)
General and Administrative expenses (income)		294		(111	)		183
		503		(722	)		(219	)

Equity Classified Awards [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SCHEDULE OF FAIR VALUE ASSUMPTIONS

	June 30, 2024			December 31, 2023
Dividend yield		0	%		0	%
Expected volatility*		55%-89	%		74%-76	%
Risk-free interest rate		3.3%-5.8	%		3.3%-3.9	%
Expected term (years)		2-7 years			4-7 years
Exercise price (USD)		3.32-15.45			3.32-11.78

* Volatility is based on the historical fluctuation in share prices of peer companies over similar periods to the expected life of the option until exercise date.

	2023		2022		2021
Dividend yield		0%		0		0%
Expected volatility		74%-76%		52%-76%		55%-75%
Risk-free interest rate		3.3%-3.9%		2.4%-3.1%		0.75%-2%
Expected term (years)		4-7 years		5-7 years		5-6 years
Exercise price (USD)		3.32-11.78		4.92-7.55		5.15-21.16

SCHEDULE OF STOCK OPTIONS ACTIVITY

The following is summary information of equity classified options in 2023:

	Six months ended June 30, 2024
				Weighted average exercise price		Weighted average remaining contractual life		Aggregate Intrinsic
	Number			USD		years			Value
Outstanding as of December 31, 2023		428,457			7.55		8.9		-
Forfeited		(64,672	)		10.5		6.9		-
Reclassification of liability classified share-based compensation awards to equity		401,794			9.32		5.7		-
Outstanding as of June 30, 2024		765,579			8.31		7.1		-
Exercisable as of June 30, 2024		528,031			8.80		6.5		-

The following is summary information of equity classified options in 2023:

	Year ended December 31, 2023
				Weighted average exercise price		Weighted average remaining contractual life		Aggregate Intrinsic
	Number			USD		Years		Value
Outstanding at beginning of year		298,955			8.46		9.4		-
Expired		(110,945	)		16.81		-		-
Granted		240,447			5.60		9.3		-
Outstanding at end of year		428,457			7.55		8.9		-
Exercisable at end of year		64,291			9.15		8.2		-

Liability Classified Awards [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SCHEDULE OF FAIR VALUE ASSUMPTIONS

The following table summarizes assumptions used as of December 31, 2023:

	December 31, 2023
Expected dividend		0	%
Expected volatility		81.2%-90.9	%
Risk-free interest rate		4.97%-5.35	%
Expected life		2-4
Exercise price (USD)		4.57-15.67

The following table summarizes assumptions used as of December 31, 2023, 2022 and 2021:

	2023		2022		2021
Expected dividend		0%		0%		0%
Expected volatility*		81.2%-90.9%		79.6%-95.7%		86.9%-95%
Risk-free interest rate		4.97%-5.35%		4.68%-5.27%		1.18%-1.87%
Expected life		2-4		1.5-5		2-5.9
Exercise price (USD)		4.57-15.67		4.57-15.67		4.57-15.67

SCHEDULE OF STOCK OPTIONS ACTIVITY

The following is summary information about liability classified options in 2023:

	Year ended December 31, 2023
				Weighted average exercise price		Weighted average remaining contractual life		Aggregate Intrinsic
	Number			USD		years		Value
Outstanding at beginning of year		440,045			8.46		6.3		-
Expired		(34,331	)		7.66		-		-
Outstanding at end of year		405,714			9.72		6.2		-
Exercisable at end of year		386,016			10.52		6.1		-

SCHEDULE OF EXERCISE PRICES AND REMAINING CONTRACTUAL LIVES OF OUTSTANDING OPTIONS

The following is information regarding exercise prices and remaining contractual lives of outstanding options at December 31, 2023:

December 31, 2023
outstanding					Exercisable
Number of options outstanding	Exercise price range (USD)		Weighted average remaining contractual life		Number of options Exercisable		Exercise price range (USD)		Weighted average remaining contractual life
78,110		7.55		4.1		78,110		7.55		4.1
239,009		7.78		6.8		239,009		7.78		6.8
78,795		15.67		6.9		59,097		15.67		6.9
9,800		25.62		0.4		78,110		25.62		0.4
405,714		9.72		6.2		386,016		10.52		6.1