AAM Secures Business Award for Next Generation 3-in-1 Electric Drive Technology
On November 5, 2021, American Axle & Manufacturing (NYSE: AXL) announced a pivotal agreement with REE Automotive (NASDAQ: REE) to provide electric drive units (EDU) designed for various customer vehicle programs. These next-generation units feature a 3-in-1 technology that combines the motor, gearbox, and inverter, delivering 3,250 Nm of peak torque while weighing 25% less than competitors. Development will take place at AAM's Detroit facility, with prototypes expected by the end of 2021 and full production by 2024.
- Secured a contract with REE Automotive for electric drive units.
- The 3-in-1 EDU technology promises improved efficiency with 25% weight reduction.
- Projected delivery of prototypes by 2021 and full production by 2024 indicates growth in the e-mobility sector.
- None.
DETROIT, Nov. 5, 2021 /PRNewswire/ -- American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) today announced it has secured an agreement with e-mobility leader REE Automotive Ltd. (NASDAQ: REE) to supply high-performance electric drive units (EDU) in a modular platform that can support multiple customer vehicle programs. The business award features AAM's award-winning, next generation 3-in-1 electric drive technology, which integrates the electric motor, gearbox and inverter into a single, compact package. This highly engineered EDU weighs 25 percent less than other units without sacrificing any power or performance. The system's peak torque reaches 3,250 Nm.
Earlier this year, AAM and REE announced plans to jointly develop a new electric propulsion system that incorporates AAM's EDU into REE's highly modular and disruptive REEcornerTM technology that enables a fully flat EV chassis for multiple commercial vehicle applications. The REEcornerTM integrates critical vehicle components (steering, braking, suspension, powertrain and control) into the area between the chassis and the wheel to deliver significant functional and economic advantages.
"This is the first contract that leverages AAM and REE's jointly developed technology," said David C. Dauch, AAM Chairman and CEO. "AAM continues to grow our electric propulsion business with strategic opportunities in new markets and with new customers like REE. We are excited about this fast-growing segment and continue to remain focused on accelerating additional global opportunities."
The electric drive units will be developed at AAM's Advanced Technology and Development Center in Detroit with delivery of prototypes planned by the end of 2021 and full-volume production expected by 2024.
About AAM
AAM (NYSE: AXL) delivers POWER that moves the world. As a leading global Tier 1 automotive supplier, AAM designs, engineers and manufactures driveline and metal forming technologies that are making the next generation of vehicles smarter, lighter, safer and more efficient. Headquartered in Detroit, AAM has approximately 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global and regional platforms with a focus on quality, operational excellence and technology leadership. To learn more, visit www.aam.com.
About REE Automotive
REE (Nasdaq: REE) is an automotive technology leader whose mission is to empower companies to build any size or shape of electric or autonomous vehicle – from Class 1 through Class 6 - for any application and any target market. REE aims to serve as the underpinning on top of which EVs and AVs will be built and envisions a future where EVs and AVs will be 'Powered by REE'.
REE's revolutionary technology - the REEcorner™ - packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel, enabling REE to build the industry's flattest EV platforms with more room for passengers, cargo and batteries. REE utilizes x-by-wire technology to control each of the corners of the vehicles with full drive-by-wire, brake-by-wire and steer-by-wire.
REE's EV platforms afford complete freedom of design, enabling auto-manufacturers, OEMs, delivery & logistic fleets, Mobility-as-a-Service providers and new mobility players to design mission-specific EVs and AVs based on their exact business requirements and significantly reduce their time-to-market, lower TCO and meet zero-carbon regulations.
Headquartered in Herzliya, Israel, REE has an Engineering Center in the UK, as well as subsidiaries worldwide including Japan and Germany, and plans to open its U.S. headquarters and first Integration Center in Austin, Texas. REE's unique CapEx-light manufacturing model leverages Tier-1 partners' existing production lines; the company's extensive partner ecosystem encompasses leading names including Hino Motors (truck arm of Toyota), Magna International, American Axle & Manufacturing and JB Poindexter to provide a full turnkey solution.
REE's patented technology, together with its unique value proposition, position it to break new ground in e-Mobility. For more information visit https://www.ree.auto.
Media Contact:
Andrea Knapp
andrea.knapp@aam.com
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SOURCE American Axle & Manufacturing Holdings, Inc.
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