Hino Motors to Join REE Automotive With Platform Display at CES 2022

Rhea-AI Summary

REE Automotive Ltd. (NASDAQ: REE) and Hino Motors (TYO: 7205) are advancing their partnership towards future electric mobility solutions, focusing on data-as-a-service and charging infrastructure. The companies are targeting hardware prototypes by FY2022 and will showcase their joint EV platform, the FlatFormer, at CES in Las Vegas from Jan. 5-8. This collaboration illustrates their commitment to redefining commercial mobility and highlights their robust partnership through joint exhibits and shared visions for next-gen vehicles.

Positive

• Collaborative focus on data-as-a-service and charging infrastructure enhances future mobility solutions.
• Targeting hardware prototypes by FY2022 indicates strong development timelines.
• Joint exhibit at CES reinforces partnership visibility and commitment to innovation.

Negative

• None.

TEL AVIV, Israel, Dec. 09, 2021 (GLOBE NEWSWIRE) --

• REE Automotive Ltd. (NASDAQ: REE) and Hino Motors (TYO:7205) expand their shared vision on future electric mobility to data-as-a-service and charging infrastructure solutions development
  
• Companies on track for hardware prototypes by FY2022
• Concept model of Hino and REE’s joint EV platform, the FlatFormer, makes U.S. debut on display in REE’s booth at CES in Las Vegas Jan. 5-8
• The companies’ joint exhibit at CES reinforces the strength of Hino and REE’s enduring partnership
• REE and Hino teams will be available together for business meetings and media interviews
• REE and Hino are working together to bring to market their shared vision of providing new value to society through next-generation commercial mobility.
• Through their joint business alliance, the companies plan to bring to market their solution through the ideal next-generation commercial vehicles, with additional prototype development underway.
  
  

Business and Media Contact
Caroline Hutcheson
Head of Communications, REE Automotive
+1 252.314.2028
media@ree.auto

About Hino Motors

Hino Motors, Ltd. is a Toyota Group company selling trucks and buses in more than 80 countries in 2020. Number of employees totals 35,000 globally and produces vehicles in over 20 countries including the 4 major plants in Japan. Hino slogan is “Trucks and buses that do more”. To put “Trucks and buses that do more” into practice, Hino will provide “appropriate products with safety and environment technologies”, “ultimately customized total support for customers”, and “challenge new fields”.

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 uses 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, JB Poindexter, Navya and American Axle & Manufacturing 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.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/41195aa9-b7e2-4e11-bc98-eeb8b858a395

https://www.globenewswire.com/NewsRoom/AttachmentNg/9f8d298a-d6c2-431a-bfc4-236186fb17c1

https://www.globenewswire.com/NewsRoom/AttachmentNg/5cbed9ed-ebcd-4b8f-a909-4f3463bcf668

FAQ

What is the partnership between REE Automotive and Hino Motors?

REE Automotive and Hino Motors have partnered to develop electric mobility solutions, focusing on data-as-a-service and charging infrastructure.

When will REE and Hino showcase their joint EV platform?

REE and Hino will showcase their joint EV platform, the FlatFormer, at CES in Las Vegas from January 5-8, 2022.

What is the goal for REE and Hino's prototype development?

REE and Hino aim to have hardware prototypes ready by FY2022.

How does the REE and Hino partnership benefit the automotive industry?

The partnership aims to redefine commercial mobility with innovative solutions, enhancing vehicle design and performance.

What technologies are being developed by REE and Hino?

They are developing next-generation commercial vehicles that integrate advanced technologies for electric mobility.