Welcome to our dedicated page for Ree Automotive news (Ticker: REE), a resource for investors and traders seeking the latest updates and insights on Ree Automotive stock.
REE Automotive Ltd. (Nasdaq: REE) is an innovative automotive technology company that is redefining electric mobility. Headquartered in Tel Aviv, Israel, REE specializes in developing next-generation electric vehicle (EV) platforms. These platforms are characterized by their flat, scalable, and modular design, which offers customers unparalleled freedom in vehicle design. This enables the creation of a wide range of electric, autonomous, and mobility-as-a-service (MaaS) vehicles tailored for various applications, including last-mile delivery, light to heavy-duty logistics, and robo-taxis.
REE has two core technological innovations: the REEcorner® and the REEboard®. The REEcorner integrates all traditional vehicle components—such as steering, braking, suspension, and the e-motor—into the arch of the wheel. The REEboard is a completely flat and modular platform. This innovative approach offers numerous customer benefits, including design freedom, packaging efficiency, increased energy efficiency, faster development times, compatibility with advanced driver-assistance systems (ADAS), reduced maintenance costs, and compliance with global safety standards.
REE's technology is cost-efficient and supported by a robust network of Tier 1 partners, giving the company access to 320 global production sites. The company's geographical focus spans Israel, Germany, the United States, the United Kingdom, and other regions, enabling a broad market reach.
REE Automotive has recently achieved significant milestones, including receiving FMVSS and EPA certification for its fully by-wire electric trucks and platforms. The company's Class 4 P7-C chassis cab has also been certified by the California Air Resources Board (CARB), making it eligible for substantial state and federal incentives.
Furthermore, REE's P7-C has garnered attention from major industry players like Penske Truck Leasing and U-Haul International, Inc., who are integrating REE's electric trucks into their fleets. REE's recent partnerships with dealers across North America, including Kaizen Automotive Group and Macnab EV Sales Corp, have expanded its authorized dealer network to 66 locations.
The company's financial condition is robust, with a current order book value surpassing $50 million. REE is on track to deliver its next-generation P7-S stripped chassis to fleets and OEMs, designed to improve delivery efficiencies and fleet management.
REE Automotive continues to push the boundaries of e-mobility with its patented by-wire technology for drive, steer, and brake control, eliminating the need for mechanical connections. The company's platforms are future-proof, autonomous-capable, and designed to drastically reduce the time to market for fleets looking to electrify, offering a low total cost of ownership (TCO).
REE Automotive Ltd. (NASDAQ: REE) has nominated American Axle & Manufacturing (NYSE: AXL) to supply high-performance electric drive units (EDUs). AAM's innovative 3-in-1 electric drive technology will be integrated into REE's REEcorner technology, enhancing power density while reducing weight. Prototypes are expected by late 2021, with full production projected for 2024, primarily targeting a U.S.-based delivery van program. This collaboration aims to support REE's growth and commitment to a zero-emissions future through high-quality automotive 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.
REE Automotive (NASDAQ: REE) will announce its third quarter 2021 financial results on November 16, 2021, before market open. Following the release, a webcast and conference call will take place at 8:30 a.m. Eastern Time to discuss the results and recent developments. Investors can access the call via the company's Investor Relations website or by phone. The event will allow for a question-and-answer session with management. REE focuses on innovative e-mobility technology, providing scalable solutions for electric and autonomous vehicles.
REE Automotive Ltd. (NASDAQ: REE) has expanded its Board of Directors with the appointment of independent members Michal Brikman and Lilach Geva-Harel. This strategic move aims to deepen financial and governance expertise as the company progresses towards commercial production in 2023. Brikman and Geva-Harel bring extensive experience in public company operations, sustainability, and corporate governance. Additionally, the board announced the resignation of Ari Raved, who served for over seven years.
REE Automotive (NASDAQ: REE), a leader in e-mobility, announced participation in major investor conferences in Q4 2021. CEO Daniel Barel will discuss the company's business strategy, global expansion plans, and future production milestones. Key events include:
- UBS Emerging SMID Cap Mini Conference on Nov 3
- MKM Partners on Nov 17
- Barclays Global Automotive and Mobility Tech Conference on Nov 18
- Credit Suisse Industrials Conference on Dec 2
REE Automotive (NASDAQ: REE) and Hino Motors have won the European Product Design Award in the 'Design for Society' category for their collaboration on next-generation electric commercial mobility solutions. Their modular EV platform, powered by REE, features a detachable Mobility Service Module that enhances accessibility for goods and services. The project aims to lower carbon emissions and reduce congestion while supporting autonomous driving. Prototypes are expected by fiscal year 2022, signaling advancements in sustainable urban mobility.
REE Automotive Ltd. (Nasdaq: REE) has been awarded the 2021 Global EV Platform Company of the Year Award by Frost & Sullivan, recognizing its innovative REEcorner technology. This technology integrates key vehicle components into a compact module, enabling fully-flat EV platforms with enhanced payload capacity and design flexibility. REE's modular platforms are designed to facilitate faster EV model deployment for OEMs and logistics companies while supporting sustainability initiatives with zero-emission capabilities. The award underscores REE's leadership in the e-mobility sector.
REE (Nasdaq: REE) has seen its CEO Hans Thomas and COO David Weisburd purchasing additional shares, totaling approximately $2 million in open market buys during September 2021. Hans Thomas acquired 222,000 shares at average prices of $5.81 and $5.66. Weisburd purchased 123,908 shares at an average price of $5.97. These actions were reported in SEC filings and reflect the company executives' positive outlook on REE's market position.
REE Automotive has been awarded the 2021 Global EV Platform Company of the Year by Frost & Sullivan. This recognition highlights REE's innovative corner module technology, allowing for modular and customizable electric vehicle (EV) designs. The demand for EVs has surged by 280% over the past three years, with approximately 2 million units sold globally. REE's REEcorner technology enables rapid model launches and offers operational advantages over traditional EVs. The company's mission is to empower global mobility companies to create versatile zero-emission vehicles.
REE Automotive Ltd. (NASDAQ: REE) has announced that Co-Founder and CEO Daniel Barel will present the company's vision and strategy for the electric vehicle (EV) future at various investor conferences throughout September 2021. Barel will discuss REE’s business model and production strategy amidst the rapid adoption of EV platforms globally. Key events include presentations at Cowen's 4th Annual Global Transportation & Sustainable Mobility Conference on September 9, Morgan Stanley's Laguna Conference on September 14, and Evercore ISI's Autotech & AI Forum on September 22.
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