Welcome to our dedicated page for REE Automotive Ltd. news (Ticker: REE), a resource for investors and traders seeking the latest updates and insights on REE Automotive Ltd. 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 has appointed Josh Tech as COO, bringing over 23 years of expertise in operations and manufacturing from Tesla and the construction technology sector. This leadership change supports the company’s global expansion and readiness for commercial vehicle prototype testing in 2022, focusing on the launch of its REEcorners and modular REEboard EV platforms in 2023. Tech will lead operations at new integration centers in Texas and the UK, while former COO Michael Charlton will transition to a strategic advisor role, ensuring continuity in leadership as REE scales its manufacturing capabilities.
REE Automotive (Nasdaq: REE) filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC. This report is accessible on the SEC's website and REE’s Investor Relations page. The company is a leader in electric vehicle platforms, focusing on empowering diverse applications for electric and autonomous vehicles through their innovative REEcorner technology. REE’s manufacturing model collaborates with Tier-1 partners to enhance production efficiency, while their upcoming U.S. headquarters aims to bolster market presence.
REE Automotive Ltd. (NASDAQ: REE) reported a net loss of $46.7 million for Q4 2021 versus $414.9 million in Q3 2021, providing a clearer path toward commercial production. The company is progressing towards the production of its P7 platform, with trials beginning in Q1 2022. Strategic partnerships with Hitachi and delivery vehicle collaborations are set to enhance REE's market footprint. The company holds $275.8 million in liquidity and expects operational expenses between $100 million and $120 million for 2022 to support its growth initiatives.
REE Automotive (NASDAQ: REE) will announce its Q4 2021 financial results on March 3, 2022, before market open. A conference call will follow at 8 a.m. ET, where results and recent events will be discussed. Investors can submit questions starting February 24, 2022. REE focuses on innovative electric vehicle platforms, featuring its REEcorner™ technology that compacts essential vehicle components, enabling various vehicle designs. The company aims to support the e-mobility market through partnerships with industry leaders.
REE Automotive (NASDAQ: REE) will showcase its innovative P7 electric vehicle platform at Work Truck Week 2022, taking place from March 9–11 in Indianapolis. This platform is designed for vehicle classes 3-5, supporting payloads up to 8,800 pounds with all-wheel steering. REEcorners™ technology enhances efficiency by integrating vehicle components into a compact module, increasing cargo space by 35%. Prototypes are currently in production at REE's UK Engineering Center, aligning with specifications from a leading global delivery firm.
REE Automotive Ltd. (NASDAQ: REE) announced its participation in several investor conferences in Q1 2022, featuring talks by CEO Daniel Barel and CFO David Goldberg. They will discuss REE’s advancements in its fully-flat P7 platform designed for commercial fleets, its collaborations with top partners, and its comprehensive strategy for fleet electrification.
Key events include the Baird Sustainability Conference (Feb. 22-23), Cowen Mobility Summit (Mar. 3), Roth Capital Conference (Mar. 14-15), and DA Davidson Conference (Mar. 22). For more details, visit REE's investor page.
REE Automotive (NASDAQ: REE) announced the appointment of David Goldberg as its new Chief Financial Officer, effective February 2022. Goldberg brings over 20 years of experience in finance and strategic development, previously holding senior roles at Magna International, Morgan Stanley, and Bain & Company. He succeeds Hai Aviv, who served since 2018 and guided the company through its Nasdaq listing. REE is poised for growth with new partnerships and the upcoming launch of its REEcorner™ technology, aimed at advancing electric vehicle platforms.
REE Automotive announced the initiation of trials for its new P7 platform, specifically designed for commercial delivery vehicles and walk-in vans. Tailored for a large U.S. delivery company, the platform features a fully flat design, maximizing interior space and efficiency. It can support payloads up to 8,800 lbs and accommodate up to 30 passengers. Key technology includes REEcorner and X-by-Wire for improved safety and driving dynamics. This platform aims to streamline the development of electric models and reduce operational costs through innovative services.
REE Automotive (NASDAQ: REE) and American Axle & Manufacturing Holdings (NYSE: AXL) are set to host an in-person event at CES on January 5, 2022, at 12:15 p.m. PT. The focus will be on their collaboration in the growing electrification market, featuring AAM's advanced electric drive technology, which supports REE's modular EV platforms. This partnership aims to accelerate the deployment of innovative electric vehicles. A live video webcast will be available on both companies' investor relations websites.
REE Automotive Ltd. (NASDAQ: REE) will exhibit at CES from Jan. 5-8, 2022, showcasing its ultra-modular EV technology and REEcorner™ innovations. The display includes a partnership with Hino Motors, highlighting a modular EV platform aimed at various markets. REE will also unveil its autonomous delivery vehicle concept, Leopard, featuring advanced LiDAR technology. CEO Daniel Barel emphasized the importance of innovation amid ongoing COVID-19 safety considerations. REE positions itself as a leader in e-Mobility through strategic partnerships and cutting-edge technology.
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