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) is set to host an investor and analyst event on July 28 at 11 a.m. ET at the American Center for Mobility in Ypsilanti, Mich. The event will showcase REE's P7 electric chassis in collaboration with EAVX and Morgan Olson. Participants will witness a live demonstration of the new walk-in step van body and engage in a Q&A with REE leadership. This event follows initial customer tests as REE builds its order book ahead of production start in 2023.
REE Automotive Ltd. (NASDAQ: REE) reported a GAAP net loss of $23 million for Q1 2022, showing progress in production capabilities and customer validation for its P7 platform. The integration center in Coventry aims for production capacity of 10,000 vehicle sets by year-end 2022. Positive feedback has been received from pipeline customers, including global OEMs. The company continues its commercialization efforts, preparing for the delivery of prototypes this summer, while maintaining a liquidity of $239 million.
On May 17, 2022, EAVX and REE Automotive unveiled their fully electric walk-in step van prototype set for customer evaluation this summer. This vehicle, built on REE's modular P7 platform, is the first fully drive-by-wire walk-in van. Evaluations will take place in Detroit, targeting retail and logistics customers. The P7 platform supports vehicles with payloads up to 8,800 pounds and a range of 370 miles. This development marks a significant step in EAVX's mission to enhance commercial vehicle electrification and offers unique benefits and efficiencies for various applications.
REE Automotive Ltd. (NASDAQ: REE) announces progress toward commercial production with proven robotic assembly capabilities at its UK Integration Center in Coventry. This facility will focus on the P7 electric platform for various commercial vehicles, initially targeting a capacity of 10,000 vehicle sets by year-end, expected to double in 2023 with a new Austin, Texas center. The company partners with Rockwell Automation for technology to enhance efficiency and scalability. This initiative marks a crucial step in establishing REE's innovative cloud-based manufacturing model and advancing EV platform commercialization.
REE Automotive (NASDAQ: REE) announced it will release its Q1 2022 financial results on May 17, 2022, before market opening. A live conference call will be held at 8:30 a.m. ET to discuss results and recent developments. Investors can submit questions in advance, with the platform open from May 10-16. REE specializes in electric vehicle platforms, utilizing its innovative REEcorner™ technology to integrate critical components, enabling flexible vehicle design.
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.
FAQ
What is the current stock price of Ree Automotive (REE)?
What is the market cap of Ree Automotive (REE)?
What is REE Automotive's core technology?
Which certifications has REE Automotive achieved?
What are the benefits of REE's technology?
Who are REE Automotive's key partners?
What markets does REE Automotive operate in?
What are some recent achievements of REE Automotive?
What incentives are available for REE's vehicles?
What is the significance of REEcorner® technology?
How does REE's P7-S stripped chassis benefit fleets?
What is REE's approach to manufacturing and market strategy?
