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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) 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.
Hitachi America and REE Automotive have announced a strategic agreement aimed at accelerating the adoption of electric vehicles (EV) globally. This partnership focuses on enhancing EV manufacturing, establishing commercial charging infrastructure, and developing a comprehensive digital fleet management system. Key goals include co-creating scalable Data-as-a-Service (DaaS) and Analytics-as-a-Service (AaaS) platforms to support next-generation connected commercial EVs. The collaboration aims to provide sustainable solutions while contributing to carbon emission reduction efforts.
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.
REE Automotive (NASDAQ: REE) reported a significant GAAP net loss of $414.9 million for Q3 2021, largely attributed to increased share-based compensation expenses totaling $409.8 million. Despite this, the company is on track with its commercialization targets, having completed customer validation tests and nominated suppliers like Brembo and American Axle for production. The company also unveiled an autonomous last-mile delivery vehicle and secured $17 million in funding from the UK government. REE aims to ramp up production in 2023 and expects a total employee count of approximately 270 by year-end.
REE Automotive Ltd. (NASDAQ: REE) has unveiled its autonomous concept vehicle, Leopard, powered by the new modular REEboard™ EV platform. Tailored for last-mile delivery, this vehicle enhances operational efficiency while enabling customized solutions for delivery companies and e-retailers. The Leopard, featuring X-by-wire REEcorner technology, measures 3.4 m in length and boasts a battery capacity of 50 kWh, a top speed of 60 mph, and a cargo volume of 180 ft³. The concept will be showcased at CES 2022 in Las Vegas, aiming to revolutionize zero-emission deliveries.
REE Automotive has partnered with Say Technologies to enhance investor communication via the Say Connect platform, allowing retail investors to submit questions ahead of earnings calls. This initiative aims to improve transparency and accessibility for shareholders. The upcoming Q3 earnings call is scheduled for November 16, 2021, at 8:30 AM ET, where management will respond to selected questions. REE’s innovative REEcorner™ technology is designed to revolutionize e-mobility, providing customizable solutions for electric and autonomous vehicles.
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