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).
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.
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
FAQ
What is the current stock price of REE Automotive Ltd. (REE)?
What is the market cap of REE Automotive Ltd. (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?
