REE Automotive selected by Airbus UpNext
- None.
- None.
Insights
The collaboration between REE Automotive Ltd. and Airbus UpNext signifies a strategic partnership that leverages REE's proprietary REEcorner® and full-by-wire control systems. This technology, which eliminates the need for traditional mechanical linkages with electronic systems, offers potential for enhanced vehicle design flexibility and efficiency. From an industry perspective, the integration of such technology in Airbus's research and technology demonstrator could signal a shift towards more innovative mobility solutions, possibly affecting future vehicle architectures across various sectors, including automotive and aerospace.
Investors should note the potential for this partnership to open new revenue streams for REE and diversify its portfolio, which could positively influence its stock performance. Moreover, the endorsement from a subsidiary of Airbus SE could enhance REE's brand credibility and attract additional partnerships, potentially leading to an uptick in market valuation.
Entering into a partnership with a subsidiary of Airbus SE could be indicative of REE's competitive edge in the electric vehicle (EV) technology market. It's essential to analyze the market's growth trajectory and the increasing demand for EVs and autonomous vehicles, which rely heavily on by-wire technologies. The collaboration may also reflect on the broader trends in the industry, where traditional automotive companies are increasingly intersecting with aerospace and other transportation sectors to create multi-modal mobility solutions.
For stakeholders, the long-term implications hinge on the successful application and scalability of REE's technology in Airbus's projects. If successful, it could catalyze further industry adoption, potentially leading to increased market share and investment in research and development. However, the risks associated with the high costs of technology development and potential delays in implementation should not be overlooked.
From a financial standpoint, the partnership's immediate impact on REE's revenue may be limited, as research and technology demonstrators are typically early-stage projects. However, the long-term financial implications could be substantial if the technology is commercialized. Investors should monitor the progress of this collaboration closely, as it could have material implications for future earnings and cash flow projections. The deal could also serve as a catalyst for stock valuation if the market perceives it as a step towards securing a more robust position in the emerging tech-centric mobility landscape.
It will be important to assess how this partnership aligns with REE's overall strategic goals and how it might influence their capital allocation, especially in R&D and marketing. The ability to maintain a healthy balance sheet while investing in such partnerships will be crucial for sustaining investor confidence.
TEL AVIV, Israel, March 05, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”) has been selected by Airbus UpNext, wholly-owned innovation subsidiary of Airbus SE (stock exchange symbol: EADSY), to provide technological know-how based upon its REEcorner® and full-by-wire control systems.
“Our fully-by-wire technology was carefully selected by Airbus UpNext to support their need in a research & technology demonstrator,” said Tali Miller, Chief Business Officer of REE. “This contract is a recognition for our fully-by-wire technology.”
To learn more about REE’s patented technology and unique value proposition that positions the company to break new ground in e-mobility, visit www.ree.auto.
About REE Automotive
REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify.
To learn more visit www.ree.auto.
Media Contact
Malory Van Guilder
Skyya PR for REE Automotive
+1 651-335-0585
ree@skyya.com
Investor Contact
Kamal Hamid
VP Investor Relations | REE Automotive
+1 303-670-7756
investors@ree.auto
Caution About Forward-Looking Statements
This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward looking statements when it discusses the potential benefits of the collaboration, and Airbus’ UpNext’s ability to plan and realize a unique test case to support Airbus UpNext’s needs. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.
These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 28, 2023 and in subsequent filings with the SEC.
FAQ
What company has selected REE Automotive Ltd. for technological know-how?
What technology will REE provide to Airbus UpNext?
Who is the Chief Business Officer of REE?
What does the partnership with Airbus UpNext signify for REE?
