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REE (Nasdaq: REE) has seen its CEO Hans Thomas and COO David Weisburd purchasing additional shares, totaling approximately $2 million in open market buys during September 2021. Hans Thomas acquired 222,000 shares at average prices of $5.81 and $5.66. Weisburd purchased 123,908 shares at an average price of $5.97. These actions were reported in SEC filings and reflect the company executives' positive outlook on REE's market position.
REE Automotive Ltd. has completed its merger with 10X Capital Venture Acquisition Corp (Nasdaq: VCVC), with stock trading commencing on July 23, 2021. REE's REEcorner™ technology aims to revolutionize the commercial electric vehicle market by integrating vehicle components into a compact module. The company targets a $700 billion market, partnering with leaders like Magna International and Toyota. Financial backing includes significant investments from Koch Strategic Platforms and Magna. CEO Daniel Barel emphasizes an innovative, cost-effective approach to future mobility.
REE Automotive is advancing its merger with 10X Capital Venture Acquisition Corp (VCVC) through a strategic partnership with EAVX, a unit of JB Poindexter & Co. The collaboration focuses on developing zero-emission commercial electric vehicles by integrating REE's REEcorner technology with JB Poindexter's vehicle bodies. This partnership aims to enhance EV adoption in the commercial sector and expand their customer base in North America.
Daniel Barel, REE's CEO, emphasized the importance of this move for business growth and sustainability.
REE Automotive has announced that its Registration Statement on Form F-4 for the business combination with 10X Capital Venture Acquisition Corp (Nasdaq: VCVC) has been declared effective by the SEC. The boards have unanimously approved the merger, with a special meeting for stockholder approval set for July 21, 2021. Following closure, REE's shares will trade under the ticker symbols 'REE' and 'REEAW'. REE aims to enhance production of its innovative REEcorner technology and expand its presence in the e-Mobility sector, with the first deliveries expected in 2022.
REE Automotive, a leader in e-Mobility, is finalizing its merger with 10X Capital Venture Acquisition Corp (NASDAQ: VCVC). Co-Founder and CEO Daniel Barel, along with CFO Hai Aviv, will participate in key investor events throughout June. Notable conferences include the Citi Lithium and Battery Day on June 3 at 12pm ET, and the UBS Global Industrials and Transportation Conference on June 9 at 4pm ET. REE aims to empower global mobility companies by providing versatile electric vehicle platforms using their innovative REEcorner technology.
American Axle & Manufacturing (AAM) and REE Automotive have partnered to develop an electric propulsion system for e-Mobility. This collaboration includes leveraging AAM's lightweight electric drive units and advanced integration capabilities into REE's innovative REEcorner technology, which offers a fully flat EV chassis for multiple commercial applications. Prototypes are expected by the end of 2021. The merger of REE with 10X Capital Venture Acquisition Corp (VCVC) is also underway, aiming for public listing.
Hino Motors and REE Automotive have announced a strategic alliance to advance next-generation commercial mobility solutions. This collaboration aims to leverage Hino's vehicle manufacturing expertise and REE's proprietary REEcorner™ technology to develop modular electric vehicles. The companies plan to create hardware prototypes by 2022, focusing on enhancing urban mobility, reducing carbon emissions, and improving resource allocation. This partnership cites a shared vision of generating new societal value through innovative mobility solutions.
Navya and REE Automotive have partnered to develop a level 4 autonomous system that incorporates REEcorner technology and Navya's autonomous driving solutions. This collaboration aims to create advanced mobility solutions tailored for both passengers and goods, emphasizing safety and high performance.
REE's innovative technology integrates vehicle components into the wheel arch, allowing for enhanced operational efficiency. Navya, a leader in autonomous transport, adds to this partnership with its established experience since 2015. This agreement aligns with both companies' visions for the future of e-mobility.
REE Automotive Ltd has announced a strategic collaboration with Magna International Inc. aimed at developing Modular Electric Vehicles (MEVs) for tech companies and new electric mobility players. This collaboration combines REE's innovative REEcornerTM technology with Magna's vehicle systems integration and manufacturing expertise. The MEVs will be customizable based on customer specifications, enhancing operational efficiency. REE's platform seeks to support commercial EVs with lower Total Cost of Ownership and increased payload capacities, driven by their proprietary X-by-Wire control technology.
REE Automotive has introduced five new REEcorner™ designs aimed at enhancing electric vehicle (EV) platforms for commercial use. Following its merger announcement with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), REE emphasizes the versatility of its EV platforms tailored to B2B needs, including payload capacities of up to 5,000 kg. The technology allows for increased interior space, improved vehicle dynamics, and lower operational costs. The company believes these innovations will lead to faster development times and greater design flexibility within the EV sector.
