REE Automotive

Company Overview

Snapshot

Founded in January 2011 by Daniel Barel and Ahishay Sardes, REE Automotive operates with 201–500 employees. The company has raised a total of $405 million across 7 funding rounds from 3 investors. In September 2024, REE Automotive secured a global manufacturing agreement with Motherson Group, which also made a strategic investment.

Business overview

REE Automotive specializes in advanced automotive technologies, focusing on electric (EV) and autonomous vehicles (AV) across vehicle classes 1 through 6. Its core innovation, the REEcorner, integrates essential vehicle components like steering, braking, suspension, powertrain, and control into a single module. This design creates exceptionally flat EV platforms, maximizing space for passengers, cargo, and batteries while utilizing x-by-wire technology for enhanced vehicle control. REE's platforms offer auto-manufacturers, OEMs, and mobility service providers the flexibility to design EVs and AVs tailored to specific operational needs, facilitating quicker market entry, lower total cost of ownership, and adherence to zero-carbon regulatory requirements within the Automotive & Mobility Technologies sector.

Strategic signal

In September 2024, REE Automotive announced a global manufacturing agreement with Motherson Group, accompanied by a strategic investment from M&G. This development signals a significant step towards scaling production and market penetration for REE's electric vehicle platforms, validating its technology and manufacturing strategy through a partnership with a major automotive supplier.

Company Intelligence Q&A

What was a key strategic development for REE Automotive in September 2024?

In September 2024, REE Automotive announced a global manufacturing agreement with Motherson Group. This agreement was coupled with a strategic investment in a $45.35 million registered direct offering led by M&G.

When did REE Automotive obtain EPA certification for its P7 Electric Truck Lineup?

In October 2023, REE Automotive obtained EPA certification for its P7 Electric Truck Lineup, a crucial step for market entry in the United States.

What was REE Automotive's initial order book value in October 2023?

In October 2023, REE Automotive's initial order book value jumped to approximately $40 million, following a 30% increase since the end of August 2023.

What was a significant leadership appointment for REE Automotive in September 2023?

In September 2023, REE Automotive appointed Carlton Rose, former Global President of Fleet Maintenance and Engineering at UPS, as Chairman of its Board of Directors.