REE Automotive Will Open its U.S. Headquarters and First Integration Center in Austin, Texas, as it Prepares for Production in 2023
2021年7月23日 - 8:00PM
ビジネスワイヤ(英語)
- REE U.S. HQ to capitalize on growing market demand for EVs in
North America
- REE Austin is expected to generate more than 150 jobs in the
region in the next few years
- Expected annual capacity of U.S. Integration Center to be
40,000 modular EV platforms by H2 2022
REE Automotive Ltd. [NASDAQ: “REE”], a leader in e-Mobility,
today announced that it will open its U.S. headquarters in Austin,
Texas to address the growing U.S. market demand for
mission-specific EVs from delivery and logistics companies,
Mobility-as-a-Service and new technology players. In addition,
Austin will be the location of REE’s first asset-light Integration
Center for the assembly and testing of its disruptive REEcorner™
technology and ultra-modular EV platforms. The new Integration
Center will offer REE’s technology to its existing and future
automotive partners in North America, enabling them to build
modular EVs “Powered by REE”. REE is exploring several
collaborations with a number of Koch Industries, Inc. companies, to
support and accelerate the establishment of REE’s integration
center in Austin. Koch Strategic Platforms, LLC, a subsidiary of
Koch Industries, is an investor in REE as well. The REE Austin
facility is expected to create approximately 150 jobs in upcoming
years.
“Establishing our U.S. headquarters in Austin, Texas best
positions us for growth and rapid expansion,” said Daniel Barel,
REE’s Co-Founder and CEO. “Austin is fast becoming a worldwide home
for elite technology professionals. REE needs to continue growing
and thriving, and Austin’s dynamism and entrepreneurial spirit
definitely fit REE’s culture and values. Our U.S. presence will
allow us to capitalize on the incredible opportunities in the U.S.
market and put us closer to our North American-based customers and
partners, including Magna International and JB Poindexter, as we
work together to develop and deliver modular EVs (MEVs™).”
REEcorner™ technology integrates critical vehicle components,
including steering, braking, suspension, powertrain and control,
into a single compact module between the chassis and the wheel,
using x-by-wire technology for steering, driving and braking. This
innovation has enabled REE to develop a modular, fully-flat
skateboard chassis with more room for passengers, cargo and
batteries that will be highly adaptable to customers. EV platforms
using REEcorners™ are agnostic to vehicle size and design,
power-source and driving mode, enabling REE to target a $700
billion total addressable market, and help OEMs, delivery fleets,
Mobility-as-a-Service providers and new mobility players get to
market faster at a fraction of the cost.
REE intends to tap into a global network of Tier 1 partners’
manufacturing capacity, with full point-of-sale component assembly
and testing set to take place in REE’s Integration Centers. REE
expects this manufacturing process to significantly reduce capital
expenditures and increase REE’s global presence and market share.
REE’s CapEx-light manufacturing approach and Integration Centers
are designed to enable the company to remain a comparatively
asset-light enterprise, helping to increase operating margins and
ROI and reduce the carbon footprint of its operations.
Michael Charlton, REE’s COO, commented, “REE’s Integration
Centers will be designed to be fully modular and scalable to ensure
the Company achieves projected production volumes. The
state-of-the-art centers will utilize automation, including
Automated Guided Vehicles (AGVs), for the optimal movement of
assemblies, with the goal of increasing automation levels to
Industry 4.0 Technology and beyond.”
About REE
REE is an automotive technology leader creating the cornerstone
for tomorrow's zero-emission vehicles. REE’s mission is to empower
global mobility companies to build any size or shape of electric or
autonomous vehicle – from class 1 through class 6 – for any
application and any target market. Our revolutionary, award-winning
REEcorner technology packs traditional vehicle drive components
(steering, braking, suspension, powertrain and control) into the
arch of the wheel, allowing for the industry's flattest EV
platform. Unrestricted by legacy thinking, REE is a truly
horizontal player, with technology applicable to the widest range
of target markets and applications. Fully scalable and completely
modular, REE offers multiple customer benefits including complete
vehicle design freedom, more space and volume with the smallest
footprint, lower TCO, faster development times, ADAS compatibility,
reduced maintenance and global safety standard compliance.
Headquartered in Tel Aviv, Israel, with subsidiaries in the USA,
the UK and Germany, REE has a CapEx-light manufacturing model that
leverages its Tier 1 partners’ existing production lines. REE’s
technology, together with its unique value proposition and
commitment to excellence, positions REE to break new ground in
e-Mobility.
For more information visit: www.ree.auto
Caution About Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts,
may be forward-looking statements. Words such as “may,” “will,”
“should,” “likely,” “anticipates,” “expects,” “intends,” “plan,”
“projects,” “believes,” “views,” “estimates”, “future”, “allow”,
“aims”, “strives” “endeavors” and similar expressions are used to
identify these forward-looking statements. These statements
include, among other things, the Company’s statements about the
Company’s strategic and business plans, relationships or outlook,
the impact of trends on and interest in its business, intellectual
property or product and its future results. These forward-looking
statements are based on REE’s expectations and beliefs concerning
future events and involve risks and uncertainties that may cause
actual results to differ materially from current expectations.
These factors are difficult to predict accurately and may be beyond
REE’s control. Forward-looking statements in this communication or
elsewhere 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 cause results to
differ from the forward-looking statements in this release include,
but are not limited to: REE’s ability to commercialize its
strategic plan; 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 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; intense competition
in the e-mobility space, including with competitors who have
significantly more resources; risks related to the fact that the
Company is incorporated in Israel and governed by Israeli law;
REE’s ability to make continued investments in its platform; the
impact of the ongoing COVID-19 pandemic and any other worldwide
health epidemics or outbreaks that may arise; 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 final prospectus relating to
its business combination filed with the U.S. Securities and
Exchange Commission (the “SEC”) on July 1, 2021 and in subsequent
filings with the SEC. While the list of factors discussed above and
the list of factors presented in the final prospectus are
considered representative, no such list should be considered to be
a complete statement of all potential risks and uncertainties.
Unlisted factors may present significant additional obstacles to
the realization of forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210723005215/en/
Media Keren Shemesh Chief Marketing Officer | REE
Automotive +972-54-5814333 media@ree.auto Investor Relations
Limor Gruber VP Investor Relations | REE Automotive +972-50-5239233
investors@ree.auto
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