REE Automotive News
137 articles
growth-negative
REE Automotive Receives Nasdaq Minimum Bid Price Notification
REE Automotive Ltd., an automotive technology company, has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement, as its stock has been trading below $1.00 for 30 consecutive business days. The company has until December 29, 2025, to regain compliance by ensuring its stock price remains above $1.00 for ten consecutive days. Failure to comply could result in delisting, although REE may be eligible for an additional 180-day compliance period. The company is exploring options to address the deficiency, including a potential reverse stock split.
Public Trading
growth-negative
REE Announces Cost Reduction Measures to Sustain Long-Term Growth
REE Automotive Ltd., an automotive technology company, announced significant cost reduction measures to decrease operating costs by 55% to approximately $2.7 million per month by year-end. This includes a 50% reduction in workforce, aimed at extending the companys financial runway beyond 12 months. The company is focusing on its software-defined vehicle (SDV) technology and plans to enhance operational efficiency by streamlining its organizational structure. Despite the layoffs, REE aims to maintain its core R&D and engineering capabilities to drive innovation and value creation. The company is also focusing on licensing and partnership models for its SDV technology.
Layoffs
growth-negative
REE פינטזה על הכנסות של מיליארדים, אך ב–2024 הן הגיעו ל–183 אלף דולר והיא ניצבת בסכנת סגירה ■ בחברה תולים את הסיבות למשבר במכסים של טראמפ, כלומר בגורם חיצוני — מהלך שכיח שיזמים נוקטים בזמן מצוקה ■ לרוב, הסיבות האלה הן רק הקש ששבר את גב הגמל
REE, a company developing electric vehicle propulsion systems and software, is facing significant financial difficulties. The company announced layoffs of about 100 employees, half of its workforce, due to financial constraints exacerbated by U.S. trade tariffs. Despite previously merging with a SPAC at a valuation of over $3 billion, REEs current valuation has plummeted to $24 million. The company has $70 million in cash but is struggling to raise additional funds. The challenges have been attributed to external factors like tariffs, but the companys inability to meet its ambitious revenue projections has also played a role. REEs situation highlights the vulnerability of startups to both market conditions and internal strategic missteps.
LayoffsPIPE/POInvestment
growth-negative
At the end of 2024, the Israeli auto-tech company had 211 employees including 92 in Israel.
REE Automotive, an Israeli auto-tech company, is facing financial difficulties and plans to lay off half of its workforce by the end of 2024. The company, which went public via a SPAC merger in 2021, has seen its market cap plummet from $3.1 billion to $23 million. In response to its financial challenges, REE plans to reduce operating expenses by 60% and streamline its management structure. The company raised $27 million from existing investors in March 2025. Despite these challenges, REE aims to continue implementing its business plan and create value for shareholders.
LayoffsInvestmentPublic Trading
growth-negative
חברת האוטו־טק REE, שמוזגה לשלד ספאק לפי שווי של 3 מיליארד דולר, נסחרת כיום בשווי של 25 מיליון דולר בלבד ■ אחרי הפסד של 112 מיליון דולר, את דו"חותיה השנתיים ליוותה הערת "עסק חי" ■ החברה מעסיקה כ-90 עובדים בישראל, ולא ברור כמה מהם יפוטרו
REE, an auto-tech company, is experiencing significant financial difficulties. After merging with a SPAC at a valuation of $3 billion, its current market value has plummeted to just $25 million. The company reported a loss of $112 million and has issued a going concern warning in its annual reports. As part of its restructuring efforts, REE plans to lay off over 100 employees, which constitutes 50% of its workforce. The layoffs are expected to occur in phases by the end of the year. The company employs around 90 people in Israel, but it is unclear how many of them will be affected.
Layoffs
growth-negative
The electric vehicle company restructures in a desperate bid to stay afloat after valuation falls from $3 billion four years ago to just $23 million.
REE Automotive, an electric vehicle platform company, is undergoing significant restructuring due to financial struggles. After a sharp decline in valuation from $3 billion in 2021 to $23 million, the company plans to lay off 50% of its workforce to cut operating expenses by 60%. Originally a wheel technology company, REE shifted focus to modular electric vehicle platforms. Despite partnerships with major companies like KYB, Mahindra, and Mitsubishi, REE has faced challenges due to a lack of revenue and heavy losses. The company went public via a SPAC merger in 2021 but has since struggled to maintain its market position.
LayoffsPublic TradingPartners
growth-negative
REE Automotive Ltd (REE) Q4 2024 Earnings Call Highlights: Navigating Challenges with Strategic ...
REE Automotive Ltd has improved its financial position by raising approximately $60 million in 2024 and an additional $36.5 million in Q1 2025. The company achieved a significant milestone by obtaining the first Federal Motor Vehicle Safety Standards certification for a full by wire vehicle in the US. However, US tariffs and trade policies have impacted its supply chain, causing a temporary pause in production. Despite strong demand and expanding customer reservations, the company faces uncertainty due to macroeconomic challenges and production delays. REE plans to reduce operational expenses, including layoffs, to manage cash burn.
InvestmentCustomersLayoffs
growth-negative
REE Automotive Announces Fourth Quarter and Fiscal Year 2024 Earnings Results
REE Automotive Ltd., an automotive technology company, announced its financial results for 2024, highlighting a successful transition of its software-defined vehicle (SDV) technology from concept to commercial reality. Despite growing interest from OEMs and technology companies, the company faces challenges due to macroeconomic changes, including U.S. tariffs and trade policy disruptions affecting global supply chains. As a result, REE has temporarily paused its production plans and reduced operating expenses. In March 2025, the company raised new equity capital to support its financial position amid the challenging market environment. REE is focusing on less capital-intensive approaches, such as licensing and partnerships, to deploy its technology while maintaining production as a long-term strategy.
InvestmentPartnersProduct Stage
growth-positive
REE Automotive Provides 2024 Business Update; Reschedules Date for its Fourth-Quarter and Fiscal Year 2024 Earnings Results
REE Automotive Ltd., an automotive technology company, announced a business update for 2024, highlighting increased reservations nearing $1 billion for its software-defined vehicles (SDVs). The company expects its first U.S. deliveries in the first half of 2025. Collaborations with Motherson Group and Roush Industries aim to strengthen its supply chain and delivery capabilities. REE has signed an MOU with a leading technology company to expand into the global autonomous transportation market. The company achieved significant technology milestones, including FMVSS certification and an autonomous drive with Airbus UpNext. These developments position REE as a key enabler of next-generation electric, autonomous, and connected commercial vehicles.
Product StageCustomersPartners
growth-positive
REE Automotive Awarded Frost & Sullivan’s 2025 Company of the Year in the North American Electric Medium-Duty Vehicle Platform Industry
REE Automotive Ltd., an automotive technology company, has been recognized with Frost & Sullivans 2025 Company of the Year award in the North American Electric Medium-Duty Vehicle Platform Industry category. This award highlights REEs innovative software-defined modular platform, which offers scalable and flexible solutions for OEMs and fleet operators. The companys proprietary REEcorner technology integrates critical components into a single compact module, allowing for rapid vehicle customization and potentially reducing operational costs. REEs platform supports a variety of vehicles, including last-mile delivery trucks and passenger vehicles, and is designed to be future-ready with its Unified Architecture. This recognition reinforces REEs leadership in the software-defined, autonomous-ready EV market.
growth-positive
REE Automotive to Report Fourth-Quarter and Fiscal Year 2024 Financial Results on April 29, 2025
REE Automotive Ltd., an automotive technology company, announced it will report its fourth-quarter and fiscal year 2024 financial results on April 29, 2025. The company specializes in software-defined electric vehicles (SDVs) and has a global supply chain managed by Motherson Group, its second-largest investor. REEs technology allows for modularity and enhanced performance in vehicles, and the company plans to deliver its flagship P7-C electric truck in the first half of 2025. The company collaborates with a leading automotive manufacturer in Detroit to produce vehicles at scale without significant capital investment. REEs SDV technology licensing offers OEMs cost structure improvements and faster market entry.
Product StagePartnersInvestment
growth-positive
REE Automotive Announces Increase in Previously Announced Registered Direct Offering to $36.4 Million with Pricing of Additional $9.4 Million at Premium to Market, Led by Strategic Investor Motherson Group
REE Automotive Ltd., an automotive technology company, announced a registered direct offering led by Motherson Group and M&G Investments, raising approximately $36.4 million. The offering aims to strengthen REEs cash position ahead of planned vehicle deliveries for nearly $1 billion in reservations. The company issued a total of 8,595,807 shares at $4.25 per share. The funds will be used for working capital and general corporate purposes. Despite market volatility, the successful closure of this offering reflects growing interest in REEs software-defined vehicle technology. A memorandum of understanding with a global technology company could generate up to $770 million in potential revenue.
InvestmentCustomers
growth-positive
REE Automotive Announces Pricing of $27 Million Registered Direct Offering of Ordinary Shares
REE Automotive Ltd., an automotive technology company, announced a securities purchase agreement with new and existing institutional investors, including M&G Investments and Varana Capital, to raise approximately $27 million through a registered direct offering. The offering involves the sale of 6,376,631 ordinary shares at $4.25 per share. The initial closing is expected around March 19, 2025, with a second closing inviting Motherson Group to invest up to $10 million by March 28, 2025. The proceeds will be used for working capital and general corporate purposes. A.G.P./Alliance Global Partners is the sole placement agent for the offering.
InvestmentPIPE
growth-positive
REE Automotive Signs MOU for Software-Defined Technology with One of The Leading Technology Companies, Paving the Way Toward Multi-Year, Large-Volume Autonomous Vehicles Framework Agreement
REE Automotive Ltd. has entered into a non-binding memorandum of understanding (MOU) with a global technology company to develop and produce autonomous-driving vehicles using REEs P7 platform. The collaboration aims to generate up to $770 million in potential revenues by 2030, with software and services revenue expected to begin in the second half of 2025. The strategic collaboration agreement is expected to be signed by the end of 2025, with production starting in 2027. This partnership leverages REEs certified P7 platform and advanced software technology, positioning the company to lead in the global autonomous transportation market.
Partners
growth-positive
REE Automotive to Host Ride & Drive of P7-C Software Defined Electric Truck at NTEA Work Truck Week 2025
REE Automotive Ltd. is showcasing its P7-C software-defined electric truck at the NTEA Work Truck Week 2025. The P7-C is the first U.S.-certified full-by-wire vehicle, featuring advanced technology for improved maneuverability and safety. The vehicle has received Californias HVIP approval, offering up to $60,000 in incentives for California fleets, promoting the adoption of zero-emission vehicles. REEs collaboration with Geotab aims to enhance data analytics for fleets using REEs software-defined vehicles. The event provides an opportunity for attendees to experience the P7-Cs capabilities, highlighting its suitability for urban and commercial applications.
Product StagePartnersCustomers
growth-positive
REE Automotive Collaborates with Geotab to Provide Advanced Data Analytics to Fleets
REE Automotive Ltd., an automotive technology company, has announced a collaboration with Geotab, a leader in telematics and fleet management solutions. This partnership will enable North American fleets using REEs software-defined vehicles (SDVs) to access Geotabs data-driven intelligence, enhancing fleet performance through advanced data analytics. The integration of REEai Cloud with Geotabs network allows for seamless monitoring of vehicle performance and condition, providing real-time actionable insights. This collaboration aims to optimize fleet operations, reduce total cost of ownership, and facilitate the transition to electric vehicles by offering a comprehensive solution for fleet operators.
Partners
growth-positive
Mission Mobile Medical and REE Automotive Collaborate to Transport Healthcare to Millions of Rural Americans
REE Automotive Ltd. has partnered with Mission Mobile Medical to provide P7 electric trucks for a new mobile healthcare fleet. This collaboration aims to enhance healthcare access for over two million Americans in rural areas across 42 states. The partnership leverages REEs software-defined vehicle technology and Mission Mobiles expertise in mobile health solutions. The first delivery of the P7 vehicles is scheduled for mid-2025. This initiative is expected to improve healthcare delivery efficiency, adaptability, and sustainability in underserved communities.
Partners
growth-positive
When Will REE Automotive Ltd. (NASDAQ:REE) Breakeven?
REE Automotive Ltd., an automotive technology company, is on the verge of a significant milestone as it approaches profitability. Despite posting a loss of $110 million in the last twelve months, analysts predict the company will break even by 2026 and generate a profit of $6 million in 2027. This optimistic outlook is based on an expected annual growth rate of 58%. However, the companys high debt level, at 43% of equity, poses a risk. The article emphasizes the importance of capital management and suggests that REE Automotive is in an investment phase, which is typical for companies with high growth forecasts.
growth-positive
REE Automotive to Participate in Sidoti Micro-Cap Virtual Conference
REE Automotive Ltd., an automotive technology company, is set to participate in the Sidoti Micro-Cap Virtual Conference on January 23, 2025. CEO Daniel Barel will present the companys software-defined vehicle technology and market opportunities. The presentation aims to highlight REEs unique value proposition in the e-mobility sector, focusing on their modular platforms and REEcorner® technology. This event provides an opportunity for potential investors to engage with the company, as CFO Hai Aviv will be available for one-on-one meetings. REE Automotives technology allows for significant design flexibility and reduced time to market for electric vehicle fleets.
growth-positive
Sidoti Events, LLC's Virtual January Micro-Cap Conference
Sidoti & Company, LLC, through its affiliate Sidoti Events, LLC, is hosting a two-day January Micro-Cap Conference on January 22-23, 2025. The conference aims to provide corporate access and meaningful interaction between small and microcap issuers and investors. Sidoti Events benefits from Sidotis extensive experience and connections with 2,500 institutional relationships in North America. Sidotis coverage universe includes approximately 150 equities, with a significant portion participating in its Company Sponsored Research program. In 2024, Sidoti expanded its CSR program by establishing Lighthouse Equity Research to cater to companies facing challenges in obtaining coverage. The conference is part of Sidotis strategy to enhance its rapidly growing conference business.
growth-positive
REE Automotive to Participate in 27th Annual Needham Growth Conference
REE Automotive Ltd., an automotive technology company, will participate in the 27th Annual Needham Growth Conference in New York City on January 14, 2025. The companys leadership, including CEO Daniel Barel, CFO Hai Aviv, and Chief Strategy Officer Dana Rubenstein, will engage in one-on-one meetings with institutional, private equity, and venture capital investors. They will discuss REEs software-defined vehicle technology, market opportunities, and future goals. REE Automotive is known for its modular platforms that allow for the building of electric vehicles with complete design freedom. Their innovative REEcorner technology integrates critical vehicle components into a single module, enabling the creation of flat EV platforms with increased space and reduced time to market.
growth-positive
Ree Automotive ending 2024 on ‘strong’ note, says H.C. Wainwright
Ree Automotive reported its Q3 results on December 17, 2024, indicating a strong end to the year. The company is poised for growth with a robust vehicle production and distribution infrastructure, supported by a partnership with Motherson. This partnership has enhanced Rees supply chain and distribution capabilities, leading to a 230% increase in customer orders, valued at $137 million. The company plans to begin commercial sales in the second half of 2025, with a projected delivery of 90-100 vehicles once tooling equipment is operational in Coventry, U.K. H.C. Wainwright has given Ree a Buy rating with a $15 price target, reflecting optimism about its future prospects.
CustomersPartners
growth-negative
REE Automotive Third Quarter 2024 Earnings: Misses Expectations
REE Automotive reported a net loss of $38.5 million, which widened by 59% compared to the third quarter of 2023. The companys earnings per share (EPS) deteriorated further to a loss of $2.56 per share. Revenue missed analyst estimates by 78%, and EPS missed by 142%. Despite these setbacks, revenue is forecasted to grow by 54% annually over the next three years, significantly outpacing the 10% growth forecast for the US Auto Components industry. However, the companys shares have dropped by 10% over the past week, highlighting potential risks. Simply Wall St provides this analysis based on historical data and forecasts, emphasizing that it is not financial advice.
growth-positive
REE Automotive Reports Q3 2024 Results: Reservations Surge by 230% as Production Begins and Liquidity Increases, Reaffirming BoM Breakeven Target for H2 2025
REE Automotive Ltd. reported a significant increase in demand for its Powered by REE vehicles, with reservations growing by 230% to $137 million. The company is making progress in integrating its software-defined vehicle technology into leading OEMs and has begun production of its P7 medium-duty electric truck. Strategic partnerships with Motherson and Roush Industries are supporting production efforts. REEs liquidity improved significantly, with cash and cash equivalents rising to $88.8 million. The company secured funding of up to $65 million, including credit facilities, to support production ramp-up. The CEO expressed optimism about the companys growth prospects, citing strong demand and strategic partnerships as key drivers.
CustomersPartners
growth-positive
REE Automotive Named CES 2025 Innovation Award Honoree for Software-Defined Vehicle Technology
REE Automotive Ltd. has been recognized as a 2025 CES Innovation Awards honoree for its P7-S Software-Defined EV Chassis. This platform is designed to be fully by-wire, autonomous-ready, and aims to set new standards in the automotive industry. The P7-S chassis, which integrates critical vehicle components into a single module, is being evaluated by U-Haul as their first EV solution. This recognition highlights REEs innovative approach to electric vehicle design, emphasizing modularity and advanced technology. The award underscores REEs potential to influence the future of software-defined vehicles and expand its customer base.
Customers
growth-positive
REE Automotive to Report Third Quarter 2024 Financial Results on December 17, 2024
REE Automotive Ltd., an automotive technology company specializing in by-wire electric trucks and platforms, announced it will report its third quarter 2024 financial results on December 17, 2024. The company will hold a webcast and conference call to discuss the financial results and recent events. REE Automotive is known for its innovative REEcorner® technology, which integrates critical vehicle components into a compact module, enabling the creation of flat EV platforms. This technology supports autonomous capabilities and offers a low total cost of ownership. The announcement highlights REEs strategic focus on advancing e-mobility and its commitment to future growth.
growth-positive
REE Automotive Strengthens Executive Leadership Team and Board of Directors with Two Key Appointments
REE Automotive Ltd., an automotive technology company specializing in electric trucks and platforms, announced significant management changes and a strategic partnership enhancement. Rajesh Goel from Motherson Group has been appointed to REEs board of directors, and Hai Aviv returns as Chief Financial Officer to lead North American expansion. These changes, effective November 15, 2024, aim to bolster REEs production strategy amid rising demand for electric vehicles. Motherson Groups involvement signifies a strengthened commitment to REE, enhancing its capabilities to meet fleet needs across North America. CEO Daniel Barel expressed confidence in Avivs leadership, emphasizing his role in REEs financial growth. The company continues to innovate with its patented by-wire technology, positioning itself as a leader in the e-mobility sector.
Management ChangesPartners
growth-positive
REE Automotive to Present at Two Prestigious Events in Detroit and Los Angeles
REE Automotive Ltd., an automotive technology company specializing in electric trucks and platforms, announced its participation in two major industry events. CEO Daniel Barel will speak at the Reuters Automotive USA in Detroit, while COO Josh Tech will present at the LD Micro Main Event in Los Angeles. These events are significant for showcasing REEs innovative by-wire technology and modular platforms, which offer design flexibility and reduced time to market for electric vehicle fleets. The participation in these prestigious events is expected to enhance REEs visibility among investors, customers, and industry stakeholders, potentially driving future growth and partnerships.
growth-negative
REE Automotive Ltd. (NASDAQ:REE) most popular amongst individual investors who own 43% of the shares, institutions hold 20%
The article discusses the ownership structure of REE Automotive, highlighting that individual investors hold a significant 43% stake, giving them substantial influence over management decisions. Institutional investors own 20% of the company, indicating some level of confidence in its potential, although this also introduces risks associated with crowded trades. Samvardhana Motherson International Limited is the largest shareholder with a 20% stake. The article suggests that while insider ownership aligns management interests with shareholders, it can also concentrate power. The general public and private companies also hold notable shares. The article emphasizes the importance of understanding ownership dynamics and warns of potential risks, suggesting further investigation into the companys strategic interests and analyst forecasts.
growth-positive
REE Automotive Ltd (REE) Q2 2024 Earnings Call Transcript Highlights: Significant Financial ...
REE Automotive Ltd (NASDAQ:REE) has reported significant financial and operational improvements. The companys net loss narrowed by 57% quarter-over-quarter and by 59% year-over-year to $10.8 million. They completed a $45.35 million capital raise and expanded their dealer and service network to 78 locations across North America. The order book increased by 15% quarter-over-quarter, valued at approximately $60 million. A strategic supply chain management agreement with Motherson Group aims to derisk mass production and improve unit costs. Despite these positive developments, challenges remain, including risks from the ongoing military conflict in Israel and slower-than-expected electrification of commercial vehicle fleets. Production with Roush is set to begin in Q4, with first deliveries expected in 2025.
InvestmentPartnersPublic TradingExpand
growth-positive
REE Automotive Provides Corporate and Business Updates and Reports Second Quarter 2024 Financial Results
REE Automotive Ltd. announced securing $45.35 million in funding through a registered direct offering led by M&G and Motherson. The company has also signed a strategic manufacturing agreement with Motherson to enhance its supply chain and cost structure. U.S. production has commenced in Michigan with Roush as the contract manufacturer, with deliveries expected in 2025. The companys order book has increased to $60 million, driven by growing demand for its software-defined EV technology. REEs dealership network has expanded to 78 locations in the U.S., and the company continues to see significant interest from OEMs.
InvestmentPartnersCustomersExpand
growth-positive
REE Automotive Kick-Off U.S. Production With Roush Industries as Contract Manufacturer
REE Automotive Ltd. announced the commencement of production for its P7 electric truck lineup in Q4 2024 at Roushs facility in Detroit, Michigan, with an annual capacity of up to 5,000 trucks. Motherson will manage the global supply chain and logistics for U.S. production. The partnership with Roush aims to accelerate production ramp-up, improve unit costs, and generate free cash flow faster. Customers have already begun securing production slots. The P7 trucks will feature REEs proprietary REEcorner® technology, providing significant interior volume and autonomous readiness. This strategic move marks a significant milestone in REEs efforts to electrify fleet vehicles across North America.
CustomersPartners
growth-neutral
REE Automotive to Report Second Quarter 2024 Financial Results on September 26, 2024
REE Automotive Ltd., an automotive technology company, announced it will report its second quarter 2024 financial results on September 26, 2024. The company will hold a webcast and conference call on the same day to review the financial results, discuss recent events, and conduct a Q&A session. REE Automotive specializes in modular electric vehicle platforms and by-wire technology, which eliminates the need for mechanical connections. The announcement includes forward-looking statements about the companys strategic plans, market conditions, and potential risks.
growth-positive
REE Automotive raises $45M, secures key supply deal with India's Motherson | CTech
REE Automotive has raised over $45 million in a new funding round led by M&G Investments and has entered a supply chain partnership with Indian auto parts maker Samvardhana Motherson. The company aims to streamline its supply chains and reduce manufacturing costs for its electric vehicles. The funding will be used for general working capital. Shares of REE jumped more than 12% in premarket trading. The company, which completed a SPAC merger in July 2021 at a valuation of $3.1 billion but has since lost 99% of its value, is also laying off 11% of its workforce. Motherson will manage sourcing and supply chain logistics and will nominate a director to REEs board.
InvestmentPartnersLayoffs
growth-positive
REE Automotive Announces Global Manufacturing Agreement with Leading Automotive Supplier Motherson Group Making Strategic Investment in a $45.35 Million Registered Direct Offering Led By M&G
REE Automotive Ltd. has entered into a strategic partnership with Motherson Group to enhance its supply chain management and manufacturing capabilities for its electric trucks. This collaboration aims to accelerate REEs production and meet growing demand. Additionally, REE raised $45.35 million through a direct offering led by M&G Investments, Motherson, and Varana Capital. The funds will be used for general working capital. Motherson will also nominate a director to REEs board. This partnership is expected to significantly boost REEs ability to service customers at scale and improve its financial performance.
PartnersInvestmentExpand
growth-positive
When Will REE Automotive Ltd. (NASDAQ:REE) Become Profitable?
REE Automotive Ltd., an automotive technology company, is approaching a significant milestone as it nears profitability. The company, which operates in France, the UK, the US, and internationally, has reduced its losses from $114 million to $111 million over the past year. Analysts predict that REE Automotive will achieve breakeven by 2025 and generate positive profits of $11 million by 2026, requiring an average annual growth rate of 59%. The company has managed its capital prudently, with debt constituting only 29% of its equity. This article provides a high-level overview of the companys financial health and growth prospects.
Growth-Positive
Over 50,000 Government and Education Entities Can Now Purchase REE’s Software-Defined Electric Truck Through Sourcewell Contract
REE Automotive Ltd., an automotive technology company, has announced that its P7-C software-defined Class 4 electric vehicles (EVs) are now available for purchase in all 50 states of the U.S. This is made possible through a 4-year contract awarded to National Auto Fleet Group (NAFG) by Sourcewell, a government agency. The contract allows government and education entities to add electric options to their fleets. REE is ready to take orders immediately from this new customer base. Depending on the customer’s location, REE’s P7-C vehicles are now eligible for a U.S. federal tax credit of up to $40,000 per vehicle and are expected to be eligible for over $100,000 of incentives per vehicle with additional state incentives.
CustomersPartnersExpand
growth-positive
REE Automotive Reports First Quarter 2024 Financial Results: Deliveries to Customers Have Begun Including to Penske, U-Haul and Airbus
REE Automotive Ltd., an automotive technology company, has announced its financial results and operational highlights for Q1 2024. The company has begun to deliver trucks as part of its demo program with dealers across North America. It has also partnered with Penske Truck Leasing and U-Haul International, Inc. to offer its electric trucks to their customers. REE raised approximately $15 million in proceeds through a public offering of ordinary shares priced at $6.50 per share. The equity raise was led by M&G Investment Management Limited, one of Europe’s largest investment firms, a strategic automotive investor, and REE’s largest shareholder.
PartnersInvestmentExpand
growth-positive
REE Unveils a Next Gen Software-Driven Electric Commercial Vehicle Platform Designed with Leading Delivery Fleet
REE Automotive Ltd. has unveiled its next-generation P7-S stripped chassis at the ACT Expo in Las Vegas. The P7-S, a class 5 chassis, was developed in collaboration with a leading delivery fleet and is designed to improve delivery efficiencies and fleet management. The P7-S uses the P7 REEcorners to become a full by-wire chassis, offering flexibility in dimensions and design freedom for fleets and body builders to develop their own purpose-built EVs. The first customer delivery of the next-gen P7-S demo is planned for June 2024.
CustomersExpand
Neutral
REE Automotive to Report First Quarter 2024 Financial Results on May 30, 2024
REE Automotive Ltd., an automotive technology company and provider of full by-wire electric trucks and platforms, announced that it will report its first quarter 2024 financial results on May 30, 2024. The company will hold a webcast and conference call on the same date to review the financial results, discuss recent events and conduct a question-and-answer session. REE Automotive is known for its modular platforms that allow companies to build electric vehicles of various shapes and sizes. The companys proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection.
Public Trading
growth-positive
REE Automotive’s P7-C Electric Trucks and Platforms Approved for $30,000 Incentive Per Vehicle in Massachusetts
REE Automotive Ltd., an automotive technology company, has been approved for the Massachusetts MOR-EV truck incentive, which could lead to cost savings of up to $70,000 per vehicle when combined with the federal commercial clean vehicle tax credit. This incentive is applicable to REE’s class 4 P7-C chassis cab, reducing its cost by 37%. The company has also applied for similar incentives in other states. The incentive is available to private and nonprofit entities, educational institutions, and local, municipal and state governments.
CustomersExpand
Growth-Positive
Penske Truck Leasing to Offer REE Automotive’s P7-C EV Trucks to its Customers for Demos and Orders Across North America
REE Automotive Ltd. has announced a partnership with Penske Truck Leasing, a global transportation services provider. Penske will offer REEs full by-wire electric trucks to its customers interested in electrifying their fleets. The partnership is expected to add further momentum to REE’s current $50 million order book value. REEs vehicle offers benefits such as superior maneuverability, enhanced safety, driver-centric cabin, and optimal energy efficiency. The collaboration with Penske is expected to expand REEs customer base and boost its growth in the electric vehicle market.
PartnersCustomers
growth-positive
REE Automotive Continues to Expand Full by-Wire EV Offering at ACT Expo 2024
REE Automotive Ltd. is set to showcase new variants of its software-driven electric trucks at the ACT Expo 2024 in Las Vegas. The company will demonstrate its modular electric vehicles, including the REEcorner, the P7-S stripped chassis, and a full vehicle built on the P7-C chassis cab. The company will also announce new partnerships and offer attendees the opportunity to experience the advantages of the REEcorner full by-wire technology. REE Automotives CEO, Daniel Barel, emphasized that pure software-driven vehicles are the future of the automotive industry.
PartnersExpand
growth-positive
REE Automotive Ltd.'s (NASDAQ:REE) Shift From Loss To Profit
REE Automotive Ltd., an automotive technology company operating in various countries, is expected to reach breakeven in 2026, according to industry analysts. The company, which posted a loss of $114m for its most recent financial year, is expected to post a final loss in 2025 before turning a profit of $12m in 2026. Analysts expect the company to grow 58% year-on-year, on average. The company has managed its capital prudently, with debt making up 25% of equity.
Investment
Growth-Positive
REE Automotive Reports Fourth Quarter and Fiscal Year 2023 Financial Results
REE Automotive Ltd., an automotive technology company, has announced its financial results for the fourth quarter and fiscal year ended December 31, 2023. The company has achieved significant milestones, including the commercialization of full x-by-wire technology, and has seen a 900% growth YoY in its order book value, which now exceeds $50 million. The companys dealer network has also expanded to 66 points of sale and service in the U.S. and Canada. Additionally, REE Automotive has raised approximately $15 million through an underwritten public offering of straight ordinary shares.
CustomersInvestmentExpand
Growth-Positive
Demand for REE Automotive Full By-Wire EVs Continues to Grow as Orderbook Value Surpasses $50 Million
REE Automotive Ltd., an automotive technology company, has announced the expansion of its authorized dealer network to 66 locations across the U.S. and Canada. The company has added new dealers including Macnab EV Sales Corp., Pacific Mobility Group, and Kaizen Automotive Group. REE has also expanded its partnerships with leading body builders, adding Hackney, a North American manufacturer. The companys current order value book value has surpassed $50 million. The new dealers have placed orders for P7-C electric chassis cabs. REE continues to grow its presence in Canada and the U.S., with strong demand for its electric trucks.
CustomersPartnersExpand
growth-positive
REE Automotive P7-C Receives CARB Certifications
REE Automotive Ltd. has received two certifications from the California Air Resources Board for its P7-C electric truck, making it eligible for sale in California. The certifications also make the P7-C eligible for over $100,000 in state and federal incentives. Deliveries have already begun to REE’s Authorized Dealer Network and vehicle demonstrations will continue in the coming months. The companys CEO, Daniel Barel, sees this as an important milestone as it will boost the demand for their P7 lineup.
CustomersExpand
Neutral
REE Automotive Announces Date for Fourth Quarter and Fiscal Year 2023 Earnings Release and Conference Call
REE Automotive Ltd., an automotive technology company and provider of full by-wire electric trucks and platforms, will release its fourth quarter and fiscal year 2023 financial results on March 27, 2024. A webcast and conference call will be held on the same date to review the Company’s financial results, discuss recent events and conduct a question-and-answer session. REE Automotive is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms.
Public Trading
REE Automotive to Present at the 36th Annual Roth Conference
Growth-Positive
REE Announces Closing of Public Offering of Ordinary Shares
REE Automotive Ltd., an automotive technology company, has raised $14.95 million in a public offering of 2,300,000 Class A ordinary shares, with each share sold at $6.50. The gross proceeds will be used primarily for working capital and general corporate purposes, including continued product development and commercialization. The round was led by M&G Investment Management Limited, one of Europes largest investment firms and REEs largest shareholder. The companys CEO, Daniel Barel, expressed confidence in the companys growth and the continued support of its customers and investors.
Investment
growth-positive
REE Automotive selected by Airbus UpNext
REE Automotive Ltd. has been selected by Airbus UpNext, a subsidiary of Airbus SE, to provide technological expertise based on its REEcorner and full-by-wire control systems. This partnership is a recognition of REEs fully-by-wire technology. REE Automotive is a technology company that enables other companies to build electric vehicles on their modular platforms. The companys proprietary by-wire technology eliminates the need for mechanical connection, making it a revolutionary player in the e-mobility industry.
Partners
Growth-Positive
REE Announces Pricing of Public Offering of Ordinary Shares
REE Automotive Ltd. has announced the pricing of an underwritten public offering of 2,000,000 Class A ordinary shares at a price of $6.50 per share. The company has also granted the underwriter, Roth Capital Partners, a 20-day option to purchase up to an additional 300,000 ordinary shares to cover over-allotments. The offering is expected to close on March 5, 2024. The net proceeds from the offering will be used primarily for working capital and general corporate purposes, including continued product development and commercialization.
Public TradingInvestment
Growth-Positive
REE Announces Proposed Public Offering of Ordinary Shares
REE Automotive Ltd. has announced the launch of a public offering to sell its Class A ordinary shares. The company plans to give the underwriter a 20-day option to purchase up to an additional 15% of the number of ordinary shares sold in the offering to cover over-allotments. M&G Investment Management Limited has shown interest in purchasing ordinary shares in the offering at the public offering price. The net proceeds from the offering will be used primarily for working capital and general corporate purposes, including continued product development and commercialization.
Public TradingInvestment
Growth-Positive
REE Automotive to Showcase Two Configurations of P7-C Fully-by-Wire Electric Truck at Work Truck Week 2024
REE Automotive Ltd., an automotive technology company, will be exhibiting at the National Truck and Equipment Association’s (NTEA) Work Truck Week in Indianapolis, Indiana from March 5-8, 2024. During the event, REE will debut two configurations of its fully by-wire P7-C: a demo chassis cab format and a full utility body utilizing Knapheide’s KUV body. This will be the first public display of the vehicle since it achieved FMVSS certification in the U.S. REE and Knapheide will also host a joint press conference showcasing a comprehensive electric fleet solution.
Partners
growth-positive
REE Automotive and Knapheide Debut Full Vehicle Solution
REE Automotive Ltd. has announced that its first demo P7-C fully by-wire chassis cab has arrived in the U.S. and has been upfitted at Knapheide in Quincy, Illinois. Knapheide, a popular manufacturer of work truck bodies and truck beds, upfitted the P7-C with its KUV body. The vehicle will be showcased at Knapheide’s distributor event on March 5, 2024. The partnership between REE and Knapheide aims to provide the right body and equipment solutions for vocational fleets across North America.
Partners
growth-positive
REE Completes U.S. Certification of Full-by-Wire Vehicles and Begins Customer Deliveries of its P7-C Electric Truck
REE Automotive Ltd., an automotive technology company, has announced the delivery of its P7-C electric chassis cab to customers following its certification by the Federal Motor Vehicle Safety Standards (FMVSS) and Environmental Protection Agency (EPA). This makes REE the first company to certify a fully x-by-wire vehicle. The P7-C is eligible for a US federal tax credit of up to $40,000 per vehicle and is expected to be eligible for over $100,000 of incentives per vehicle with additional state credits. The first batch of P7-C demonstration trucks are being delivered to multiple fleets in North America via its fast-growing Authorized Dealer Network.
CustomersExpand
growth-positive
REE Ships P7-C Demo to FMI Truck Sales & Service; Franz Bakery, Bedmart, Indoor Billboard, PointS Tires and Kelly’s Home Center Fleets Set to Begin Evaluation of P7-C Vehicle
REE Automotive Ltd., a provider of full by-wire electric trucks and platforms, has announced that leading northwest fleets in the U.S., including Franz Bakery, Bedmart, Indoor Billboard, PointS Tires and Kelly’s Home Center, plan to evaluate the P7-C medium-duty electric demo truck in partnership with certified REE dealer FMI Trucks. The demo will give fleets the opportunity to experience the first fully-by-wire commercial vehicle and secure the inventory they need to transition their fleets to electric. The P7-C demo is designed to allow certified dealers to offer their fleet customers a truly differentiated electric truck and a superb service that allows them to shift their fleets to the electric future.
PartnersCustomers
Growth-Positive
Monarch Truck Center to Host Ride and Drive of REE’s P7-C for Canteen, Stanford University, City of San Jose and Other Large Fleet Customers in the Bay Area
REE Automotive Ltd., a provider of full by-wire electric trucks and platforms, announced that Monarch Truck Center will be among the first of REE’s certified dealers to receive a P7-C medium-duty by-wire electric demo truck. Large fleet customers of Monarch Truck Center, including Canteen, Stanford University, and the City of San Jose, will be invited to test and evaluate the P7-C for daily fleet operations. Over the next few months, these customers will evaluate the benefits of the P7-C, including its driver-centric cabin, modular upfitting designs, and improved maneuverability.
PartnersCustomers
growth-positive
המשאית החשמלית של REE קיבלה רישיון ממשרד התחבורה האמריקאי - Techtime - חדשות אלקטרוניקה והייטק
REE Automotive has announced that its electric truck model, P7, has received approval from the US Department of Transportation after meeting federal vehicle safety standards and environmental protection agency regulations. The P7 is the first fully electronically controlled electric truck in the US. Following the approval, REE has begun delivering demo trucks to customers for testing by several fleets in North America through its authorized distributor network. Pritchard EV, a leading US distributor, is the first to receive the P7-C demo truck for demonstration among its customers. Other REE distributors and leading fleets are expected to receive additional P7-C demo trucks in the coming weeks.
CustomersPartners
growth-positive
REE Automotive Ltd. (NASDAQ:REE) Q3 2023 Earnings Call Transcript
REE Automotive Ltd. reported strong Q3 2023 results, with expansion of its authorized dealer network and North American footprint, and doubling its initial order book value to $43 million in the last 3 months. The company is in advanced stages of building customer demo trucks and is on track to finalizing its FMVSS and CARB certification. It raised $8 million in capital, led by a long-standing institutional investor. The company is also in advanced stages of nominating a U.S. contract manufacturer to assemble its P7 lineup in the U.S.
CustomersPartnersInvestmentExpand
growth-positive
REE Automotive Announces Third Quarter 2023 Financial Results
REE Automotive Ltd., an automotive technology company, has announced its Q3 2023 financial results, revealing a strong growing demand for its P7 electric trucks. The company has expanded its dealer network, more than doubling its initial order book value to $43 million in the last three months. It also secured an $8 million working capital investment led by its largest institutional investor. The company plans to ship its first demo vehicles to customers by Christmas. REE ended Q3 2023 with liquidity of $101 million.
CustomersInvestmentExpand
Neutral
REE Automotive, Ltd. Announces Date for Third Quarter 2023 Earnings Release and Conference Call
REE Automotive Ltd., an automotive technology company and provider of electric vehicle platforms, announced that it will release its third quarter 2023 financial results on November 30, 2023. A webcast and conference call will be held on the same date to review the companys financial results, discuss recent events and conduct a question-and-answer session. The companys management team will take questions from the retail investor community through Say Technologies.
Public Trading
growth-positive
REE Automotive Regains Compliance with Nasdaq Minimum Bid Price Requirement
REE Automotive Ltd., a provider of fully by-wire electric trucks and platforms, has regained compliance with the minimum bid price requirement set by the Nasdaq Listing Rule 5550(a)(2). The company received a notification letter from Nasdaq Listing Qualifications staff confirming that REE maintained a closing bid price at or greater than $1.00 per ordinary share for the last 10 consecutive business days from October 18, 2023 to October 31, 2023. This means that the company has regained compliance with the Nasdaq Capital Market Minimum Bid Price Requirement.
Public Trading
growth-positive
REE Automotive Initial Order Book Value Jumps to Approximately $40 Million
REE Automotive Ltd., an automotive technology company and provider of fully by-wire electric trucks and platforms, has announced that its initial order book value has doubled since late August 2023, now standing at approximately $40 million. This increase is due in part to a recent binding order by Midwest Transit Equipment (MTE), a leading bus dealer in the US, which is now entering the commercial electric truck market with the Powered by REE™ P7-C. Deliveries to MTE are planned to begin in Q1 2024.
CustomersPartners
REE Automotive to Webcast CEO Fireside Chat on November 2, 2023
REE Automotive Initial Order Book Value Grows to Approximately $25 Million, a 30% Increase Since End of August 2023
Growth-Positive
REE Automotive Obtains EPA Certification for Its P7 Electric Truck Lineup
REE Automotive, an automotive technology company, has received certification from the United States Environmental Protection Agency (EPA) for its P7-C chassis cab and P7-S stripped chassis products. This is a step towards REE’s planned full-vehicle certification in late 2023. The certification confirms that REE’s P7 electric truck lineup is in conformity with the Clean Air Act. The company is targeting $1 billion in cumulative sales in 2024-2026 and is on track to begin deliveries to customers later this year.
CustomersExpand
Growth-Positive
REE Automotive Named to the 2024 FreightWaves FreightTech 100
REE Automotive Ltd., a provider of full by-wire electric trucks and platforms, has been included in FreightWaves’ annual FreightTech 100 list, which highlights the most innovative companies in the freight technology sector. The company was selected from nearly 900 nominees. REE Automotives patented technology and unique value proposition have positioned it to break new ground in e-mobility. The companys REEcorner technology packs critical vehicle components into a single compact module, enabling the creation of the industry’s flattest EV platforms with more room for passengers, cargo, and batteries.
Customers
growth-positive
REE Automotive Appoints Carlton Rose, Former Global President of Fleet Maintenance and Engineering at UPS, as Chairman of its Board of Directors
REE Automotive Ltd., an automotive technology company specializing in electric trucks and platforms, has announced the appointment of Carlton Rose as Chairman of its Board of Directors. Rose, who recently retired from a long career at UPS where he served as the president of global fleet maintenance and engineering, joined REE’s Board in June 2023. His appointment as Chairman will be effective upon his re-election to the Board at REEs 2023 Annual Meeting of Shareholders scheduled for October 16, 2023. Arik Steinberg will voluntarily step down and not stand for re-election at the AGM.
Management ChangesExpand
Growth-Negative
Companies Like REE Automotive (NASDAQ:REE) Could Be Quite Risky
REE Automotive, a NASDAQ-listed company, is facing potential financial risk due to its cash burn rate. As of June 2023, the company had $105m in cash and was debt-free, but its cash burn was $102m, giving it a cash runway of roughly 12 months. While the company has begun generating revenue, it only produced $943k last year, which is not significant. The companys cash burn of $102m is about 222% of its $46m market capitalisation, suggesting potential funding difficulties. The companys cash burn reduction is seen as promising, but the overall cash burn is considered fairly risky.
Investment
Growth-Positive
REE Confirms FMVSS Certification Feasibility of its X-by-Wire Systems Ahead of Q4 2023 Vehicle Certification
REE Automotive Ltd., an automotive technology company, has announced a major milestone in its plan to certify and bring to market a steer-by-wire, brake-by-wire and drive-by-wire commercial truck. The company has contracted HORIBA-MIRA, a world leader in testing, to perform internal tests, modeling certain Federal Motor Vehicle Safety Standards (FMVSS) certification requirements. REE plans to fully certify its P7-C and P7-S products by the end of 2023, aligning with planned vehicle deliveries to dealers and eligibility for government incentives.
Partners
growth-positive
REE Automotive Announces Second Quarter 2023 Financial Results
REE Automotive Ltd., an automotive technology company, announced its financial results for Q2 2023. The company confirmed the certification-feasibility for its x-by-wire systems and plans to fully certify its electric truck lineup. REE also announced collaborations with work-truck body manufacturers and set a sales target of $1 billion in cumulative sales for 2024-2026. The company ended the quarter with liquidity of $105 million and established an ATM program and secured a bank facility for capital needs. The article does not mention any specific partners, customers, or investment amounts. The event described in the article occurred on August 29, 2023.
CustomersPartnersInvestment
growth-positive
REE Confirms FMVSS Certification Feasibility of its X-by-Wire Systems Ahead of Q4 2023 Vehicle Certification
REE Automotive has announced a major milestone in its plan to certify and bring to market a steer-by-wire, brake-by-wire, and drive-by-wire commercial truck. The company has contracted HORIBA-MIRA to perform internal tests to determine the feasibility of meeting certification requirements. REE plans to fully certify its P7-C and P7-S products by the end of 2023, aligning with planned vehicle deliveries and eligibility for government incentives. The successful tests with HORIBA-MIRA have confirmed the feasibility of REEs by-wire system. The company aims to be the first to certify a fully by-wire system and is confident in passing the certification process. The certification will allow REE to deliver US incentive eligible vehicles and further establish its position in the electric vehicle market.
Investment
growth-positive
REE Expands P7-C Product Offering with Knapheide Bodies and Upfit Solutions
REE Automotive is partnering with Knapheide, a popular manufacturer of work truck bodies and truck beds, to create full electric vehicle solutions. Knapheide will upfit REEs P7-C chassis cabs to meet the requirements of fleet customers. The partnership aims to reduce downtime and improve the time to market for tailored electric fleets. Knapheides bodies will be integrated into REEs chassis cabs, providing a seamless ordering process for customers. The P7-C chassis cab, part of REEs flagship P7 electric truck lineup, offers flexibility and customization for various customer applications. All P7 configurations with Knapheide bodies are currently available to order, with initial deliveries expected in 2024.
PartnersCustomers
growth-neutral
REE Automotive, Ltd. Announces Date for Second Quarter 2023 Earnings Release and Conference Call
REE Automotive, Ltd. will release its second quarter 2023 financial results and hold a webcast and conference call to discuss recent events. REE Automotive is an automotive technology company that allows companies to build electric vehicles on their modular platforms.
Public Trading
growth-positive
Carlton Rose Joins REE Automotive Board of Directors
Carlton Rose, former global president of fleet maintenance and engineering at UPS, has been appointed to the board of directors of REE Automotive Ltd. This appointment is expected to have a growth-positive impact on the company. The key theme of the article is the addition of Carlton Rose to REEs board of directors. The key issues discussed in the article are management changes. The article does not mention any specific customers, partners, investment amounts, acquisition amounts, layoffs, or the date of the event. The confidence level of the answer is 8.
Management Changes
growth-positive
רי אוטומוטיב תמסור אלפי רכבים עד סוף 2025 - וואלה! כסף
Israeli automotive technology company, רי אוטומוטיב (REE), reported a strong first quarter of 2023 with $126 million in cash and no debt. The company announced plans to manufacture hundreds of vehicles by the end of 2024 and thousands of vehicles by the end of 2025. REE unveiled its new P7-C medium-duty electric truck, designed for the growing American electric truck market. The company also expanded its authorized distributor network in the US with three new distributors: Monarch Truck Center, The Truck Shop, and RyDer. These distributors, along with existing distributors, have the potential to significantly increase REEs order backlog for electric trucks. REE recently appointed three new experienced directors to its board. The directors include Michal Drayman, a partner and CFO at JVP, Ella Felder, a senior finance manager at Weebit Nano Ltd, and Yasuhiro Adsumad, Chairman and CEO of Hitachi America Ltd.
CustomersPartners
growth-positive
Ree Automotive looks to change EV truck architecture with 4-corner technology
Ree, an electric vehicle company, is set to launch its first product, the P7-B box truck. The truck features a novel wheel-based drive system called Reecorner, which offers agility and a 150-mile range with a 7,000-pound payload. Ree has received 100 truck orders and aims to produce hundreds of vehicles by 2024 and thousands by the end of 2025. The company is recruiting independent truck dealers to build its distribution network. Toms Truck Center is among the first eight dealers to work with Ree. The companys technology stands out in the market due to its innovative design and potential for customization.
CustomersPartnersExpand
Growth-Positive
REE Automotive Announces First Quarter 2023 Financial Results
REE Automotive Ltd., an automotive technology leader and provider of electric vehicle (EV) platforms, has announced its financial results for the first quarter ended March 31, 2023. The company is on track for initial production and pilot deliveries by the end of 2023. It has expanded its dealer network in the US, with eight dealers and three fleet customers, with initial orders of approximately 100 vehicles. The company has announced a two-phase production road map, with Phase 1 anticipating production of vehicles in the low hundreds in 2024, and Phase 2 targeting production in low - mid thousands of vehicles by the end of 2025.
CustomersExpand
REE Automotive, Ltd. Announces Date for First Quarter 2023 Earnings Release and Conference Call
growth-positive
REE Automotive Unveils P7-C Chassis Cab, a New Addition to its P7 Electric Truck Lineup, on Track for Deliveries in Q4 2023, Dealer Network Expands
REE Automotive has revealed the P7-C, a Class 4 chassis cab offering a new cabin design built on REEs P7 modular electric platform. The P7 platform lineup now includes three electric trucks: P7-C (chassis cab), P7-B (box truck), and P7-S (stripped chassis). REE has also announced the addition of Monarch Truck Center, The Truck Shop, and RY-DEN Truck Center to its US authorized dealer network. Winter testing for the P7 lineup has been completed in Sweden, and certification is expected to be complete in H2 2023. The P7-C concept will be unveiled at the ACT Expo.
CustomersPartners
growth-positive
REE Automotive Unveils P7-C Chassis Cab, a New Addition to its P7 Electric Truck Lineup, on Track for Deliveries in Q4 2023, Dealer Network Expands
REE Automotive Ltd., an automotive technology company, has revealed P7-C, a Class 4 chassis cab built on REE’s P7 modular electric platform. The company has also expanded its dealer network with the addition of Monarch Truck Center, The Truck Shop, and RY-DEN Truck Center. The P7-C, along with the other vehicles in the P7 lineup, are currently available for order with initial deliveries expected to begin in Q4 2023. The company is also on track to complete US certification following the completion of winter testing in Sweden.
CustomersPartnersExpand
REE Automotive Ltd. Files Annual Report on Form 20-F for the Fiscal Year Ended December 31, 2022
REE Automotive Announces Fourth Quarter 2022 Financial Results
Growth-Positive
REE Automotive's Quarterly Loss Narrows; Expects To Begin Deliveries To Customers In 4Q23
REE Automotive Ltd reported a net loss of $(27.3) million for Q4 FY22, a decrease from the $(46.7) million loss last year. The companys operating expenses also decreased to $27.8 million from $38.8 million a year ago. The company held $154 million in cash and equivalents as of Dec. 31, 2022. REEs CFO, David Goldberg, will be stepping down from his role on Mar. 28, 2023, to be succeeded by Yaron Zaltsman. The company is targeting its first vehicle deliveries in 4Q23.
Management Changes
REE Automotive Appoints New Chief Financial Officer, Announces New Board Members to Position the Company for Continued Growth in 2023
growth-positive
Electric/Hybrid - REE Automotive Names Authorized Dealers for The United States - Renewable Energy Magazine, at the heart of clean energy journalism
The article discusses the finalists for the ees Award, which is part of the European energy storage exhibition ees. Being selected as a finalist is considered a success for the companies involved. The article mentions ten finalists for the ees Award 2021. The ees exhibition is one of the four annual energy sector events that make up The smarter E.
PartnersCustomers
REE Automotive Names Authorized Dealers for The United States
Neutral
REE Automotive, Ltd. Announces Date for Fourth Quarter 2022 Earnings Release and Conference Call
REE Automotive, an automotive technology company and provider of electric vehicle platforms, announced that it will release its fourth quarter 2022 financial results before the NASDAQ market opens on Thursday, March 16, 2023. A webcast and conference call will be held on the same date to review the companys results, discuss recent events, and conduct a question-and-answer session. The conference call can be accessed on the Investors section of the companys website.
Public Trading
REE Automotive Ltd. Announces Receipt of Notice of Deficiency from Nasdaq Resulting from Previously Announced Departure of Director
REE Automotive Names Microvast as Battery Pack Supplier for Its Commercial EV Platforms
REE Automotive Names Microvast as Battery Pack Supplier for Its Commercial EV Platforms
Growth-Negative
REE Automotive Shares Gain After Q3 Results; Has Sufficient Liquidity For Initial Production Of P7 Platform
REE Automotive Ltd reported a net loss of $33.5 million for Q3 FY22, compared to a net loss of $414.9 million the previous year. The decrease in GAAP net loss Y/Y is mainly attributed to lower share-based compensation expenses. The companys loss widened from $25.2 million in 2Q22, driven by lower income from the remeasurement of warrants and increased operating expenses. The non-GAAP operating expenses for the quarter rose 41.8% to $27.7 million. The company held $185.2 million in cash and equivalents. REE Automotive anticipates that it has sufficient liquidity to achieve the initial production of its P7 platform and continue to advance other commercial activities.
Investment
growth-positive
REE Automotive Announces Third Quarter 2022 Financial Results
REE Automotive Ltd., a provider of electric vehicle platforms, has announced its Q3 2022 financial results. The company has received multiple orders for its Proxima Powered by REE and P7-B box trucks from some of the largest fleets in the US. It also expects additional orders in the coming months. The company is on track for a 2H23 start of production and believes its liquidity position is sufficient to commercialize the P7 program. REEs net loss was $33.5 million in Q3 2022 compared to $25.2 million in Q2 2022 and $414.9 million in Q3 2021.
CustomersExpand
REE Automotive Announces Third Quarter 2022 Financial Results
growth-negative
REE Automotive Ltd. Updates That It Has Received Nasdaq Notification Regarding Minimum Bid Price Requirement
REE Automotive Ltd. received a notification from Nasdaq stating that it no longer satisfies the minimum bid price requirement for continued listing. The notice has no immediate effect on the listing of the companys shares, but if the company does not regain compliance within the specified period, its shares may be subject to delisting. REE Automotive is an automotive technology company that focuses on enabling companies to build electric vehicles on their modular platforms.
Public Trading
REE Automotive, Ltd. Announces Date for Third Quarter 2022 Earnings Release and Conference Call
REE Automotive Announces Expiration and Results of Exchange Offer and Consent Solicitation Relating to Warrants
REE Automotive Announces Commencement of Exchange Offer and Consent Solicitation Relating to Warrants
REE Automotive Announces Second Quarter 2022 Financial Results
REE Automotive Debuts P7-B, an Electric Class 3 Box Truck
growth-positive
REE חשפה משאית שליחויות חשמלית - Techtime - חדשות אלקטרוניקה והייטק
REE, an electric vehicle company, has unveiled its new electric truck model, P7-B. The truck is built on REEs flat platform and is designed for the commercial and delivery market. The P7-B offers a spacious interior, low entry height, and a maximum speed of 120 km/h. It can carry up to 2,000 kg of cargo and has a maximum range of 241 km. Customer feedback has been positive, with customers praising the trucks low entry height, improved energy efficiency, and customizable configuration. REEs x-by-wire technology allows for full control of all wheels, adaptive regenerative braking, and hill start assist. The company has developed various platforms for different applications, including urban delivery, passenger vehicles, autonomous taxis, and intercity trucks.
Customers
Neutral
REE Automotive, Ltd. Announces Date for Second Quarter 2022 Earnings Release and Conference Call
REE Automotive, Ltd., a leading automotive technology company and provider of electric vehicle platforms, has announced that it will release its Q2 2022 financial results before the NASDAQ market opens on August 16, 2022. A webcast and conference call will be held on the same day to review the companys results, discuss recent events, and conduct a Q&A session. REEs technology, the REEcorner, packs critical vehicle components into a single compact module, enabling the company to build the industrys flattest EV platforms. The company has partnerships with leading names including Hino Motors, Magna International, JB Poindexter, Navya, and American Axle & Manufacturing.
Public Trading
growth-negative
On the road again: Israel's REE unveils an electric walk-in step van CTech
Israeli electric vehicle manufacturer REE Automotive has unveiled its first vehicle, the Proxima, for series production. The Proxima is an urban delivery vehicle for the American market and will compete with Rivian and General Motors. REEs stock has lost 80% of its value on the Nasdaq since the beginning of the year. The company will produce the platform in the UK and its American partner will build the chassis. The Proxima has a driving range of 200 kilometers, a maximum speed of 120 km/h, and all-wheel drive. Each wheel has its own motor. REEs market cap has plummeted to $363.7 million. The companys investors include Mitsubishi, Toyota, Fiat Chrysler, and local investors.
Public TradingInvestment
growth-positive
REE's robotic plant in UK to make electric vehicle chassis
Israeli startup REE Automotive is opening a fully robotic assembly line at its Integration Center in Coventry, UK. The center will serve customer demand in Europe, focusing on REEs EV platform for commercial electric vehicles. REEs modular chassis allows for more space and flexibility in EV design. The company is partnering with industry leaders for robotics and automated assembly. The Coventry site is expected to have a capacity of 10,000 vehicle sets this year, with another center in Texas doubling global capacity in 2023. This milestone brings REE closer to commercial production next year.
CustomersPartnersExpand
growth-positive
רי אוטומוטיב / תתחיל נסיעות הדגמה עם כלי רכב ראשון, עם EVAX בצפון אמריקה
רי אוטומוטיב, in partnership with EVAX, will begin testing and demonstrating commercial vehicles based on the P7 platform in the Detroit area. The vehicles will be equipped with Ree Corner electric drivetrain technology and have a maximum weight of 8,800 pounds. The testing phase will be the first practical experiment for רי אוטומוטיב, which recently announced a new integration center in Coventry, England. EVAX, a subsidiary of JD Poindexter, was established to promote the development of electric commercial vehicles and has partnerships with various manufacturers.
CustomersPartners
growth-positive
REE Announces Further Progress Towards Commercial Production Capabilities
REE Automotive has announced progress towards commercial production with its robotic assembly capabilities. The company plans to implement cloud-based robotic assembly lines at its manufacturing plants, starting with its European Integration Center in Coventry, UK. The center will focus on the production of electric platforms for commercial vehicles. REE is partnering with industry leaders, including Rockwell Automation and Expert Technologies, for robotics and automated assembly. The company expects to double its global capacity by 2023 with the opening of its North American Integration Center in Austin, Texas. The Integration Center in Coventry will serve as a blueprint for future centers. REEs manufacturing approach aims to create efficiency, savings, and scalability. The company plans to host customer and media visits later this year.
CustomersPartners
growth-positive
REE Automotive Appoints Josh Tech as Chief Operations Officer
REE Automotive has appointed Josh Tech as its chief operations officer (COO). Josh brings over 23 years of experience in complex product development and launch, industrialization, infrastructure development, engineering, supply chain, quality, and operations management. He will be based in the U.S. and lead all aspects of REEs operations, manufacturing, and global expansion management. REE is preparing for full vehicle prototype testing in 2022 and aims to achieve commercial production of its electric vehicle platforms in 2023. The companys integration centers in Austin, Texas, and Coventry, UK will serve demand in North America and Europe, with a focus on the commercial launch of REEs P7 platform for commercial electric vehicles. The appointment of Josh Tech is seen as a positive move for REEs growth and long-term success.
Management Changes
growth-positive
REE הישראלית מציגה ב-CES: שלדת רכב חשמלית עם טווח של כ-600 ק"מ כלכליסט
Israeli company REE has unveiled a new platform for commercial vehicles at the CES technology exhibition in Las Vegas. The platform is designed for urban distribution vehicles that can travel at speeds of up to 130 km/h and cover a range of 595 kilometers between charges. The platform, called 7P, can accommodate vehicles up to 7.6 meters long and has a width of up to 2.4 meters. It has a maximum payload capacity of four tons. REE has based the platform on specifications received from a major US commercial vehicle manufacturer, but has not disclosed the name of the company or whether any future orders have been received. REE began trading on the Nasdaq in July 2021 after completing a merger with SPAC 10X CAPITAL VENTURE.
PartnersInvestmentAcquisition
growth-positive
Hitachi and REE Automotive Agree on Collaboration to Advance and Simplify the Adoption of Sustainable Electric Vehicles Globally - REE
Hitachi America, Ltd. and REE Automotive have formed a strategic agreement to accelerate the adoption of electric vehicles (EV) and enable EV manufacturing at scale. They will co-create a Data-as-a-Service (DaaS) and Analytics-as-a-Service (AaaS) platform to develop advanced digital solutions for REE customers. The partnership aims to bring a modular, smart EV solution to market for various segments, including delivery, logistics, and mobility-as-a-service. The collaboration will help achieve carbon emissions goals and create a complete, connected ecosystem for commercial mobility and transportation. Hitachis expertise in energy, mobility, manufacturing, and digital technologies, along with REEs innovative approach to EV and autonomous vehicles, will drive the transition to zero-emission commercial vehicles. Hitachis extensive sales network and relationships will also benefit REE. The partnership is expected to have a positive impact on the growth of both companies.
PartnersCustomers
growth-positive
REE Expands Shareholder Access to Its Financial Results Release
REE Automotive has partnered with Say Technologies to utilize their communication platform for its upcoming third quarter earnings call. The platform will allow investors to submit and upvote questions to management ahead of the call, increasing transparency and accessibility. Shareholders can submit questions through the Say Connect platform, and a selection of questions will be addressed during the Q&A portion of the call. The live webcast of the conference call can be accessed through REEs Investor Relations website. REE Automotive is an automotive technology leader that aims to empower companies to build electric or autonomous vehicles of any size or shape.
Partners
growth-positive
REE announces nomination of American Axle to supply next generation 3-in-1 electric drive technology Automotive World
REE Automotive has announced a partnership with American Axle & Manufacturing (AAM) Holdings to supply high-performance electric drive units (EDU) for REEs vehicles. AAMs 3-in-1 electric drive technology will be integrated into REEcorners, which combine critical vehicle components into a single compact module. The partnership will enable REE to develop prototypes by the end of 2021 and begin full volume production by 2024. REEs modular EV platforms offer more interior space and design flexibility compared to traditional vehicles. The partnership with AAM will support REEs growth and help bring the best technology to customers.
Partners
growth-positive
REE Automotive Awarded £12.5 Million GBP Funding from the UK Government
REE Automotive has been awarded £12.5 million GBP funding from the UK government to advance the commercial production of its REEcorner™ technology and ultra-modular EV platforms. The funding is part of a £41.2 million GBP investment coordinated through the Advanced Propulsion Centre (APC). The investment aligns with the UK governments goal of accelerating the shift to zero-emission vehicles and decarbonizing the countrys transport networks. The funding will support the development, validation, and testing of REEs technology, which enables fully-flat EV platforms and offers enhanced payload capacity, body design flexibility, and autonomous capability. The investment is expected to contribute to a reduction of nearly 32 million tons of carbon emissions. REE Automotive sees the funding as a reaffirmation of its commitment to the UK and its plans for mass production.
Investment
growth-positive
Israeli EV platform co REE completes Nasdaq SPAC merger
REE Automotive has completed a merger with SPAC 10X Capital Venture Acquisition Corp. at a pre-money valuation of $3.1 billion. The company raised $288 million and is now traded on Nasdaq. REE announced the opening of a US headquarters in Austin, Texas, and plans to employ 150 people.
AcquisitionPublic TradingManagement ChangesExpand
growth-positive
REE Automotive Announces Strategic Collaboration with JB Poindexter & Co Business Unit, EAVX, to Develop Commercial Electric Vehicles
REE Automotive, an e-Mobility leader, is in the process of closing its merger with 10X Capital Venture Acquisition Corp. and has announced a strategic collaboration with EAVX, a wholly owned business unit of JB Poindexter & Co. The collaboration aims to develop zero-emission, commercial EV work trucks for existing and new customers, integrating REEcorners and JBPCO commercial vehicle body solutions. The partnership will also focus on growing their joint customer base and bringing EVs to North American markets.
Partners
growth-positive
American Axle Partners with Israeli Company on Electric Propulsion System, Receives Grant for Electric Drive Tech - DBusiness Magazine
American Axle and Manufacturing has partnered with REE Automotive to develop a new electric propulsion system. The partnership will incorporate AAMs electric drive units into REEs modular REEcorner technology. AAM will receive $5 million in funding from the U.S. Department of Energy to advance the development of its electric drive technology. The cooperative agreement will support the research and development of a low-cost, high-performance, heavy rare earth-free, three-in-one electric drive unit. AAMs electric drive technology is scalable for all hybrid and battery electric vehicle segments.
Partners
growth-positive
יצרנית השאטלים האוטונומיים NAVIA תשתמש בפלטפורמה של REE הישראלית כלכליסט
French autonomous shuttle company NAVYA and Israeli electric platform company REE have announced a joint development of an autonomous driving system. NAVYA already operates hundreds of autonomous shuttles worldwide, including two in Israel. The partnership with REE is the first step towards NAVYAs use of REEs electric platform, which is set to go public through a merger with an American SPAC at a valuation of $3.6 billion. NAVYA plans to use the autonomous system and REEs platform for driverless delivery vehicles as well. REEs platform, equipped with electric motors, suspension, brakes, and steering system, is developed in various sizes, from small urban delivery vehicles to small urban buses.
PartnersExpand
growth-positive
REE Partners With Magna To Bring Modular Electric Vehicles To Market
Israeli startup REE Automotive has signed a collaboration agreement with Canadian mobility tech firm Magna International to develop Modular Electric Vehicles (MEVs) under the Powered by REE brand. The collaboration will combine REEs REEcorner technology with Magnas vehicle systems integration expertise and manufacturing capabilities. The partnership aims to create customizable vehicles for tech companies and new electric mobility players. REE Automotive emerged from stealth mode in 2019 with its flat and modular platform for electric vehicles. The collaboration with Magna could put REE Automotive on the fast track to support a broad range of EVs. The two companies will also explore potential collaboration in the Light Commercial Vehicle sector for Mobility-as-a-Service.
PartnersExpand
growth-positive
REE Automotive opens UK-based engineering Center of Excellence
Israeli e-mobility startup REE Automotive has announced the establishment of a new Engineering Center of Excellence. The center will receive a $92 million investment over three years and is expected to create 200 jobs. This investment will accelerate the engineering design, validation, verification, and testing of REE Automotives REEcorner and Electric Vehicle technology. The company recently merged with 10X Capital Venture Acquisition Corp. and has secured funding from strategic investors including Koch Strategic Platforms, Mahindra & Mahindra, and Magna International. REE Automotive plans to go public via a SPAC and aims to begin mass production of its REEcorner technology and modular EV platforms in 2023.
InvestmentExpand
REE Automotive to List on NASDAQ Through Merger with 10X Capital Venture Acquisition Corp
growth-positive
REE Automotive in negotiations for a $3-4 billion Nasdaq SPAC merger
REE Automotive, an Israeli developer of modular platforms for electric vehicles, is in negotiations to go public on Nasdaq via a SPAC at a valuation of between $3-4 billion. The negotiations have been ongoing for the past three months and are expected to be completed in January 2021. Merging with a SPAC allows companies to enter the market without filing a prospectus or explaining their business model. If the merger goes ahead, REE is expected to receive access to the SPACs funds and additional investments through PIPE. REE has already signed partnerships with companies like Mahindra, AAM, KYB, Musashi, NSK, and Mitsubishi Corporation. The company has also attracted investments from Mitsubishi, Toyota, Fiat Chrysler, and local investors.
Public TradingInvestmentPartners
growth-positive
REE forms strategic partnership with Iochpe-Maxion to develop and manufacture exclusive wheel and chassis designs for its modular EV platform
REE Automotive, an electric platform leader, and Iochpe-Maxion, a global leader in the production of automotive wheels, have announced a partnership to co-develop and manufacture an exclusive wheel design and chassis solution for REEs corner modules and electric vehicle platform. The partnership will leverage Maxions wheel and chassis capabilities for REEs production demands. The collaboration is expected to result in a lighter electric vehicle platform with more free space for alternative propulsion sources.
Partners
growth-positive
REE Automotive revs up e-engine with 3 new Next-Gen prototypes
Israeli electric vehicle company REE Automotive showcases new prototypes of EV platforms, aiming to change the future of e-Mobility. REE has developed two core innovations: the REEcorner and the REEboard. The company has raised over $160 million to date and has recently partnered with Indian manufacturer Mahindra. The video showcases three modular next-generation EV platforms, demonstrating REEs proprietary technology. The platforms are autonomous-ready and can be used for various applications such as last-mile delivery, passenger transport, and commercial vans. REE aims to be the industry leader in next-gen EV platforms and is experiencing market growth due to the increasing demand for EV fleets.
PartnersInvestment
growth-positive
Israel-based REE Automotive establishes collaboration with Mahindra to develop electric commercial vehicles
REE Ltd has signed a partnership with Mahindra & Mahindra to develop and manufacture electric commercial vehicles. The partnership is expected to support a customer need of approximately 250,000 vehicles over a few years. REE will leverage its electric vehicle corner module and platform technology, while Mahindra will provide vehicle design and engineering expertise. The partnership will allow REE to expand its technology faster and at scale. The CEO of REE is optimistic about the collaboration and believes it will address customer needs and drive EV technology forward. The technology developed by REE can be applied to various types of vehicles, including autonomous vehicles.
Partners
growth-positive
israeli start-up REE automotive develops ultra-flexible EV 'skateboard platform'
Israeli start-up REE automotive aims to revolutionize the auto industry with their modular EV platform, which is also autonomous ready. The platform, featuring the REEcorner and REEboard innovations, allows for complete freedom of design for the body and offers three times the typical space for batteries. The start-up is supported by automotive partners including Mitsubishi, KYB, and FIAT Chrysler Automobiles.
CustomersPartners
growth-positive
Israel-based REE recognized as game-changer, granted Bloomberg award
Tel Aviv-based REE Automotive has won the 2020 BloombergNEF Pioneer award for its breakthrough EV platform. The companys main product is the REEcorner, which integrates all traditional drive components into the arch of the wheel, allowing for a flexible and modular electric platform. REE has partnerships with Hino Motors Ltd. and Fiat Chrysler. Its valuation has increased from $86 million in 2018 to $4 billion in its most recent fundraising round. REEs investors include Mitsubishi, Fiat Chrysler, Musashi, NSK, Tenneco, Meitav Dash Investments, Israel Land Development Insurance Company, and Vered Binat.
PartnersInvestment
growth-positive
KYB Corporation Partners With REE Automotive to Develop Next-Generation Modular EV Platform
REE Automotive and KYB Corporation have announced a strategic partnership to develop suspension capabilities for future electric vehicle platforms. KYBs suspension systems will enhance REEs next-generation EV platform, offering design freedom and cost-effective solutions. The partnership expands REEs global manufacturing capabilities and revolutionizes electric vehicle design. The partnership marks the first collaboration between KYB and a technology company on EV platforms. REE is excited to welcome KYB as a strategic automotive partner, bringing expertise in advanced suspension systems. REEs next-generation EV architecture is completely flat, scalable, and modular, providing customers with design freedom and multiple benefits.
Partners
growth-positive
REE Automotive Named to Fast Company's Annual List of the World's Most Innovative Companies for 2020
REE Automotive has been named to Fast Companys prestigious annual list of the Worlds Most Innovative Companies for 2020. REEs disruptive technology enables a complete flat and modular chassis, allowing multiple body configurations on a single platform. The companys platform integrates various vehicle components into the wheel, increasing efficiency. REEs technology is aimed at revolutionizing the development of connected, autonomous, shared, and electric (CASE) vehicles. The recognition from Fast Company highlights REEs commitment to innovation and its potential impact on the future of transportation.
Expand
growth-positive
The Israeli startup reinventing the wheel
Israeli electric vehicle startup REE is in the middle of a funding round that values the company at more than 2 billion shekels ($580 million). The funding round reflects a major step forward for the company, which was previously valued at 300 million shekels. REEs innovative technology offers a modular chassis that integrates a vehicles motor, steering, suspension, drivetrain, sensing, braking, and electronics into its wheels. The company has formed partnerships with global automotive industry players, including Mitsubishi, Musashi Seimitsu, and American Axle & Manufacturing. REEs technology has the potential to be used in the autonomous driving world and is expected to benefit from the rapid growth of the global electric vehicle market.
InvestmentPartnersExpand
growth-positive
Israel's REE gets behind wheel with Japan's Hino Motors
Israeli company REE has unveiled its flat-chassis technology inside Hino Motors new FlatFormer modular chassis concept at the Tokyo Motor Show. The partnership with Hino Motors is REEs first Japanese partner in the commercial market. REEs technology supports any size electric vehicle and simplifies model development cycles. The partnership was facilitated by Million Steps, a business development firm.
Partners
growth-positive
Softwheel: The $140 million company that reinvents the wheels -
Softwheel, a company that designs wheels with a built-in suspension system, has raised $25 million in funding to further develop its new wheel design. The company, valued at $140 million, aims to provide a less painful experience for wheelchair users and cyclists when riding on uneven surfaces. The wheel, available in sizes 24 and 25, can be fitted on wheelchairs and bicycles, and its suspension arms absorb the impact of riding on cobblestone streets or other uneven terrains. Softwheel was founded by Gilad Wolf, who started the company while recovering from a broken pelvis in 2008. The funding was secured through Rad-Biomed Technology Accelerator, an organization that supports life science companies in Israel.
Investment
SoftWheel is Delighted to Announce an R&D and Manufacturing Partnership, as well as an Investment by Musashi Seimitsu, a Leading Automotive Tier1 Player
growth-positive
SoftWheel Raises $25 Million to Reinvent the Wheel
Tel Aviv-based SoftWheel Ltd. has raised $25 million in a funding round, bringing the companys valuation to $140 million. Japans Musashi Seimitsu Industry Co. Ltd. invested $6 million in the round and also signed a strategic collaboration agreement with SoftWheel. The Israeli company develops a shock absorbing wheel with an in-wheel adaptive suspension system for the bicycle, automotive, and wheelchair industries. SoftWheel has existing collaborations with Ford and IVECO S.p.A. The investment from Musashi Seimitsu will help SoftWheel further develop and manufacture automotive technology.
InvestmentPartners
growth-positive
Auto Parts Maker Linamar Partners with Israeli Startup to Produce Shock-Absorbing Wheels
Linamar Corporation, a Canadian automotive parts company, is investing millions of dollars in a production line for wheels developed by SoftWheel Ltd., an Israel-based startup. The production line will be located at a Linamar plant in Canada and will have the capacity to manufacture hundreds of thousands of wheels a year for use in wheelchairs and bicycles. SoftWheel has developed a wheel that replaces spokes with shock absorbers, making the ride more comfortable and energy efficient. SoftWheel already has customers lined up through the end of the year, including city bike-share programs. The startup is also looking to enter the automotive market and has begun working with Linamar on research and development. Linamar CEO Linda Hasenfratz hinted that SoftWheel technology has potential for broader mobility applications in the future.
InvestmentPartners
growth-positive
Israeli smart wheel co SoftWheel raises $10m
Israeli smart wheel startup SoftWheel has completed its third financing round, raising $10 million. The companys shock absorption technology is currently being applied in bicycle and wheelchair wheels, with plans to enter the shared transportation segment. SoftWheel has signed distribution and strategic cooperation agreements for both wheelchairs and bicycles, aiming to cut maintenance costs and improve rider safety and comfort. The company also has a strategic agreement with US company Numotion for the US wheelchair market. SoftWheel is expected to lead activity in the shared transportation segment in cities such as Madrid, Milan, New York, and Los Angeles.
PartnersInvestmentExpand
SoftWheel by Numotion Now Available in the United States for Manual Wheelchairs
growth-positive
SoftWheel reveals plan to vanquish flat tires forever
SoftWheel, an Israeli company known for its innovative automatic suspension system, is entering the automotive sector with its Enduro car wheel. The company aims to bring the same improvements it has made to wheelchairs and bicycles to automobiles, including eliminating flat tires, improving energy efficiency, maneuverability, safety, and weight. SoftWheel has opened a factory in Charlotte, North Carolina, and plans to open another in the Czech Republic. The company has distributor agreements with Living Spinal, Da Vinci Mobility, and Red One Medical Devices, as well as a partnership with Crawford Composites. SoftWheel has also provided wheelchairs to over 100 veterans in the US through nonprofit organizations. The company has seen strong demand for its products.
CustomersPartners
