REE's EV platforms are designed to deliver significant
operational & functional benefits and advance
e-mobility
LONDON, Sept. 9, 2021 /PRNewswire/ -- Based on its
recent analysis of the global automotive EV platform market, Frost
& Sullivan recognizes REE Automotive Ltd. (Nasdaq: "REE") with
the 2021 Global EV Platform Company of the Year Award.
REEcorner™ technology packs critical vehicle components (e.g.
steering, braking, suspension, powertrain and control) into a
single compact module located between the chassis and the wheel,
thus enabling fully-flat EV platforms. REE's modular EV platforms
are designed to offer enhanced payload capacity by providing more
room for carrying passengers, cargo and batteries and enhanced body
design flexibility and autonomous capability. REE's EV
platforms are built to provide significant value to original
equipment manufacturers (OEMs) delivery and logistic companies,
e-commerce retailers, Mobility-as-a-Service and new mobility
players, with the goal of allowing them to introduce new EV models
rapidly and at lower costs.
"Powered by x-by-wire technology, REE's corner module moves the
vehicle's core functions into a compact area between the chassis
and the wheel. It ensures improved steering, braking, suspension,
and drive capability, with front, rear, and all-wheel drive options
and comprehensive drive-by-wire, brake-by-wire, and steer-by-wire
technology," said Benny Daniel, vice
president at Frost & Sullivan.
REE's EV platforms based on the REEcorner technology are
designed to enable greater vehicle design flexibility, lower
maintenance costs, capability upgrades via over-the-air technology,
and interoperability with sophisticated driver aid systems amongst
other benefits. Moreover, the company is well-positioned to support
sustainability initiatives with platforms geared to meet
zero-emissions requirements.
The REE corner module design can power modular EVs with high
load capacity including flexible battery packaging and sizing for
transporting passengers and cargo. These benefits are geared to
afford a low total cost of ownership, and shorter development time
frames than traditional EV skateboard chassis designs. The
platform's scalability makes it ideal for an extensive range of EV
deployments, including commercial vehicles, mobility-as-a-service
providers and last-mile and logistics companies.
"REE's disruptive technology is adaptable to a spectrum of
target markets and applications. Its REE corner technology is
designed to allow OEMs to create customized EV platforms while
still reducing the time-to-market of new models," noted Norazah
Bachok, Best Practices research analyst at Frost & Sullivan.
"Overall, REE's delivery of advanced e-mobility services to
customers through its modular and unique technology solidifies its
leadership position within the corner modules industry."
Each year, Frost & Sullivan presents a Company of the Year
award to the organization that demonstrates excellence of growth
strategy and implementation in its field. The award recognizes a
high degree of innovation with products and technologies, and the
resulting leadership of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies
in a variety of regional and global markets for demonstrating
outstanding achievement and superior performance in areas such as
leadership, technological innovation, customer service, and
strategic product development. Industry analysts compare market
participants and measure performance through in-depth interviews,
analyses, and extensive secondary research to identify best
practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned
for its role in helping investors, corporate leaders, and
governments navigate economic changes and identify disruptive
technologies, Mega Trends, new business models, and companies to
action, resulting in a continuous flow of growth opportunities to
drive future success. Contact us: Start the discussion. Contact us:
Start the discussion.
Contact:
Bianca Torres
P: 1.210.477.8418
E: bianca.torres@frost.com
About REE Automotive Ltd.
About REE Automotive
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
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
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.