LAS VEGAS, Jan. 6, 2022 /PRNewswire/ -- REE Automotive
("REE") (NASDAQ: REE), today announced the appointment of
automotive industry finance executive David
Goldberg as the company's Chief Financial Officer (CFO)
effective Feb 2022. Mr. Goldberg joins REE from Magna
International, one of the world's largest automotive suppliers,
where he is currently Senior Vice President of Corporate
Development, following a role as Vice President of Finance and
Corporate Development at the company.
Mr. Goldberg brings to REE 20 years of experience in corporate
finance, mergers & acquisitions, and management consulting with
progressively senior roles at Morgan Stanley, Bain & Company,
Greenhill & Co. and Magna International. In his new role
as REE's CFO, Mr. Goldberg will lead all aspects of REE's financial
functions, strategic industry partnerships and investor relations.
Based in North America, Mr.
Goldberg succeeds Mr. Hai Aviv, who
has been REE's CFO since 2018 and who led the company's growth from
stealth mode through to its successful listing on Nasdaq.
Mr. Goldberg joins REE at a momentous time in the company's life
as it has signed new strategic partnerships with global leaders
such as Hitachi, Magna, JB Poindexter and Toyota's Hino Motors and
as the company ramps up its production plans for REEcorners™ and EV
platforms, with REE on schedule to release prototypes by end of
2022.
Daniel Barel, REE Co-Founder and
CEO: "David is an outstanding addition to the REE team, and we are
excited to have him join us. His proven financial track record and
his expertise in the automotive industry will be a tremendous asset
to REE as we embark on the next stage in our upward trajectory,
remaining laser-focused on executing our business plan. Since we
started REE almost a decade ago, having the best team to execute
our strategy has always been paramount to our success and part of
our steadfast commitment to deliver value to the market, our
customers, partners and investors. And as such, I want to thank Hai
for his long-term close partnership and contributions to our
success. I am grateful for his years of leadership at REE,
including taking us through our public listing."
"REE has developed groundbreaking technology set to
revolutionize the EV market space which is seeing a massive shift
towards vehicle electrification," said Mr. Goldberg. "REE is
uniquely positioned to capitalize on the significant EV market
opportunity and serve as the underpinning for zero-emission
electric and autonomous vehicles. I am excited to join REE at such
a pivotal stage and help steer the company through this next phase
of growth."
About REE Automotive
REE (Nasdaq: REE) is an
automotive technology leader whose mission is to empower 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. REE aims to serve as the underpinning on top of which EVs
and AVs will be built and envisions a future where EVs and AVs will
be 'Powered by REE'.
REE's revolutionary technology – the REEcorner™ – packs critical
vehicle components (steering, braking, suspension, powertrain and
control) into a single compact module positioned between the
chassis and the wheel, enabling REE to build the industry's
flattest EV platforms with more room for passengers, cargo and
batteries. REE uses x-by-wire technology to control each of the
corners of the vehicles with full drive-by-wire, brake-by-wire and
steer-by-wire.
REE's EV platforms afford complete freedom of design, enabling
auto-manufacturers, OEMs, delivery & logistic fleets,
Mobility-as-a-Service providers and new mobility players to design
mission-specific EVs and AVs based on their exact business
requirements and significantly reduce their time-to-market, lower
TCO and meet zero-carbon regulations.
Headquartered in Herzliya, Israel, REE has an Engineering Center in the
UK, as well as subsidiaries worldwide including Japan and Germany, and plans to open its U.S.
headquarters and first Integration Center in Austin, Texas. REE's unique CapEx-light
manufacturing model leverages Tier-1 partners' existing production
lines; the company's extensive partner ecosystem encompasses
leading names including Hino Motors (truck arm of Toyota), Magna
International, JB Poindexter, Navya and American Axle &
Manufacturing to provide a full turnkey solution.
REE's patented technology, together with its unique value
proposition, position it to break new ground in e-Mobility. For
more information visit https://www.ree.auto.
Caution About Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts,
may be forward-looking statements. Words such as "may," "will,"
"should," "likely," "anticipates," "expects," "intends," "plan,"
"projects," "believes," "views," "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, technology, relationships, 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 and technologies, including its new P7 platform;
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 REE's plans for
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; 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
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.
Caroline Hutcheson
Head of Communications, REE Automotive
media@ree.auto
+1-252-314-2028
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SOURCE REE Automotive