The new engineering centre will spearhead REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation. REE will also have access to world-class test facilities and a proving ground for physical testing and validation of the REEcorner and EV platform at the MIRA Technology Park in the UK.
REE's technology empowers global mobility companies with the flexibility to build electric and autonomous cars, vans and trucks of any size or shape, for any application, and any target market. REE's proprietary REEcorner X-by-wire technology integrates all critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel. This groundbreaking concept, unique to REE, allows a completely flat and modular electric chassis and provides customers with full design freedom to create the broadest range of electric and autonomous vehicles. EVs and AVs built on REEcorner and EV platform technology will offer more room for passengers, cargo, and batteries in a manner unprecedented in the industry. REE’s proprietary technology is agnostic to vehicle size and design, power-source and driving mode (human or autonomous).
REE’s CapEx-light manufacturing model will utilise globally located integration centres, creating scalable and agile unit economics. The company intends to assemble components at these integration centres, thus reducing Capex requirements. It hopes to establish a network of 15 such integration centres with the first one to open in the US in 2021. The company also plans to manufacture the platform via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.
“With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition Corp. and funding from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International, REE would have sufficient capital to accelerate mass production of REEcorner technology and modular EV platforms” said Daniel Barel, REE's Co-Founder and CEO. “The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Centre is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.”
Lord Grimstone of Boscobel Kt, Minister for Investment at the Department for International Trade, added that the UK is the most welcoming location for a pioneering automotive company like REE thanks to the UK’s leading position in both CAM and vehicle electrification and that the Government's multi-million ‘Driving the Electric Revolution’ programme, which drives forward new solutions in automotive power electronics, motors and drives, has played a major role in bringing this investment to the UK.
The opening of REE’s new Engineering Centre at MIRA Technology Park in the UK - Europe’s leading mobility R&D location for developing the latest automotive technology - is anticipated to create approximately 200 highly skilled jobs in the next few years.
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