REE’s new platform approach, together with its exclusive network of Tier 1 partners, provides access to hundreds of production lines, thereby enabling REE to play a defining role in leading the transition to a low carbon economy.
Industry experts selected ten BNEF Pioneer winners from a pool of global applicants for the prestigious BNEF awards, which is now in its eleventh year. Candidates were scrutinised against three demanding criteria: the potential to scale the opportunity; the level of innovation of the technology or business model and the novelty it brings to the market; and momentum as demonstrated by strong commercial development.
“REE is literally reinventing the wheel with its revolutionary approach, putting intelligence and drive inside [the arch of] each of the four wheels of a chassis to create a new, flexible and modular electric platform, which gives customers complete design freedom to build their vehicles” said Michael Wilshire, Selection Committee Chair and Head of Strategy at BloombergNEF.
Bringing a disruptive approach to automotive legacy design, REE’s patented REEcorner modules integrate all drivetrain, powertrain, suspension and steering components into the arch of the wheel – a pioneering by-wire control system that carries a totally flat, autonomous-ready EV platform, designed to fulfil existing and future e-mobility applications. The main benefits are increased space, total body design freedom and greatly reduced total cost of ownership (TCO). For example, each REEcorner can be replaced in less than an hour, significantly minimising vehicle downtime.
With the global EV market projected to reach $803 billion in 2027 from $162bn in 2019, REE is poised to play a leading role in the transformation of the automotive industry. The company has signed commercial orders to drive its technology to market and has established an extensive global and exclusive strategic network of partners with leading Tier 1 automotive suppliers.
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