REE Automotive signs strategic collaboration agreement with Magna

Collaboration aims to bring to market fully Modular Electric Vehicles (MEVs) ‘Powered by REE’, to fulfill the growing needs for next generation EV of leading tech companies and new electric mobility players, accelerating their time-to-market at scale.

  • REE and Magna to explore Modular Electric Vehicles to be ‘Powered by REE’, based on REEcornerTM Technology
  • Establishment of Go-to-Market teams to identify vehicle development opportunities as well as markets and customers
  • Focus to be on tech companies and new electric mobility companies seeking to develop, operate and utilize new products and services in the commercial EV domain
  • Explore global Mobility-as-a-Service (MaaS) business model opportunities for Light Commercial Vehicles

Tel Aviv, Israel – April 12, 2021 – REE Automotive Ltd (REE), an electric mobility (e-mobility) innovator which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC) today announced a strategic collaboration agreement with Magna International Inc., a mobility technology company, with the goal of bringing to market innovative, full-fledged Modular Electric Vehicles (MEVs) for tech companies and new electric mobility players under the ‘Powered by REE’ brand.

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REE Automotive Signs Strategic Collaboration Agreement with Magna – REE