Israel-based REE Automotive, which recently announced its merger with 10X Capital Venture Acquisition to go public, has announced setting up of a new state-of-the-art Engineering Centre of Excellence in MIRA Technology Park in the UK. The new centre will expedite REE’s strategic plans to meet anticipated global demand for its REEcorner and electric vehicle (EV) platform technology.
The Engineering Center 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.
The company says through its unique capex-light manufacturing model will utilise globally located integration centres, creating scalable and agile unit economics. It intends to assemble components at its integration centres, thus reducing capex requirements, and expects to establish a network of 15 integration centres with the first one set to open in the US in 2021. REE plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.
Daniel Barel, co-founder and CEO, REE Automotive said: "I am excited to announce another major milestone for REE towards bringing our technology and products to the market as we expand our global footprint. With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition 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. The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Center is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.”
REE's technology enables 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. Its proprietary REEcorner X-by-wire technology integrates all critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel. This 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).
REEcorner integrates all drivetrain, powertrain, suspension and steering components into the wheel arch, enabling the REEboard, a fully flat and modular electric chassis.
Lord Grimstone of Boscobel Kt, Minister for Investment at the Department for International Trade: "The UK is the most welcoming location for a pioneering automotive company like REE thanks to our leading position in both CAM and vehicle electrification. The government's multi-million ‘Driving the Electric Revolution’ program, which drives forward new solutions in automotive power electronics, motors and drives, has played a major role in bringing this exciting investment to the UK. I wish the company every success in its new home."
Mike Charlton, COO, REE, who is responsible for the launch stated, "A key driver in our decision to establish our presence in the UK is the UK government's forward-thinking vision and zero-emissions policy that perfectly aligns with REE's goal of heralding a more sustainable, greener future for our generation and those to come.”
The opening of REE’s new Engineering Center 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.
Autocar Professional's February 15 issue features REE Automotive's Daniel Barel exclusive column