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REE Automotive and Motherson Group Form Strategic Partnership for Electric Trucks Assembly and Supply Chain Management

Sep 16, 2024•almost 2 years ago

Contract Type

partnership

HerzliyaMotor Vehicle Manufacturing

Description

REE Automotive and Motherson Group have announced a strategic partnership, where Motherson will manage the sourcing and supply chain for the production parts and support the assembly of REE's electric trucks. Additionally, the companies have also finalized agreements for a registered direct offering to raise $45.35 million for general working capital.

Company Information

Company

REE Automotive Ltd

Location

KIBBUTZ GLIL-YAM

Herzliya, Tel Aviv, Israel

About

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’.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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