close

Zero-emission technology company REE Automotive has named Austin, Texas, the new headquarters for its US headquarters. The Israel-based electric mobility company is now looking to capitalize on a growing market in North America by opening a headquarters in Lone Star State, alongside an integration center for assembly and testing of its proprietary technologies.

REE Automotive is an electric mobility solutions company based in Tel Aviv, Israel, with additional subsidiaries in the US, UK and Germany.

The company specializes in the development and manufacture of modular EV platforms for B2B transactions in addition to its proprietary REEcorners. This year alone, REE announced collaborations with Magna International and Toyota’s Hino Motors.

Last February, REE announced an ongoing SPAC merger with 10X Capital Venture Acquisition Corp. ($ VCVC), raking in $ 500 million in gross revenue to accelerate mass production in 2023.

Yesterday, the business combination has been approved by shareholders and officially closed. This morning, REE debuted on the Nasdaq under the ticker $ REE.

REE Automotive is now launching into the running following its approved merger by announcing a new head office on American soil.

A REE corner module / Source: REE Automotive

REE Automotive’s new headquarters will be in Austin, Texas

In A press release this morning, REE Automotive shared plans for a U.S. headquarters in the booming city of Austin, Texas, promising more than 150 jobs over the next few years.

Additionally, Austin will house REE’s first asset light integration center, where it will assemble and test its REEcorner technology and modular electric vehicle platforms.

The new integration center brings REE’s technology to current and future North American automotive partners. REE co-founder and CEO Daniel Barel shares his thoughts on the city:

Establishing our US headquarters in Austin, Texas best positions us for rapid growth and expansion. Austin is fast becoming a global hotbed for elite tech professionals. REE must continue to grow and prosper, and Austin’s drive and entrepreneurial spirit fits perfectly with REE’s culture and values. Our presence in the United States will allow us to capitalize on the incredible opportunities in the United States market and to connect with our customers and partners based in North America, including Magna International and JB Poindexter, as we work together to develop and deliver modular electric vehicles (MEV).

A representative from REE Automotive said Electrek the company will inaugurate the new headquarters and the new integration center this year.

Construction is expected to be completed in the second half of 2022 and has an annual capacity of 40,000 modular EV platforms.

FTC: We use automatic affiliate links which generate income. Following.

Electrek T-shirt

Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.


Source link

Rodney N.

The author Rodney N.

Leave a Response