Frost & Sullivan Names REE Automotive as 2021 Global EV Platform Company of the Year
08 Settembre 2021 - 12:00PM
Business Wire
REE Automotive LTD (NASDAQ: “REE”), a leader in e-mobility,
today announced that Frost & Sullivan has recognized REE as the
2021 Global EV Platform Company of the Year. The award is based on
Frost & Sullivan’s analysis of the global automotive market and
its evaluation of REE’s excellence in best practices for innovation
and customer impact.
Benny Daniel, vice president at Frost & Sullivan, stated:
“REE’s corner module technology and EV platforms continue to excel
by offering customers the ability to reshape their EV design and
system integration, paving the way for the future of e-mobility and
modularity in automobiles. As the automobile industry undergoes
rapid transformation, Frost & Sullivan applauds REE's
leadership aspiration in delivering the most up-to-date modular EV
platforms.” Frost & Sullivan determined that “REE’s technology
will provide significant operational and functional advantages over
the traditional EV fleets industry in the future due to its
excellent long-term customer benefits.”
“It is an honor to be recognized by Frost & Sullivan as
Company of the Year in our industry as we strive to make the future
of electric mobility more efficient, reliable, and scalable,” said
Daniel Barel, Co-Founder and CEO at REE. “We believe our REEcorner™
technology can be the cornerstone of next-generation EVs and
autonomous vehicles. Thank you to Frost & Sullivan for
acknowledging the work that our team puts into innovating for the
future.”
Frost & Sullivan’s research and analysis indicates that EV
demand has grown by 280% over the last 3 years, reaching
approximately 2 million units sold globally. This conclusion comes
as increasingly more countries are committing to reduce carbon
emissions by 2030 and reach carbon neutrality, or zero emissions,
by 2050. REEcorner™ technology is designed to enable OEMs to launch
multiple models of EVs quickly as critical vehicle components
(including steering, braking, suspension, powertrain, and control)
are housed in a single compact module positioned between the
chassis and the wheel, resulting in a fully flat, modular EV
platform. REEcorner™ technology and ultra-modular EV platforms
allow logistics and delivery companies, mobility-as-a-service
providers, and new mobility players to design mission-specific EVs
“Powered by REE” for virtually any target and application.
See REEcorner™ technology in action:
https://youtu.be/DtrFdSb3r64
About REE Automotive
REE is an automotive technology leader creating the cornerstone
for tomorrow’s zero-emission vehicles. REE’s mission is to empower
global mobility 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. Our revolutionary, award-winning
REEcorner technology packs traditional vehicle drive components
(steering, braking, suspension, powertrain and control) into the
arch of the wheel, allowing for the industry’s flattest EV
platform. Unrestricted by legacy thinking, REE is a truly
horizontal player, with technology applicable to the widest range
of target markets and applications. Fully scalable and completely
modular, REE offers multiple customer benefits including complete
vehicle design freedom, more space and volume with the smallest
footprint, lower TCO, faster development times, ADAS compatibility,
reduced maintenance and global safety standard compliance.
Headquartered in Tel Aviv, Israel, with subsidiaries in the USA,
the UK and Germany, REE has a CapEx-light manufacturing model that
leverages its Tier 1 partners’ existing production lines. REE’s
technology, together with its unique value proposition and
commitment to excellence, positions REE to break new ground in
e-Mobility.
For more information visit: www.ree.auto
Caution About Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts,
may be forward-looking statements. Words such as “may,” “will,”
“should,” “likely,” “anticipates,” “expects,” “intends,” “plan,”
“projects,” “believes,” “views,” “estimates”, “future”, “allow”,
“aims”, “strives” “endeavors” and similar expressions are used to
identify these forward-looking statements. These statements
include, among other things, the Company’s statements about the
Company’s strategic and business plans, relationships or outlook,
the impact of trends on and interest in its business, intellectual
property or product and its future results. These forward-looking
statements are based on REE’s expectations and beliefs concerning
future events and involve risks and uncertainties that may cause
actual results to differ materially from current expectations.
These factors are difficult to predict accurately and may be beyond
REE’s control. Forward-looking statements in this communication or
elsewhere speak only as of the date made and REE undertakes no
obligation to update its forward-looking statements, whether as a
result of new information, future developments or otherwise, should
circumstances change, except as otherwise required by securities
and other applicable laws. In light of these risks and
uncertainties, investors should keep in mind that results, events
or developments discussed in any forward-looking statement made in
this communication may not occur. Uncertainties and risk factors
that could affect REE’s future performance and cause results to
differ from the forward-looking statements in this release include,
but are not limited to: REE’s ability to commercialize its
strategic plan; REE’s ability to maintain and advance relationships
with current Tier 1 suppliers and strategic partners; development
of REE’s advanced prototypes into marketable products; REE’s
ability to grow and scale manufacturing capacity through
relationships with Tier 1 suppliers; REE’s estimates of unit sales,
expenses and profitability and underlying assumptions; REE’s
reliance on its UK Engineering Center of Excellence for the design,
validation, verification, testing and homologation of its products;
REE’s limited operating history; risks associated with plans for
REE’s initial commercial production; REE’s dependence on potential
suppliers, some of which will be single or limited source;
development of the market for commercial EVs; intense competition
in the e-mobility space, including with competitors who have
significantly more resources; risks related to the fact that the
Company is incorporated in Israel and governed by Israeli law;
REE’s ability to make continued investments in its platform; the
impact of the ongoing COVID-19 pandemic and any other worldwide
health epidemics or outbreaks that may arise; the need to attract,
train and retain highly-skilled technical workforce; changes in
laws and regulations that impact REE; REE’s ability to enforce,
protect and maintain intellectual property rights; REE’s ability to
retain engineers and other highly qualified employees to further
its goals; and other risks and uncertainties set forth in the
sections entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in REE’s final prospectus relating to
its business combination filed with the U.S. Securities and
Exchange Commission (the “SEC”) on July 1, 2021 and in subsequent
filings with the SEC. While the list of factors discussed above and
the list of factors presented in the final prospectus are
considered representative, no such list should be considered to be
a complete statement of all potential risks and uncertainties.
Unlisted factors may present significant additional obstacles to
the realization of forward-looking statements.
About Frost & Sullivan
Frost & Sullivan is the Growth Pipeline Company™. We power
our clients to a future shaped by growth. Our Growth Pipeline as a
Service™ provides the CEO and the CEO's growth team with a
continuous and rigorous platform of growth opportunities, ensuring
long-term success. To achieve positive outcomes, our team leverages
over 60 years of experience, coaching organizations of all types
and sizes across 6 continents with our proven best practices. To
power your Growth Pipeline future, visit Frost & Sullivan at
http://www.frost.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210908005414/en/
Investor Relations Limor Gruber VP Investor Relations |
REE Automotive +972-50-5239233 investors@ree.auto
Media Keren Shemesh Chief Marketing Officer | REE
Automotive +972-54-5814333 media@ree.auto
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