REE Automotive is an Israeli startup that’s developing a flat, scalable EV platform. The company sees its platform being used to create a wide array of EVs, from autonomous last-mile delivery vehicles to medium-duty trucks.
Just take a look: Forget putting anything on top of that platform. Give me a steering wheel and a windscreen, and I’ll drive it as-is.
REE says its innovation is cramming the EV components into the wheel arches, allowing its skateboard-like platform to be flat and modular. The wheels are pushed to the extreme corners. Automotive News reports that the platform is planned to see the light of day with the help of Magna International, bringing vital credibility to the project.
Magna has a huge footprint in the auto industry, providing everything from vehicle systems to complete cars. Last year, the company announced a collaboration with Fisker, and now it’s working with REE, bringing industry experience to the promising EV startup.
Magna is hardly a household name, despite its tight grasp on the automotive industry. Name your favorite automaker and chances are that Magna has provided a part or built a vehicle for them. Its portfolio includes building the Mercedes-Benz G-Class and making cars for the likes of BMW, Jaguar and Toyota. Magna is also involved with Fisker to build the Ocean SUV.
REE and Magna say that the EV platform can be built to the specifications of tech and e-mobility companies. REE’s CEO, Daniel Barel, sees his company’s platforms being the backbones for tech companies wanting to make their own vehicles.
The startup was already making moves before the Magna agreement. REE scored a deal with India’s Mahindra & Mahindra to develop commercial vehicles. In February, REE merged with venture capital firm 10X Capital.
Details including financial terms and a timeline for production have not been disclosed. However, Barel said that REE and Magna will split revenues, and that REE has signed agreements for orders of around 260,000 vehicles.
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