Israeli startup REE, an e-mobility company that recently announced earlier this month that it would merge with 10X Capital Venture Acquisition Corp. in order to list on NASDAQ, is also announcing the launch of a new state-of-the-art Engineering Center of Excellence in the United Kingdom
The new center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology.
REE emerged from stealth mode in July 2019 after six years in development to introduce its unprecedented approach to vehicles specifically for the electric vehicle (EV) market. The company developed an entirely flat and modular platform in which the motor, steering, suspension, drivetrain, sensing, brakes, thermal systems, and electronics are all integrated into the vehicle’s wheels.
All components previously found under the hood of the car would now be incorporated into the vehicle base and the inner wheel space would contain electric motors and a miniature gearbox.
The flat design offers customers the freedom to place any shape or size of body design on top,” the company has said.
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 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.
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REE expects to establish a network of 15 integration centers with the first one set to open in the US in 2021. REE also plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries.
The REEcorner integrates all critical vehicle components (steering, braking, suspension and powertrain) into the arch of the wheel.
“With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition Corp. 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,” said Daniel Barel, REE co-founder and CEO, “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.”
Lord Grimstone of Boscobel Kt, Minister for Investment at the Department for International Trade says the UK is the most welcoming location for a pioneering automotive company like REE, thanks to the country’s leading position in CAM (Connected and Automated Mobility) and vehicle electrification.
“The Government’s multimillion ‘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,” he said.
“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,” added Mike Charlton, REE’s COO, who is responsible for the launch.