REE developed a futuristic platform where all of a vehicle's components previously found under the hood are integrated into the wheels.

Over 120 entries from 24 countries were recorded for this year's competition honoring companies developing cutting-edge renewable energy products and services.

The US business magazine listed over 400 companies and organizations across 44 sectors and regions.

The company, which recently emerged from stealth mode, was established by the founders of Israel's SoftWheel.