The latest collaboration aims to bring to market fully Modular Electric Vehicles powered by REE to fulfill the next-generation EVs of leading tech firms.
FREMONT, CA: REE Automotive, an electric mobility innovator, announces a strategic collaboration agreement with Magna International, a mobility technology firm, to bring to market innovative, full-fledged Modular Electric Vehicles (EVs) for tech firms and new electric mobility players under the Powered by REE brand. The strategic partnership will explore the combination of REEs groundbreaking REEcorner technology with Magna’s vehicle systems integration expertise and world-class manufacturing potentials to develop MEVs that enable commercial customers to customize vehicles based on their specifications and branding while boosting the time to market. REE and Magna working together under the Powered by REE approach can assist bring their vision to life.
The evolving mobility landscape is launching new business model opportunities for Magna with the systems potential and unique ability to design, engineer, and assemble vehicles. The company is excited about the collaboration with REE and the potential to provide another capability to help potential new customers and Mobility-as-a-Service.
REE and Magna will also find potential collaboration in global mobility by creating a Mobility-as-a-Service (MaaS) venture in the Light Commercial Vehicle (LCV) sector that uses REEs proprietary X-by-Wire REEcorner and EV platform technology and Magna’s industrial footprint and potentials. The cornerstone of the collaboration is REEs proprietary REEcorner technology, which combines critical vehicle components into an area between the chassis and the wheel. The corners create a single compact module where each corner is managed by REEs proprietary X-ray by Wire control technology.
REE technologies are tailored to support the creation of MEVs with maximum payload potential for transporting passengers and cargo and achieving the lowest Total Cost of Ownership (TCO). EVs are developed with a lower center of gravity than vehicles with the motor located between the wheels and enable for taller cabins and lower step-in height, yielding cargo ability than conventional EV platforms. MEVs Powered by REE could offer more packages per kWh, further enhancing operational benefits for customers like tech firms and new e-mobility players.