TEL AVIV, Israel –
REE Automotive Ltd. (NASDAQ: “REE”), a leader in e-mobility, today announced the nomination of American Axle & Manufacturing (AAM) Holdings, Inc. (NYSE: AXL), a leading global Tier 1 automotive supplier, to supply REE with its high-performance electric drive units (EDU).
AAM’s award-winning 3-in-1 electric drive technology – which places the electric motor, gearbox and inverter into a single package – will be integrated into REEcorner technology. AAM’s high-speed, highly integrated 3-in-1 propulsion systems are designed to provide the highest levels of torque and power density, a great match for REE’s compact and modular REEcorners as they offer more power with less weight and packaging volume.
The electric drive units will be developed at AAM’s Advanced Technology and Development Center in Detroit with delivery of prototypes planned by the end of 2021 with full volume production expected by 2024. The initial integration will be for prototype builds for a U.S.-based delivery van program.
REEcorners™ integrate critical vehicle components (inc. steering, braking, suspension, powertrain & control) into a single compact module positioned between the chassis and the wheel. REE uses true x-by-wire technology to control each of the corners of the vehicles with full drive-by-wire, brake-by-wire and steer-by-wire, expected to deliver vehicle stability, responsiveness and safety with fully independent wheel control. REE’s corner technology enables building modular, fully-flat EV platforms with more room for passengers, cargo and batteries – as much as 35% greater interior space as compared to internal combustion vehicles or conventional EVs. REE’s EV platforms afford complete freedom of design, enabling auto-manufacturers, OEMs, delivery & logistics companies, and new mobility players to design EVs based on their exact specifications while reducing time-to-market, lowering TCO and meeting zero-carbon regulations.
Daniel Barel, REE Co-Founder and CEO: “This supplier nomination is an important step in our production progress as we remain totally focused on execution. With our nomination of AAM, an innovator in electric propulsion systems, we are securing future capacity of EDUs to support our growth and advancing our goal of partnering with leading automotive suppliers to bring the best technology to customers for flexible end-use options. In AAM we have a found a partner with the experience and expertise that will help propel a zero-emissions future in line with our vision.”
About REE Automotive
REE (Nasdaq: REE) is an automotive technology leader whose mission is to empower 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. REE aims to serve as the underpinning on top of which EVs and AVs will be built and envisions a future where EVs and AVs will be ‘Powered by REE’.
REE’s revolutionary technology – the REEcorner™ – packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel, enabling REE to build the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE uses x-by-wire technology to control each of the corners of the vehicles with full drive-by-wire, brake-by-wire and steer-by-wire.
REE’s EV platforms afford complete freedom of design, enabling auto-manufacturers, OEMs, delivery & logistic fleets, Mobility-as-a-Service providers and new mobility players to design mission-specific EVs and AVs based on their exact business requirements and significantly reduce their time-to-market, lower TCO and meet zero-carbon regulations.
Headquartered in Herzliya, Israel, REE has an Engineering Center in the UK, as well as subsidiaries worldwide including Japan and Germany, and plans to open its U.S. headquarters and first Integration Center in Austin, Texas. REE’s unique CapEx-light manufacturing model leverages Tier-1 partners’ existing production lines; the company’s extensive partner ecosystem encompasses leading names including Hino Motors (truck arm of Toyota), Magna International, JB Poindexter, and American Axle & Manufacturing to provide a full turnkey solution.
REE’s patented technology, together with its unique value proposition, position it to break new ground in e-Mobility. For more information visit https://www.ree.auto.
AAM (NYSE: AXL) delivers POWER that moves the world. As a leading global Tier 1 automotive supplier, AAM designs, engineers and manufactures driveline and metal forming technologies that are making the next generation of vehicles smarter, lighter, safer and more efficient. Headquartered in Detroit, AAM has approximately 20,000 associates operating at nearly 80 facilities in 17 countries to support our customers on global and regional platforms with a focus on quality, operational excellence and technology leadership. To learn more, visit www.aam.com.
VP Investor Relations, REE Automotive
Chief Marketing Officer, REE Automotive