- REE and Magna will also explore potential collaboration in global mobility through the creation of a “Mobility-as-a-Service” (MaaS) venture in the Light Commercial Vehicle (LCV) sector
- It will help to develop MEVs that enable commercial customers to customize vehicles based on their specifications and branding, while accelerating time to market
REE Automotive Ltd (REE), an electric mobility (e-mobility) innovator, which recently announced its merger with 10X Capital Venture Acquisition Corp has announced a strategic collaboration agreement with Magna International Inc., a mobility technology company, with the goal of bringing to market innovative, full-fledged Modular Electric Vehicles (MEVs) for tech companies and new electric mobility players under the ‘Powered by REE’ brand. The strategic collaboration will explore the combination of REE’s groundbreaking REEcorner technology with Magna’s vehicle systems integration expertise and world-class manufacturing capabilities. This will help to develop MEVs that enable commercial customers to customize vehicles based on their specifications and branding, while accelerating time to market.
Mobility-as-a-Service” (MaaS)
Daniel Barel, REE Co-Founder and CEO, added, “We are thrilled to reach a collaboration agreement with Magna, which should help put us on the fast track to support a broad range of electric vehicles (EVs). We see a growing demand for highly modular EVs from leading tech companies and new electric mobility players who have set their sights on entering the EV realm and building a brand in automotive. REE and Magna working together under the ‘Powered by REE’ approach can help bring their vision to life.”
REE and Magna will also explore potential collaboration in global mobility through the creation of a “Mobility-as-a-Service” (MaaS) venture in the Light Commercial Vehicle (LCV) sector that leverages REE’s proprietary X-by-Wire REEcorner and EV platform technology as well as Magna’s industrial footprint and capabilities.
