Microvast Holdings, Inc. and REE Automotive Ltd. announced the signing of a supply and purchase agreement. Under the terms of the agreement, Microvast, through its wholly-owned subsidiary Microvast GmbH, will offer MV-C Gen 4 HpCO high-energy lithium-ion battery packs which will contribute as energy storage system for “Powered by REE” EV platforms. Customers will benefit from this partnership by combining REE's zero-emission commercial vehicles with Microvast's cutting-edge battery technology that offers high energy density, high power performance, long cycle life, and fast charging capabilities (full charge in 30 min.). With its vertical integration capabilities, Microvast is expected to provide proprietary battery technology and exceptional cell chemistry to fulfill REE's power, density, charging time, and cycle life requirements.

Microvast batteries' outstanding safety characteristics sync perfectly with REE's goal of offering best-in-class safety for its EV platforms. REE's revolutionary, award-winning REEcorner™ technology incorporates vehicle drive components including steering, braking, suspension, powertrain, and control into a compact module between the chassis and the wheel, allowing the industry's flattest EV platform with seamless integration to any AD system. The REE P7 platform will be powered by Microvast's MV-C Gen 4. The REE P7 is suitable for applications such as commercial trucks, school buses, walk-in vans, and delivery box trucks. REE's scalable and modular architecture allows any platform size from class 1-6. Microvast offers consistent modularity with its battery systems and can fulfill the requirements of all of REE's EV platform sizes.