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OFFON

REE AUTOMOTIVE LTD.

(REE)
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Hino Motors to Join REE Automotive With Platform Display at CES 2022

12/09/2021 | 08:00am EST

TEL AVIV, Israel, Dec. 09, 2021 (GLOBE NEWSWIRE) --

  • REE Automotive Ltd. (NASDAQ: REE) and Hino Motors (TYO:7205) expand their shared vision on future electric mobility to data-as-a-service and charging infrastructure solutions development
  • Companies on track for hardware prototypes by FY2022
  • Concept model of Hino and REE’s joint EV platform, the FlatFormer, makes U.S. debut on display in REE’s booth at CES in Las Vegas Jan. 5-8
  • The companies’ joint exhibit at CES reinforces the strength of Hino and REE’s enduring partnership
  • REE and Hino teams will be available together for business meetings and media interviews
  • REE and Hino are working together to bring to market their shared vision of providing new value to society through next-generation commercial mobility.
  • Through their joint business alliance, the companies plan to bring to market their solution through the ideal next-generation commercial vehicles, with additional prototype development underway.

Business and Media Contact
Caroline Hutcheson
Head of Communications, REE Automotive
+1 252.314.2028
media@ree.auto

About Hino Motors

Hino Motors, Ltd. is a Toyota Group company selling trucks and buses in more than 80 countries in 2020. Number of employees totals 35,000 globally and produces vehicles in over 20 countries including the 4 major plants in Japan. Hino slogan is “Trucks and buses that do more”. To put “Trucks and buses that do more” into practice, Hino will provide “appropriate products with safety and environment technologies”, “ultimately customized total support for customers”, and “challenge new fields”.

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, Navya 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.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/41195aa9-b7e2-4e11-bc98-eeb8b858a395

https://www.globenewswire.com/NewsRoom/AttachmentNg/9f8d298a-d6c2-431a-bfc4-236186fb17c1

https://www.globenewswire.com/NewsRoom/AttachmentNg/5cbed9ed-ebcd-4b8f-a909-4f3463bcf668


Primary Logo

FlatFormer

Hino and REE’s joint EV platform, the FlatFormer
REE and Hino Together at CES 2022

REE and Hino Together at CES 2022
REE and Hino

REE and Hino
Source: REE Automotive Inc

2021 GlobeNewswire, Inc., source Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
HINO MOTORS, LTD -2.98% 944 Delayed Quote.-0.42%
REE AUTOMOTIVE LTD. -1.35% 4.4 Delayed Quote.-20.72%
TOYOTA MOTOR CORPORATION -2.48% 2284.5 Delayed Quote.8.50%
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Analyst Recommendations on REE AUTOMOTIVE LTD.
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Financials (USD)
Sales 2021 0,71 M - -
Net income 2021 -496 M - -
Net cash 2021 259 M - -
P/E ratio 2021 -2,20x
Yield 2021 -
Capitalization 1 379 M 1 379 M -
EV / Sales 2021 1 587x
EV / Sales 2022 72,5x
Nbr of Employees 231
Free-Float 73,4%
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Mean consensus BUY
Number of Analysts 5
Last Close Price 4,40 $
Average target price 12,20 $
Spread / Average Target 177%
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Managers and Directors
Daniel Barel Chief Executive Officer & Director
Haim Aviv Chief Financial Officer
Arik Shteinberg Chairman
Ahishay Sardes Director & Chief Technology Officer
Michael-John Charlton Chief Operating Officer
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