Israel's electric vehicle startup REE Automotive will be opening an Engineering Center of Excellence in the UK's MIRA technology park, creating some 200 highly skilled job openings, REE announced Tuesday.
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According to REE, the new center will expedite its strategic plans to meet anticipated global demand for its REEcorner and Electric Vehicle (EV) platform technology, which offers global mobility companies the flexibility to build electric and autonomous cars, vans and trucks of any size or shape, for any application, and any target market.
REE's proprietary REEcorner X-by-wire technology integrates all critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel.
REE expects the engineering center to spearhead REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation and access to test facilities and a proving ground for physical testing and validation of the REEcorner and EV platform.
REE's unique CapEx-light manufacturing model will utilize globally located integration centers, creating scalable and agile unit economics. REE intends to assemble components at its integration centers, thus reducing Capex requirements, and expects to establish a network of 15 integration centers with the first one set to open in the US in 2021. REE plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.
REE co-founder and CEO Daniel Barel said he was excited to announce "another major milestone" in bringing his company's technology and products to market.
"With the recent announcement that we plan to go public via a SPAC through our merger with 10X Capital Venture Acquisition Corp. and funding from long-term strategic investors, REE would have sufficient capital to accelerate mass production of REEcorner technology and modular EV platforms. The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023," Barel said.
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