Automobile parts maker American Axle & Manufacturing and Israel's REE Automotive will jointly develop an electric propulsion system to tap accelerating demand for battery-powered vehicles, the companies said on Friday.
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The propulsion system, which powers automotive vehicles, will incorporate American Axle's electric drive units into Ree's technology that integrates all the traditional vehicle chassis components into the arch of the wheel.
The electric drive units will be developed by American Axle in Detroit and prototypes will be delivered by the end of the year. Further terms of the deal were not disclosed.
