REE Automotive (REE), an e-Mobility startup, has announced plans to establish a state-of-the-art Engineering Center of Excellence at MIRA Technology Park in the UK. The centre will be at the heart of REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation. The site also afford REE access to MIRA’s test facilities and proving ground for physical testing and validation.
This news follows REE’s recent announcement of its merger with 10X Capital Venture Acquisition Corp. and the securing of funding from long-term investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International. REE says that these agreements give the company sufficient capital to accelerate mass production of its REEcorner technology and modular EV platforms.
REE’s platform designs are intended to enable global mobility companies 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. This concept allows a completely flat and modular electric chassis and gives design freedom to create a broad range of electric and autonomous vehicles. EVs and AVs built on REEcorner and EV platform technology should offer more room for passengers, cargo and batteries. The technology is agnostic to vehicle size and design, power-source and driving mode (human or autonomous).
As part of its plan to being the technology to market, REE has implemented a low capital expenditure (“CapEx-light”) manufacturing model that uses integration centres around the world to create scalable and agile unit economics. REE intends to assemble components at its integration centres, thus reducing Capex requirements, and expects to establish a network of 15 integration centres, with the first one set to open in the USA 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.
The opening of the centre at MIRA Technology Park is anticipated to create approximately 200 highly skilled jobs over the next few years.
Daniel Barel, REE’s Co-Founder and CEO stated, “The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Center is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.”
Lord Grimstone of Boscobel Kt, Minister for Investment at the UK’s Department for International Trade added, “The UK is the most welcoming location for a pioneering automotive company like REE thanks to our leading position in both CAM and vehicle electrification. The Government’s multi-million ‘Driving the Electric Revolution’ programme, which drives forward new solutions in automotive power electronics, motors and drives, has played a major role in bringing this exciting investment to the UK. I wish the company every success in its new home.”
Mike Charlton, REE’s COO, who is responsible for the launch stated, “A key driver in our decision to establish our presence in the UK is the UK government’s forward-thinking vision and zero-emissions policy that perfectly aligns with REE’s goal of heralding a more sustainable, greener future for our generation and those to come.”