Electric Vehicle

REE Automotive signs strategic collaboration agreement with Magna

REE Automotive Ltd announced a strategic collaboration agreement with Magna International Inc., with the goal of bringing to market innovative, full-fledged Modular Electric Vehicles (MEVs) for tech companies and new electric mobility players under the ‘Powered by REE’ brand.

The partnership will explore the combination of REE’s REEcornerTM technology with Magna’s vehicle systems integration expertise and manufacturing capabilities, to develop MEVs that enable commercial customers to customize vehicles based on their specifications and branding.

MEVs utilizing REEcornerTM will have full flexibility to custom-tailor EVs based on a selection of the following:

  • EV platform size
  • Preferred length, width and vehicle height
  • Payload capacities
  • Drive and steering based on REE’s X-by-Wire technology (all-wheel, front and rear)
  • Battery capacity
  • Power source (battery or fuel cell), and more.

REE and Magna will also explore potential collaboration in global mobility through the creation of a “Mobility-as-a-Service” (MaaS) venture in the Light Commercial Vehicle (LCV) sector that leverages REE’s proprietary X-by-Wire REEcornerTM and EV platform technology as well as Magna’s industrial footprint and capabilities. 

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