TEL AVIV, Israel, April 09, 2025 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE), an automotive technology company that develops and builds software-defined electric vehicles, is the recipient of Frost & Sullivan’s 2025 Company of the Year award in the North American Electric Medium-Duty Vehicle Platform Industry category. The award honors REE for its innovative software-defined modular platform, which delivers scalable and flexible solutions to help OEMs and fleet operators address major challenges in today’s electric vehicle (EV) landscape.
“We are honored to receive Frost & Sullivan’s prestigious award, which reinforces our position as a leader in the automotive technology market,” said Daniel Barel, CEO and co-founder of REE. “This recognition validates our clear vision and technology evolution, as well as our ability to deliver industry-leading solutions that directly address today’s pressing challenges. By doing what we do best – staying focused on our proprietary technology and bringing scalable, software-defined vehicles to market – we are empowering OEMs and fleet operators with the solution they need in this rapidly evolving landscape.”
As the medium-duty vehicle industry continues to evolve, REE stands at the forefront of the software-defined, autonomous-ready EV market, addressing growing demand for efficient, sustainable and cost-effective solutions. The company’s modular platform supports a wide range of vehicles, including last-mile delivery trucks, cargo vans and passenger vehicles. REE’s proprietary REEcorner® technology integrates critical components like steering, braking, suspension and drivetrain into a single compact module, enabling customers to rapidly customize vehicles for various applications while potentially reducing operational costs and accelerating time to market.
“REE Automotive’s biggest benefit to its customer is its technologically advanced modular software-defined EV platforms with its proprietary REEcorner technology that can integrate key components into compact modules as a result optimizing space utilization, increasing overall system efficiency resulting in lower Total Cost of Ownership (TCO),” said Marshall Martin, Program Manager, Commercial Mobility, Frost & Sullivan. “A major advantage REE Automotive’s customers have is that these platforms are made future-ready with REE’s Unified Architecture (RUA) merging its hardware features and software applications into one seamless operating system.”
The company’s technology has already gained traction with several key industry players, including U-Haul, Penske Truck Leasing and Airbus UpNext. Unlike traditional automotive architectures, REE’s fully by-wire platform is designed from the ground up to integrate with autonomous driving systems, supporting autonomy without requiring extensive vehicle modifications for compatibility. REE is redefining fleet electrification and software-defined vehicle (SDV) technology by offering a modular, autonomous-ready and software-defined platform.
REE is focused on scaling its production capabilities and forging strategic industry partnerships in order to accelerate the evolution of its SDV platforms to drive the future of electrification. This includes its strategic partnership with Motherson Group to support manufacturing and manage the global supply chain as well as a newly signed non-binding memorandum of understanding (MOU) with a global technology company with the intent to produce autonomous-driving (AD) vehicles based on REE’s existing P7 platform by 2027, pending the execution of a definitive agreement.
Frost & Sullivan’s Company of the Year Recognition is its top honor and recognizes the market participant that exemplifies visionary innovation, market-leading performance and unmatched customer care. Industry analysts evaluate market participants through interviews, analyses and extensive secondary research to identify best practices and recognize companies that achieve outstanding performance. Frost & Sullivan prepares its own reports and analyses and REE was not involved in the production, preparation, editing, or approval of Frost & Sullivan’s report and is not obligated to respond to or correct any statements made therein.
To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.
About REE Automotive
REE Automotive Ltd. (Nasdaq: REE) is a technology company enabling the next generation of software-defined vehicles (SDVs). Powered by REE® vehicles manage operations and features through proprietary software, enhancing safety, modularity and performance in passenger and commercial vehicles. At the core of REE’s SDV technology is a single unified layer powered by the company’s system-on-chip, redundant architecture capable of real-time, complex decision making on vehicle dynamics, energy management and autonomy. REE has a global supply chain supported by multibillion dollar international supplier, Motherson Group, REE’s second largest investor. Together with a leading automotive contract manufacturer in Detroit, REE plans to produce Powered by REE vehicles at scale. REE’s SDV technology is also available through a licensing model, offering OEMs and others a way to improve their cost structure, accelerate time to market and enhance their product offering. The company is targeting first deliveries of its flagship P7-C electric truck in the first half of 2025, and plans for continued growth by completing, not competing with global OEM’s future vehicle lineups. With a certified SDV architecture, REE allows automakers and fleet operators to unlock new mobility possibilities. Learn more at www.ree.auto.
Media Contact
Malory Van Guilder
Skyya PR for REE Automotive
+1 651-335-0585
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Investor Contact
Dana Rubinstein
Chief Strategy Officer for REE Automotive
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Caution About Forward-Looking Statements
This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses REE scaling its production capabilities, forging new strategic industry partnerships and further developing its software-defined vehicle (SDV) platforms to support the next generation of electrification, the evolution of the medium-duty vehicle industry, and the beginning of production in connection with of L4 autonomous vehicles under REE’s non-binding MOU (pending a definitive agreement). In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “can,” “estimate,” “expect,” “foresee,” “intend(s),” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on suppliers and potential suppliers, which include single or limited source suppliers; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to a lack of compliance with Nasdaq’s minimum bid price requirement or other Nasdaq listing rules; future sales of our securities by existing material shareholders or by us that could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of fluctuations in interest rates, inflation, and foreign exchange rates; the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate (including the recent policy changes by the Trump Administration); the ongoing Gaza war and other military conflict in Israel; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
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