TEL AVIV, Israel, April 05, 2022 (Globe NEWSWIRE) — REE Automotive (“REE”) (Nasdaq: REE), nowadays introduced the appointment of functions and producing executive Josh Tech as the company’s chief functions officer (COO). Josh joins REE soon after serving on Tesla’s Operations Management Team as Head of the New Product or service/Manufacturing Introduction team. Previously, he oversaw manufacturing development and launch at a throughout the world leader in automotive exterior layout, advancement, and production, and most not long ago served as Vice President of Production and Engineering for 1 of America’s most advanced design technologies companies, Plant Prefab. Dependent in the U.S., Josh replaces Michael Charlton, who will serve as strategic advisor on manufacturing, extending his many years of international automotive and manufacturing experience to the REE leadership group.
Josh delivers above 23 decades of experience to REE in complex item improvement & start, industrialization, infrastructure progress, engineering, supply chain, high-quality, and operations administration. As REE’s COO, Josh will be primarily based in the U.S. and guide all areas of REE’s functions, producing, and international growth administration, such as leveraging his one of a kind talent for the start of REE’s integration centers in Austin, Texas, and Coventry, British isles.
Josh joins REE at a momentous time for the organization, as it prepares for full auto prototype screening for consumers in 2022 on its path in the direction of business creation of its REEcornersTM and modular REEboardTM EV platforms in 2023. Underneath his leadership, REE’s integration centers will serve demand from customers in North The united states and Europe with first concentrate on the commercial start of REE’s P7 system, intended to electric power professional electric cars this sort of as stroll-in supply vans, buses, and leisure automobiles.
“I’m psyched to welcome Josh to the leadership crew. We sought out his prosperity of knowledge in introducing new goods and scaling producing as we introduce our P7 platform to the current market,” claimed Daniel Barel, REE co-founder and main government officer. “An remarkable crew is crucial to executing our mission of accelerating EV adoption, and Josh’s deep automotive and know-how functions knowledge – and enthusiasm – will be priceless as we go on to progress on our organization strategy toward organization orders and get started of creation. Mike will stay a vital aspect of REE’s management in a broader, strategic role as we develop our partnerships and strategy for world execution. I am grateful for his devoted get the job done to position us for advancement and long-expression results.”
“I am thrilled to be part of REE centered on the innovative mother nature of the products and how it allows a enormous shift to world commercial car or truck electrification. The REEplatformTM can be utilized to all helps make, styles, and purposes of business electric powered vehicle – the enterprise certainly provides ‘flexible’ electrification to the full mobility marketplace,” stated Josh. “I search ahead to taking part in an vital purpose in bringing this groundbreaking technologies to industry and aiding lead the company via this important time period of advancement.”
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About REE Automotive
REE (Nasdaq: REE) is an automotive engineering leader whose mission is to empower firms to create any dimensions or form of electric powered or autonomous motor vehicle – from Class 1 by way of Class 6 – for any software and any concentrate on current market. REE aims to provide as the underpinning on top rated of which electric powered automobiles (“EVs”) and autonomous automobiles (“AVs”) will be built and envisions a long term where EVs and AVs will be “Powered by REE” TM.
REE’s groundbreaking technology – the REEcornerTM – packs vital auto elements (steering, braking, suspension, powertrain and handle) into a single compact module positioned in between the chassis and the wheel, enabling REE to create fully-flat EV platforms with extra room for passengers, cargo and batteries. REE plans to use its proprietary X-By-Wire management technological innovation to management just about every REEcornerTM of the autos with comprehensive travel-by-wire, brake-by-wire and steer-by-wire capabilities.
REE’s EV platforms are built to deliver clients with complete liberty of structure, enabling vehicle-makers, OEMs, shipping & logistic fleets, Mobility-as-a-Assistance suppliers and new mobility gamers to structure mission-certain EVs and AVs based mostly on their specific enterprise requirements and appreciably lower their time-to-market place, decreased complete charge of possession and comply with zero-carbon regulations.
Headquartered in Glil Yam, Israel, REE has an Engineering Heart in the Uk, as effectively as subsidiaries in Japan and Germany, and ideas to open up its U.S. headquarters and 1st Integration Middle in Austin, Texas. REE’s exceptional CapEx-gentle manufacturing model leverages Tier-1 partners’ present generation strains the company’s in depth spouse ecosystem encompasses primary names which include Hino Motors (truck arm of Toyota), Magna Worldwide, JB Poindexter, Navya and American Axle & Manufacturing to give a total turnkey remedy.
REE’s patented technologies, collectively with its special price proposition, posture it to break new floor in e-Mobility. For more facts take a look at https://www.ree.vehicle.
Caution About Ahead-Looking Statements
This conversation features sure ahead-on the lookout statements inside the meaning of the Non-public Securities Litigation Reform Act of 1995. Forward-hunting statements involve, but are not confined to, statements concerning REE or its administration team’s anticipations, hopes, beliefs, intentions or strategies pertaining to the long run. In addition, any statements that refer to projections, forecasts or other characterizations of potential situations or instances, which includes any underlying assumptions, are ahead-seeking statements. The words and phrases “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would” and identical expressions (or the negative version of these types of text or expressions) may perhaps detect ahead-wanting statements, but the absence of these words and phrases does not mean that a statement is not ahead-hunting. All statements, other than statements of historical info, may possibly be ahead-searching statements. Ahead-wanting statements in this interaction might incorporate, amongst other issues, statements about REE’s strategic and enterprise ideas, technological innovation, interactions, aims and anticipations for our business, the impression of traits on and curiosity in our small business, intellectual house or products and its long term final results, operations and money general performance and situation
These ahead-looking statements are primarily based on info accessible as of the date of this interaction and current expectations, forecasts, and assumptions. Even though REE thinks that the expectations mirrored in forward-searching statements are acceptable, such statements entail unknown quantity of hazards, uncertainties, judgments, and other aspects that could induce our real results, functionality or achievements to be materially distinct from any foreseeable future success, performance or achievements expressed or implied by ahead-seeking statements. These factors are challenging to forecast properly and may be past REE’s command. Ahead-searching statements in this conversation speak only as of the day produced and REE undertakes no obligation to update its ahead-on the lookout statements, irrespective of whether as a result of new information, long term developments or in any other case, should circumstances modify, except as usually needed by securities and other relevant guidelines. In mild of these risks and uncertainties, investors need to maintain in thoughts that benefits, events or developments mentioned in any forward-hunting assertion created in this conversation could not come about.
Uncertainties and possibility variables that could affect REE’s upcoming general performance and could result in actual success to differ contain, but are not restricted to: REE’s potential to commercialize its strategic system REE’s capacity to sustain and advance interactions with latest Tier 1 suppliers and strategic partners improvement of REE’s superior prototypes into marketable goods REE’s potential to expand and scale producing capacity by interactions with Tier 1 suppliers REE’s estimates of device sales, bills and profitability and underlying assumptions REE’s reliance on its British isles Engineering Center of Excellence for the style, validation, verification, testing and homologation of its solutions REE’s limited functioning record dangers involved with options for REE’s initial industrial manufacturing REE’s dependence on likely suppliers, some of which will be solitary or minimal resource growth of the market for commercial EVs intense competitors in the e-mobility area, which includes with opponents who have significantly extra resources challenges related to the truth that REE is included in Israel and ruled by Israeli legislation REE’s means to make continued investments in its platform the effects of the ongoing COVID-19 pandemic and any other globally health and fitness epidemics or outbreaks that could crop up and adverse global problems, which include macroeconomic and geopolitical uncertainty the want to attract, educate and keep remarkably-competent complex workforce modifications in legislation and polices that impression REE REE’s capability to implement, shield and maintain intellectual property rights REE’s skill to keep engineers and other hugely experienced staff to further more its plans and other dangers and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Observe With regards to Ahead-Looking Statements” in REE’s yearly report submitted with the U.S. Securities and Trade Commission (the “SEC”) on March 28, 2022 and in subsequent filings with the SEC.
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