REE Automotive Kick-Off U.S. Production With Roush Industries as Contract Manufacturer

Core Insights - REE Automotive Ltd. has partnered with Roush Industries to assemble its P7 electric truck lineup at Roush's facility in Detroit, with production set to begin in Q4 2024 and an annual capacity of up to 5,000 trucks [1][2][3] - Motherson will manage the global supply chain and logistics for the U.S. production, focusing on cost reduction and improved unit economics [1][3] - The P7 electric trucks utilize REE's proprietary REEcorner® technology, which allows for a flat electric chassis and increased interior volume, making them suitable for various applications [4][8] Company Overview - REE Automotive is an automotive technology company specializing in electric vehicles, offering modular platforms that allow for design flexibility and efficient production [8] - Roush Industries has extensive experience in vehicle manufacturing, providing capabilities that align with REE's production needs and business model of building vehicles to order [5][6] - The P7 lineup is designed to be autonomous-ready and can be powered by batteries or fuel cells, catering to the growing demand for electric commercial vehicles [4][8] Production and Logistics - The assembly of the P7 vehicles will be supported by a joint team from REE and Motherson, ensuring quality assurance and efficient logistics [2][3] - The partnership aims to accelerate production ramp-up and enhance cash flow generation for REE [1][3] - REE has established a network of 78 service and sales locations across North America, with access to over 200 fleets in the U.S. and Canada [4]