REE Automotive Provides Corporate and Business Updates and Reports Second Quarter 2024 Financial Results

Completed $45.35 million Registered Direct offering led by M&G and Motherson securing production capital needs Signed strategic agreement with Motherson, a global automotive supplier, to strengthen REE's supply chain management and cost structure, improve working capital efficiencies and expand outreach to global OEMs Kicked-off U.S. production in Michigan with Roush as contract manufacturer for full vehicle assembly, with start of production planned for Q4 2024 and deliveries in 2025 Narrowed Q2 2024 net l ...