REE Automotive's P7-C Electric Trucks and Platforms Approved for $30,000 Incentive Per Vehicle in Massachusetts

Core Insights - REE Automotive's class 4 software-driven commercial electric vehicle (EV) has been approved for the Massachusetts MOR-EV truck incentive, allowing for significant cost savings for fleets [2][3] - The total potential savings per vehicle can reach up to $70,000 when combined with federal credits, representing a 37% reduction in costs [2][3] Company Overview - REE Automotive is an automotive technology company specializing in full by-wire electric trucks and platforms, enabling the construction of various electric vehicle shapes and sizes on modular platforms [5] - The company's proprietary REEcorner® technology integrates essential vehicle components into a compact module, allowing for the flattest EV platforms in the industry, which enhances passenger and cargo space [5] Incentive Programs - The Massachusetts MOR-EV truck incentive offers $30,000 per truck, which, when combined with federal incentives, significantly lowers the cost for fleets [2][3] - REE Automotive is actively pursuing additional incentives in other states, including California's HVIP, to further support the electrification of fleets [3] Market Position - REE's technology positions the company to lead in e-mobility, with capabilities for future-proofing and autonomous vehicle readiness, while also reducing the total cost of ownership for fleets [5] - The company has achieved a significant milestone by being the first to FMVSS certify a fully by-wire vehicle in the U.S., showcasing its innovative approach in the automotive sector [5]