REE enters NASDAQ with a valuation of $3.1 Billion
4 February, 2021
REE Automotive has developed EV platform which is completely flat, scalable and modular. It is backed by Mitsubishi, American Axle, Musashi Seimitsu and Magna

The Tel Aviv-based REE Automotive and 10X Capital Venture Acquisition Corp (“10X SPAC”) have entered into a merger agreement for a business combination that would result in REE becoming a publicly listed company. Following the close, NASDAQ will list the combined company under the ticker “REE”. REE Automotive has developed EV platform which is completely flat, scalable and modular. The transaction values the combined company at a value of $3.1 billion.
REE’a platform is based on two core innovations: the REEcorner integrates all traditional vehicle components into the arch of the wheel, and the REEboard that provides a completely flat and modular electric platform. Each REECorner is completely independent and powered by its own ECU and consists of Electric motor, Single wheel steer-by-wire, Single wheel brake-by-wire, Multi-ratio drivetrain, Preventive maintenance AI and OTA updates.
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Posted in tags: Electric Vehicle , EV , REE Automotive