REE Unveils A Next Gen Software-Driven Electric Commercial Vehicle Platform Designed With Leading Delivery Fleet

- The P7-S, the next generation class 5 stripped chassis, utilizing P7 REEcorners^® to enable a fully-flat platform with low step-in height, modular configuration, high payload, and revolutionary all wheel steer

- The new software-driven stripped chassis allows OEMs and fleet owners to upgrade their current platform to full by-wire

- Customer delivery of the first next-gen P7-S demo to leading fleet planned for June 2024

LAS VEGAS, May 21, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today revealed the next generation of its P7-S stripped chassis at ACT Expo in Las Vegas. The P7-S is on display for fleets and OEMs in REE’s booth #3723. The class 5 chassis was created in collaboration with a leading delivery fleet, designed to increase delivery efficiencies and improve fleet management. Customer delivery of the first next-gen P7-S demo will take place in June 2024.

P7-S utilizes the P7 REEcorners^®, making it a full by-wire chassis, and is part of the P7 program that allows for flexibility in dimensions and ultimate design freedom for fleets and body builders to develop their own purpose-built EVs such as step-vans, box trucks and vocational-specific electric vehicles. The P7-S is a full by-wire EV with both front and rear cabin configuration boosting fleet utilization and OEM compatibility.

By using the P7 REEcorners^®, the P7-S shares service and operational similarities with the P7-C which are designed to improve total cost of ownership (TCO) and spare-parts inventory management. In addition to the P7-S stripped chassis, REE offers a certified P7-C chassis cab that is eligible for U.S. federal tax credits and when combined with state incentives could reach up to $100,000 per vehicle.

The current Powered by REE^® lineup offers three ways for OEM and fleet owners to upgrade existing EVs to full by-wire, software driven technology; by incorporating REEcorners^® into their vehicles, building an electric truck on the P7-S stripped chassis, or ordering a certified P7-C cab chassis. All options allow fleets and OEMs to reduce their time to market while still allowing for a made-to-order product rather than an off-the-shelf truck.

“From the start, we have been attuned to the voice of the customer and therefore decided to design our products with fleets in mind, by working directly with them during the design process to create the best electric truck or chassis they need,” said Daniel Barel, CEO and co-founder of REE Automotive. “Based on our flagship P7 REEcorners^®, we can proliferate in a rapid and cost-effective manner our modular offering, while creating exactly what the fleets want rather than taking a ‘one size fits all’ approach. REE is working with the fleets or OEMs to bring to market a vehicle quickly and with minimal CapEx investment, and solidifying this through validation from a leading delivery fleet is a testament to our go-to-market strategy.”

Due to the modularity and scalability enabled by REEcorners^®, P7-S can be customized to meet the customer need including class (4-5), driver position, batteries, wheelbase and rear overhang.

P7-S Available Specifications:
Gross vehicle weight rating (GVWR): Class 4 (16,000 lbs) or Class 5 (18,300 lbs)
Length: 234 to 341 inches
Track width: 83.1 inches
Wheelbase: 157.5 to 236.2 inches
Battery: 84-168 kWh
Range: up to 210 miles
Platform height: 24 inches
Payload: up to 10,000 lbs
Turning diameter: min 39 ft

To schedule a meeting with REE’s sales team while at the show, visit https://ree.auto/event/act-expo-2/.

Media interested in more information or scheduling a meeting with company management may contact ree@skyya.com.

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About REE Automotive
REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE^® are equipped with the revolutionary REEcorner^®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners^® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.

Media Contact
Malory Van Guilder
Skyya PR for REE Automotive
+1 651-335-0585
ree@skyya.com

Investor Contact
Dana Rubinstein
Chief Strategy Officer | REE Automotive
investors@ree.auto