Aiming to service the EV requirements of new electric mobility players, this collaboration plans to develop fully modular electric vehicles using REE’s corner technology and accelerate their time-to-market at scale
REE’s ambitious plans have seen it form other strategic partnerships with Mahindra and KYB, to leverage manufacturing expertise and production networks in order to develop and deliver modular EV platforms built around its REEcorner technology.
Now with Magna’s vehicle systems integration expertise and manufacturing capabilities, the partners say they will look to develop MEVs that enable commercial customers to customise vehicles based on their specifications and branding, while accelerating time to market.
REE and Magna say they will also create a “Mobility-as-a-Service” (MaaS) venture in the Light Commercial Vehicle (LCV) sector that leverages REE’s proprietary X-by-Wire REEcorner and EV platform technology as well as Magna’s industrial footprint and capabilities.
Daniel Barel, REE Co-Founder and CEO, commented, “We are thrilled to reach a collaboration agreement with Magna, which should help put us on the fast track to support a broad range of electric vehicles (EVs). We see a growing demand for highly modular EVs from leading tech companies and new electric mobility players who have set their sights on entering the EV realm and building a brand in automotive. REE and Magna working together under the ‘Powered by REE’ approach can help bring their vision to life.”
“The evolving mobility landscape is opening new business model opportunities for Magna with our systems capability and unique ability to design, engineer and assemble vehicles,” said Eric Wilds, Chief Sales & Marketing Officer of Magna. “We are excited about our collaboration with REE and our ability to offer another capability to support potential new customers and Mobility-as-a-Service.”