Ree Automotive picks Austin for North American HQ
23 July 2021
Texas city will also be home to Ree’s Integration Center.
Ree Automotive Ltd. has announced that it will open a U.S. headquarters in Austin, Texas, to address the U.S. market’s demand for mission-specific EVs from delivery and logistics companies, mobility-as-a-service and new technology players. In addition, Austin will be the location of Ree’s first asset-light Integration Center for the assembly and testing of its REEcorner technology and modular EV platforms.
The new Integration Center will offer Ree’s technology to its existing and future automotive partners in North America, enabling them to build modular EVs “Powered by Ree.” The Tel Aviv, Israel-based company is exploring several collaborations with a number of Koch Industries Inc. companies, to support and accelerate the establishment of the integration center in Austin. Koch Strategic Platforms LLC, a subsidiary of Koch Industries, is an investor in Ree, as well. The Ree Austin facility is expected to create approximately 150 jobs in upcoming years.
“Establishing our U.S. headquarters in Austin, Texas, best positions us for growth and rapid expansion,” said Daniel Barel, Ree’s co-founder and CEO. “Austin is fast becoming a worldwide home for elite technology professionals. Ree needs to continue growing and thriving, and Austin’s dynamism and entrepreneurial spirit definitely fit Ree’s culture and values. Our U.S. presence will allow us to capitalize on the incredible opportunities in the U.S. market and put us closer to our North American-based customers and partners, including Magna International and JB Poindexter, as we work together to develop and deliver modular EVs (MEVs).”
REEcorner technology integrates vehicle components, including steering, braking, suspension, powertrain and control, into a single compact module between the chassis and the wheel, using x-by-wire technology for steering, driving and braking. The company said the design enabled it to develop a modular, fully-flat skateboard chassis with more room for passengers, cargo and batteries that will be highly adaptable to customers.
EV platforms using REEcorners are agnostic to vehicle size and design, power-source and driving mode, enabling Ree to target what it said is a $700 billion total addressable market, and help OEMs and delivery fleets get to market faster at a fraction of the cost.
Ree said it intends to tap into a global network of Tier 1 partners’ manufacturing capacity, with full point-of-sale component assembly and testing set to take place in the Integration Centers. It expects this manufacturing process to significantly reduce capital expenditures and increase its global presence and market share.
“Ree’s Integration Centers will be designed to be fully modular and scalable to ensure the Company achieves projected production volumes,” said Michael Charlton, REE’s COO. “ The state-of-the-art centers will utilize automation, including Automated Guided Vehicles (AGVs), for the optimal movement of assemblies, with the goal of increasing automation levels to Industry 4.0 Technology and beyond.”