REE Automotive (NASDAQ:REE) Bolsa

REE Automotive

REE Automotive Ltd is an automotive technology company focused on building commercial electric vehicles controlled fully by-wire. The company is developing REEcorner technology which packs critical vehicle components into a single compact module positioned between the chassis and the wheel as well as building commercial Electric Vehicles (EV) leveraging REEcorner technology. The company has geographical preference in Israel, Germany, United States, United Kingdom, and other regions.

REE Automotive Ltd. - Class A Ordinary Shares

REE Automotive Ltd

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News

Mission Mobile Medical And REE Automotive Signed An Agreement Under Which REE Will Provide Vehicles To Mission Mobile Medical Which Will Be Used By The Latter To Make Healthcare More Accessible To People In Historically Underserved, Rural Areas In The United States

<h3>Gainers</h3>
<ul>
<li>BJ's Restaurants (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) stock increased by 24.2% to $43.99 during Tuesday's pre-market session. The market value of their outstanding shares is at $1.0 billion. </li>
<li>China Liberal Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) stock rose 15.2% to $0.12. The company's market cap stands at $33.6 million. </li>
<li>Massimo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAMO#NASDAQ">MAMO</a>) shares moved upwards by 13.07% to $3.2. The company's market cap stands at $132.4 million. </li>
<li>Jiuzi Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JZXN#NASDAQ">JZXN</a>) stock moved upwards by 10.15% to $3.58. The market value of their outstanding shares is at $32.4 million. </li>
<li>MYT Netherlands Parent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYTE#NYSE">MYTE</a>) stock rose 10.0% to $11.0. The company's market cap stands at $933.7 million. As per the news, the Q2 earnings report came out today. </li>
<li>Acushnet Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLF#NYSE">GOLF</a>) stock rose 9.66% to $70.0. The company's market cap stands at $4.2 billion. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>MGO Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) shares decreased by 28.5% to $0.5 during Tuesday's pre-market session. The market value of their outstanding shares is at $4.6 million. </li>
<li>MKDWell Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKDW#NASDAQ">MKDW</a>) shares declined by 14.96% to $0.37. The company's market cap stands at $6.9 million. </li>
<li>PetMed Express (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PETS#NASDAQ">PETS</a>) stock decreased by 14.62% to $4.5. The market value of their outstanding shares is at $92.9 million. As per the news, the Q3 earnings report came out yesterday. </li>
<li>XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares fell 6.79% to $15.52. The market value of their outstanding shares is at $14.7 billion. </li>
<li>Live Ventures (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIVE#NASDAQ">LIVE</a>) stock fell 6.38% to $8.66. The company's market cap stands at $27.0 million. The company's, Q1 earnings came out 3 days ago. </li>
<li>REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares declined by 5.7% to $7.62. The company's market cap stands at $148.4 million. 
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</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Consumer Discretionary Stocks Moving In Tuesday's Pre-Market Session

HC Wainwright &amp; Co. analyst Amit Dayal reiterates REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) with a Buy and maintains $15 price target.

Price Target

Reiteration

Analyst Ratings

HC Wainwright & Co. Reiterates Buy on REE Automotive, Maintains $15 Price Target

WIIM

REE Automotive shares are trading lower after the company reported worse-than-expected Q3 financial results.

REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) just disclosed its Q3 earnings on Tuesday, December 17, 2024 at 07:15 AM.
Here's a brief overview of the earnings report.
<h3>Earnings</h3>
REE Automotive missed estimated earnings by -30.0%, reporting an EPS of $-1.12 versus an estimate of $-0.86.
Revenue was down $199 thousand from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.54 which was followed by a 18.0% increase in the share price the next day.

To track all earnings releases for REE Automotive <a href="https://www.benzinga.com/quote/REE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Insights into REE Automotive Q3 Earnings

REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) reported quarterly losses of $(1.12) per share which missed the analyst consensus estimate of $(1.01) by 10.89 percent. The company reported quarterly sales of $11.000 thousand which missed the analyst consensus estimate of $50.000 thousand by 78.00 percent. This is a 94.76 percent decrease over sales of $210.000 thousand the same period last year.

Earnings Misses

REE Automotive Q3 2024 Adj. EPS $(1.12) Misses $(1.01) Estimate, Sales $11.000K Miss $50.000K Estimate

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) to report quarterly earnings at 52 cents per share on revenue of $273.77 million after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Worthington Enterprises shares fell 0.1% to $38.64 in after-hours trading.</li>
<li>Compass Minerals International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>) posted downbeat results for its fourth quarter on Monday. Compass Minerals shares dipped 7.3% to $11.69 in the after-hours trading session.</li>
<li>Analysts expect Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) to post a quarterly loss at 34 cents per share on revenue of $899 thousand after the closing bell. Applied Digital shares fell 0.2% to $9.99 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) reported worse-than-expected second-quarter financial results on Monday. The company reported second-quarter revenue of $1.53 million, missing analyst estimates of $4.13 million. The drone technology company reported a second-quarter loss of 18 cents per share, missing analyst estimates for a loss of eight cents per share, according to Benzinga Pro. Red Cat shares tumbled 15.8% to $8.80 in the after-hours trading session.</li>
<li>Analysts expect REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) to post a quarterly loss at $1.01 per share on revenue of $50 thousand. The company will release earnings before the opening bell. REE Automotive shares gained 7.2% to $11.77 in the after-hours trading session.</li>
</ul>
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Worthington Enterprises, Red Cat Holdings, And 3 More Stocks To Watch As US Futures Trade Lower On Tuesday

<h3>Companies Reporting Before The Bell</h3>
• REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) is expected to report quarterly loss at $0.86 per share on revenue of $50 thousand. 
• Cheetah Mobile (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMCM#NYSE">CMCM</a>) is projected to report earnings for its third quarter. 
• NeuroOne Medical Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMTC#NASDAQ">NMTC</a>) is likely to report earnings for its fourth quarter. 
<h3>Companies Reporting After The Bell</h3>
• Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $273.77 million. 
• cbdMD (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) is likely to report quarterly earnings at $0.00 per share on revenue of $4.81 million. 
• Applied DNA Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) is estimated to report quarterly loss at $0.35 per share on revenue of $899 thousand. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For December 17, 2024

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, with the Dow Jones index falling for the eighth session in a row. However, the Nasdaq surged to a record high during the session.
Shares of Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) all surged to new all-time highs on Monday.
On the economic data front, the NY Empire State Manufacturing Index declined to 0.20 in December compared to 31.2 in the previous month, and down from market estimates of 12.
The S&amp;P Global services PMI climbed to 58.5 in December versus 56.1 in November. The S&amp;P Global manufacturing PMI declined to 48.3 in December compared to 49.7 in the prior month.
Most sectors on the S&amp;P 500 closed on a negative note, with materials, energy and healthcare stocks recording the biggest losses on Monday. However, consumer discretionary and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by over 110 points to 43,717.48 on Monday. The S&amp;P 500 gained 0.38% to 6,074.08, while the Nasdaq Composite gained 1.24% at 20,173.89 during Monday's session.
Investors are awaiting earnings results from Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>), Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) and REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) today.
At a current reading of 56.7, the index moved to the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 49.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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<h3>Gainers</h3>
<ul>
<li>PLBY Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLBY#NASDAQ">PLBY</a>) stock rose 21.3% to $1.71 during Monday's pre-market session. The market value of their outstanding shares is at $153.1 million. </li>
<li>Nova Lifestyle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVFY#NASDAQ">NVFY</a>) stock increased by 15.47% to $0.47. The market value of their outstanding shares is at $3.4 million. </li>
<li>SharpLink Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBET#NASDAQ">SBET</a>) stock moved upwards by 11.37% to $0.83. The market value of their outstanding shares is at $2.9 million. </li>
<li>Vision Marine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) shares increased by 9.65% to $1.59. The market value of their outstanding shares is at $2.4 million. </li>
<li>REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares moved upwards by 9.14% to $11.82. The market value of their outstanding shares is at $127.9 million. </li>
<li>Noodles (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDLS#NASDAQ">NDLS</a>) stock rose 8.22% to $0.75. The market value of their outstanding shares is at $34.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>EpicQuest Education Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEIQ#NASDAQ">EEIQ</a>) stock declined by 12.0% to $0.9 during Monday's pre-market session. The company's market cap stands at $11.7 million. </li>
<li>Tile Shop Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTSH#NASDAQ">TTSH</a>) shares decreased by 11.47% to $6.1. The company's market cap stands at $272.4 million. </li>
<li>MEDIROM Healthcare Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRM#NASDAQ">MRM</a>) stock declined by 11.12% to $1.12. The market value of their outstanding shares is at $5.5 million. </li>
<li>U Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCAR#NASDAQ">UCAR</a>) stock fell 10.09% to $6.69. The company's market cap stands at $22.6 million. </li>
<li>China Liberal Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) shares declined by 9.76% to $0.18. The company's market cap stands at $50.8 million. </li>
<li>Connexa Sports Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) stock decreased by 7.88% to $0.99. The company's market cap stands at $14.4 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Consumer Discretionary Stocks Moving In Monday's Pre-Market Session

<a href="https://www.globenewswire.com/Tracker?data=QFCV0cJpvD00F60TLmMc-NMEAm_Q6G3abja1b-qYLjEZYb9ith-Gf_wJLnUduDJ_4qhjyWMf1IF9ikF0YufvNA==">REE Automotive Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) ("REE" or the "Company"), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced the appointment of Rajesh Goel, president at Motherson Group ("Motherson"), to its board of directors and announced the return of Hai Aviv as Chief Financial Officer (CFO) to lead REE's North American expansion. Both appointments take effect&nbsp;on November 15, 2024.
Motherson Group is strengthening its commitment to REE, with the appointment of Rajesh Goel to the Board of Directors. Rajesh's extensive automotive background, including his current leadership role at Motherson and previously with Honda Cars India, will bolster REE's production strategy amid rising demand for electric trucks. "Rajesh's experience is a strong asset as we expand our production capabilities," said REE Chairman, Carlton Rose.

Management

REE Announces The Appointment Of Rajesh Goel, President At Motherson Group, To Its Board Of Directors And Announced The Return Of Hai Aviv As Chief Financial Officer To Lead REE's North American Expansion, Both Appointments Take Effect On November 15, 2024.

<h3>Gainers</h3>
<ul>
<li>Connexa Sports Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) shares rose 36.7% to $5.62 during Wednesday's regular session. The company's market cap stands at $36.1 million. </li>
<li>REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares moved upwards by 20.69% to $8.13. The market value of their outstanding shares is at $88.0 million. </li>
<li>Container Store Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TCS#NYSE">TCS</a>) stock rose 18.45% to $12.67. The company's market cap stands at $43.5 million. </li>
<li>Mondee Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOND#NASDAQ">MOND</a>) shares moved upwards by 17.39% to $1.35. The company's market cap stands at $118.0 million. </li>
<li>MEDIROM Healthcare Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRM#NASDAQ">MRM</a>) shares increased by 16.99% to $4.2. The company's market cap stands at $20.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Jiade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) stock decreased by 25.2% to $0.83 during Wednesday's regular session. The market value of their outstanding shares is at $20.2 million. </li>
<li>Children's Place (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLCE#NASDAQ">PLCE</a>) stock declined by 21.99% to $10.95. The market value of their outstanding shares is at $139.3 million. </li>
<li>JX Luxventure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JXJT#NASDAQ">JXJT</a>) shares declined by 20.18% to $1.44. The company's market cap stands at $8.7 million. </li>
<li>Digital Brands Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBGI#NASDAQ">DBGI</a>) stock declined by 19.57% to $0.18. </li>
<li>Ambow Education Holding (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#AMEX">AMBO</a>) stock decreased by 13.07% to $1.73. The company's market cap stands at $4.9 million. </li>
<li>Algorhythm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIME#NASDAQ">RIME</a>) shares decreased by 12.38% to $0.4. The company's market cap stands at $3.8 million. 
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</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) reported quarterly losses of $(0.97) per share which beat the analyst consensus estimate of $(1.51) by 35.76 percent. This is a 1285.71 percent decrease over losses of $(0.07) per share from the same period last year.

Earnings Beats

REE Automotive Q2 Adj $(0.97) Beats $(1.51) Estimate, Company Ends Q2 With Liquidity Of $60.5M

REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares are trading higher on Monday after the company announced it selected Roush Industries to assemble REE&#8217;s P7 vehicles at Roush&#8217;s Detroit-area factory, which has an annual capacity of up <a href="https://www.benzinga.com//node/40981413">to 5,000 vehicles</a>.
The Details: Assembly of the P7 electric trucks will begin in the 2024 fourth quarter. The vehicles feature a flat vehicle base that offers up to 35% more space for cargo, passengers and batteries. In addition, the truck has the industry&#8217;s lowest step-in height.
&#8220;We chose to work with Roush because of their proven capabilities and expertise in the commercial EV market, their capacity to scale production, and their understanding of our unique business model, which is to build our vehicles to order, not for inventory,&#8221; said Josh Tech, COO of REE. 
&#8220;We want to get our trucks in the hands of our customers as soon as possible, while not sacrificing on quality, making sure our customers can count on us as they build their electric commercial fleets. By partnering with Roush, we can concentrate on our core technology and production of the REEcorners while optimizing production costs and reducing go to market times benefiting from their nearly 40-year track record of engineering and manufacturing spans from NASCAR, to lunar terrain vehicles, to the most innovative EVs.&#8221;&nbsp;
How To Buy REE Automotive Shares
By now you're likely curious about how to participate in the market for REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>), which is trading at $6.15 as of publishing time, $100 would buy you 16.26 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
See Also: <a href="https://www.benzinga.com/news/24/09/40971831/putin-ally-who-unveiled-tesla-cybertruck-with-machine-gun-last-month-now-says-elon-musk-remotely-dis">Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Last Month Now Says Elon Musk &#8216;Remotely Disabled&#8217; The Militarized EV</a>
REE Price Action: At the time of writing, REE Automotive stock is trading 4.86% lower at $6.04 per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Image via Pexels

What's Going On With REE Automotive Shares Monday?

REE Automotive shares are trading higher after the company announced that it selected Roush Industries to assemble P7 vehicles at Roush's Detroit-area factory.

<ul>
<li>Production of P7 electric truck line-up to begin Q4 2024 at Roush's facility in Detroit, Michigan, with annual capacity of up to 5,000 trucks. &nbsp;</li>
<li>Motherson to manage global supply chain and logistics for U.S. production as well as on-site manufacturing and quality assurance support via Motherson SAS in Detroit.</li>
<li>Faster production ramp up, improved unit costs, and accelerated road to free-cash flow generation are expected.</li>
<li>Customers have begun securing production slots.</li>
</ul>
TEL AVIV, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Marking a significant milestone on its path to electrifying fleet vehicles across North America, <a href="https://www.globenewswire.com/Tracker?data=MFG5Eh0agCKBnZUPhm5FDLVb7p3sQvo0l_DhfAt0YDzAreuFwewdyvgbX-Sn3PBFkSAeqV5TAPkt8qmCSRvqJA==">REE Automotive Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has selected <a href="https://www.globenewswire.com/Tracker?data=8mg4JulcrcTcAPtOsP30OJ65LzHqL3uDXZinpMs9a2C0NJ-ifQUyIfFWMigrJhlcIvHY7pzgyyezNryRWKlvUA==">Roush Industries</a>, a leading innovative vehicle contract manufacturer, to assemble REE's P7 vehicles at Roush's Detroit-area factory. REE will continue to manufacture its proprietary REEcorner&#xAE; technology in its UK Coventry Integration Center. With a focus on speed to market and impeccable build quality, Roush's assembly team unites decades of design, engineering, machining, fabrication, testing, manufacturing, and supply chain expertise to deliver a scalable process for REE. Roush will be supported onsite by a joint REE and Motherson team, who will be responsible for overall quality assurance, logistics, and testing.
Roush, as U.S. contract manufacture for the P7 lineup, will be responsible for the assembly of full vehicles according to REE's requirements. REE's software-defined electric trucks will be assembled at Roush's Detroit based site specifically chosen for REE's requirements and designed to have a yearly capacity of up to 5,000 trucks. Motherson, a leading global automotive part supplier with whom REE signed a strategic agreement, will manage global supply chain and logistics targeting cost reduction, improved unit economics and higher margines.
REE's P7 electric commercial trucks line-up is built on top of four REEcorners&#xAE; featuring REE's disruptive x-by-wire technology. REEcorners&#xAE; pack critical vehicle components into the area between the chassis and the wheel, enabling a fully flat electric chassis end-to-end with up to 35% more interior volume for passengers, cargo and batteries. Electric vehicles built on the P7 chassis have the industry's lowest step-in height, are autonomous ready, and can be powered by either batteries or fuel cells. The P7 is well established with a network of 78 service and sales locations through 24 authorized dealers across North America with potential access to over 200 fleets in the U.S. and Canada.

REE Automotive Kick-Off U.S. Production With Roush Industries As Contract Manufacturer; Production Of P7 Electric Truck Line-Up To Begin Q4 2024 At Roush's Facility In Detroit, Michigan, With Annual Capacity Of Up To 5,000 Trucks

REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares are trading higher after it announced<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40876809/ree-automotive-announces-global-manufacturing-agreement-with-leading-automotive-supplier-motherson" rel="noreferrer noopener"> a strategic deal with </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40876809/ree-automotive-announces-global-manufacturing-agreement-with-leading-automotive-supplier-motherson" rel="noreferrer noopener">Motherson Group</a>.
REE Automotive has secured $45.35 million from investors, including M&amp;G Investments and Motherson, through a direct offering of 11 million Class A shares at $4.122 each.
The proceeds are expected to support general working capital, and the offering is set to close by September 19, 2024, pending standard conditions.
REE&#8217;s largest shareholder M&amp;G Investments led the $45.35 million investment in REE Automotive with $20 million, followed by Motherson&#8217;s $15 million. Post-offering, M&amp;G will hold approximately 16% of REE&#8217;s issued and outstanding ordinary shares; Motherson will hold approximately 19% on a non-diluted basis and, similarly, Varana Capital 8%.
As per the deal, Motherson will handle sourcing and supply chain management for all production parts and support the assembly of REE&#8217;s REEcorner and REE P7 electric trucks.
This collaboration with Motherson will enhance REE&#8217;s production capabilities and industry relationships, supporting its expansion and meeting rising demand for its unique software-driven medium-duty electric trucks, expected to play a significant role in the transition to electric fleets worldwide.
Motherson, a major automotive supplier, will also appoint a director to REE&#8217;s board.
REE Co-founder and CEO, Daniel Barel, said, &#8220;Motherson&#8217;s global footprint and manufacturing prowess combines perfectly with REE&#8217;s technology and innovation mindset. This combination will benefit our customers and investors alike, by pushing forward the transition towards electrification and carbon neutrality.&#8221;
As of March 31, 2024, REE&#8217;s cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g39081137/ree-automotive-reports-first-quarter-2024-financial-results-deliveries-to-customers-have-begun-inc" rel="noreferrer noopener">equivalents stood at $77.5 million</a>.
Price Action: REE shares are up 36% at $4.032 at the last check Monday.
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Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a target="_blank" href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!

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REE Automotive Revs Up With Cash Infusion And Strategic Alliance With Motherson: Details

REE Automotive shares are trading higher after announcing an agreement with Motherson Group where they will manage sourcing and the supply chain of all production parts and support assembly of Ree. Also, Motherson Group will make a $45.35 million registered direct offering investment in the company.

Financing

REE Automotive Announces Agreement With Motherson Group, Pursuant To Which Motherson Will Manage Sourcing And Supply Chain Of All Production Parts And Support Assembly Of REEcorner And REE P7 Trucks; REE Priced $45.35M Registered Direct Offering

Press Releases

REE Automotive Provides Corporate and Business Updates and Reports Second Quarter 2024 Financial Results

REE Automotive to Present at Two Prestigious Events in Detroit and Los Angeles

REE Automotive Strengthens Executive Leadership Team and Board of Directors with Two Key Appointments

REE Automotive to Report Third Quarter 2024 Financial Results on December 17, 2024

REE Automotive Named CES 2025 Innovation Award Honoree for Software-Defined Vehicle Technology

REE Automotive Reports Q3 2024 Results: Reservations Surge by 230% as Production Begins and Liquidity Increases, Reaffirming BoM Breakeven Target for H2 2025

General

REE Automotive to Participate in 27th Annual Needham Growth Conference

REE Automotive to Participate in Sidoti Micro-Cap Virtual Conference

Mission Mobile Medical and REE Automotive Collaborate to Transport Healthcare to Millions of Rural Americans

REE Automotive Collaborates with Geotab to Provide Advanced Data Analytics to Fleets

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