A new Engineering Centre of Excellence could eventually create around 200 highly skilled jobs following REE Automotive’s decision to invest $92m in the UK.
The Israeli e-Mobility company is to establish its Engineering Centre at MIRA Technology Park, where it expects to accelerate plans to meet anticipated global demand for its REEcorner and Electric Vehicle (EV) platform technology.
REE’s REEcorner architecture integrates components including braking, electric-motor, steering, and suspension into the wheel arch before being integrated into a flat, battery-packed chassis. According to REE, this capability gives customers full design freedom to create the broadest range of electric and autonomous vehicles (AVs). The company added that EVs and AVs built on REEcorner and EV platform technology will offer more room for passengers, cargo, and batteries and that its proprietary technology is agnostic to vehicle size and design, power-source and driving mode.
In a statement, Daniel Barel, REE’s Co-Founder and CEO said: “I am excited to announce another major milestone for REE towards bringing our technology and products to the market as we expand our global footprint. With the recent announcement that we plan to go public via a SPAC [special purpose acquisition company] through our merger with 10X Capital Venture Acquisition Corp. and funding from long-term strategic investors including Koch Strategic Platforms, Mahindra & Mahindra and Magna International, REE would have sufficient capital to accelerate mass production of REEcorner technology and modular EV platforms. The first REEcorners are expected to be delivered to customers in 2022, with mass production beginning in 2023. This new Engineering Centre is a state-of-the-art facility allowing us to accelerate our validation, verification and testing as well as product homologation.”
The new Engineering Centre will support REE’s capex-light manufacturing strategy of globally located integration centres. The company intends to assemble components at its integration centres and expects to establish a network of 15, with the first one set to open in the US in 2021. REE plans to manufacture through a global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.
REE COO Mike Charlton said: “A key driver in our decision to establish our presence in the UK is the UK government’s forward-thinking vision and zero-emissions policy that perfectly aligns with REE’s goal of heralding a more sustainable, greener future for our generation and those to come.”