REE Automotive Recognized as a Top-10 Game-Changing Company for its EV Platform
BloombergNEF recently named REE Automotive, an electric platform company, one of 10 game-changing companies for its breakthrough electric vehicle (EV) platform.
“REE is literally reinventing the wheel with its revolutionary approach, putting intelligence and drive insides [the arch of] each of the four wheels of a chassis to create a new, flexible and modular electric platform, which gives customers complete design freedom to build their vehicles,” said Michael Wilshire, selection committee chair and head of strategy at BloombergNEF (BNEF).
REE’s patented REEcorner modules integrate all drivetrain, powertrain, suspension and steering components into the arch of the wheel. This pioneering by-wire control system carries a totally flat, autonomous-ready EV platform, designed to fulfill existing and future e-mobility applications. The company said its main benefits are increased space, total body design freedom and reduced total cost of ownership.
A panel of industry experts named REE one of 10 recipients of the 2020 BloombergNEF Pioneer award. The winners were selected based on their potential to scale the opportunity, the level of innovation of the technology or business model and the novelty it brings to the market, and momentum as demonstrated by strong commercial development.
The global EV market is projected to reach $803 billion in 2027, an increase from $162 billion in 2019, according to research firm Allied Market Research. REE has signed commercial orders to drive its technology to market and has established a global and exclusive strategic network of partners with leading Tier 1 automotive suppliers.