News Provided by Electrek
July 23, 2021
REE AUTOMOTIVE WILL OPEN ITS U.S. HEADQUARTERS AND FIRST INTEGRATION CENTER IN AUSTIN, TEXAS, AS IT PREPARES FOR PRODUCTION IN 2023
Zero-emission technology company REE Automotive has named Austin, Texas, the new home to its US headquarters. The Israel-based e-mobility company now looks to capitalize on a growing market in North America by opening an HQ in The Lone Star State, alongside an Integration Center for the assembly and testing of its proprietary technologies.
REE Automotive is an e-mobility solutions company headquartered in Tel Aviv, Israel, with additional subsidiaries in the US, UK, and Germany.
The company specializes in developing and manufacturing modular EV platforms for B2B transactions in addition to its proprietary REEcorners. This year alone, REE has announced collaborations with Magna International and Toyota’s Hino Motors.
Last February, REE announced a pending SPAC merger with 10X Capital Venture Acquisition Corp. ($VCVC), garnering $500 million in gross proceeds to accelerate mass production in 2023.
Yesterday, the business combination was approved by stockholders and officially closed. This morning, REE debuted on the Nasdaq under the ticker $REE.
REE automotive is now hitting the ground running following its approved merger by announcing a new headquarters on US soil.
In a press release this morning, REE Automotive shared plans for a US headquarters in the flourishing city of Austin, Texas, promising over 150 jobs over the next few years.
Additionally, Austin will become home to REE’s first asset-light Integration Center, where it will assemble and test its REEcorner technology and modular EV platforms.
