REE Automotive signs strategic collaboration agreement with Magna for modular EVs

REE Automotive has announced a strategic collaboration agreement with Magna to bring to market modular EVs (MEVs) for tech companies and new electric mobility players under the “Powered by REE” brand.

The strategic collaboration will explore the combination of REE’s REEcorner technology with Magna’s vehicle systems to develop MEVs that enable commercial customers to customize vehicles based on their specifications and branding, while accelerating time to market.

REE and Magna will also explore potential collaboration in global mobility through the creation of a Mobility-as-a-Service (MaaS) venture in the light commercial vehicle sector that leverages REE’s proprietary X-by-Wire REEcorner and EV platform technology, as well as Magna’s industrial footprint and capabilities.

The cornerstone of the collaboration is REE’s proprietary REEcorner technology, which integrates critical vehicle components into an area between the chassis and the wheel—the “corners”—creating a compact single module in which each corner is controlled by REE’s X-by-Wire control technology. This results in a flat “skateboard” EV platform offering more space and interior room for passengers, cargo and batteries.

Customers using REEcorner can tailor EVs based on a selection of:

  • EV platform size
  • Vehicle length, width and height
  • Payload capacities
  • Drive and steering based on REE’s X-by-Wire technology (all-wheel, front and rear)
  • Battery capacity
  • Power source (battery or fuel cell)

REE’s technologies are designed to support the creation of MEVs with maximum payload capacity for transporting passengers and cargo as well as achieving the lowest Total Cost of Ownership (TCO).

Source: REE Automotive