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Frost & Sullivan names REE Automotive as 2021 Global EV Platform Company of the Year

Frost & Sullivan names REE Automotive as 2021 Global EV Platform Company of the Year

REE Automotive LTD (NASDAQ: “REE”), a leader in e-mobility, today announced that Frost & Sullivan has recognized REE as the 2021 Global EV Platform Company of the Year. The award is based on Frost & Sullivan’s analysis of the global automotive market and its evaluation of REE’s excellence in best practices for innovation and customer impact.

Benny Daniel, vice president at Frost & Sullivan, stated: “REE’s corner module technology and EV platforms continue to excel by offering customers the ability to reshape their EV design and system integration, paving the way for the future of e-mobility and modularity in automobiles. As the automobile industry undergoes rapid transformation, Frost & Sullivan applauds REE's leadership aspiration in delivering the most up-to-date modular EV platforms.” Frost & Sullivan determined that “REE’s technology will provide significant operational and functional advantages over the traditional EV fleets industry in the future due to its excellent long-term customer benefits.”

“It is an honor to be recognized by Frost & Sullivan as Company of the Year in our industry as we strive to make the future of electric mobility more efficient, reliable, and scalable,” said Daniel Barel, Co-Founder and CEO at REE. “We believe our reecorner™ technology can be the cornerstone of next-generation evs and autonomous vehicles. Thank you to Frost & Sullivan for acknowledging the work that our team puts into innovating for the future.”

Frost & Sullivan’s research and analysis indicates that EV demand has grown by 280% over the last 3 years, reaching approximately 2 million units sold globally. This conclusion comes as increasingly more countries are committing to reduce carbon emissions by 2030 and reach carbon neutrality, or zero emissions, by 2050. Reecorner™ technology is designed to enable oems to launch multiple models of evs quickly as critical vehicle components (including steering, braking, suspension, powertrain, and control) are housed in a single compact module positioned between the chassis and the wheel, resulting in a fully flat, modular EV platform. Reecorner™ technology and ultra-modular EV platforms allow logistics and delivery companies, mobility-as-a- service providers, and new mobility players to design mission-specific evs “Powered by REE” for virtually any target and application.

See reecorner™ technology in action:

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