Ree Automotive Stock Price, News & Analysis

REE Automotive reported Q3 2024 results showing significant growth in reservations, which increased 230% to $137 million. The company began production of its P7 medium-duty electric truck, targeting first deliveries in H1 2025. Liquidity improved by 47% to $88.8 million in cash and equivalents compared to Q2 2024. The company secured funding of up to $65 million, including $33 million in credit facilities.

Q3 GAAP net loss was $38.5 million compared to $10.8 million in Q2 2024. Free cash flow burn narrowed by 15% year over year. The company's service network expanded to 80 locations across North America, and their demo program received positive feedback after 300+ demonstrations.

REE Automotive has been named a CES 2025 Innovation Awards honoree for its P7-S Software-Defined EV Chassis in the Vehicle Tech & Advanced Mobility category. The P7-S is a Class 4-5 electric vehicle platform featuring full by-wire technology and autonomous-ready capabilities. Built with four identical REEcorners® that integrate steering, braking, suspension, powertrain, and control into single compact modules, the platform offers all-wheel steering and drive functionality. The P7-S is currently being evaluated by U-Haul as their first EV solution.

REE Automotive (Nasdaq: REE), an automotive technology company specializing in full by-wire electric trucks and platforms, has announced it will release its third quarter 2024 financial results before market opening on Tuesday, December 17, 2024. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the financial results for the quarter ended September 30, 2024, recent events, and conduct a Q&A session.

REE Automotive announced two key appointments effective November 15, 2024. Rajesh Goel, president at Motherson Group, joins the board of directors to support REE's production strategy amid rising electric truck demand. Additionally, Hai Aviv returns as Chief Financial Officer to lead the company's North American expansion. Aviv, who previously served as CFO from 2018-2022, brings over 18 years of experience in public company financial leadership. The appointments strengthen REE's executive leadership as the company focuses on scaling its electric vehicle technology and meeting fleet demands.

REE Automotive, a provider of full by-wire electric trucks and platforms, announced its participation in two prestigious events. CEO Daniel Barel will speak at Reuters Automotive USA in Detroit from October 21-23, participating in panels on industry disruptors and vehicle architecture. Chief Operations Officer Josh Tech will present at the LD Micro Main Event XVII in Los Angeles from October 28-30.

At Reuters Automotive USA, Barel will join panels alongside representatives from companies like Lucid Motors, Nikola Motor, and General Motors. The event is expected to host over 700 attendees, including journalists, analysts, investors, and industry professionals. At the LD Micro Main Event, Tech will discuss REE's technology and upcoming market opportunities. Both events offer opportunities for one-on-one meetings with management and key stakeholders.

REE Automotive reported Q2 2024 financial results and provided business updates. Key highlights include:

- Secured $45.35 million funding through a registered direct offering

- Signed strategic agreement with Motherson to improve supply chain and cost structure

- Kicked off U.S. production in Michigan with Roush as contract manufacturer

- Narrowed Q2 net loss by 57% QoQ to $10.8 million

- Increased order book by 15% QoQ to $60 million

- Expanded dealership network to 78 locations in the U.S.

The company updated its production plan to start deliveries in 2025 to address strong customer demand and capitalize on efficiencies from the Motherson partnership. REE ended Q2 with $60.5 million in liquidity.

REE Automotive (Nasdaq: REE) has selected Roush Industries to assemble its P7 electric trucks at Roush's Detroit-area factory, with production set to begin in Q4 2024. The facility will have an annual capacity of up to 5,000 trucks. Motherson will manage the global supply chain and provide on-site manufacturing and quality assurance support.

REE will continue manufacturing its proprietary REEcorner® technology in the UK. The P7 lineup, built on four REEcorners®, features x-by-wire technology and offers up to 35% more interior volume for passengers, cargo, and batteries. The vehicles have the industry's lowest step-in height and are autonomous-ready.

The partnership aims to accelerate production ramp-up, improve unit costs, and expedite the path to free cash flow generation. Customers have already begun securing production slots for the P7 electric trucks.

REE Automotive (Nasdaq: REE), an automotive technology company specializing in full by-wire electric trucks and platforms, has announced its plans to release second quarter 2024 financial results on September 26, 2024, before the market opens. The company will host a webcast and conference call at 8:30 a.m. ET on the same day to discuss the financial results for the three months ended June 30, 2024, recent events, and conduct a Q&A session. Interested parties can register for the conference call and webcast through the provided links. This announcement allows investors and analysts to prepare for the upcoming financial disclosure and engage with REE's management team regarding the company's performance and future outlook.

REE Automotive (NASDAQ: REE) has announced a global manufacturing agreement with Motherson Group, a leading automotive supplier. Motherson will manage sourcing, supply chain, and assembly of REEcorner® and REE P7 electric trucks. This collaboration aims to accelerate production to meet growing demand for electric commercial vehicles.

Simultaneously, REE has secured a $45.35 million registered direct offering, led by M&G Investment ($20 million), Motherson ($15 million), and Varana Capital ($5.25 million). The funds will be used for general working capital. Following the offering, M&G will hold approximately 16% of REE's shares, Motherson 19%, and Varana Capital 8%.

This strategic partnership is expected to enhance REE's ability to service customers at scale, potentially leading to significant order growth and improved unit costs.