REE Automotive Holding Inc
NASDAQ:REE
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REE Automotive Holding Inc
REE Automotive Holdings, Inc., formerly 10X Capital Venture Acquisition Corp., is an automotive technology company. The company is headquartered in New York City, New York. The company went IPO on 2020-11-27. The Company’s REEcorner technology combines traditional vehicle drive components such as steering, braking, suspension, powertrain and control into the arch of the wheel. The firm develops the electrical vehicle (EV) platform, which helps customers to create the range of EV and autonomous vehicles. Its segments include last mile delivery/ robo taxis, Mobility-as-a-Service (MaaS), E-Shuttle and Mid mile delivery. The firm provides basis for urban delivery vehicles or two passengers autonomous Robotaxi applications. Its platform creates the blank canvas to build the MaaS vehicle for both autonomous and human-drive applications. The Company’s EV platform technology accommodates medium-duty commercial vehicles, which includes shuttles and medium zero emission delivery trucks.
REE Automotive Holdings, Inc., formerly 10X Capital Venture Acquisition Corp., is an automotive technology company. The company is headquartered in New York City, New York. The company went IPO on 2020-11-27. The Company’s REEcorner technology combines traditional vehicle drive components such as steering, braking, suspension, powertrain and control into the arch of the wheel. The firm develops the electrical vehicle (EV) platform, which helps customers to create the range of EV and autonomous vehicles. Its segments include last mile delivery/ robo taxis, Mobility-as-a-Service (MaaS), E-Shuttle and Mid mile delivery. The firm provides basis for urban delivery vehicles or two passengers autonomous Robotaxi applications. Its platform creates the blank canvas to build the MaaS vehicle for both autonomous and human-drive applications. The Company’s EV platform technology accommodates medium-duty commercial vehicles, which includes shuttles and medium zero emission delivery trucks.
Production Pause: REE is temporarily pausing production due to U.S. tariffs and trade policy uncertainties impacting its supply chain and business plan.
Strategic Shift: The company is accelerating its focus on software-defined vehicle (SDV) technology and software revenue, moving toward licensing and a subscription-based model.
Cost Reduction: Management plans significant operating cost and headcount reductions, aiming to lower monthly expenses from $5–6 million to $3–4 million by year-end.
Financial Position: Liquidity improved to $72 million at 2024 year end (including $18 million in credit), with $61 million in cash (excluding credit facility) at Q1 2025 close.
Profitability: Full-year 2024 net loss narrowed slightly to $111.8 million, down from $114.2 million in 2023, due to lower R&D and operating expenses.
Reservations: Customer interest in REE's SDV technology remains strong, with nearly $1 billion in reservations; no material cancellations reported.
Going Concern: Management cited substantial doubt about REE's ability to continue as a going concern over the next 12 months without additional financing.
