REE Automotive set to list on NASDAQ
By Jim Gibbins - 1st May 2021
USA / Israel – REE Automotive Ltd of Tel Aviv, Israel, an electric ‘skateboard’ chassis builder - which integrates critical vehicle components (steering, braking, suspension, powertrain and control) into the arch of the wheel (referred to as its REEcorner technology) - and special purpose acquisition company, 10X Capital Venture Acquisition Corporation (10X SPAC) of New York, USA, are to merge following agreement in January for a business combination that would result in REE Automotive becoming a publicly listed company of the New York NASDAQ. The company will list under the ticker name of ‘REE.’
REE states its REEcorner technology enables fully-flat and modular EV platforms that can carry more passengers, cargo and batteries as compared with conventional electric or internal combustion (IC) vehicles. Compared with IC and electric vehicles, REE says it offers customers competitive pricing and substantially lower TCO with faster time-to-market.
