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REE reports USD107m loss in 2022, sets first deliveries for end of 2023

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By Bradley Osborne - 6th April 2023

Israel – REE Automotive Ltd, an electric vehicle manufacturer based in Herzliya, Israel, released its end-of-year report for 2022, announcing a net loss of USD107m, which is considerably lower than the figure reported in 2021 (minus USD505m).

The company said it ended the year with liquidity of USD154m, which it believes will be enough to kickstart production of its ‘P7’ modular electric vehicle platform. It expects to deliver its first pilot vehicles to customers by the end of 2023, with volume orders to follow in 2024.

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