2,300,000 Class A ordinary shares were sold during the underwritten public offering, which closed on 6 March, at a price of USD6.50 per share.

REE claims the P7-C is the very first vehicle to be certified to Federal Motor Vehicle Safety Standards and Environmental Protection Agency standards to feature steer-by-wire, brake-by-wire, and drive-by-wire technology.

Rose replaces former chairman Arik Steinberg, who is stepping down from REE’s Board of Directors.

The company now aims to acquire certificates from FMVSS, as well as the California Air Resources Board and the Environmental Protection Agency, before the end of the year, making its ‘P7’ vehicles roadworthy and eligible for incentives.

The vehicle presented at the show was a first demonstrator, but Schaeffler and VDL have plans to produce more, with the aim of commencing customer pilots in Germany in 2025.

Why do tech startups tend to concentrate in certain countries and regions? Or, to put it another way, why are some places more favourable to the growth of new companies than others? These are questions that bear greater relevance to the commercial vehicle industry today, as manufacturers search for partners to work with on the digital technologies which will make our trucks and buses smarter and more connected.

Following its partnership agreement with REE, Knapheide will now be upfitting ‘P7-C’ cab chassis with bodies on a made-to-order basis.

The patented software helps detect early battery defects and will aid GM in developing an early hazard detection system for batteries. The value behind this software is that it doesn’t require additional hardware or sensors to monitor minor changes that have the potential to impact battery health.

The weight of the new generation i6S Efficient has been reduced by 950 kgs and its emissions reduced by up to 13% compared with previous generations. The vehicle is available on any chassis on the market and in an integral version with two or three axles, from 10.78 to 15 metres, between 36 – 55 seats and DAF engines from 364 hp to 522 hp.

The first driver-supervised road tests are taking place in Israel with an ‘eCentro’ midibus supplied by Otokar.

Mobileye will supply its autonomous driving hardware along with its ‘Road Experience Management’ real-time mapping software which uses dynamic roadmaps to inform the autonomous vehicle’s decision making.

The ‘P7-C’ adds a low, cab-over body to the front of the P7 modular “skateboard”, powered by REE Automotive’s electro-mechanical steering & braking system.