REE Automotive to build new HQ in Austin, Texas
Israel-based company REE Automotive has named Austin, Texas, the new home to its US headquarters. Production for the North American market will also take place at this location.
Austin will be the location of REE’s first asset-light Integration Center for the assembly and testing of its REEcorner technology and ultra-modular EV platforms. The construction is expected to be completed sometime in the second half of 2022 and have an annual capacity of 40,000 modular EV platforms. REE estimates that around 150 jobs will be created locally.
“Establishing our U.S. headquarters in Austin, Texas best positions us for growth and rapid expansion,” said Daniel Barel, REE’s Co-Founder and CEO. “Austin is fast becoming a worldwide home for elite technology professionals. REE needs to continue growing and thriving, and Austin’s dynamism and entrepreneurial spirit definitely fit REE’s culture and values. Our U.S. presence will allow us to capitalize on the incredible opportunities in the U.S. market and put us closer to our North American-based customers and partners, including Magna International and JB Poindexter, as we work together to develop and deliver modular EVs.”
This announcement follows the news of a major partnership with the Texas-based body manufacturer EAVX, which is a subsidiary of JB Poindexter. The partnership is an important step for REE, as the Israeli company is not aiming to manufacture vehicles, instead aiming to be a technology company that supplies a flexible base that can be configured to meet a variety of needs. The platform is scalable due to the size and performance, which can be configured easily online. The bigger question that remains, is the interface that drivers will actually need to use, which is where the partnerships come in.
The new continental HQ in the USA is not the only facility that REE is running outside of their native Israel, as earlier this year, an engineering centre was opened in Warwickshire, UK. According to the plans announced by REE during the announcement of the partnership with EAVX, Japan will be the next market to follow, as Europe and the USA have now been addressed.
Funding for the global expansion was made possible through a merger with 10X capital, which allowed the Israeli startup to hit the stock market.