Israeli company Ree Automotive, developer of an advanced electric platform for the e-vehicle and mobility industry, announced a partnership with Mumbai, India-based vehicle manufacturer giant, Mahindra & Mahindra, which is a subsidiary of the multi-billion dollar Mahindra Group. The joint venture will set to pursue the manufacturing and development of e-vehicles for the global market.
According to the memorandum of understanding (MOU), the partnership will leverage REE's corner module and modular platform technology and Mahindra's vehicle design, engineering, sourcing capability, and manufacturing assets to supply REE’s global customer demand with up to 250,000 units. Furthermore, the MOU states that manufacturing efforts will be focused on Mahindra's domestic and international markets. Production would be scaled further to support additional volume in the global as well as Indian market.
"We are excited to partner with Mahindra to explore synergies that will allow us to address our customers' needs based on Mahindra's footprint and capabilities. Mahindra's unique cost structure, design and engineering capabilities and volume flexibility will be key to our ability to address the majority of the commercial EV market with both large volume vehicles as well as more targeted mission-specific vehicles," said Ree CEO Daniel Barel, who co-founded the company in 2011 with Ahishay Sardese. "Having a partner like Mahindra joining our growing OEM partners network will allow us to drive our EV technology faster and at scale".
Ree’s core innovations split into two: the REEcorner which integrates components into the arc of the wheel and carries the REEboard, a completely flat and modular electric platform. Additionally, REE’s technological capabilities can be adapted to the autonomous future, as well as serving as the electric platform for a variety of different vehicles, from semi-trailers to private cars.
The Israeli EV company’s tech offers corner module and platform technology for integrating powertrain, suspension and steering components in the arch of a vehicle wheel. When partnered with Mahandra’s global manufacturing scale capabilities, it becomes obvious that the two have a shared vision of providing advanced capabilities to the lucrative e-vehicle market, which has been experiencing continuous growth over the past decade.
"Our collaboration with REE has the potential to bring a disruptive approach to a new age of vehicles capitalizing on our respective strengths," said Rajesh Jejurikar, Executive Director (Auto and Farm Sectors), Mahindra & Mahindra. "The competitive advantages of REE's corner modular architecture with our experience in conventional vehicle system design, engineering, sourcing ecosystem and significant production capacity, provides a perfect match to deliver exciting zero emission vehicles, including autonomous vehicles, that can meet customer needs as never before."