REE Automotive stated on Tuesday that it has reached an agreement with JB Poindexter & Co.’s newest business unit EVAX to collaborate on commercial electric car development.
Why Does It Matter? REE Automotive gains a collaboration with JB Poindexter, a company that works with corporate titans such as AT&T (NYSE: T), Verizon (NYSE: VZ), and FedEx (NYSE: FX) (NYSE: FDX).
This further demonstrates REE Automotive’s dedication to developing electric vehicles, as this is the business’s ninth major agreement, far outperforming competitors, according to the company. In the United States, Israel, the United Kingdom, Germany, and Japan, the corporation now has a global presence.
REE has also updated its website, which now features a one-of-a-kind configurator. Users can tailor an electric vehicle to their preferences, such as whether it is built for cargo or people, how quickly it can drive, the size, and so on, using this technique.
Next Steps: REE has voiced strong optimism about a future in which it does not strive to be the next Tesla (NASDAQ: TSLA), but rather the first REE Automotive, with a $700 billion potential market.
REE had previously agreed to go public through 10X Capital Venture Acquisition Corp, a special acquisition purpose business (NASDAQ: VCVC).
REE will be listed on the New York Stock Exchange under the symbol REE. (C) 2021 Benzinga.com. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
