REE Automotive Plans $770M MOU for Autonomous Vehicles

REE Automotive has entered a non-binding memorandum of understanding with a leading technology company to develop thousands of autonomous vehicles by 2030, leveraging its P7 skateboard chassis. The strategic collaboration, which aims to finalize a definitive agreement by the end of 2025, is projected to generate up to $770 million in revenue. REE's platform will enable the integration of advanced software-defined vehicle technology, enhancing safety and performance in both passenger and commercial vehicles. Production of the autonomous vehicles is expected to commence in 2027, with software and services revenue anticipated to start in the latter half of 2025. This partnership positions REE as a potential leader in the evolving autonomous transportation market. The collaboration allows REE to mitigate manufacturing costs while focusing on software and technology licensing.