Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, July 14 2020 - 23:00
REE Automotive Wins 2020 BloombergNEF Pioneer Award With Game-changing EV Platform Technology Ready to Carry the Future of e-Mobility
TEL AVIV, Israel, July 14, 2020 /PRNewswire-AsiaNet/--

REE Automotive (REE), the electric platform leader reinventing e-Mobility, has 
won the 2020 BloombergNEF (BNEF) Pioneer award. REE has been named as one of 
ten game-changing companies by Bloomberg - the global business and financial 
information news leader - for its breakthrough EV platform, which is completely 
flat, scalable and modular and offers customers full design freedom to create 
the broadest range of EV and autonomous vehicles for current and future use. 
REE's new platform approach, together with its exclusive network of Tier 1 
partners, provides access to hundreds of production lines. All of which means 
that REE is playing a defining role in leading the transition to a low carbon 

Industry experts selected ten BNEF Pioneer winners from a pool of global 
applicants for the prestigious BNEF awards, which is now in its eleventh year. 
Candidates were scrutinised against three demanding criteria: the potential to 
scale the opportunity; the level of innovation of the technology or business 
model and the novelty it brings to the market; and momentum as demonstrated by 
strong commercial development.

Michael Wilshire, Selection Committee Chair and Head of Strategy at 
BloombergNEF, said: "REE is literally reinventing the wheel with its 
revolutionary approach, putting intelligence and drive inside [the arch of] 
each of the four wheels of a chassis to create a new, flexible and modular 
electric platform, which gives customers complete design freedom to build their 

Daniel Barel, CEO and Co-Founder of REE, said: "We are delighted to be named as 
a 2020 BNEF Pioneer. Featuring revolutionary wheel corner modules and chassis 
design, the REE platform enables EVs that are space optimized, autonomous ready 
and faster to develop, while providing customers with the freedom to design the 
vehicle they need in a flexible, cost-effective way. We are honoured to be 
recognised by the BNEF experts for our innovative approach and production-ready 
e-Mobility technology."

Bringing a disruptive approach to automotive legacy design, REE's patented 
REEcorner modules integrate all drivetrain, powertrain, suspension and steering 
components into the arch of the wheel – a pioneering by-wire control system 
that carries a totally flat, autonomous-ready EV platform, designed to fulfil 
existing and future e-mobility applications. Main benefits are increased space, 
total body design freedom and greatly reduced total cost of ownership (TCO). 
For example, each REEcorner can be replaced in less than an hour, significantly 
minimizing vehicle downtime. 

With the global EV market projected to reach $803bn in 2027 from $162bn in 
2019*, REE is poised to play a leading role in the transformation of the 
automotive industry. The company has signed commercial orders to drive its 
technology to market and has established an extensive global and exclusive 
strategic network of partners with leading Tier 1 automotive suppliers.

About REE Automotive: Next Generation EV platform - Ready to carry the future 
of e-Mobility
REE Automotive is an electric platform leader reinventing e-mobility. 
Unrestricted by legacy thinking, REE has developed the next generation EV 
platform which is completely flat, scalable and modular, providing customers 
with full design freedom to create the broadest range of EV and autonomous 
vehicles for current and future applications, including last mile delivery, 
MaaS, light to heavy duty EV logistics and robo taxis. 

The REEcorner integrates all traditional drive components (steering, braking, 
suspension, e-motor) into the arch of the wheel and thus carrying the REEboard 
- a completely flat and modular electric platform. REE's approach is cost 
efficient and offers multiple customer benefits, including vehicle design 
freedom, package optimization, increased energy efficiency, faster development 
time, ADAS compatibility, reduced maintenance costs and compliance with global 
safety standards.

REE is supported by an exclusive network of Tier 1 automotive partners 
providing access to hundreds of global production lines, effectively making REE 
the next generation EV platform ready to carry the future of e-Mobility. 
For more information visit  

About BloombergNEF
BloombergNEF (BNEF) is a leading provider of primary research on clean energy, 
advanced transport, digital industry, innovative materials, and commodities. 
With a team of experts spread across six continents, BNEF leverages the world's 
most sophisticated data sets to create clear perspectives and in-depth 
forecasts that frame the financial, economic and policy implications of 
industry-transforming trends and technologies. Available online, on mobile and 
on the Terminal, BNEF is powered by Bloomberg's global network of 19,000 
employees in 176 locations, reporting 5,000 news stories a day. Visit or request more information 
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SOURCE: REE Automotive