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Manufacturing Technology Insights | Thursday, July 23, 2020
REE Automotive wins the 2020 BloombergNEF Pioneer Award with game-changing EV platform technology ready to carry the future of e-Mobility.
FREMONT, CA: REE Automotive (REE), the electric platform leader reinventing e-Mobility, has won the 2020 BloombergNEF (BNEF) Pioneer award. REE is 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 entirely 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. REEs' new platform approach, together with its exclusive network of Tier 1 partners, provides access to hundreds of production lines. All of this means that REE plays a vital role in transporting the transition to a low carbon economy.
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Industry experts picked ten BNEF Pioneer winners from a pool of global applicants for the prestigious BNEF awards, which is now in its eleventh year. Candidates were scrutinized 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 healthy commercial development.
Michael Wilshire, Selection Committee Chair and Head of Strategy at BloombergNEF, says, "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 vehicles."
Daniel Barel, CEO and Co-Founder of REE states, "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, REEs patented REEcorner modules integrate all drivetrain, powertrain, suspension, and steering components into the arch of the wheel. This pioneering by-wire control system carries a flat, autonomous-ready EV platform, designed to fulfill existing and future e-mobility applications. The key benefits are increased space, total body design freedom, and significantly reduced total cost of ownership (TCO). For instance, each REEcorner can be replaced in less than an hour, considerably 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 transforming 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.
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