PR86542

TEL AVIV, Israel, Nov. 11, 2020 /PRNewswire=KYODO JBN/ --

REE Automotive (REE), the electric platform leader reinventing e-Mobility, and

Iochpe-Maxion, a multi-billion dollar global leader in the production of automotive

wheels and a leading producer of automotive structural components in the Americas,

announced today a partnership to co-develop and manufacture an exclusive wheel

design and chassis solution for REE's corner modules and electric vehicle platform.

Photo -  https://mma.prnewswire.com/media/1331764/Picture_of_REEcorner_and_platform.jpg 

Logo - https://mma.prnewswire.com/media/1171041/REE_Automotive_Logo.jpg 

The revolutionary REEcorner integrates all drivetrain, powertrain, suspension

and steering components into the arch of the wheel, enabling the REEboard, a

completely flat and modular electric chassis. The REE platform provides customers

full design freedom to create the broadest range of EV and autonomous vehicles.

By incorporating Maxion's vast wheel and chassis design and advanced materials

experience into the system integration process, REE's electric vehicle platform

will weigh less and have more free space for alternative propulsion sources.

"Partnering with Maxion was the clear choice for us given its advanced

technical capabilities and global presence," said Tali Miller Levin, Vice

President, Corporate Development, REE.   "We are delighted to add Maxion to our

exclusive production network of top Tier 1 partners, which fortifies the market

leadership of REE by leveraging Maxion's existing wheel and chassis

capabilities for our REEboard production demands."

"Collaborating with REE showcases Maxion's mission to connect our current business

with OEMs and advanced mobility players such as REE," said Dr. Saul Reichman,

Head of Maxion Advanced Technologies and Global Director, Innovation &

Corporate Venturing, Maxion Wheels. "Our work with REE to innovate a new type

of wheel and chassis creates the opportunity to further diversify both our

product portfolio and customer base. Since the inauguration last year of Maxion

Advanced Technologies, an innovation initiative searching for adjacent and

disruptive automotive-related new business opportunities, our team has been

actively seeking innovative endeavors where we can apply our wheel and chassis

expertise to new mobility EV applications."

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

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 medium 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 which is a completely flat and

modular electric platform. REE's approach is cost efficient and offers multiple

customer benefits, including vehicle design freedom, package efficiency,

increased energy efficiency, faster development time, ADAS compatibility,

reduced maintenance and global safety standard compliance.

REE is supported by an exclusive network of Tier 1 partners providing access to

hundreds of global production lines making REE the next generation EV platform,

ready to carry the future of e-Mobility. For more information visit www.ree.auto. 

About Iochpe-Maxion

Iochpe-Maxion is a world leader in the production of automotive wheels and a

leading producer of automotive structural components in the Americas. The

Company has 33 manufacturing plants located in 14 countries and approximately

15,000 employees, operating its business through two divisions: Maxion Wheels

and Maxion Structural Components. Iochpe-Maxion, keen to capitalize on new

growth opportunities while also remaining relevant to its customers, launched

Maxion Advanced Technologies (MAT), a stand-alone organization responsible for

participating in the global new-mobility innovation ecosystem in search of

adjacent and disruptive automotive-related new business opportunities. To

effectively participate in the dynamic future mobility arena, MAT targets new

products, processes and business models relating to advanced materials and digitalization.

SOURCE  REE Automotive

CONTACT: Media Contact, Keren Shemesh, CMO, REE Automotive, Mobile: +972 54

5814333, Email: kerens@ree.auto; Iochpe-Maxion Media Contact: Colleen Hanley,

Global Director, Marketing and Communications, Maxion Wheels, Mobile: +1 (248)

916-2477, Email: colleen.hanley@maxionwheels.com