From GlobeNewswire: 2024-12-17 07:15:00

Demand for REE vehicles is on the rise, with reservations growing 230% to $137 million, including orders extending beyond 2025. Integration of REE’s technology into leading OEMs is progressing, targeting first deliveries of the P7 electric truck in H1 2025. Financials show improved liquidity and secured funding of up to $65 million.

An increase in reservations for REE vehicles has led to significant growth, with production of the P7 electric truck on track for first deliveries in H1 2025. Financially, liquidity has improved by 47% to $88.8 million, with secured funding of $65 million. The company aims to reach bill-of-materials breakeven in H2 2025.

REE has seen a surge in demand for its vehicles, with strong interest in its technology and products. The company is moving forward with production plans and supply chain optimization efforts to meet growing demand. Financially, REE has secured funding of up to $65 million, demonstrating confidence in its business model.

The company is making progress in production and delivery of its vehicles, with the first P7 electric trucks set for delivery in H1 2025. Liquidity has improved by 47% to $88.8 million, with secured funding of $65 million to support production ramp-up. REE aims to reach bill-of-materials breakeven in H2 2025.



Read more at GlobeNewswire:: REE Automotive Reports Q3 2024 Results: Reservations Surge