REE Automotive, an Israel based e-mobility company, has secured $17 million in funding from the UK government for its REEcorner technology. The funding received by the company is part of a $57 million investment coordinated through the Advanced Propulsion Center.
The REEcorner technology comprises critical vehicle components like steering, braking, suspension, power strain, and control into a single compact module located between chassis and wheel enabling fully flat electric vehicle (EV) platforms. The scope of the funding includes engineering, design, validation, verification, testing, and product homologation. The funding will be utilised to facilitate commercial production of the REEcorner technology and ultra-modular electric vehicle platforms. These EV platforms offer enhanced payload capacity by providing extra room for carrying passengers, cargo, batteries and enhanced body design flexibility and autonomous capability.
The funding is in line with REE’s plans of mass production of the REEcorner and EV platform technology. It is also expected to accelerate the UK government’s mission to shift to zero-emission vehicles and decarbonize UK’s transport network. The funding has been awarded to three other projects in addition to REE’s project, to boost energy-saving technologies across a wide range of vehicles. Investing in these projects is expected to address range anxiety and cost which may be a barrier to people from switching to EVs. The is expected to generate commercial viability, which will strengthen the UK’s automotive supply chain, safeguard or create jobs and reduce greenhouse emissions.
