- REE’s software defined vehicles (“SDV”) deliver more real-time data than traditional commercial solutions
- Geotab to gain access to REEai Cloud for advanced data analytics aimed to reduce total cost of ownership (“TCO”) for expanding North American fleet
- Geotab fleet management solution enables fleets to monitor REE’s SDVs and other vehicles seamlessly, while significantly enhancing the cache of data quality and volume
TEL AVIV, Israel, Feb. 20, 2025 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced a collaboration with Geotab, a global leader in telematics and fleet management solutions. Through this collaboration, North American fleets purchasing REE’s SDV trucks will have access to Geotab’s data-driven intelligence that gives fleet operators actionable insights to help optimize fleet performance. The integration of REEai Cloud to the Geotab network enables fleets to monitor REE’s SDVs and other vehicles seamlessly, while significantly enhancing the cache of data quality and volume. This collaboration provides added visibility, strengthening the Geotab offering and streamlines the process for fleets to incorporate REE’s SDVs into their existing operations.
Geotab is the world's #1 commercial telematics provider, long recognized for its expertise in capturing essential, near real-time data through its compact, plug-and-play GO platform, which provides fleet operators with GPS data and telematics data driven insights. Through this compact device, Geotab processes essential fleet data such as speed, range, and other metrics, sending it directly to the cloud to support fleet optimization. With REE’s integration of data, fleets benefit from improved, near real-time actionable insights on both vehicle performance and condition, enabling seamless software updates and facilitating advanced customization options.
“We are always listening to our customers, and this collaboration exemplifies how we deliver beyond their expectations,” said Tali Miller, Chief Business Officer of REE. “By integrating Geotab’s industry-leading telematics with data generated from REEai Cloud, we’re equipping our fleet operators with the information they need in real time to enable smarter, data-driven decisions that maximize uptime and reduce costs. We’re providing a full-package solution that helps fleets easily transition for the future.”
REE and Geotab’s collaboration is aimed to provide a solution that meets the needs of modern fleet operators and benefits all stakeholders. REE’s sharing of real-time data with Geotab’s platform aims to allow fleet operators to view, analyze and act upon these insights both via the GO device and server-to-server connectivity. The integration aligns with fleet operators' existing systems, enabling customers to gain in-depth analysis of vehicle efficiency without additional complexity.
“At Geotab, our priority is helping customers unlock the full potential of their data to make informed, strategic decisions to run their business. By providing Geotab telematics to REE’s vehicle platform, we’re providing our mutual fleet customers with a seamless way to access and act on critical information. It’s about making data work smarter—helping fleet operators enhance efficiency, reduce costs, and stay ahead in an evolving industry,” said Rob Minton, Associate Vice President of Connected Car at Geotab.
As fleet demands evolve, REE and Geotab’s combined expertise will continue to expand the possibilities of data-driven management. Customers can expect an increasingly powerful set of tools to manage their fleets, from simple data monitoring to advanced diagnostics and proactive maintenance solutions.
To learn more about REE’s patented technology enabling the company to break new ground in e-mobility, visit www.ree.auto.
About REE Automotive
REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE® are equipped with the revolutionary REEcorner®, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a full by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners® enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.
Media Contact
Malory Van Guilder
Skyya PR for REE Automotive
+1 651-335-0585
ree@skyya.com
Investor Contact
Dana Rubinstein
Chief Strategy Officer for REE Automotive
investors@ree.auto
Caution About Forward-Looking Statements
This communication includes certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward-looking statements when it discusses the benefits of REE’s collaboration with Geotab, the potential benefits of Geotab’s telematics with data generated from REE products, and the benefits from the integration of REE products within the Geotab network. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE’s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE’s expectation for growth, and its future results, operations and financial performance and condition.
These forward-looking statements are based on REE’s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE’s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect REE’s future performance and could cause actual results to differ include, but are not limited to: REE’s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE’s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE’s advanced prototypes into marketable products; REE’s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE’s limited operating history; risks associated with building out of REE’s supply chain; risks associated with plans for REE’s initial commercial production; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq’s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE’s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE’s ability to enforce, protect and maintain intellectual property rights; REE’s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in REE’s annual report filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2024 and in subsequent filings with the SEC.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/204c073b-9356-4813-bdf5-0148c5ec52b7
