- New REE Engineering Center to accelerate engineering design, validation, verification and testing, as well as product homologation
- Center to support REE’s capex-light global manufacturing strategy of multiple integration centers
- REE plans a $92 million dollar investment during the next three years in the new Engineering Center and the region
(Tel Aviv –February 16, 2021) – REE Automotive (REE), a leader in e-Mobility, which recently announced its merger with 10X Capital Venture Acquisition Corp. (NASDAQ: VCVC), today announces the establishment of a new state-of-the-art Engineering Center of Excellence. The new Engineering Center will expedite REE’s strategic plans to meet anticipated global demand for its breakthrough REEcorner and Electric Vehicle (EV) platform technology.
The Engineering Center will spearhead REEcorner and EV platform engineering design, validation, verification and testing, as well as product homologation. REE will also have access to world-class test facilities and a proving ground for physical testing and validation of the REEcorner and EV platform at the MIRA Technology Park in the UK.
REE’s unique CapEx-light manufacturing model will utilize globally located integration centers, creating scalable and agile unit economics. REE intends to assemble components at its integration centers, thus reducing Capex requirements, and expects to establish a network of 15 integration centers with the first one set to open in the US in 2021. REE plans to manufacture via a secured and exclusive global network of Tier 1 partners in over 30 countries, with point-of-sale assembly.
REE Automotive Opens New Engineering Center of Excellence - REE
Introduced: Sponsor: Rep. Brian Fitzpatrick [R-PA1]
This bill was referred to the House Committee on Education and Labor which will consider it before sending it to the House floor for consideration.
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(Pre-warning: this post is LONG. I like telling stories)
The story of Orb Automotive begins in 1947. Swiss businessman and car enthusiast Albert Bisch and aspiring Italian car designer Franco Martelli met over coffee in Unterägeri to discuss the creation of a new car manufacturer. Switzerland lacked major auto manufacturers and its economy was in better shape than much of Western Europe at the time owing to its neutrality in WWII. Bisch and Martelli were both enthusaistic about the idea, but disagreements came up over the details. Martelli always dreamed of designing eye-catching, exotic performance cars; the type that would challenge the likes of Ferrari and Alfa Romeo. Ever the practical businessman, Bisch wanted a more utilitarian approach and was interested in carmaking with more mass-market appeal. Despite their disagreements, the two eventually arrived at a compromising carmaking philosophy: Using light weight as a means to balance practical concerns with performance. It can be agreed that Martelli won out the disagreement in the end though, with Orb becoming decidedly focused on sports cars after a few models. After acquiring a small space outside Zurich, Switzerland, the pair got to work.
Bisch and Martelli penned their ideas together, and in 1950 their first car was released. The Jetson Mk.1 found a niche in the marginal but growing car-interested community of Western Europe. However, it didn't sell well enough to get Orb's name out there. The company had no recognizability yet, and Bisch and Martelli knew something had to be done fast to keep the company afloat in the long term. So they turned to the States.
The Jetson Mk.3 was built with sale to the US in mind. Marketed as a desirable road-trip car for 2, Orb's design found a market in the US and helped build the company a more sustainable financial base. Customers frequently were astonished by the sheer lightness of Orb's vehicles. Unlike many contemporaries, the Jetson used a space frame truss chassis as opposed to a more tradional ladder design. This helped the cars save weight and get more out of their engines. All Jetson trims weighed u
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