Summary
– REE Automotive Ltd. announces approval for the Massachusetts MOR-EV truck incentive for their class 4 software-driven commercial EV
– The incentive, combined with the federal credit, could result in up to $70,000 in cost savings per vehicle
– The REE P7-C chassis cab is available for orders at regional dealers in Massachusetts and across the U.S.
– The company aims to break new ground in e-mobility with their patented technology and modular platforms
– Both public and private entities in Massachusetts are eligible to take advantage of the incentive, with applications for other state incentives in progress.
Article
REE Automotive Ltd. has announced that its class 4 software-driven commercial EV, the REE P7-C chassis cab, has been approved for the Massachusetts MOR-EV truck incentive. This incentive, combined with the federal commercial clean vehicle tax credit, could result in cost savings of up to $70,000 per vehicle. Fleets in Massachusetts can now order the P7-C chassis cab through REE’s authorized dealers, with a 37% reduction in cost. The company has also submitted applications for other incentives in various states, such as the California HVIP program, and expects updates on other states soon. Eligible entities for the incentive include private and nonprofit organizations, educational institutions, and local, municipal, and state governments.
REE Automotive is known for its innovative technology that allows companies to build electric vehicles of different shapes and sizes on modular platforms. Their vehicles, powered by REE®, feature the revolutionary REEcorner®, which integrates critical vehicle components into a single compact module located between the chassis and the wheel. As the first company to achieve FMVSS certification for a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer, and brake control eliminates the need for mechanical connections. By using four identical REEcorners®, the company can create the flattest EV platforms in the industry, offering more space for passengers, cargo, and batteries. These platforms are future-proof, autonomous capable, and provide a low total cost of ownership.
In addition to Massachusetts, REE Automotive is actively pursuing other incentive programs in various states to promote the adoption of electric commercial vehicles. The company’s unique value proposition positions it to break new ground in e-mobility, offering fleets an opportunity to electrify at an accelerated pace. By reducing vehicle costs through incentive programs, REE aims to make electric vehicles more accessible and attractive to a wider range of customers. With a focus on design freedom, advanced technology, and efficiency, REE is at the forefront of the electric vehicle industry, providing solutions that address the evolving needs of the market.
As part of its commitment to advancing e-mobility, REE Automotive emphasizes the importance of building strategic relationships with Tier 1 suppliers and partners in the industry. The company’s plans for initial commercial production and scaling manufacturing capacity are supported by these partnerships, ensuring a seamless transition to mass production. By leveraging its UK Engineering Center of Excellence for product design, validation, testing, and homologation, REE can deliver high-quality electric vehicles that meet regulatory requirements and market demands. With a focus on innovation and sustainability, REE is dedicated to providing cutting-edge solutions for the transportation sector.
In light of the global economic environment, ongoing geopolitical uncertainties, and the impact of events like the COVID-19 pandemic, REE Automotive acknowledges potential risks and challenges in the market. However, the company remains committed to its long-term vision of revolutionizing the e-mobility space and offering customers innovative solutions for sustainable transportation. By staying ahead of industry trends, investing in research and development, and fostering strong partnerships, REE aims to drive continued growth and success in the electric vehicle market. With a focus on innovation, efficiency, and customer satisfaction, REE Automotive is poised to make a significant impact in the evolving landscape of e-mobility.
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