LAS VEGAS, Jan. 6, 2022 /PRNewswire/ — REE Automotive (“REE”) (NASDAQ: REE), right now introduced the appointment of automotive business finance government David Goldberg as the corporate’s Chief Monetary Officer (CFO) efficient Feb 2022. Mr. Goldberg joins REE from Magna Worldwide, one of many world’s largest automotive suppliers, the place he’s presently Senior Vice President of Company Improvement, following a job as Vice President of Finance and Company Improvement on the firm.
Mr. Goldberg brings to REE 20 years of expertise in company finance, mergers & acquisitions, and administration consulting with progressively senior roles at Morgan Stanley, Bain & Firm, Greenhill & Co. and Magna Worldwide. In his new position as REE’s CFO, Mr. Goldberg will lead all features of REE’s monetary features, strategic business partnerships and investor relations. Primarily based in North America, Mr. Goldberg succeeds Mr. Hai Aviv, who has been REE’s CFO since 2018 and who led the corporate’s progress from stealth mode by way of to its profitable itemizing on Nasdaq.
Mr. Goldberg joins REE at a momentous time within the firm’s life because it has signed new strategic partnerships with international leaders akin to Hitachi, Magna, JB Poindexter and Toyota’s Hino Motors and because the firm ramps up its manufacturing plans for REEcorners™ and EV platforms, with REE on schedule to launch prototypes by finish of 2022.
Daniel Barel, REE Co-Founder and CEO: “David is an impressive addition to the REE staff, and we’re excited to have him be part of us. His confirmed monetary observe report and his experience within the automotive business can be an incredible asset to REE as we embark on the following stage in our upward trajectory, remaining laser-focused on executing our marketing strategy. Since we began REE virtually a decade in the past, having the very best staff to execute our technique has at all times been paramount to our success and a part of our steadfast dedication to ship worth to the market, our clients, companions and buyers. And as such, I need to thank Hai for his long-term shut partnership and contributions to our success. I’m grateful for his years of management at REE, together with taking us by way of our public itemizing.”
“REE has developed groundbreaking know-how set to revolutionize the EV market area which is seeing a large shift in direction of car electrification,” mentioned Mr. Goldberg. “REE is uniquely positioned to capitalize on the numerous EV market alternative and function the underpinning for zero-emission electrical and autonomous automobiles. I’m excited to affix REE at such a pivotal stage and assist steer the corporate by way of this subsequent part of progress.”
About REE Automotive
REE (Nasdaq: REE) is an automotive know-how chief whose mission is to empower firms to construct any dimension or form of electrical or autonomous car – from Class 1 by way of Class 6 – for any software and any goal market. REE goals to function the underpinning on high of which EVs and AVs can be constructed and envisions a future the place EVs and AVs can be ‘Powered by REE’.
REE’s revolutionary know-how – the REEcorner™ – packs essential car elements (steering, braking, suspension, powertrain and management) right into a single compact module positioned between the chassis and the wheel, enabling REE to construct the business’s flattest EV platforms with extra room for passengers, cargo and batteries. REE makes use of x-by-wire know-how to manage every of the corners of the automobiles with full drive-by-wire, brake-by-wire and steer-by-wire.
REE’s EV platforms afford full freedom of design, enabling auto-manufacturers, OEMs, supply & logistic fleets, Mobility-as-a-Service suppliers and new mobility gamers to design mission-specific EVs and AVs based mostly on their precise enterprise necessities and considerably scale back their time-to-market, decrease TCO and meet zero-carbon rules.
Headquartered in Herzliya, Israel, REE has an Engineering Middle within the UK, in addition to subsidiaries worldwide together with Japan and Germany, and plans to open its U.S. headquarters and first Integration Middle in Austin, Texas. REE’s distinctive CapEx-light manufacturing mannequin leverages Tier-1 companions’ current manufacturing traces; the corporate’s intensive associate ecosystem encompasses main names together with Hino Motors (truck arm of Toyota), Magna Worldwide, JB Poindexter, Navya and American Axle & Manufacturing to supply a full turnkey answer.
REE’s patented know-how, along with its distinctive worth proposition, place it to interrupt new floor in e-Mobility. For extra data go to https://www.ree.auto.
Warning About Ahead-Wanting Statements
This communication consists of forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995. All statements, apart from statements of historic info, could also be forward-looking statements. Phrases akin to “could,” “will,” “ought to,” “possible,” “anticipates,” “expects,” “intends,” “plan,” “initiatives,” “believes,” “views,” “future”, “enable”, “goals”, “strives” “endeavors” and related expressions are used to determine these forward-looking statements. These statements embrace, amongst different issues, the Firm’s statements in regards to the Firm’s strategic and enterprise plans, know-how, relationships, the impression of traits on and curiosity in its enterprise, mental property or product and its future outcomes. These forward-looking statements are based mostly on REE’s expectations and beliefs regarding future occasions and contain dangers and uncertainties that will trigger precise outcomes to vary materially from present expectations. These components are tough to foretell precisely and could also be past REE’s management. Ahead-looking statements on this communication or elsewhere communicate solely as of the date made and REE undertakes no obligation to replace its forward-looking statements, whether or not because of new data, future developments or in any other case, ought to circumstances change, besides as in any other case required by securities and different relevant legal guidelines. In gentle of those dangers and uncertainties, buyers ought to needless to say outcomes, occasions or developments mentioned in any forward-looking assertion made on this communication could not happen. Uncertainties and threat components that would have an effect on REE’s future efficiency and trigger outcomes to vary from the forward-looking statements on this launch embrace, however usually are not restricted to: REE’s capacity to commercialize its strategic plan and applied sciences, together with its new P7 platform; REE’s capacity to keep up and advance relationships with present Tier 1 suppliers and strategic companions; growth of REE’s superior prototypes into marketable merchandise; REE’s capacity to develop and scale manufacturing capability by way of relationships with Tier 1 suppliers; REE’s estimates of unit gross sales, bills and profitability and underlying assumptions; REE’s reliance on its UK Engineering Middle of Excellence for the design, validation, verification, testing and homologation of its merchandise; REE’s restricted working historical past; dangers related to REE’s plans for business manufacturing; REE’s dependence on potential suppliers, a few of which can be single or restricted supply; growth of the marketplace for business EVs; intense competitors within the e-mobility area, together with with opponents who’ve considerably extra assets; REE’s capacity to make continued investments in its platform; the impression of the continuing COVID-19 pandemic and another worldwide well being epidemics or outbreaks that will come up; the necessity to appeal to, practice and retain highly-skilled technical workforce; modifications in legal guidelines and rules that impression REE; REE’s capacity to implement, defend and keep mental property rights; REE’s capacity to retain engineers and different extremely certified staff to additional its objectives; and different dangers and uncertainties set forth within the sections entitled “Threat Components” and “Cautionary Word Concerning Ahead-Wanting Statements” in REE’s remaining prospectus referring to its enterprise mixture filed with the U.S. Securities and Trade Fee (the “SEC”) on July 1, 2021 and in subsequent filings with the SEC. Whereas the listing of things mentioned above and the listing of things introduced within the remaining prospectus are thought of consultant, no such listing ought to thought of to be a whole assertion of all potential dangers and uncertainties. Unlisted components could current important further obstacles to the conclusion of forward-looking statements.
Head of Communications, REE Automotive
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SOURCE REE Automotive