REE Automotive Receives $17M Funding From UK Government

by Shivani Kumaresan, Benzinga Staff Writer
August 19, 2021 3:00 PM | 1 min read | Make a Comment
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  • REE Automotive Ltd's REE REEcorner technology was awarded $17 million in funding from the UK government. This funding is part of a $57 million investment coordinated through the Advanced Propulsion Centre (APC).
  • The funding will allow REE to advance the commercial production of its REEcorner technology and ultra-modular EV platforms.
  • The project aims to accelerate industry shift towards net zero emissions with REE's technology designed to support an extensive range of electric vehicles.
  • Price Action: REE shares are trading lower by 8.13% at $9.15 on the last check Thursday.
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