REE Automotive Ltd. shares rose 5.01% in after-hours on Monday, November 15, 2021, and closed the Monday trading at $4.4. Even in the regular trading session of Monday, REE’s stock gained 8.27%. The stock volume remained 5.68 million shares. REE shares have moved down by 0.00% in the past week. Over the past three months, the stock has lost 56.08%, while over the past six months, it has declined 57.68%.
Let’s discuss its recent news briefly
REE Unveils Leopard
On November 15, 2021, REE Automotive Ltd. revealed its autonomous concept of vehicle Leopard, based on a brand new ultra-modular EV platform design. The full-scale concept is geared toward customers, including last-mile autonomous and electric delivery companies, delivery fleet operators, e-retailers, and technology companies seeking to build fully autonomous solutions.
REE upcoming financial results with expanded shareholder’s access
REE Automotive Ltd. will be announcing its third-quarter 2021 financial results on Tuesday, November 16, 2021, at 8:30 am ET. The company recently November 9, partnered with Say Technologies for a new platform that will deepen its connection with its investors and enable them to submit and upvote questions to management ahead of earning calls.
Participation in the upcoming conferences
REE Automotive Ltd. will be participating in the following upcoming events.
- MKM Partners: Gearing Up for the New Normal, which is to be held on Wednesday, November 17, 2021.
- Barclays Global Automotive and Mobility Tech Conference, which is scheduled for Thursday, November 18, 2021.
- Credit Suisse Industrials Conference on Thursday, December 2, 2021.
REE selected AXL for EDU units
On November 05, 2021, REE Automotive Ltd. selected American Axle & Manufacturing (AAM) Holdings, Inc. (AXL), to supply REE with its high-performance electric drive units (EDU).
AAM’s award-winning 3-in-1 electric drive technology will be integrated into REEcorner technology, which is a great match for REE’s compact and modular REEcorners as they offer more power with less weight and packaging volume.
The electric drive units will be developed at AAM’s Advanced Technology and Development Center in Detroit with the delivery of prototypes planned by the end of 2021 with full volume production expected by 2024.
REE new board members
On October 26, 2021, REE Automotive Ltd. appointed two new independent members. The company appointed seasoned veterans Ms. Michal Brikman and Ms. Lilach Geva-Harel. The additional board members deepen and diversify its leadership as the company progresses towards technology maturation and commercial production in 2023.
Conclusion
The recent Leopard concept, which was unveiled yesterday, was the reason behind its positive performance on Monday. The Tuesday performance will depend on the announcement of its financial results, which is due in the next 12 hours.
