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August 20, 2021

APC awards REE Automotive GBP12.5m funding

Grant follows opening of REE Engineering Centre in UK this year.

By Simon Warburton

REE Automotive’s REEcorner technology has been awarded GBP12.5m (US$17m) funding from the UK government as part of a GBP41.2m investment, coordinated through the Advanced Propulsion Centre (APC).

The award follows an intensive vetting and selection process from which REE’s project and three others were selected among dozens of companies.

Together, the four initiatives could save nearly 32m tons of carbon emissions, which is equivalent to the lifetime tailpipe emissions of 1.3m cars. The investment will help drive energy-saving technology across a wide range of vehicles.

The UK funds will allow REE to facilitate commercial production of its REEcorner technology and ultra-modular electric vehicle platforms, including engineering design, validation, verification and testing, as well as product homologation.

REEcorner technology packs vehicle components (for example, steering, braking, suspension, powertrain and control) into a single module located between the chassis and the wheel, enabling fully-flat EV platforms. REE’s ultra-modular EV platforms are designed to offer enhanced payload capacity by providing more room for carrying passengers, cargo and batteries and  body design flexibility, as well as autonomous capability.

“These projects tackle some really important challenges in the journey to net-zero road transport,” said APC chief executive, Ian Constance.

“They address range anxiety and cost, which can be a barrier to people making the switch to electric vehicles and they also provide potential solutions to the challenge of how we decarbonise public transport and the movement of goods.

“By investing in this innovation, we’re taking these technologies closer to the point where they are commercially viable, which will strengthen the UK’s automotive supply chain, safeguard or create jobs and reduce harmful greenhouse emissions.”

For his part, REE COO, Mike Charlton, added: “REE is honoured to have been selected as recipient of the UK funding to support REE investment in the UK automotive ecosystem following an extensive vetting and selection process.

“With the opening of our Engineering Centre in the UK in February this year, this reaffirms our commitment to the region and is in line with our plans for the mass production of our REEcorner and electric vehicle platform technology.

“The UK is an ideal location for a pioneering automotive company like REE thanks to the country’s commitment to vehicle electrification, which dovetails with our vision of propelling a zero-emissions, greener future for our generation and those to come.”

https://ree.auto/press-release/ree-automotive-awarded-17-usd-million-funding-from-the-uk-government/

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