REE Automotive Announces Closure of Union with 10X Capital Venture Acquisition Corp (NASDAQ: VCVC)

REE Automotive (REE) announced that its merger with 10X Capital Venture Acquisition Corp (NASDAQ: VCVC) was about to be finalized.

The company Announces Tactical Partnership with JB Poindexter & Co Business Component EAVX

The company announced that it announced that was entering into a tactical partnership with EAVX, a solely possessed JB Poindexter & Co (JBPCO) business component. REEcorner expertise comprises acute vehicle mechanisms like the engine, directing, braking, and suspension into a single solid module. It permits a fully-flat EV platform, allowing the lowest step-in height and all-out cargo capacity for conveying load and passengers with more area for batteries for prolonged range.

The JB Poindexter business initiative comprises saleable work lorry bodies and fixture industry front-runners Morgan Olson, Morgan Corporation, Reading, Truck Accessories Group, and Masterack. REE and EAVX will cooperate in maturing best-in-class, zero-emission, profitable EV work lorries for current and new clienteles that will assimilate the REEcorners™ and JBPCO commercial vehicle body resolutions. REE and EAVX will also cooperate to nurture their joint client base and bring EVs to North American marketplaces that will be ‘Run by REE.’

“The JB Poindexter & Co is the front-runner in commercial work lorry builds and accessories. Therefore, they are the perfect associate to help drive EV acceptance in the commercial market section,” said Daniel Barel, REE Co-Founder, and CEO. “This partnership is a crucial step frontward for REE’s business development – and refining livability and quality of life by removing carbon releases. REE is devoted to associating with companies that will push limits, and this partnership helps put us on the fast track to achieving our apparition of serving as the keystone of next-gen EVs ‘Run by REE.’

REE Automotive signs agreement with Magna International Inc.

In other news, REE Automotive today announced that it had signed an agreement with Magna International Inc. to bring to market its full-fledged Integrated Electric Vehicles for tech businesses and new electric flexibility players under the ‘Run by REE’ brand.

The planned partnership will discover the grouping of REE’s revolutionary REEcornerTM skill with Magna’s vehicle schemes know-how and to develop EV’s that permit commercial clienteles to modify vehicles founded on their stipulations and labeling while hurrying time to market.

REE and Magna will also reconnoiter possible partnership in global suppleness through the formation of a “Mobility-as-a- Service” (MaaS) undertaking in the Light Commercial Vehicle (LCV) segment. This partnership will leverage REE’s patented X-by-Wire REEcornerTM and EV platform skill, as well as Magna’s manufacturing imprint and competencies.

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