Israeli eMobility startup Ree Automotive, which announced its IPO on the U.S. stock market a few days ago, is investing $92 million (about €76 million) in a new "Engineering Center of Excellence" in England, specifically in the central English county of Warwickshire.
Locally, the company plans to accelerate the development, testing and homologation of its e-vehicle architecture and create 200 jobs in the coming years. Ree is headquartered in Tel Aviv, but also operates offices in the US, UK and Germany.
The Israeli startup has high hopes for its in-house developed space-saving architecture for electric cars, which is supposed to give designers more freedom to design the vehicle's interior. The concept is based on the idea of housing all the components necessary for locomotion in the wheel and wheel well. Ree calls this approach "REEcorners", referring to the "corners" of the vehicle's underbody.