• Providers kick-off live demonstrations and evaluations by potential clients
  • Proxima sets new typical in driver consolation, aerodynamics and maneuverability
  • Watch Proxima in motion in this article

ANN ARBOR, Mich., July 25, 2022 (Globe NEWSWIRE) — EAVX, Morgan Olson and REE Automotive (Nasdaq: REE) are hosting the initially are living demonstrations and customer evaluations this 7 days of Proxima Powered by REE, the freshly declared completely generate-by-wire wander-in phase van. The joint functions spotlight the positive aspects of the recently-intended EAVX and Morgan Olson entire body paired with REE&CloseCurlyQuotes completely-flat, modular P7 chassis and x-by-wire engineering.

Around the future a number of months, prospective buyers will have the possibility to expertise the Proxima human body powered by REEcorner engineering and the P7 chassis. 1 of the joint method&CloseCurlyQuotes aims is to lessen complete cost of ownership, therefore easing the changeover to electric powered for fleets. It also helps fleets satisfy at any time-raising requires facing the field, which includes increased customer deliveries and continued driver shortages.

Further potential rewards incorporate operational efficiencies and adaptability that can be scaled across further programs and lessons 2b-6 for equally the human body and the chassis, with modularity and style independence in intellect.

Critical predicted gains of the Proxima human body on REE&CloseCurlyQuotes P7 include its noticeably enhanced aerodynamics, improved driver ergonomics, greater driver visibility and over-all basic safety, increased maneuverability, and integrated technologies:

  • Almost 60% reduction in drag when combining the Proxima physique with the REE system
  • Drive-, steer-, and brake-by-wire features eradicates mechanical connections, lessening underfloor turbulence and a reduced and flat load floor
  • A sensible electronic infrastructure by EAVX permits all connected systems during the car to exchange details and aid the driver.
  • Minimal load ground allows quick, simple accessibility for drivers and aids lower shipping cycle times
  • Ergonomics developed with drivers of all overall body styles, with aim on just about every inside element to reduce driver distraction and boost protection and comfort and ease
  • Significant driver visibility improvements coming from the two body and chassis, boosting both of those driver and pedestrian protection
  • REEcorners™ small turning radius from all-wheel steer and torque vectoring assures ideal maneuverability in crowded urban zones and loading docks
  • Lowered total expenditures of possession owing to reduced maintenance occasions from quick REEcorner™ swaps and solitary rear tires from an optimum weight distribution of Proxima body and cargo

“We are thrilled to start out sharing this initial Proxima idea Driven by REE, and its opportunity influence on the market with these buyers,&CloseCurlyDoubleQuote stated Mark Hope, COO and typical manager of EAVX. “Initial conversations have previously been achieved by praise from consumers big and modest throughout a range of supply segments. The shopper evaluations this 7 days are an enjoyable and essential future stage as we shift nearer to bringing the Proxima human body to industry.&CloseCurlyDoubleQuote

“These functions are an incredible option for top delivery firms and fleet professionals to see firsthand how Proxima paired with the REE chassis can answer the simply call for electrification selections that are swift, efficient and offer you a low total value of possession,&CloseCurlyDoubleQuote explained Daniel Barel, co-founder and CEO of REE. “These are living demonstrations will convey the benefit and efficiencies REE&CloseCurlyQuotes x-by-wire technologies can carry to fleets, as very well as the power of pairing this groundbreaking chassis with EAVX and Morgan Olson&CloseCurlyQuotes higher-tech overall body. We&CloseCurlyQuotere so psyched to get it on the road – and to assist upcoming-proof industrial fleets as they electrify.&CloseCurlyDoubleQuote

Morgan Olson&CloseCurlyQuotes President and CEO, Mike Ownbey provides, “This new Proxima action van is one more instance of Morgan Olson&CloseCurlyQuotes legacy for offering the work truck marketplace with progressive shipping and delivery alternatives. I&CloseCurlyQuotem looking forward to this voice of the buyer occasion and staying part of this collaborative challenge with EAVX and REE Automotive.&CloseCurlyDoubleQuote

For fleet house owners and technology businesses interested in understanding additional about Proxima or to established up a demonstration, stop by https://www.lastmileevolution.com.

Media

Matt Eul

Senior Supervisor, Promoting & Communications I EAVX

641.629.0921

[email protected]

Caroline Hutcheson

Head of World Communications I REE Automotive

+1252-314-2028

[email protected]

Ken Klein

Director of Advertising & Communications | Morgan Olson

269-689-5704

[email protected]

Investors

Limor Gruber

VP Investor Relations | REE Automotive

+972-50-5239233

[email protected]

Kamal Hamid

VP Trader Relations | REE Automotive

+1 303-670-7756

[email protected]

About EAVX

EAVX, the latest small business device and subsidiary of JB Poindexter & Co, collaborates with the most superior electric powered and different electricity chassis producers, letting chassis companions to aim on their revolutionary and proprietary systems. EAVX and the specific company models of JBPCO are the integration bodybuilders of decision for chassis producers serving current and potential EV and substitute gas marketplaces and advanced auto technological innovation markets. Take a look at eavxco.com for additional data.

About Morgan Olson

Morgan Olson is the major walk-in step van physique producer in North The united states, creating about 15,000 automobiles yearly. Almost all the things purchased on the web is shipped by a Morgan Olson stroll-in action van. Other critical industries served by Morgan Olson incorporate all key parcel bundle delivery businesses, laundry solutions, baking and snack meals, support & utility cars, and the at any time-rising cell cuisine meals trucks. For a lot more facts about Morgan Olson walk-in move vans, pay a visit to www.morganolson.com.

About REE Automotive

REE (Nasdaq: REE) is an automotive technological innovation leader whose mission is to empower organizations to construct any sizing or shape of electrical or autonomous motor vehicle – from Course 1 through Class 6 – for any software and any focus on market place. REE aims to serve as the underpinning on top rated of which EVs and AVs will be designed and envisions a future where by EVs and AVs will be ‘Powered by REE&CloseCurlyQuote.

REE&CloseCurlyQuotes revolutionary engineering – the REEcorner™ – packs crucial auto components (steering, braking, suspension, powertrain and regulate) into a one compact module positioned concerning the chassis and the wheel, enabling REE to create the sector&CloseCurlyQuotes flattest EV platforms with much more area for passengers, cargo and batteries. REE uses x-by-wire technological know-how to management every single of the corners of the automobiles with whole drive-by-wire, brake-by-wire and steer-by-wire.

REE&CloseCurlyQuotes EV platforms afford to pay for total flexibility of style and design, enabling car-manufacturers, OEMs, shipping & logistic fleets, Mobility-as-a-Assistance companies and new mobility gamers to style and design mission-distinct EVs and AVs centered on their actual business enterprise necessities and noticeably cut down their time-to-industry, decreased TCO and fulfill zero-carbon regulations.

Headquartered in Herzliya, Israel, REE has an Engineering Centre in the United kingdom, as very well as subsidiaries around the world together with Japan and Germany, and designs to open its U.S. headquarters and very first Integration Middle in Austin, Texas. REE&CloseCurlyQuotes one of a kind CapEx-light production design leverages Tier-1 associates&CloseCurlyQuote current output traces the firm&CloseCurlyQuotes intensive associate ecosystem encompasses main names which include Hino Motors (truck arm of Toyota), Magna Worldwide, JB Poindexter, Navya and American Axle & Manufacturing to supply a entire turnkey solution.

REE&CloseCurlyQuotes patented technological innovation, with each other with its special value proposition, posture it to split new floor in e-Mobility.

For much more details visit: https://www.ree.car.

Ahead Wanting Statements

This press launch contains forward-looking statements within just the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historic specifics, may perhaps be forward-looking statements. Terms these as “may,&CloseCurlyDoubleQuote “potential,&CloseCurlyDoubleQuote “will,&CloseCurlyDoubleQuote “should,&CloseCurlyDoubleQuote “likely,&CloseCurlyDoubleQuote “anticipates,&CloseCurlyDoubleQuote “expects,&CloseCurlyDoubleQuote “intends,&CloseCurlyDoubleQuote “plan,&CloseCurlyDoubleQuote “projects,&CloseCurlyDoubleQuote “believes,&CloseCurlyDoubleQuote “views,&CloseCurlyDoubleQuote “estimates&CloseCurlyDoubleQuote, “future&CloseCurlyDoubleQuote, “allow&CloseCurlyDoubleQuote, “aims&CloseCurlyDoubleQuote, “strives&CloseCurlyDoubleQuote “endeavors&CloseCurlyDoubleQuote and identical expressions are utilized to establish these ahead-seeking statements. These statements incorporate, amid other things, statements about strategic and enterprise programs, the Proxima overall body driven by REEcorner technological know-how, the P7 chassis and the joint software referenced herein. These forward-wanting statements are based on expectations and beliefs about future situations and require risks and uncertainties that may trigger true results to vary materially from current anticipations. Forward-seeking statements are only as of the date made and the get-togethers undertake no obligation to update the forward-wanting statements, whether as a consequence of new data, long run developments or or else, ought to instances improve, besides as normally needed by securities and other applicable laws. In light-weight of these dangers and uncertainties, traders should really preserve in thoughts that outcomes, functions or developments reviewed in any ahead-hunting assertion manufactured in this push launch could not occur. Uncertainties and danger things that could lead to effects to differ from the forward-on the lookout statements in this launch consist of, but are not minimal to: the potential of the parties to provide the Proxima human body run by REEcorner technological know-how and P7 chassis to sector, the results of the buyer evaluations, and other pitfalls and uncertainties established forth in the sections entitled “Risk Elements&CloseCurlyDoubleQuote and “Cautionary Be aware About Forward-On the lookout Statements&CloseCurlyDoubleQuote in REE&CloseCurlyQuotes Yearly Report on Kind 20-F filed with the U.S. Securities and Trade Fee (the “SEC&CloseCurlyDoubleQuote) on March 28, 2022 and in subsequent filings made by REE with the SEC.



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