{"id":52212,"date":"2024-01-25T11:03:05","date_gmt":"2024-01-25T11:03:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/monarch-truck-center-to-host-ride-and-drive-of-rees-p7-c-for-canteen-stanford-university-city-of-san-jose-and-other-large-fleet-customers-in-the-bay-area\/"},"modified":"2024-01-25T11:03:05","modified_gmt":"2024-01-25T11:03:05","slug":"monarch-truck-center-to-host-ride-and-drive-of-rees-p7-c-for-canteen-stanford-university-city-of-san-jose-and-other-large-fleet-customers-in-the-bay-area","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/monarch-truck-center-to-host-ride-and-drive-of-rees-p7-c-for-canteen-stanford-university-city-of-san-jose-and-other-large-fleet-customers-in-the-bay-area\/","title":{"rendered":"Monarch Truck Center to Host Ride and Drive of REE\u2019s P7-C for Canteen, Stanford University, City of San Jose and Other Large Fleet Customers in the Bay Area"},"content":{"rendered":"
\n

SAN FRANCISCO, Jan. 25, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd.<\/u><\/a> (Nasdaq: REE) (\u201cREE\u201d or the \u201cCompany\u201d), an automotive technology company and provider of full by-wire electric trucks and platforms, announced today that Monarch Truck Center, a premier medium-duty truck dealer in the California Bay Area, will be amongst the first of REE\u2019s certified dealers to receive a P7-C medium-duty by-wire electric demo truck that fleet customers will be able to experience.<\/p>\n

Many of Monarch Truck Center\u2019s large fleet customers will be invited to test and evaluate the P7-C for daily fleet operations at ride and drive events in the Bay Area. These customers include, among others, Canteen, the leading provider of workplace food services in the U.S. and part of Compass Group North America, Stanford University and the City of San Jose.<\/p>\n

\u201cWe are excited to be amongst the first dealers in the U.S. to be receiving REE\u2019s P7-C demo for multiple customers to have an opportunity to use and evaluate the first full-by-wire electric work truck,\u201d said Nicole Guetersloh, President and Owner of Monarch Truck Center. \u201cWe see a strong potential for the P7-C to become an important part of our largest fleet customers next generation electric fleet and we will hold a REE ride and drive event for our customers to test and evaluate\u00a0the P7-C for their daily fleet operations.\u201d<\/p>\n

Over the next few months Monarch\u2019s fleet customers will evaluate REE’s touted benefits of the P7-C, including its driver centric cabin, modular upfitting designs and improved maneuverability.<\/p>\n

\u201cMonarch Truck Center is an important partner that brings a valuable voice of the customer feedback through their relationships with rental and large fleet customers,\u201d said Tali Miller, Chief Business Officer at REE. \u201cWe see a very strong potential for the P7-C in California\u2019s electrification plans. It is important for us to allow California-based fleets to have the first opportunity to experience REE\u2019s strong value offering so they can take advantage of the lucrative California electrification incentives.\u201d<\/p>\n

To learn more about REE Automotive\u2019s patented technology and unique value proposition that positions the company to break new ground in e-mobility, visit www.ree.auto<\/a>.<\/p>\n

About REE Automotive<\/strong><\/p>\n

REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE\u2122 are equipped with the revolutionary REEcorner\u2122, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to certify a fully by-wire vehicle in the US, REE\u2019s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners\u2122 enables REE to make the industry\u2019s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify.<\/p>\n

To learn more visit www.ree.auto<\/a>.<\/p>\n

Media Contact<\/strong>
Malory Van Guilder
Skyya PR for REE Automotive
+1 651-335-0585
ree@skyya.com<\/a><\/p>\n

Investor Contact<\/strong>
Kamal Hamid
VP Investor Relations | REE Automotive
+1 303-670-7756
investors@ree.auto<\/a><\/p>\n

Caution About Forward-Looking Statements<\/strong><\/p>\n

This communication includes certain forward-looking statements within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements regarding REE or its management team\u2019s expectations, hopes, beliefs, intentions or strategies regarding the future. For example, REE is using forward looking statements when it discusses the strong potential for the P7-C to become an important part of Monarch\u2019s largest fleet customers next generation electric fleet, that customers will test and evaluate the P7-C for their daily fleet operations, the potential benefits of the P7-C and that it sees strong potential for the P7-C in California\u2019s electrification plans. In addition, any statements that refer to plans, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words \u201caim\u201d \u201canticipate,\u201d \u201cappear,\u201d \u201capproximate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforesee,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201cwould\u201d, \u201cdesigned,\u201d \u201ctarget\u201d and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements in this communication may include, among other things, statements about REE\u2019s strategic and business plans, technology, relationships and objectives, including its ability to meet certification requirements, the impact of trends on and interest in our business, or product, intellectual property, REE\u2019s expectation for growth, and its future results, operations and financial performance and condition.<\/p>\n

These forward-looking statements are based on REE\u2019s current expectations and assumptions about future events and are based on currently available information as of the date of this communication and current expectations, forecasts, and assumptions. Although REE believes that the expectations reflected in forward-looking statements are reasonable, such statements involve an unknown number of risks, uncertainties, judgments, and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. These factors are difficult to predict accurately and may be beyond REE\u2019s control. Forward-looking statements in this communication speak only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur.<\/p>\n

Uncertainties and risk factors that could affect REE\u2019s future performance and could cause actual results to differ include, but are not limited to: REE\u2019s ability to commercialize its strategic plan, including its plan to successfully evaluate, obtain regulatory approval, produce and market its P7 lineup; REE\u2019s ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE\u2019s advanced prototypes into marketable products; REE\u2019s ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE\u2019s estimates of unit sales, expenses and profitability and underlying assumptions; REE\u2019s reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE\u2019s limited operating history; risks associated with building out of REE\u2019s supply chain; risks associated with plans for REE\u2019s initial commercial production; REE\u2019s dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; risks associated with data security breach, failure of information security systems and privacy concerns; risks related to lack of compliance with Nasdaq\u2019s minimum bid price requirement; future sales of our securities by existing material shareholders or by us could cause the market price for the Class A Ordinary Shares to decline; potential disruption of shipping routes due to accidents, political events, international hostilities and instability, piracy or acts by terrorists; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that REE is incorporated in Israel and governed by Israeli law; REE\u2019s ability to make continued investments in its platform; the impact of the COVID-19 pandemic, interest rate changes, the ongoing conflict between Ukraine and Russia and any other worldwide health epidemics or outbreaks that may arise and adverse global conditions, including macroeconomic and geopolitical uncertainty; the global economic environment, the general market, political and economic conditions in the countries in which we operate; the ongoing military conflict in Israel; fluctuations in interest rates and foreign exchange rates; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE\u2019s ability to enforce, protect and maintain intellectual property rights; REE\u2019s ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled \u201cRisk Factors\u201d and \u201cCautionary Note Regarding Forward-Looking Statements\u201d in REE\u2019s annual report filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) on March 28, 2023 and in subsequent filings with the SEC.<\/p>\n

Photos accompanying this announcement are available at:<\/p>\n

https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/56fde0c2-b203-420c-99e5-3f5e960c5f3d<\/a><\/p>\n

https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/cb02f621-a34c-4aa9-bb78-6a2c519badcc<\/a><\/p>\n

https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/0cb1af87-3f51-4208-8fa1-89281910b4ac<\/a><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, Jan. 25, 2024 (GLOBE NEWSWIRE) — REE Automotive Ltd. (Nasdaq: REE) (\u201cREE\u201d or the \u201cCompany\u201d), an automotive technology company and provider of full by-wire electric trucks and platforms, announced today that Monarch Truck Center, a premier medium-duty truck dealer in the California Bay Area, will be amongst the first of REE\u2019s certified dealers 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