REE Automotive is making waves in the electric vehicle market with its latest announcement. The company has chosen Roush Industries as its partner for assembling its innovative P7 electric trucks. Production is set to begin in the fourth quarter of 2024 at Roush’s Detroit-area factory, which boasts an impressive annual capacity of up to 5,000 vehicles.
The P7 electric trucks are designed with a flat vehicle base, offering a significant advantage – up to 35% more space for cargo, passengers, and batteries. This unique design also features the industry’s lowest step-in height, making it incredibly user-friendly.
REE’s COO, Josh Tech, expressed his enthusiasm for the partnership, highlighting Roush’s expertise in the commercial EV market and their capacity to scale production effectively. He emphasized the importance of bringing these innovative trucks to market quickly while maintaining the highest quality standards.
“We chose to work with Roush because of their proven capabilities and expertise in the commercial EV market, their capacity to scale production, and their understanding of our unique business model, which is to build our vehicles to order, not for inventory,” said Tech. “We want to get our trucks in the hands of our customers as soon as possible, while not sacrificing on quality, making sure our customers can count on us as they build their electric commercial fleets.”
By teaming up with Roush, REE can focus on its core technology and the production of its innovative “REEcorners” while optimizing production costs and accelerating the time it takes to bring its vehicles to market. This strategic partnership leverages Roush’s impressive 40-year track record of engineering and manufacturing excellence, spanning from NASCAR and lunar terrain vehicles to cutting-edge electric vehicles.
Investing in REE Automotive
If you’re interested in participating in the market for REE Automotive (REE), either by purchasing shares or exploring other investment strategies, there are a few avenues to consider.
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Buying Shares:
The most common way to invest in a company is through a brokerage account. You can find a list of reputable trading platforms online, many of which offer the option to buy fractional shares. This allows you to own a portion of a stock without purchasing an entire share. For example, if you want to invest in a company like Berkshire Hathaway, which can cost thousands of dollars per share, fractional shares allow you to invest a smaller amount. Since REE Automotive is currently trading at $6.15, you could buy 16.26 shares with $100.*
Short Selling:
If you believe the stock price of a company will decline, you might consider short selling. This involves borrowing shares from a broker and selling them in the market, hoping to buy them back at a lower price later. This strategy can be more complex and involves certain risks.*
Options Trading:
Options trading offers another way to profit from share price fluctuations. This involves buying or selling contracts that give you the right, but not the obligation, to buy or sell shares at a specific price. If you anticipate the stock price of REE Automotive will decline, you might consider buying a put option or selling a call option.
REE Price Action:
At the time of writing, REE Automotive stock is trading down 4.86% at $6.04 per share, according to data from Benzinga Pro.
