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Benzinga

Shivani Kumaresan

REE Automotive Commences Trials Of Electric P7 Modular Platform

REE Automotive Ltd (NASDAQ:REE) said it is commencing trials of its new P7 platform designed for commercial delivery vehicles and walk-in vans.
Fully flat from end-to-end, P7 offers more interior space and volumetric efficiency for vehicles in classes 3-5. The P7 platform is targeted to a U.S.-based delivery van program.
The P7 platform supports up to 8,800 lbs. maximum payload and packs up to 35% more packages than comparable commercial vehicles.
Electric and autonomous vehicles built on top of REE's P7 platforms will be able to achieve driving ranges of up to 370 miles with maximum speeds of 80 mph.
Price Action: REE shares are trading higher by 4.23% at $7.02 on the last check Wednesday.

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