By Dean Seal
Ree Automotive shares tumbled after the company said it has substantial doubt about its ability to continue operating due to the recent tariff war and economic volatility impacting its business.
The electric-vehicle maker said Thursday that changes in the global economy and swirling tariff policies hurt its ability to bring its P7 model to market as planned and its ability to raise debt. That directly impacted Ree's revenue forecast, the company said.
Ree is going to pause production and drastically cut costs, including with job cuts.
"We will announce details of this in the near future, but for now, investors should expect significant reduction in operational expenses alongside the production pause," the company said.
The stock dropped 15% at $2.80 in premarket trading. Shares had already fallen 63% year-to-date when the market closed Wednesday.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 15, 2025 07:39 ET (11:39 GMT)
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