REE Automotive (REE) said Tuesday it signed a non-binding memorandum of understanding with an unnamed technology company to develop and produce thousands of autonomous vehicles based on its P7 platform.
The company said they plan to sign a strategic agreement by the end of 2025, and the collaboration is projected to generate up to $770 million in revenue by 2030.
Under the partnership, the company said it will integrate its FMVSS-certified P7 platform and next-gen software technology for a fast market launch, with the first production vehicles expected by as early as 2027.
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