AAM and REE Automotive to Develop a New Electric Propulsion System for e-Mobility

REE is merging with 10X Capital Venture Acquisition Corp, a special purpose acquisition company, to become a publicly listed company.

FREMONT, CA: American Axle & Manufacturing (AAM), a chief global Tier 1 automotive supplier of driveline and metal forming technologies, and REE Automotive (REE), a leader in e-Mobility, announce that both the firms are jointly developing an exciting new electric propulsion system for e-Mobility. REE is merging with 10X Capital Venture Acquisition Corp, a special purpose acquisition company, to become a publicly listed company.

“We are very excited to partner with REE to bring new e-Mobility technologies to the market,” said David C. Dauch, Chairman and Chief Executive Officer, AAM. “This agreement to provide electric drive technology for use in REEcorners is an important step in growing AAMs electric propulsion business and expanding the addressable market for AAMs newest product offerings. We believe that joining forces with an advanced technology company like REE will accelerate AAM on a path to deliver e-Mobility solutions to the market.”

According to the recently signed agreement, the parties plan to use AAM’s system integration capabilities and focus on NVH (Noise, Vibration, and Harshness) reduction to incorporate AAM’s lightweight and efficient next-generation electric drive units, which feature fully integrated high-speed motors and inverter technology, into REE’s highly modular and disruptive REEcorner technology that entails the integration of AAM’s lightweight and efficient next-generation electric drive units into REE’s highly modular and disruptive REE To provide significant functional and economic advantages, the REEcorner integrates important vehicle components (steering, braking, suspension, powertrain, and control) into the space between the chassis and the wheel.

“We are delighted to collaborate with AAM on this groundbreaking concept,” said Daniel Barel, Co-Founder and CEO, REE Automotive. AAMs modular drive solutions enhance our product offering with a highly compact form factor that will enable more design freedom and functionality for our future customers. Together with AAM’s extensive knowledge in automotive and their global manufacturing presence, we will be able to push the REEcorner technology even further.”

AAM’s Advanced Technology and Development Center in Detroit will create the electric drive units, with prototypes expected to be delivered by the end of 2021.