Magna International has announced it will be joining forces with Israel’s REE Automotive Ltd. to develop modular electric vehicles (MEVs).
Based in Aurora Ontario, Magna will use their experience in vehicle systems integration and manufacturing capabilities to further REE’s existing EV platform.
“We are thrilled to reach a collaboration agreement with Magna, which should help put us on the fast track to support a broad range of electric vehicles (EVs). We see a growing demand for highly modular EVs from leading tech companies and new electric mobility players who have set their sights on entering the EV realm and building a brand in automotive. REE and Magna working together under the ‘Powered by REE’ approach can help bring their vision to life,” said Daniel Barel, REE Co-Founder and CEO.
The REE platform uses their REEcorner™ technology, which integrates all of the vehicle’s steering and braking components into the wheel mounting points using drive-by-wire systems. This allows the REE skateboard to be outfitted with a chassis of almost any shape or size.
The resulting MEV will allow commercial customers to customize vehicles based on their specifications, including length, width, height, payload capacities, battery capacity, and more.
In a press release, the two companies said the partnership will also see them explore the platform being offered as part of a “Mobility-as-a-Service” (MaaS) venture. No further details were provided on the plan.
Magna recently announced a $170 million investment into a new EV battery plant in Michigan. The 345,000 square foot facility, named Magna Electric Vehicle Structures, will manufacture complex battery enclosures for the upcoming GMC Hummer.