REE Automotive P7-C Receives CARB Certifications

• Powered by REE P7-C electric truck is eligible for sale in California

• Certifications makes P7-C eligible for over $100,000 in state and federal incentives

• Deliveries have commenced to REE’s Authorized Dealer Network and vehicle demonstrations will continue in the coming months

TEL AVIV, Israel, March 25, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, which recently announced FMVSS (Federal Motor Vehicle Safety Standards) and EPA (Environmental Protection Agency) certification, today announced it has received two certifications from California Air Resources Board (“CARB”) on the Class 4 P7-C chassis cab. The two certifications include (1) Phase 2 Greenhouse Gas (“GHG”) covering the complete vehicle and (2) the new Zero Emission Powertrain (“ZEP”) certification. In addition to California, several other states are expected to adopt the Phase 2 GHG and ZEP requirements in the coming years.

CARB certification is a requirement for eligibility for several state incentives, which combined with federal can total over $100,000 per vehicle depending on customer location. California and several other states have indicated plans to adopt the Advanced Clean Truck Regulation, a manufacturers sales requirement to sell growing percentages of electric trucks, and requires ZEP certification.

“Being CARB certified unlocks many doors for us and for our customers as we can now sell in California, and I am excited for our California dealers as they start to receive their Powered by REE trucks,” said Daniel Barel, CEO and co-founder of REE Automotive. “This is an important milestone since now Powered by REE vehicles can receive more than $100,000 incentive funding which makes it even easier for fleets to electrify. We believe that this cost savings, combined with our REEcorner and x-by-wire technology’s ability to lower total cost of ownership, will boost even further the strong demand we see for our P7 lineup.”

REE’s P7-C has already achieved FMVSS and EPA certification, making it the first U.S. FMVSS certified fully by-wire vehicle.

To learn more about REE Automotive’s patented technology and unique value proposition that position the company to break new ground in e-mobility, visit www.ree.auto.

About REE Automotive
REE Automotive (Nasdaq: REE) is an automotive technology company that allows companies to build electric vehicles of various shapes and sizes on their modular platforms. With complete design freedom, vehicles Powered by REE are equipped with the revolutionary REEcorner, which packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel. As the first company to FMVSS certify a fully by-wire vehicle in the U.S., REE’s proprietary by-wire technology for drive, steer and brake control eliminates the need for mechanical connection. Using four identical REEcorners enables REE to make the industry’s flattest EV platforms with more room for passengers, cargo and batteries. REE platforms are future proofed, autonomous capable, offer a low TCO, and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.