REE Automotive’s P7-C Electric Trucks and Platforms Approved for $30,000 Incentive Per Vehicle in Massachusetts

REE’s class 4 software-driven commercial EV was approved for the Massachusetts MOR-EV truck incentive which, when combined with the federal credit, could total up to $70,000 in cost savings per vehicle

Available for orders now at regional dealers in Massachusetts and across the U.S.

TEL AVIV, Israel, May 16, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced it was approved for the Massachusetts MOR-EV truck incentive, which is valued at $30,000 per truck. When combined with the federal commercial clean vehicle tax credit, fleets in Massachusetts could save up to $70,000 on REE’s class 4 P7-C chassis cab, bringing the cost down by 37%. Fleets in Massachusetts can order the software-driven, full by-wire P7-C through REE’s authorized dealers.

“EV truck incentives such as the MOR-EV rebate in Massachusetts promote the adoption of electric commercial vehicles and help fleets electrify at an accelerated pace,” said Richard Colley, VP of Government & Regulatory Affairs at REE Automotive. “In addition to MOR-EV incentives, we have submitted applications to become eligible for other incentives in various states, including California HVIP and we expect updates on other states soon.”

Both private and nonprofit entities as well as educational institutions and local, municipal and state governments are eligible to take advantage of the incentive.

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 total cost of ownership (TCO), and drastically reduce the time to market for fleets looking to electrify. To learn more visit www.ree.auto.