Business

REE Automotive Announces Fourth Quarter and Fiscal Year 2024 Earnings Results

TEL AVIV, Israel, May 15, 2025 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company that develops and builds software-defined vehicle technology and a provider of full by-wire electric trucks and platforms, today announced its fourth quarter and fiscal year 2024 financial results. “2024 was a breakthrough year for REE. We successfully accelerated our vision of software defined vehicle (SDV) technology from concept to commercial reality

articleRee Automotive Ltd.May 15, 202521/company/ree-automotive-holding-inc/news/ree-automotive-announces-fourth-quarter-110000165
REE Automotive Announces Fourth Quarter and Fiscal Year 2024 Earnings Results

About this update from Ree Automotive Ltd.

[{"type":"image","alt":"REE Automotive Ltd.","displaySize":"","headline":null,"caption":"REE Automotive Ltd.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":81,"url":"https://media.zenfs.com/en/globenewswire.com/d1b8a1f5ed2c0b534277638ab784a11b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vSmUUd0Pnot4xP9f26RKug--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTExMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/d1b8a1f5ed2c0b534277638ab784a11b","width":300,"height":81}},"lazy":false},{"type":"text","content":"TEL AVIV, Israel, May 15, 2025 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company that develops and builds software-defined vehicle technology and a provider of full by-wire electric trucks and platforms, today announced its fourth quarter and fiscal year 2024 financial results.","length":341,"tagName":"p"},{"type":"text","content":"“2024 was a breakthrough year for REE. We successfully accelerated our vision of software defined vehicle (SDV) technology from concept to commercial reality in 2024. We are seeing growing interest in our SDV platform from OEMs and technology companies, as evidenced by our reservations. We are encouraged by the notable interest in our software-defined platform in the market and we look forward to empowering our customers, not competing with them, with the tools and intelligence to build smarter, safer and more adaptable vehicles,” said Daniel Barel, Co-Founder and Chief Executive Officer of REE.","length":602,"tagName":"p"},{"type":"text","content":"“We entered 2025 with positive momentum. However, the broader macroeconomic environment has changed significantly in recent months. The uncertainty created by U.S. tariffs and trade policy has been disruptive to the global automotive industry, and its global supply chains, thus impacting our production ramp. In turn, this has made our quest to ramp our own production both more challenging and more risky. In light of this new environment, we made the prudent decision to make changes to our previous plans. Notably, the decision to implement a temporary pause to prior production plans while we monitor ongoing manufacturing and supply chain conditions. Commensurately, we have taken actions to significantly reduce operating expenses. In addition, in March 2025 we raised new equity ...

More updates from Ree Automotive Ltd.

REE Automotiveoperating expensesoperating expensesmacroeconomic environmentSDV