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REE Completes U.S. Certification of Full-by-Wire Vehicles and Begins Customer Deliveries of its P7-C Electric Truck
REE’s P7-C is the first fully by-wire truck to achieve U.S. FMVSS and EPA certificationsCustomer deliveries of demonstration trucks has begunP7-C vehicles are
About this update from Ree Automotive Ltd.
[{"type":"text","content":"REE’s P7-C is the first fully by-wire truck to achieve U.S. FMVSS and EPA certificationsCustomer deliveries of demonstration trucks has begunP7-C vehicles are eligible for US federal tax credit of up to $40,000 per vehicle and are expected to be eligible for over $100,000 of incentives per vehicle with additional state credits TEL AVIV, Israel, Jan. 22, 2024 (GLOBE NEWSWIRE) -- REE Automotive Ltd. (Nasdaq: REE) (“REE” or the “Company”), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has begun customer deliveries of its P7-C electric chassis cab following Federal Motor Vehicle Safety Standards (FMVSS) and Environmental Protection Agency (EPA) certification, making it the first to certify a fully x-by-wire vehicle. REE is the first to certify a fully steer-by-wire, brake-by-wire and drive-by-wire vehicle. The Powered by REE™ P7-C medium duty electric commercial truck has met the FMVSS requirements and has achieved EPA approval. REE has initiated customer deliveries of the first batch of P7-C demonstration trucks for multiple fleets evaluations in North America via its fast-growing Authorized Dealer Network. Pritchard EV, a leading dealer in the U.S., is the first to receive the P7-C demonstration truck for a roadshow with its large fleet customers. Additional REE authorized dealers and leading fleets are expected to receive additional P7-C demonstration units in the coming weeks. REE’s P7-C is eligible for the U.S. federal Internal Revenue Service (IRS) Commercial Clean Vehicle Tax Credit (Internal Revenue Code 45W), which allows customers to receive a tax credit of up to $40,000 per vehicle. The Company is also in the process of initiating eligibility for various state incentives, which could bring the total incentive to over $100,000 per vehicle, depending on the customer’s location. “I believe our REEcorner is a true gamechanger, allowing us to build electric trucks that fleets will want to buy, and drivers will love to drive as we continue to see a strong demand for our work trucks,” said Daniel Barel, CEO and co-founder of REE Automotive. “I am incredibly proud of the team at REE for completing certification of the automotive industry’s first ever fully x-by-wire vehicle. Our customers have been eagerly waiting for our vehicles to be ready to deliver and no...