REE Automotive shares Q1 2024 financial results

REE Automotive shares Q1 2024 financial results

Penske Truck Leasing offering Powered by REE EVs to its customers is among the financial report highlights.

REE Automotive reported its financial results and operational highlights for the three months ending March 31. The company highlights that deliveries to customers including to Penske, U-Haul and Airbus, are underway.

“We started 2024 with strong momentum and catalytic milestones, from achieving U.S. certification to starting to deliver trucks against our order book as part of our demo program with our dealers across North America. These demos are used by dealers to generate orders from their fleet customers, potentially further growing our order book value, which recently crossed $50 million,” said Daniel Barel, REE’s co-founder and chief executive officer. “As our dealer network is now sufficiently built to properly cover North America, we are pivoting to focus on adding fleet orders to our order book and to serve some of the largest fleet companies in the world, including Penske Truck Leasing and U-Haul International, Inc.”

Read more about the report here.

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