REE Automotive Ltd., a premier technology firm in the automotive domain, specializing in electric trucks and platforms, unveiled the growth of its Authorized Dealer Network. This expansion includes the integration of three fresh dealers from Wisconsin, Illinois, and California, all of which have presented binding commitments for the P7-C electric truck from REE.
Why It Matters
The booming growth in REE’s initial order book, now approximating $25 million, demonstrates a robust 30% surge since late August 2023. This comes as REE advances towards their first customer deliveries set for this year, emphasizing the escalating demand for their P7 electric trucks in North America.
Key Points
- New authorized dealers joining the REE network are: Lynch Truck Center, C&M Motors, and XPO Sales.
- REE’s trucks come with competitive total cost of ownership, technological innovation, and prompt delivery schedules.
- Customers could avail federal incentives reaching up to $40,000 per vehicle. Some states even offer incentives up to $100,000 per vehicle.
- Recent certifications, including the EPA and the FMVSS certification-feasibility, further bolster the credibility of REE’s P7 electric trucks.
- Strategic collaborations have been initiated with top-tier work-truck body manufacturers: Knapheide and Morgan Truck Body.
- REE has also secured an agreement with Mitsubishi HC Capital America to provide bespoke financial solutions to their network.
Bottom Line
REE Automotive’s aggressive expansion and steady progress in certifications, coupled with its strategic partnerships, are clear indicators of the company’s forward trajectory. The enhanced dealer network and powerful federal incentives are paving the way for a more sustainable and electrified future in the automotive sector.
About the New Dealers
- Lynch Truck Center: A major supplier of commercial, fleet, and tow trucks across the U.S., with roots dating back to the 1950s.
- C&M Motors Inc: Serving the San Diego region since 1982, C&M Motors offers a broad spectrum of new and used commercial trucks and comprehensive services.
- XPO Sales: Specializes in airport, parking, and hotel shuttles, promoting green energy through electric vehicles, especially around the LAX.
The integration of these dealers into REE’s network fortifies the brand’s presence and extends its reach across various North American territories.
