REE P7-C Electric Truck Achieves US Certification, Begins Deliveries

TL;DR

**REE's P7-C electric truck is certified and shipping, making it eligible for huge tax credits.**

AI Summary

REE Automotive Ltd. announced on January 11, 2024, that its P7-C electric truck is the first fully by-wire truck to achieve U.S. FMVSS and EPA certifications, making it road-legal in the U.S. The company has begun customer deliveries of demonstration trucks and highlighted that the P7-C is eligible for a U.S. federal tax credit of up to $40,000 per vehicle, with potential for over $100,000 in total incentives with state credits. This is significant for investors as it signals the company's transition from development to commercialization, potentially boosting revenue and market adoption.

Why It Matters

This filing indicates REE Automotive is moving from R&D to sales, with its P7-C truck now certified and eligible for substantial tax credits, which could accelerate customer adoption and revenue growth.

Risk Assessment

Risk Level: medium — While certification and deliveries are positive, the company is still in early commercialization, and market adoption and sustained profitability remain unproven.

Analyst Insight

A smart investor would view this as a positive step towards commercial viability and consider if the current stock price reflects the potential for future revenue growth from these certified and incentivized deliveries.

Key Numbers

• $40,000 — Federal Tax Credit (per P7-C vehicle, making it more attractive to buyers)
• $100,000 — Total Incentives (potential per P7-C vehicle with state credits, significantly reducing purchase cost)

Key Players & Entities

• REE Automotive Ltd. (company) — the registrant and issuer of the press release
• P7-C (product) — REE's fully by-wire electric truck
• U.S. FMVSS (standard) — U.S. Federal Motor Vehicle Safety Standards
• EPA (standard) — U.S. Environmental Protection Agency certifications
• $40,000 (dollar_amount) — U.S. federal tax credit per P7-C vehicle
• $100,000 (dollar_amount) — potential total incentives per P7-C vehicle with state credits

Forward-Looking Statements

• REE Automotive will see increased order volumes for its P7-C truck due to certifications and tax credits. (REE Automotive Ltd.) — medium confidence, target: Q4 2024
• The eligibility for significant tax credits will be a key differentiator for the P7-C in the electric truck market. (P7-C) — high confidence, target: Ongoing

FAQ

Key Financial Figures

• $40,000 — le for U.S. federal tax credit of up to $40,000 per vehicle and are expected to be elig
• $100,000 — nd are expected to be eligible for over $100,000 of incentives per vehicle with addition

Filing Documents

• ea191452-6k_reeautomotive.htm (6-K) — 15KB
• ea191452ex99-1_reeauto.htm (EX-99.1) — 23KB
• ex99-1_001.jpg (GRAPHIC) — 4KB
• 0001213900-24-002814.txt ( ) — 46KB

Forward-Looking Statements

Forward-Looking Statements This information includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. REE’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as words “aim” “anticipate,” “appear,” “approximate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would”, “designed,” “target” and similar expressions are intended to identify such forward-looking from the expected results. Most of these factors are outside REE’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: authorized dealer and leading fleet’s expectations to receive additional P7-C demonstration units in the coming weeks, the potential tax credits and incentives available for the P7-C, the potential benefits of its proprietary REEcorner™ and x-by-wire technology and that the federal and state incentives that the P7-C will be eligible for will help accelerate fleet electrification in the U.S., helping to improve public health and meet ambitious climate goals, and other risks and uncertainties indicated from time to time

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. REE AUTOMOTIVE LTD. By: /s/ Avital Futterman Name: Avital Futterman Title: General Counsel Date: January 11, 2024 3

View Full Filing

View this 6-K filing on SEC EDGAR