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News  ›  Benzinga

REE Automotive Ties Up With BorgWarner Unit To Power Next-Gen EV Drive Systems

Benzinga Logo Benzinga By Lekha Gupta
REE Automotive Ties Up With BorgWarner Unit To Power Next-Gen EV Drive Systems

REE Automotive signed a strategic memorandum of understanding with Cascadia Motion (BorgWarner subsidiary) to co-develop next-generation electric drive units combining Cascadia Motion's iM-125 motor-inverter with REEcorner technology. The collaboration includes a royalty-based arrangement and targets OEM electrification initiatives. REE shares rose 4.64% in premarket trading.

Insights
CSCO   positive

Jumped 4.5% after beating analyst expectations and providing positive guidance


REE   positive

Strategic partnership with major automotive supplier BorgWarner expands REE's addressable market and validates its REEcorner technology. The deal includes royalty-based revenue potential and access to OEM customers. Stock price increased 4.64% in premarket trading, reflecting positive market reception.