REE Automotive Ltd.
REE Automotive Ltd. develops software-defined vehicle technology and by-wire systems for electric and autonomous-capable vehicles. The company is based in Israel and operates through a U.S.-listed holding structure, working with OEMs and technology partners that license or integrate its vehicle architecture and software.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueCore software-defined vehicle architecture and zonal control stack used to manage vehicle functions.
Electronic control systems for steering, braking and propulsion without mechanical linkages.
Technology licensing and commercial collaboration with OEMs and mobility partners.
Development support, integration work and customization for customer vehicle programs.
Customers
REE sells primarily to vehicle manufacturers and mobility technology partners that want to build on its software-defined vehicle architecture. Its model is aimed at OEMs that need modular, electronically controlled vehicle platforms and at partners that license the technology rather than develop a full by-wire stack in-house.
Truck, bus and specialty vehicle manufacturers buying SDV and by-wire architecture for new vehicle programs.
Companies that license REE's platform or collaborate on vehicle architecture and control systems.
Customers building autonomous-capable or highly configurable vehicle platforms.
End-market users reached through OEM programs that value modularity, software updates and control redundancy.
Strategy
REE's strategy centers on licensing its SDV and by-wire technology to OEMs rather than acting solely as a full-scale vehicle producer. The company is also focused on preserving the value of its intellectual property, expanding partner engagement, and evaluating strategic alternatives that could monetize the platform in different forms.
A licensing-led model can scale the SDV platform without requiring full vehicle manufacturing volume.
Commercial adoption depends on design wins and partner programs with vehicle manufacturers.
Patents and proprietary control systems are central to the company's strategic value.
Geography
2025REE is headquartered in Israel and is listed on Nasdaq in the United States. Its commercial focus is international, with reported engagement with a Japanese truck and bus manufacturer and broader OEM and technology-partner relationships that can span multiple markets.
Share of the revenue the company reports by geography.
Risks
REE faces execution risk as it transitions from production-oriented activity toward a software and licensing model, which requires partner adoption and successful commercialization. It also faces capital-market and listing risks, along with industry risks tied to long automotive development cycles, customer concentration, and the technical complexity of safety-critical vehicle systems.
- Nasdaq trading suspension and delistingImpact: HighLikelihood: High
The company disclosed that its ordinary shares will be suspended and removed from Nasdaq listing and registration.
Exposure: Capital access and share liquidity
- Execution risk in business model transitionImpact: HighLikelihood: High
Moving from production activity to a software-led structure can disrupt operations and delay monetization.
Exposure: Operating model and cost structure
- Commercialization and partner adoption riskImpact: HighLikelihood: Medium
The business depends on OEMs and technology companies choosing to license and integrate REE's platform.
Exposure: Revenue realization and scaling
- Automotive technology and certification riskImpact: MediumLikelihood: Medium
By-wire and SDV systems must meet strict safety and performance requirements in vehicle programs.
Exposure: Product validation and customer adoption
- Customer and program concentrationImpact: MediumLikelihood: Medium
Early-stage automotive technology companies often rely on a small number of OEM relationships.
Exposure: Program timing and demand visibility
Accounting
Judgemental itemsFair value changes in warrants created material non-cash income or expense swings between periods.
Impact: Can distort net loss versus cash performance
Inventory was written down to net realizable value and some items were written off after the production pause.
Impact: Affects gross margin and operating expense comparability
Impairment charges and lease termination losses reduce asset carrying values when expected use changes.
Impact: Impacts operating results and balance sheet asset values
Adjusted EBITDA excludes share-based compensation, one-time restructuring and production-pause costs.
Impact: Changes the view of underlying operating performance
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Last updated: 28/09/2026