Ontario-based Magna to build modular EV with Israeli startup REE

Agreement would see companies split revenue on vehicles built on REE’s skateboard-like electric car platform

Magna International Inc. will develop a modular electric vehicle with Israeli startup REE Automotive, helping the Canadian auto supplier and contract manufacturer muscle further into a growing field of EV players.

The companies agreed to jointly design, engineer, and build the EVs using REE’s platform, the skateboard-like base that supports different vehicle designs on top. The vehicles can be built to the exact specifications of “global technology companies and e-mobility players” while speeding their entry into the market, Magna and REE said in a statement.

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About Crissy Wright

Crissy Wright is the Community Facilitator at the Manufacturing Innovation Network (MIN).

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