Ree automotive reports first quarter 2024 financial results: deliveries to customers have begun including to penske, u-haul and airbus
Penske truck leasing begins to offer powered by ree® electric vehicles to its customers u-haul received powered by ree electric platform and is evaluating it as the first solution to support the electrification of its fleet airbus and ree collaborate on an autonomous program utilizing ree's p7-c full by-wire and autonomous-ready technology, which opens ree to new autonomous driving markets demo program underway, with a growing number of trucks already delivered and an increasing number of fleets that continue to provide excellent reviews through ree's network of 20 dealers, 66 sales and service locations, reaching a potential 200 fleet customers across north america in discussions with several automotive manufacturers to incorporate reecorner® by-wire technology into their electric offerings p7-c is the first full by-wire truck to achieve u.s. fmvss certification; now eligible for customer incentives of over $100,000 per truck cash and equivalents of $77.5 million as of march 31, 2024; $15 million (gross) proceeds raised in a public offering at $6.50 per share led by m&g, a strategic automotive investor and ree's largest shareholder first quarter gaap net loss narrowed by 29% quarter-over-quarter (qoq) with non-gaap net loss narrowing by 33% qoq mainly due to the completion of the engineering phase and operational efficiencies company will hold a conference call at 8:30 a.m. eastern time today, may 30, 2024 which can be accessed via webcast at investors.ree.auto or webcast registration link ; and via conference call dial-in link.
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