Hino Motors and REE Automotive Sign Business Alliance Agreement
May 03, 2021 12:04 PM ET Legal Newswire POWERED BY LAW.COM
To realize and bring to market their shared vision of providing new value to society through next-generation commercial mobility
The Alliance to combine Hino s knowledge and technologies as a commercial vehicle manufacturer closely attuned to customer needs with REE s innovative and highly competitive proprietary REEcorner™ EV technologies
Assess business models for the co-creation of next generation electric mobility solutions to enhance new social value, promoting the use of mobility-driven data
Companies aim to develop hardware prototypes by 2022
Hino Motors Co., Ltd. (Hino), a subsidiary of Toyota Motor Corporation, and REE Automotive Ltd. (REE), an innovator in e-mobility, today announced the signing of a strategic business alliance agreement to realize their shared vision of providing new value to society through next-generation commercial mo
By JNS
The Israeli startup REE Automotive and Toyota subsidiary Hino Motors Co. announced on Tuesday their partnership to develop electric commercial vehicles to transport people and goods.
The companies said the signing of their business agreement shows their shared vision of “providing new value to society through next-generation commercial mobility” that is geared to “improve quality of life on a global scale by lowering carbon emissions, minimizing strain on infrastructure, reducing congestion and allowing companies to better allocate resources.”
The two companies provide vast expertise that will help their partnership: Hino obtains knowledge and technologies as a commercial vehicle manufacturer, and REE has developed innovative and highly competitive proprietary REEcornerTM EV (electric vehicle) technologies.
Toyota affiliate teams with Israeli startup to create electric commercial vehicles
The two companies will work to develop hardware prototypes by 2022.
REE’s EV platforms. Credit: REE Automotive.
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(April 28, 2021 / JNS) Toyota subsidiary Hino Motors Co. and the Israeli startup REE Automotive announced on Tuesday their partnership to develop electric commercial vehicles to transport people and goods.
The companies said the signing of their business agreement shows their shared vision of “providing new value to society through next-generation commercial mobility” that is geared to “improve quality of life on a global scale by lowering carbon emissions, minimizing strain on infrastructure, reducing congestion and allowing companies to better allocate resources.”
Toyota s Hino Motors teams with Israeli startup to produce electric trucks
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The companies said Tuesday said they hope to have the first EV prototypes developed by next year. File Photo by Brian Kersey/UPI | License Photo
An electric vehicle concept based on Hino Motors FlatFormer platform is seen at the 46th Tokyo Motor Show in Tokyo, Japan, on October 23, 2019. File Photo by Mori Keizo/UPI | License Photo
Hino Motors FlatFormer vehicle platform is seen at the 46th Tokyo Motor Show in Tokyo, Japan, on October 23, 2019. File Photo by Mori Keizo/UPI | License Photo
Toyota s electric C-HV is seen at the International Auto Show in Beijing, China, on September 28, 2020. File Photo by Stephen Shaver/UPI | License Photo