- REE Automotive Ltd's REE REEcorner technology was awarded $17 million in funding from the UK government. This funding is part of a $57 million investment coordinated through the Advanced Propulsion Centre (APC).
- The funding will allow REE to advance the commercial production of its REEcorner technology and ultra-modular EV platforms.
- The project aims to accelerate industry shift towards net zero emissions with REE's technology designed to support an extensive range of electric vehicles.
- Price Action: REE shares are trading lower by 8.13% at $9.15 on the last check Thursday.
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