REE Automotive Receives $17M Funding From UK Government

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.