REE Automotive Strikes Partnership with Penske to Roll Out P7-C EV Trucks

In a landmark move for the electric vehicle industry, REE Automotive Ltd REE, a pioneering developer in the EV space, has made a pivotal announcement on Wednesday. The innovative EV maker unveiled its collaboration with Penske Truck Leasing, bringing Powered by REE EVs into the spotlight for customers keen on advancing towards an electrified fleet. This partnership not only places REE's groundbreaking technology on a bigger stage but also integrates Penske’s robust presence in the logistics world to steer the shift toward cleaner transportation methods.

Advancing Fleet Electrification

Harnessing the synergy between REE's cutting-edge EV technology and Penske’s extensive leasing network, this initiative aims to provide a fleet of P7-C EV trucks for customer demos and orders. The move by Penske Truck Leasing, a major player in the transportation industry, signifies a considerable step forward in fleet electrification. With this collaboration, REE's current order book value receives an impressive boost, now standing at an estimated $50 million and enhancing the company's market position.

Penske’s Commitment to Sustainable Solutions

Penske's decision to include REE's electric vehicles in its leasing options demonstrates the company’s resolve to contribute to a more sustainable future. It also reflects an increasing interest from businesses in adopting eco-friendly vehicles for their operations. The venture is set to aid clients who are transitioning from traditional combustion engine models to electric vehicles, supporting them in achieving their sustainability goals and reducing their carbon footprint.

The Role of Wabash National Corporation

While REE Automotive transforms the electric trucking segment, another key industry player, Wabash National Corporation WNC, continues to make strides in engineered solutions for transportation and logistics. Headquartered in Lafayette, Indiana, Wabash National Corporation remains a leader in designing and manufacturing durable and efficient transportation equipment, effectively complementing the growing demand for advanced logistics in an eco-conscious economy.

EV, Penske, REE