Filing of Certain Prospectuses and Communications in Connection With Business Combination Transactions (425) May 26 2021 - 06:04AM Edgar (US Regulatory) Filed by REE Automotive Ltd.
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: 10X Capital Venture Acquisition Corp
Commission File No. 001-39737
Date: May 25, 2021
Delivering Results!
REE has been extremely active in the past couple of months as we keep on delivering results across the board.
? Significantly increased our market presence ? Further enhanced our supply chain ? Continued progression towards completing our merger with 10X Capital Venture Acquisition Corp (NASDAQ: VCVC)
Our strong and steady progress is the manifestation of years of hard work and deep cooperation with automotive leaders on both the supply and demand sides. These strategic collaboration agreements play a vital role in our future growth and success. Together, we are on a shared, electrifying path to creating a future ’Powered by REE’.
Demand and Go-to-Market Side Progress:
? Signed Business Alliance with Hino, Toyota’s Truck Arm with the aim of creating a modular platform ‘Powered by REE’, capable of carrying customized, detachable cabin designs to bring services and goods to a whole new level of efficiency and impact (Read PR). This Business Alliance is the product of our long and on-going collaboration with Hino following our joint presentation of the FlatFormer concept in the Tokyo Motor Show back in 2019. Hino recently announced another business alliance with Toyota and Isuzu to accelerate CASE response through a commercial vehicle partnership (Read PR).
? Signed Strategic Partnership with Magna International with the goal of developing and bringing to market fully modular electric vehicles (MEVs) based on our REEcorner™ technology and Magna’s vehicle systems integration and manufacturing expertise. (Read PR). Magna is amongst the world-leading automotive suppliers dedicated to delivering new mobility solutions and technology that will change the world. With 347 manufacturing operations and 84 product development, engineering, and sales centers in 28 countries, Magna is an amazing partner to bring MEVs to market.
? Signed Development and Supply to NAVYA Group collaborating on the development of a level 4 autonomous system based on REEcorners™ and Navya’s self-driving solutions. With hundreds of autonomous vehicles operated around the world, Navya is a leading name for self-driving solutions delivering proven self-driving solutions for B2B partners to reshape their transportation systems, for passengers or goods. (Read PR)
Supply Side Progress:
? Signed Development & Supply Agreement with American Axle & Manufacturing agreeing to jointly develop advanced electric propulsion systems with fully integrated high-speed motors and inverter technology to be used in REE’s highly modular and disruptive REEcorner™ technology. The electric drive units will be developed at AAM’s Advanced Technology and Development Center in Detroit with delivery of prototypes planned by the end of 2021. (Read PR)
? Opened a New REE Engineering Center to accelerate engineering design, validation, verification, and testing, as well as product homologation with access to world-class test facilities and a proving ground for physical testing and validation of the REEcorner™ and EV platform at the MIRA Technology Park in the UK. The Center will support REE’s CapEx-light global manufacturing strategy of multiple Integration Centers aimed to support SOP by 2023. (Read PR)
2 ? Unveiled 5 New REEcorners™ Families & EV platforms designed to support the broadest range of commercial electric vehicles. The new REEcorners™ show the breadth and depth of versatility that can be afforded to customers when it comes to designing vehicles based on their requirements. (Read PR)
Merger Updates
With recent developments in the general SPAC market and the updated SEC requirements, we continue to progress in completing our merger with 10X Capital Venture Acquisition Corp (NASDAQ: VCVC) by filing an amendment to the registration proxy statement in connection with the proposed merger.
Don’t miss the chance to see our Co-Founder & CEO Daniel Barel discuss his singular invention - the REEcorner™.
REEcorners™ pack critical vehicle components into the area between the wheel and the chassis - completely disrupting the automotive industry as we know it!
This video provides never-before-seen views of our REEcorners™ & EV platforms, and Daniel provides his personal view on the why & where that started all this.
Great talk with Bloomberg TV on the tremendous demand we see for Modular EVs. Daniel Barel, our Co-Founder & CEO, discusses how the company plans to help Canadian auto supplier Magna International muscle further into a growing field of EV players. He speaks with Bloomberg’s Ed Ludlow and Taylor Riggs on ‘Bloomberg Markets: The Close.’
See it here;
Forbes, CNBC, Yahoo Finance, Reuters - to see more coverage pieces CLICK HERE.
Disclaimer
Contact our experts today to build your next EV or AV Click here!
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