Ree Automotive has announced the Leopard, a skateboard design electric vehicle (EV) for autonomous last-mile delivery and passenger transport.
The Herzliya, Israel-based company will showcase the Leopard at the upcoming Consumer Electronics Show in Las Vegas in January. The company is opening a U.S. headquarters and integration center in Austin, Texas.
“This concept showcases just one design application of our groundbreaking technology, one that answers the strategically crucial question of how to carry out autonomous, zero-emissions last-mile deliveries, which has huge growth potential,” said Daniel Barel, Ree co-founder and CEO. “Autonomous and electric vehicles ‘Powered by Ree’ offer unsurpassed operational efficiency and the lowest total cost of ownership combined with full flexibility when it comes to integrating top hats in virtually any size, shape or form. We’re here to make the shift to a carbon-neutral future a reality faster and at scale.”
Based on Ree’s (NASDAQ: REE) modular EV platform, the Leopard can support a variety of configurations, including cargo and passenger, and is designed to be upfitted by customers to meet their needs. Measuring between 9.5 feet and 11.5 feet in length, the vehicle stands between 4.5 feet and about 7 feet in height, depending on body configuration.
With battery capacity of up to 60 kWh and peak motor power of 100 kW, the Leopard can achieve a maximum speed of 60 miles per hour and carry a payload of 1,650 pounds with a cargo volume of 265 cubic feet.
The Leopard uses x-by-wire technology to control each corner of the vehicle independently through its Reecorner solution. Reecorner combines all the critical components – steering, braking, suspension, powertrain and control – into a single module located between the chassis and the wheel. The vehicle features full drive-by-wire, brake-by-wire and steer-by-wire technologies.
Ree produces EV platforms for Class 1 through Class 6 vehicles and leverages Tier 1 partners for manufacturing processes, including walk-in van body provider JB Poindexter, autonomous vehicle systems developer Navya, brake system technology company Brembo, U.S. axle drive supplier American Axle & Manufacturing, and truck maker Hino Motors.
On Tuesday, Ree announced third-quarter financial results, posting a net loss of $414.9 million compared to a net loss of $18.8 million in Q3 2020. The company said the higher loss was due in part to noncash share-based compensation expenses of $409.8 million as a result of performance-based options granted to the company’s founders prior to its merger with 10X Capital in a deal that took the company public.
The non-GAAP net loss of $19.5 million in the third quarter of 2021 compared to $4.4 million in the third quarter of 2020 and was the result primarily of higher research and development costs as the company ramps up toward commercial production.
Ree had approximately $294.5 million in cash at quarter end. In the earnings release, the company said it expects to grow headcount from 231 as of Sept. 30 to approximately 2,700 by the end of the year.