Shares of REE Automotive Ltd. (REE) slipped nearly 35% on Tuesday morning after the company said it entered into a non-binding memorandum of understanding (MOU) with a global technology company developing and marketing new mobility solutions for passenger and freight transport. Separately, REE Automotive prices $27 million registered direct offering of ordinary shares.
REE is currently trading at $4.2900, down $2.2800 or 34.70%, on the Nasdaq. The stock opened its trading at $5.2200 after closing Monday at $6.5700. The stock has traded between $2.9100 and $11.7200 in the past 52-week period.
The MOU outlines the companies' intent to develop and produce multiple thousands of autonomous-driving (AD) vehicles based on REE's existing P7 platform.
The parties intend to sign a strategic collaboration agreement by year-end 2025. It is estimated that the agreement will generate up to $770 million in potential revenues over the next five years. Through this collaboration, the companies plan to lead the global autonomous transportation market by integrating next-generation software-defined electrical architecture and best-in-class software technology.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.