REE Automotive Initial Order Book Value Grows To ~$25M, A 30% Increase Since End Of August 2023
Portfolio Pulse from Benzinga Newsdesk
REE Automotive's initial order book value has grown to approximately $25M, a 30% increase since the end of August 2023. The company is progressing towards full vehicle certification with expected first customer deliveries by the end of 2023 and a production plan of up to 300 P7 trucks in 2024. REE's Authorized Dealer Network has also expanded to 15 dealers covering the U.S. and Canada.
October 18, 2023 | 12:05 pm
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REE Automotive's order book value has increased by 30% since August 2023, indicating strong demand for its products. The company is also expanding its dealer network in the U.S. and Canada, which could potentially increase its market reach and sales.
The increase in REE Automotive's order book value indicates strong demand for its products, which is a positive sign for the company's future revenues and profitability. The expansion of its dealer network in the U.S. and Canada could also potentially increase its market reach and sales, further boosting its financial performance. Therefore, this news is likely to have a positive impact on REE's stock price in the short term.
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