EXCLUSIVE: REE Partners with Penske to Launch P7-C EV Trucks, Enhancing Fleet Electrification Options
Portfolio Pulse from Anusuya Lahiri
REE Automotive Ltd (NASDAQ:REE) has partnered with Penske Truck Leasing to offer its P7-C EV trucks to Penske's customers, enhancing fleet electrification options. The collaboration includes Wabash National Corp (NYSE:WNC) for custom truck body upfitting. REE's shares rose by 4.26% following the announcement.
May 15, 2024 | 10:30 am
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POSITIVE IMPACT
REE Automotive has partnered with Penske Truck Leasing to offer P7-C EV trucks, enhancing fleet electrification options. This partnership is expected to boost REE's order book and market presence.
The partnership with Penske Truck Leasing is significant for REE Automotive as it enhances the company's market presence and order book value. The positive market reaction, with shares rising by 4.26%, indicates investor confidence in the potential growth from this collaboration.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Wabash National Corp is collaborating with REE Automotive to upfit the P7-C EV trucks with custom DuraPlate truck bodies, enhancing the feasibility and durability of electric chassis for fleets.
Wabash National's collaboration with REE Automotive to provide custom DuraPlate truck bodies for the P7-C EV trucks is likely to enhance the company's market position in the electric vehicle sector. The lightweight and durable properties of DuraPlate technology make it a valuable addition to the EV market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70