The following is a summary of the REE Automotive Ltd (REE) Q4 2023 Earnings Call Transcript:

Financial Performance:

• REE Automotive has seen its order book value grow by 900% YoY to over $50 million.

• The company reduced its cash burn by 25% YoY, ending with $86 million in cash, cash equivalents, and short-term investments, including a $15 million credit bank facility.

• REE's largest institutional shareholder, M&G, led two successful capital raises totalizing $24 million.

Business Progress:

• The company produced the world's first FMVSS certified full by-wire electric vehicle, advancing their technology maturity.

• Their dealer network grew to 66 points of sales and service in the U.S. and Canada.

• REE Automotive completed their first commercial vehicle delivery in the U.S., receiving positive reviews on design, spaciousness, and performance.

• The first vehicle was rolled off the production line and delivered to one of the largest commercial vehicle dealers in the U.S.

• The company is poised to advance towards scale production later in the year with disciplined focus on its business plan and P7 lineup.

• REE Automotive anticipates to complete the remaining tooling investment by midyear to scale up U.S. production as orders are committed.

• They successfully achieved FMVSS certification for their fully 'by-wire' vehicle, proving their technological acumen and ability to meet regulatory requirements.

• In association with their charging partners, REE Automotive continues to ensure adequate infrastructure to support their trucks.

More details: REE Automotive IR

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