Ultime notizie per REE Automotive (NASDAQ:REE) Azioni

REE Automotive

REE Automotive Ltd is an automotive technology company focused on building commercial electric vehicles controlled fully by-wire. The company is developing REEcorner technology which packs critical vehicle components into a single compact module positioned between the chassis and the wheel as well as building commercial Electric Vehicles (EV) leveraging REEcorner technology. The company has geographical preference in Israel, Germany, United States, United Kingdom, and other regions.

REE Automotive Ltd. - Class A Ordinary Shares

REE Automotive Ltd

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<h3>Gainers</h3>
<ul>
<li>Connexa Sports Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) shares rose 36.7% to $5.62 during Wednesday's regular session. The company's market cap stands at $36.1 million. </li>
<li>REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares moved upwards by 20.69% to $8.13. The market value of their outstanding shares is at $88.0 million. </li>
<li>Container Store Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TCS#NYSE">TCS</a>) stock rose 18.45% to $12.67. The company's market cap stands at $43.5 million. </li>
<li>Mondee Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOND#NASDAQ">MOND</a>) shares moved upwards by 17.39% to $1.35. The company's market cap stands at $118.0 million. </li>
<li>MEDIROM Healthcare Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRM#NASDAQ">MRM</a>) shares increased by 16.99% to $4.2. The company's market cap stands at $20.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Jiade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) stock decreased by 25.2% to $0.83 during Wednesday's regular session. The market value of their outstanding shares is at $20.2 million. </li>
<li>Children's Place (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLCE#NASDAQ">PLCE</a>) stock declined by 21.99% to $10.95. The market value of their outstanding shares is at $139.3 million. </li>
<li>JX Luxventure (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JXJT#NASDAQ">JXJT</a>) shares declined by 20.18% to $1.44. The company's market cap stands at $8.7 million. </li>
<li>Digital Brands Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBGI#NASDAQ">DBGI</a>) stock declined by 19.57% to $0.18. </li>
<li>Ambow Education Holding (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#AMEX">AMBO</a>) stock decreased by 13.07% to $1.73. The company's market cap stands at $4.9 million. </li>
<li>Algorhythm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIME#NASDAQ">RIME</a>) shares decreased by 12.38% to $0.4. The company's market cap stands at $3.8 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Connexa Sports Technologies Inc. - Common Stock

YYAI

11 Consumer Discretionary Stocks Moving In Wednesday's Intraday Session

HC Wainwright &amp; Co. analyst Amit Dayal reiterates REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) with a Buy and maintains $15 price target.

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Analyst Ratings

HC Wainwright & Co. Reiterates Buy on REE Automotive, Maintains $15 Price Target

REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) reported quarterly losses of $(0.97) per share which beat the analyst consensus estimate of $(1.51) by 35.76 percent. This is a 1285.71 percent decrease over losses of $(0.07) per share from the same period last year.

Earnings

Earnings Beats

REE Automotive Q2 Adj $(0.97) Beats $(1.51) Estimate, Company Ends Q2 With Liquidity Of $60.5M

REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares are trading higher on Monday after the company announced it selected Roush Industries to assemble REE&#8217;s P7 vehicles at Roush&#8217;s Detroit-area factory, which has an annual capacity of up <a href="https://www.benzinga.com//node/40981413">to 5,000 vehicles</a>.
The Details: Assembly of the P7 electric trucks will begin in the 2024 fourth quarter. The vehicles feature a flat vehicle base that offers up to 35% more space for cargo, passengers and batteries. In addition, the truck has the industry&#8217;s lowest step-in height.
&#8220;We chose to work with Roush because of their proven capabilities and expertise in the commercial EV market, their capacity to scale production, and their understanding of our unique business model, which is to build our vehicles to order, not for inventory,&#8221; said Josh Tech, COO of REE. 
&#8220;We want to get our trucks in the hands of our customers as soon as possible, while not sacrificing on quality, making sure our customers can count on us as they build their electric commercial fleets. By partnering with Roush, we can concentrate on our core technology and production of the REEcorners while optimizing production costs and reducing go to market times benefiting from their nearly 40-year track record of engineering and manufacturing spans from NASCAR, to lunar terrain vehicles, to the most innovative EVs.&#8221;&nbsp;
How To Buy REE Automotive Shares
By now you're likely curious about how to participate in the market for REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>), which is trading at $6.15 as of publishing time, $100 would buy you 16.26 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
See Also: <a href="https://www.benzinga.com/news/24/09/40971831/putin-ally-who-unveiled-tesla-cybertruck-with-machine-gun-last-month-now-says-elon-musk-remotely-dis">Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Last Month Now Says Elon Musk &#8216;Remotely Disabled&#8217; The Militarized EV</a>
REE Price Action: At the time of writing, REE Automotive stock is trading 4.86% lower at $6.04 per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Image via Pexels

What's Going On With REE Automotive Shares Monday?

WIIM

REE Automotive shares are trading higher after the company announced that it selected Roush Industries to assemble P7 vehicles at Roush's Detroit-area factory.

<ul>
<li>Production of P7 electric truck line-up to begin Q4 2024 at Roush's facility in Detroit, Michigan, with annual capacity of up to 5,000 trucks. &nbsp;</li>
<li>Motherson to manage global supply chain and logistics for U.S. production as well as on-site manufacturing and quality assurance support via Motherson SAS in Detroit.</li>
<li>Faster production ramp up, improved unit costs, and accelerated road to free-cash flow generation are expected.</li>
<li>Customers have begun securing production slots.</li>
</ul>
TEL AVIV, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Marking a significant milestone on its path to electrifying fleet vehicles across North America, <a href="https://www.globenewswire.com/Tracker?data=MFG5Eh0agCKBnZUPhm5FDLVb7p3sQvo0l_DhfAt0YDzAreuFwewdyvgbX-Sn3PBFkSAeqV5TAPkt8qmCSRvqJA==">REE Automotive Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has selected <a href="https://www.globenewswire.com/Tracker?data=8mg4JulcrcTcAPtOsP30OJ65LzHqL3uDXZinpMs9a2C0NJ-ifQUyIfFWMigrJhlcIvHY7pzgyyezNryRWKlvUA==">Roush Industries</a>, a leading innovative vehicle contract manufacturer, to assemble REE's P7 vehicles at Roush's Detroit-area factory. REE will continue to manufacture its proprietary REEcorner&#xAE; technology in its UK Coventry Integration Center. With a focus on speed to market and impeccable build quality, Roush's assembly team unites decades of design, engineering, machining, fabrication, testing, manufacturing, and supply chain expertise to deliver a scalable process for REE. Roush will be supported onsite by a joint REE and Motherson team, who will be responsible for overall quality assurance, logistics, and testing.
Roush, as U.S. contract manufacture for the P7 lineup, will be responsible for the assembly of full vehicles according to REE's requirements. REE's software-defined electric trucks will be assembled at Roush's Detroit based site specifically chosen for REE's requirements and designed to have a yearly capacity of up to 5,000 trucks. Motherson, a leading global automotive part supplier with whom REE signed a strategic agreement, will manage global supply chain and logistics targeting cost reduction, improved unit economics and higher margines.
REE's P7 electric commercial trucks line-up is built on top of four REEcorners&#xAE; featuring REE's disruptive x-by-wire technology. REEcorners&#xAE; pack critical vehicle components into the area between the chassis and the wheel, enabling a fully flat electric chassis end-to-end with up to 35% more interior volume for passengers, cargo and batteries. Electric vehicles built on the P7 chassis have the industry's lowest step-in height, are autonomous ready, and can be powered by either batteries or fuel cells. The P7 is well established with a network of 78 service and sales locations through 24 authorized dealers across North America with potential access to over 200 fleets in the U.S. and Canada.

REE Automotive Kick-Off U.S. Production With Roush Industries As Contract Manufacturer; Production Of P7 Electric Truck Line-Up To Begin Q4 2024 At Roush's Facility In Detroit, Michigan, With Annual Capacity Of Up To 5,000 Trucks

REE Automotive Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) shares are trading higher after it announced<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40876809/ree-automotive-announces-global-manufacturing-agreement-with-leading-automotive-supplier-motherson" rel="noreferrer noopener"> a strategic deal with </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40876809/ree-automotive-announces-global-manufacturing-agreement-with-leading-automotive-supplier-motherson" rel="noreferrer noopener">Motherson Group</a>.
REE Automotive has secured $45.35 million from investors, including M&amp;G Investments and Motherson, through a direct offering of 11 million Class A shares at $4.122 each.
The proceeds are expected to support general working capital, and the offering is set to close by September 19, 2024, pending standard conditions.
REE&#8217;s largest shareholder M&amp;G Investments led the $45.35 million investment in REE Automotive with $20 million, followed by Motherson&#8217;s $15 million. Post-offering, M&amp;G will hold approximately 16% of REE&#8217;s issued and outstanding ordinary shares; Motherson will hold approximately 19% on a non-diluted basis and, similarly, Varana Capital 8%.
As per the deal, Motherson will handle sourcing and supply chain management for all production parts and support the assembly of REE&#8217;s REEcorner and REE P7 electric trucks.
This collaboration with Motherson will enhance REE&#8217;s production capabilities and industry relationships, supporting its expansion and meeting rising demand for its unique software-driven medium-duty electric trucks, expected to play a significant role in the transition to electric fleets worldwide.
Motherson, a major automotive supplier, will also appoint a director to REE&#8217;s board.
REE Co-founder and CEO, Daniel Barel, said, &#8220;Motherson&#8217;s global footprint and manufacturing prowess combines perfectly with REE&#8217;s technology and innovation mindset. This combination will benefit our customers and investors alike, by pushing forward the transition towards electrification and carbon neutrality.&#8221;
As of March 31, 2024, REE&#8217;s cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g39081137/ree-automotive-reports-first-quarter-2024-financial-results-deliveries-to-customers-have-begun-inc" rel="noreferrer noopener">equivalents stood at $77.5 million</a>.
Price Action: REE shares are up 36% at $4.032 at the last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com//node/40881893" target="_blank" rel="noreferrer noopener">Walgreens Agrees To $106.8M Settlement Over Alleged False Billing Claims</a></li>
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Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a target="_blank" href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!

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REE Automotive Revs Up With Cash Infusion And Strategic Alliance With Motherson: Details

REE Automotive shares are trading higher after announcing an agreement with Motherson Group where they will manage sourcing and the supply chain of all production parts and support assembly of Ree. Also, Motherson Group will make a $45.35 million registered direct offering investment in the company.

Financing

REE Automotive Announces Agreement With Motherson Group, Pursuant To Which Motherson Will Manage Sourcing And Supply Chain Of All Production Parts And Support Assembly Of REEcorner And REE P7 Trucks; REE Priced $45.35M Registered Direct Offering

Workhorse Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wkhs#NASDAQ">WKHS</a>) came out with a quarterly loss of $1.40 per share in line with the Zacks Consensus Estimate. This compares to loss of $2.40 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this truck and drone manufacturer would post a loss of $1.60 per share when it actually produced a loss of $2, delivering a surprise of -25%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Workhorse, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $0.84 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 71.93%. This compares to year-ago revenues of $3.97 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Workhorse shares have lost about 83.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 17.6%.
<h2>What&#39;s Next for Workhorse?</h2>
While Workhorse has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Workhorse: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.40 on $7.5 million in revenues for the coming quarter and -$6 on $25 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, REE Automotive Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ree#NASDAQ">REE</a>), is yet to report results for the quarter ended June 2024.
This company is expected to post quarterly loss of $1.45 per share in its upcoming report, which represents a year-over-year change of +31%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
REE Automotive Ltd.&#39;s revenues are expected to be $0.6 million, down 36.2% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2324420/workhorse-group-wkhs-reports-q2-loss-lags-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2324420">To read this article on Zacks.com click here.</a>

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Workhorse Group Reports Q2 Loss, Lags Revenue Estimates

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Shares of companies within the broader consumer discretionary sector are trading lower amid overall market weakness following US economic concerns. An economic slowdown could impact consumer spending.

REE Automotive Ltd.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ree#NASDAQ">REE</a>) came out with a quarterly loss of $1.96 per share versus the Zacks Consensus Estimate of a loss of $1.81. This compares to loss of $2.40 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -8.29%. A quarter ago, it was expected that this company would post a loss of $2.32 per share when it actually produced a loss of $3.11, delivering a surprise of -34.05%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
REE Automotive, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $0.16 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 60%. This compares to zero revenues a year ago.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
REE Automotive shares have lost about 8.6% since the beginning of the year versus the S&amp;P 500&#39;s gain of 10.4%.
What&#39;s Next for REE Automotive?
While REE Automotive has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for REE Automotive: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$1.72 on $0.6 million in revenues for the coming quarter and -$6.42 on $9.72 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, ChargePoint Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chpt#NYSE">CHPT</a>), is yet to report results for the quarter ended April 2024. The results are expected to be released on June 5.
This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
ChargePoint Holdings, Inc.&#39;s revenues are expected to be $106.09 million, down 18.4% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2281109/ree-automotive-ltd-ree-reports-q1-loss-lags-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2281109">To read this article on Zacks.com click here.</a>

CHPT

REE Automotive Ltd. Reports Q1 Loss, Lags Revenue Estimates

<div>The company said that Penske Truck Leasing begins to offer Powered by REE&reg; Electric Vehicles to its customers.&nbsp;U-Haul received&nbsp;Powered&nbsp;by&nbsp;REE&nbsp;electric&nbsp;platform&nbsp;and is evaluating it as the first solution to support the electrification&nbsp;of&nbsp;its&nbsp;fleet. Airbus and REE collaborate on an autonomous program utilizing REE&#39;s P7-C full by-wire and autonomous-ready technology, which opens REE to new autonomous driving markets.</div>

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European Aeronautic Defence And Space Unsponsored

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REE Automotive Confirms Deliveries To Customers Have Begun Including Penske, U-Haul, And Airbus

REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) reported quarterly losses of $(1.96) per share which missed the analyst consensus estimate of $(1.60) by 22.5 percent. This is a 18.67 percent increase over losses of $(2.41) per share from the same period last year. The company reported quarterly sales of $160.00 thousand which missed the analyst consensus estimate of $550.00 thousand by 70.91 percent.

REE Automotive Q1 Adj $(1.96) Misses $(1.60) Estimate, Sales $160.00K Miss $550.00K Estimate

Airbus&nbsp;SE&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>) is&nbsp;<a target="_blank" href="https://www.airbus.com/en/newsroom/press-releases/2024-05-new-pilot-assistance-technologies-take-to-the-road-with-airbus" rel="noreferrer noopener">showcasing&nbsp;</a>its Optimate demonstrator vehicle at VivaTech, Europe&#8217;s largest technology event, aiming to enhance airport safety.
The converted electric truck, fitted with basic A350 airliner controls, demonstrates how automated taxiing could mitigate ground collision risks, reported&nbsp;Reuters.
&#8220;Our ambition is to use the best technologies to make our aircraft even more aware of their operating conditions, analysing it in as much detail as possible to become smart and reliable assistants to pilots, providing them with the optimal assistance. We are confident that this project will contribute to safer and more efficient air travel,&#8221; said Michael Augello, CEO&nbsp;Airbus&nbsp;UpNext.
Also See:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/39000948/singapore-airlines-alters-policies-flight-route-after-fatal-turbulence-incident-that-killed-one" rel="noreferrer noopener">Singapore Airlines Alters Policies, Flight Route After Fatal Turbulence Incident That Killed One</a>
The truck can be operated manually or controlled by aircraft systems, with sensors tracking&nbsp;warning lines and obstacles to navigate to specific locations.
Airbus refrains from linking its research to specific incidents, but comparisons&nbsp;are drawn&nbsp;to a recent collision in Tokyo involving a landing A350 and a&nbsp;coast guard&nbsp;plane, the report mentioned.
Similar ground collisions include a Virgin Atlantic jet hitting a British Airways plane and two&nbsp;JetBlue Airways Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) planes colliding at Boston Logan, both currently under regulatory review.
Airbus hopes the demonstration at VivaTech will illustrate how automation can maneuver large jets through crowded airports&nbsp;safely.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38610474/airbus-demands-compensation-to-acquire-spirit-operations-report" rel="noreferrer noopener">Airbus Demands Compensation To Acquire Spirit Operations: Report</a>
The report specified that these low-speed ramp incidents, though rarely fatal, are increasingly costly and disruptive for airlines and passengers. The hybrid research platform, developed in collaboration with Israeli electric vehicle maker&nbsp;Ree Automotive&nbsp;Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>), is part of a three-year &#8220;Optimate&#8221; project.
The truck will undergo testing at live airports, potentially leading to further tests on an A350-1000 aircraft.
Despite the challenges of certifying new systems, Airbus stresses that pilots will continue to play a crucial role, with automation designed to reduce pilot error but not fully autonomous.
Price Action: EADSY shares traded lower by 0.40% at $43.08&nbsp;at the last check Friday.
Disclaimer:&nbsp;This content was partially produced&nbsp;with the help of&nbsp;AI tools and&nbsp;was&nbsp;reviewed and published by Benzinga editors.
Related Read: <a href="https://www.benzinga.com/m-a/24/05/38894593/spirit-aerosystems-to-lay-off-hundreds-as-boeing-struggles-with-production" target="_blank" rel="noreferrer noopener">Spirit AeroSystems To Lay Off Hundreds As Boeing Struggles with Production</a>
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On The Road To Safer Skies: Airbus Tests Next-Gen Tech For Smarter Taxiing And Enhanced Flight Safety

Roth MKM&nbsp;analyst Craig Irwin initiated coverage on&nbsp;REE Automotive Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) at a Buy rating&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/REE/analyst-ratings" rel="noreferrer noopener">with a price target of $14</a>.
The analyst writes that REE&nbsp;is positioned&nbsp;to serve billion-dollar markets and catalysts in 2H24 likely confirm customer interest and adoption.
The analyst says that management developed the REEcorner to facilitate the adoption of x-by-wire and electric drivetrain technology in Class 3-5 trucking markets, which enables cost efficiencies, format flexibility, and improved safety.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38838012/exclusive-ree-partners-with-penske-to-launch-p7-c-ev-trucks-enhancing-fleet-electrification-options" rel="noreferrer noopener">EXCLUSIVE: REE Partners with Penske to Launch P7-C EV Trucks, Enhancing Fleet Electrification Options</a>
The analyst estimates 2024 cash use at around $75 million and notes ~$14.5 million in cash raised to date in 2024.
Irwin says that REE should execute on an initial revenue ramp in FY24 with positive gross margins in mid-FY25 and positive adjusted EBITDA in FY26.&nbsp;
The analyst estimates&nbsp;that a&nbsp;significant revenue ramp going into FY25&nbsp;which&nbsp;reflects a move into volume production near the end of FY24.&nbsp;
The analyst expects delivery of 50 vehicles in FY24, rising to 1,050 and 4,100&nbsp;vehicles&nbsp;in FY25 and FY26, respectively.&nbsp;
In March, REE reported fourth-quarter FY23 sales growth of 116% Q/Q to $455,000,&nbsp;missing the analyst&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37958171/why-is-ree-automotive-stock-trading-lower-today" rel="noreferrer noopener">consensus estimate of $1.35 million</a>.
Price Action: REE shares are up 8.41% at $5.11 at the last check Friday.

Initiation

REE Automotive: Electrifying The Truck Stop? Analyst Bullish On EV Platform

Roth MKM analyst Craig Irwin initiates coverage on REE Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) with a Buy rating and announces Price Target of $14.

Roth MKM Initiates Coverage On REE Automotive with Buy Rating, Announces Price Target of $14

REE Automotive Says P7-C Electric Trucks And Platforms Approved For $30,000 Incentive Per Vehicle In Massachusetts

REE Automotive Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>) announced Wednesday that &nbsp;Penske Truck Leasing&nbsp;will begin offering Powered by REE EVs to its customers interested in electrifying their fleets for demos and orders, adding further momentum to REE&#8217;s current $50 million order book value.&nbsp;
REE Auto said Penske&#8217;s customers will have the opportunity to experience the intended benefits of the world&#8217;s first U.S. Federal Motor Vehicle Safety Standards (FMVSS) certified, software-driven, electric vehicle powered by REEcorner full by-wire technology, including:&nbsp;
<ul>
<li>Superior maneuverability and all-wheel drive functionality</li>
<li>Enhanced safety with fail-operational design via redundancies in hardware and software</li>
<li>Driver-centric cabin with excellent ergonomics and low chassis height</li>
<li>REEcorners designed for serviceability for a low total cost of ownership (TCO)</li>
<li>Strong residual values</li>
<li>Future-proofed, autonomous-ready and over-the-air (OTA) upgrade capable</li>
<li>Modular design and quick time to market</li>
<li>Optimal energy efficiency</li>
</ul>
Daniel Barel, CEO and co-founder of REE Automotive, said, &#8220;We are currently working on additional P7-C configurations to maximize utilization within Penske&#8217;s large product offering,&#8221;
REE collaborated with&nbsp;Wabash National Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNC#NYSE">WNC</a>) to&nbsp;upfit&nbsp;the P7-C with a custom DuraPlate truck body utilizing the unique low floor, all-wheel steer, all-wheel drive full-by-wire P7-C characteristics.&nbsp;
Wabash&#8217;s DuraPlate technology&#8217;s lightweight properties enhance the feasibility of electric chassis for fleets while maintaining durability.&nbsp;
Vehicles Powered by REE are&nbsp;upfit-ready and designed to offer considerable benefits for body installations, including:
<ul>
<li>No Drill: Integrated mounting weld nuts so that bodies can be secured directly to frame rails</li>
<li>Battery Maintenance: Accessible from under the chassis</li>
<li>Flat Floor with integrated ramp: Structural advantages and weight savings by reducing the need for additional body mounting kits, and independent suspension to reduce body stresses. The ramp takes advantage of the low-floor box configuration.</li>
<li>Electrical Integration: Plug-and-play chassis harnesses for aftermarket electrical and ADAS systems</li>
<li>Driver Assistance Systems: Seamless integration of third-party systems; camera images can be viewed directly on the infotainment screen.</li>
</ul>
Price Action: REE shares closed higher by 4.26% at $4.65 on Tuesday.
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Market-Moving Exclusives

Exclusives

EXCLUSIVE: REE Partners with Penske to Launch P7-C EV Trucks, Enhancing Fleet Electrification Options

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REE Automotive Ltd. (REE) Q2 2024 Earnings Call Transcript

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Press Releases

REE Automotive to Report First Quarter 2024 Financial Results on May 30, 2024

REE Unveils a Next Gen Software-Driven Electric Commercial Vehicle Platform Designed with Leading Delivery Fleet

REE Automotive Reports First Quarter 2024 Financial Results: Deliveries to Customers Have Begun Including to Penske, U-Haul and Airbus

Serve Robotics Announces Nomination of David Goldberg to its Board of Directors

Over 50,000 Government and Education Entities Can Now Purchase REE's Software-Defined Electric Truck Through Sourcewell Contract

REE Automotive Announces Global Manufacturing Agreement with Leading Automotive Supplier Motherson Group Making Strategic Investment in a $45.35 Million Registered Direct Offering Led By M&G

Shares of Auto Technology Company Spike on New Agreement

REE Automotive to Report Second Quarter 2024 Financial Results on September 26, 2024

REE Automotive Kick-Off U.S. Production With Roush Industries as Contract Manufacturer

REE Automotive Provides Corporate and Business Updates and Reports Second Quarter 2024 Financial Results

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