Hino Motors, a subsidiary of Toyota Motor Corporation, and REE have signed a strategic business alliance agreement to realize their shared vision of “providing new value to society through next-generation commercial mobility.”
Hino and REE’s next-generation electric commercial mobility solutions are geared to improve quality of life on a global scale by lowering carbon emissions, minimizing strain on infrastructure, reducing congestion and allowing companies to better allocate resources.
“The starting point of this collaboration is the FlatFormer concept we showcased at the 2019 Tokyo Motor Show,” said Hino CEO Yoshio Shimo. “It received an excellent response, and I am delighted to see this FlatFormer concept come closer to reality. REE is a visionary company, and I am confident that this business alliance will become a driving force for Hino as we take on the challenge of generating new value in commercial mobility to harmonize with future society.”
“The FlatFormer unveiling at the 2019 Tokyo Motor Show proved to be a turning point in future electric mobility and set the stage for this exciting alliance with the visionary team at Hino. We see this alliance as a unique opportunity to fulfill our shared mission of improving quality of life for people around the world by developing and bringing to market revolutionary next-generation EVs,” said Daniel Barel, Co-Founder and CEO of REE.
The two companies will combine their advantages to realize this vision – Hino’s knowledge and technologies as a commercial vehicle manufacturer closely attuned to customer needs with REE’s innovative and highly competitive proprietary REEcornerTM EV technologies – and take on initiatives to create new value through next-generation commercial mobility solutions.
The next-generation commercial mobility solution to be jointly developed by Hino and REE will be comprised of a modular platform (Powered by REE) that will carry a customized Mobility Service Module on top. The Mobility Service Module – which will carry passengers, goods and deliver services – would address a wide variety of current and future applications aligned with customer requirements, aimed to provide new value to society, and will be enhanced with data-driven services.
The companies will first work to develop hardware prototypes by FY 2022, while evaluating business models, engaging potential customers, and conducting demonstrations in parallel.
Going forward, both companies will further evaluate opportunities of working with like-minded partners to create new value for society.