Toyota subsidiary Hino Motors Co. and the Israeli startup REE Automotive announced on Tuesday their partnership to develop electric commercial vehicles to transport people and goods.
The companies said the signing of their business agreement shows their shared vision of “providing new value to society through next-generation commercial mobility” that is 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 two companies provide vast expertise that will help their partnership: Hino obtains knowledge and technologies as a commercial vehicle manufacturer, and REE has developed innovative and highly competitive proprietary REEcornerTM EV (electric vehicle) technologies.
Their electric commercial vehicles will be comprised of a modular platform (powered by REE) that will carry on top a customized Mobility Service Module, which will hold passengers and goods, as well as deliver services. The Mobility Service Module can also be detached from the EV platform and serve as an independent unit that can operate separately and continue to its next project.
The companies will work to develop hardware prototypes by 2022.
Hino CEO Yoshio Shimo said, “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.”
“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.