Toyota's subsidiary Hino Motors and REE Automotive signed a strategic business alliance agreement to realise their shared vision of providing new value to society through next-generation commercial mobility.
The electric commercial mobility solutions to be developed by both companies aim to improve quality of life on a global scale by lowering carbon emissions, minimising strain on infrastructure, reducing congestion and allowing companies to allocate resources better. The two companies will combine their advantages to realise this vision. Accordingly, Hino's knowledge and technologies as a commercial vehicle manufacturer will amalgamate with REE's innovative and proprietary REEcorner EV technologies.
The vehicles developed by these companies will be a modular platform powered by REE. It will carry a customised Mobility Service Module, which will address a wide variety of current and future applications aligned with customer requirements. It will further be enhanced with data-driven services. In addition, the Mobility Service Module can be easily detached from the EV platform and can serve as an independent, stand-alone unit - making services and goods easily accessible to society, leaving the platform to be operated separately and continue on its next mission. It will be applied as Mobility-as-a-Service (MaaS) and delivery segments and offer solutions for completely new applications. The solution will boast a low-floor, full-flat design that flexibly meets customer needs and also supports autonomous driving.
The companies will first work to develop hardware prototypes by FY 2022, while evaluating business models, engaging potential customers, and conducting demonstrations in parallel.
Yoshio Shimo, CEO, Hino Motors, said, 'The starting point of this collaboration is the FlatFormer concept we showcased at the 2019 Tokyo Motor Show. 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 harmonise with future society.'
Daniel Barel, Co-Founder and CEO, REE Automotive, said, 'We see this alliance as a unique opportunity to fulfil our shared mission of improving quality of life for people around the world by developing and bringing to market revolutionary next generation EVs. Going forward, both companies will further evaluate opportunities of working with like-minded partners with the goal of creating new value for society.'