REE Automotive Announces Strategic Collaboration with JB Poindexter & Co Business Unit, EAVX, to Develop Commercial Electric Vehicles

REE Automotive (REE), a leader in e-Mobility, which is in the process of
closing its merger with 10X Capital Venture Acquisition Corp. (NASDAQ:
VCVC), today announced a strategic collaboration with EAVX, a wholly owned
business unit of JB Poindexter & Co (JBPCO). The JB Poindexter business
enterprise includes commercial work truck bodies and accessory industry
leaders Morgan Olson, Morgan Corporation, Reading, Truck Accessories Group,
and Masterack. REE and EAVX will collaborate to develop best-in-class,
zero-emission, commercial EV work trucks for existing and new customers that
will integrate the REEcornersT and JBPCO commercial vehicle body solutions.
REE and EAVX will also collaborate to grow their joint customer base and
bring EVs to North America markets that will be ‘Powered by REE.’

REEcorner technology packs critical vehicle components such as the motor,
steering, braking, suspension, powertrain, and control into a single compact
module positioned between the wheel and the chassis. This enables a
fully-flat EV platform, enabling the lowest step-in height, and maximum
payload capacity for transporting cargo and passengers with more room for
batteries for extended range.

“The JB Poindexter & Co is the leader in commercial work truck bodies and
accessories. They are the ideal partner to help propel EV adoption in the
commercial market segment,” said Daniel Barel, REE Co-Founder and CEO. “This
collaboration is an important step forward for REE’s business growth – and
for improving livability and quality of life by eliminating carbon
emissions. REE is dedicated to partnering with manufacturers that will push
boundaries, and this collaboration helps put us on the fast track to
fulfilling our vision of serving as the cornerstone of next-gen EVs ‘Powered
by REE.’

“JB Poindexter & Co understands the EV revolution is here. As more companies
across all sectors make the transition to electric mobility, the need for
customizable commercial EVs grows and we want partners to know we are ready
as a collaborator. The REEcorner technology provides unique opportunities to
optimize the commercial fleet experience.” said John Poindexter, CEO and
Chairman.

About REE Automotive
REE is an automotive technology leader creating the cornerstone for
tomorrow’s zero-emission vehicles. REE’s mission is to empower global
mobility companies to build any size or shape of electric or autonomous
vehicle for any application and any target market. Our revolutionary,
award-winning REEcornerT technology packs traditional vehicle drive
components (steering, braking, suspension, powertrain and control) into the
arch of the wheel, allowing for the industry’s flattest EV platform.
Unrestricted by legacy thinking, REE is a truly horizontal player, with
technology applicable to the widest range of target markets and
applications. Fully scalable and completely modular, REE offers multiple
customer benefits including complete vehicle design freedom, more space and
volume with the smallest footprint, lower TCO, faster development times,
ADAS compatibility, reduced maintenance and global safety standard
compliance.

Headquartered in Tel Aviv, Israel, with subsidiaries in the USA, the UK and
Germany. REE has a unique CapEx-light manufacturing model that leverages its
Tier 1 partners’ existing production lines. REE’s technology, together with
its unique value proposition and commitment to excellence, positions REE to
break new ground in e-Mobility. For more information visit
https://ree.auto/.

ABOUT EAVX
EAVX, the newest business unit of JB Poindexter & Co, collaborates with the
most advanced electric and alternative power chassis producers, allowing
chassis partners to focus on their revolutionary and proprietary
technologies. EAVX and the individual business units of JBPCO are the
integration bodybuilders of choice for chassis producers serving present and
future EV and alternative fuel markets and advanced vehicle technology
markets. Visit jbpoindexter.com/eavx for more information.