Other Private Equity/Strategic Investments
Autocomp maker Samvardhana Motherson to acquire 11% stake in Israel's REE Automotive for $15-M
BSE Announcement Economic Times
Listed auto components major Samvardhana Motherson International (SAMIL), via its wholly owned subsidiary MSSL Consolidated Inc, is acquiring a 11% stake in Israel's REE Automotive Ltd for USD 15 million. As part of the transaction, SAMIL will also be entering into a supply chain management agreement with REE to accelerate its industrialisation. It will also leverage manufacturing capabilities for components and integration for "REEcorner" module, and platform assembly to support full vehicle assembly, including assembly of 'P7 electric' trucks in the US.REE Automotive, listed on NASDAQ, is engaged in the design, development and integration of various vehicle components into a module and complete modular platform for commercial electric vehicles with applications in mid and last mile delivery.
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