REE Automotive
- 🦄Became a unicorn2021
- 📈Peak valuation$3.1 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$31M
How it happened
REE Automotive is an Israeli electric-vehicle technology company built around a modular 'REEcorner' design that packs steering, braking, suspension and drive into the wheel corners, enabling flat, software-controlled EV skateboard chassis for commercial vehicles. It went public on the Nasdaq in February 2021 via a SPAC merger with 10X Capital at an enterprise value of about $3.1B, riding the EV-SPAC boom. But it generated almost no revenue while burning cash on development, and its shares collapsed more than 99%; by late 2025 the company was worth around $20M and facing delisting from the Nasdaq over its sub-$1 share price.
Source: BusinessWire / Macrotrends / Nasdaq (Israeli EV-platform startup behind the modular 'REEcorner' skateboard chassis; Feb 2021 SPAC merger with 10X Capital at a ~$3.1B enterprise value; minimal revenue and heavy cash burn; market cap ~$20M by late 2025, facing Nasdaq delisting)
