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BUZZ-REE Automotive rises on $45 mln fund raise, Motherson tie-up

Reuters · 3d ago

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BUZZ-REE Automotive rises on $45 mln fund raise, Motherson tie-up

** Shares of Israeli electric truck maker REE Automotive REE.O rise 15.6% to $3.42 in morning trading

** Company raises more than $45 mln in funding round, which includes Indian auto parts major Samvardhana Motherson SAMD.NS

** Transaction gives Motherson a 19% stake in REE, and a board seat

** Existing investor M&G Investments gets 16% stake in REE for a $20 mln investment

** REE also signs a supply-chain partnership with Motherson

** Motherson will manage sourcing and supply chain logistics for all REE's vehicle parts, and support assembly of two electric truck models

** Up to Friday's close, stock had fallen 42.3% this year

(Reporting by Rishi Kant in Bengaluru)

((Rishi.Kant@thomsonreuters.com))

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