08:54 AM EDT, 03/18/2025 (MT Newswires) -- REE Automotive ( REE ) said Tuesday it signed a non-binding memorandum of understanding with an unnamed technology company to develop and produce thousands of autonomous vehicles based on its P7 platform.

The company said they plan to sign a strategic agreement by the end of 2025, and the collaboration is projected to generate up to $770 million in revenue by 2030.

Under the partnership, the company said it will integrate its FMVSS-certified P7 platform and next-gen software technology for a fast market launch, with the first production vehicles expected by as early as 2027.