TECH FIRM SET TO CREATE 200 JOBS
£66M CENTRE AT MIRA TO DEVELOP ELECTRIC VEHICLES
UP to 200 skilled jobs are set to be created by an electric vehicle developer in Leicestershire.
Israeli tech company Ree Automotive has picked the Horiba Mira vehicle technology park, near Hinckley, as the location for a £66.4 million UK engineering centre.
It will be used to design, develop and test Ree’s radical electric vehicle platforms.
The jobs will be created over the next couple of years as the company gears up towards global mass-production.
Ree has created a system called Reecorner that puts key components such as steering, braking, suspension, powertrain and control into the arches of the wheels.
It means it can build a completely flat electric chassis that will give vehicle manufacturers the freedom to design electric and driverless cars, vans and trucks on to the chassis “of any size or shape, for any application and any target market”.
Demand for electric vehicles – and self-driving tech – is growing rapidly, with Jaguar Land Rover recently announcing its new cars will be all-electric from 2025.
The Mira site will eventually support 15 component manufacturing centres Ree is creating around the world. The platforms will then go into full production through a network of big manufacturers in 30 countries.
Tim Nathan, managing director of Mira Technology Park, said: “We are incredibly pleased to be welcoming Ree to Mira Technology Park, where it joins a cluster of companies dedicated to delivering innovative automotive products for global markets.
“Supported by Horiba Mira’s world-class attribute, vehicle engineering and testing services, Ree is well-positioned to achieve its ambitious goals.”
The new headquarters will give Ree access to Mira’s world-leading facilities, such as a £26 million track to test driverless cars at speeds of up to 155mph and the latest 5G technology to help vehicles communicate with each other and the world around them.
Mira clients already include autonomous vehicle developers such as Ford, Jaguar Land Rover and Tata Motors, newer self-driving disruptors such as Ree, and their suppliers.
Ree, which is based in Tel Aviv, is developing platforms that can be configured to different cabin designs to provide the maximum amount of room for passengers, cargo and batteries with the smallest possible footprint.
Its technology is seen as having so much potential it recently joined forces with US technology investor 10X Capital Venture Acquisition Corp. The newly combined company – which is reported to have provided Ree with about half a billion dollars – plans to go public on the Nasdaq with an estimated value of about $3.1 billion (£2.2 billion).
Daniel Barel, Ree’s co-founder and chief executive, said investing in the engineering centre just off the A5 was a “major milestone” towards bringing its technology and products to the global market.
He said the company had gained investment from global partners including Koch Strategic Platforms, Mahindra & Mahindra and Magna International, giving it the funds to push ahead with mass production.
He said the first platforms will be delivered to customers next year, with mass production starting in 2023.
Mike Charlton, Ree’s chief operating officer, who is responsible for the launch, said: “A key driver in our decision to establish our presence in the UK is the UK government’s forward-thinking vision and zero-emissions policy that perfectly aligns with Ree’s goal of heralding a more sustainable, greener future for our generation and those to come.”
■ 15 electric car charging points to be installed in borough, Page 26.