+
Samvardhana Motherson Invests in REE Automotive
POWER & RENEWABLE ENERGY

Samvardhana Motherson Invests in REE Automotive

Samvardhana Motherson International (SAMIL), through its wholly-owned subsidiary MSSL Consolidated, is acquiring up to 3.64 million Class A shares in Israel-based e-mobility company REE Automotive for $4.122 per share, totaling a $15 million investment. This purchase translates to an 11% stake on a fully diluted basis and up to 19% on a non-diluted basis in REE Automotive. The transaction is expected to finalize within 30 days.

REE Automotive specializes in designing, developing, and integrating vehicle components into a modular platform for commercial electric vehicles (EVs), primarily targeting mid and last-mile delivery applications. The company operates manufacturing facilities in Coventry, UK, and Austin, Texas, US. REE reported a turnover of $1.6 million in 2023.

In addition to the equity investment, SAMIL will enter into a supply chain management agreement with REE Automotive. This agreement will allow SAMIL to manage the entire supply chain, including sourcing, managing, and integrating modules for REE. SAMIL has already secured orders for approximately 600 trucks from original equipment manufacturers, with execution planned by 2025.

In 2021, REE Automotive received $17 million in funding from the UK government as part of a broader $57 million investment coordinated by the Advanced Propulsion Center, supporting the UK’s goal to promote zero-emission vehicles and decarbonize its transport network.

In India, electric vehicle sales reached a record 1.53 million units in 2023, marking over a 50% increase from the previous year. EVs accounted for 6.4% of total automobile sales, according to the Ministry of Road Transport and Highways. Globally, the number of EVs is projected to surpass 100 million by 2026 and reach 700 million by 2040, reflecting significant growth from the 27 million registered at the beginning of 2023, according to BloombergNEF.

Samvardhana Motherson International (SAMIL), through its wholly-owned subsidiary MSSL Consolidated, is acquiring up to 3.64 million Class A shares in Israel-based e-mobility company REE Automotive for $4.122 per share, totaling a $15 million investment. This purchase translates to an 11% stake on a fully diluted basis and up to 19% on a non-diluted basis in REE Automotive. The transaction is expected to finalize within 30 days. REE Automotive specializes in designing, developing, and integrating vehicle components into a modular platform for commercial electric vehicles (EVs), primarily targeting mid and last-mile delivery applications. The company operates manufacturing facilities in Coventry, UK, and Austin, Texas, US. REE reported a turnover of $1.6 million in 2023. In addition to the equity investment, SAMIL will enter into a supply chain management agreement with REE Automotive. This agreement will allow SAMIL to manage the entire supply chain, including sourcing, managing, and integrating modules for REE. SAMIL has already secured orders for approximately 600 trucks from original equipment manufacturers, with execution planned by 2025. In 2021, REE Automotive received $17 million in funding from the UK government as part of a broader $57 million investment coordinated by the Advanced Propulsion Center, supporting the UK’s goal to promote zero-emission vehicles and decarbonize its transport network. In India, electric vehicle sales reached a record 1.53 million units in 2023, marking over a 50% increase from the previous year. EVs accounted for 6.4% of total automobile sales, according to the Ministry of Road Transport and Highways. Globally, the number of EVs is projected to surpass 100 million by 2026 and reach 700 million by 2040, reflecting significant growth from the 27 million registered at the beginning of 2023, according to BloombergNEF.

Next Story
Infrastructure Energy

L&T to Build India’s Largest Green Hydrogen Plant for IOCL

The plant will be developed on a build-own-operate (BOO) model and will supply 10,000 tonnes of green hydrogen annually to IOCL for a period of 25 years. It will operate entirely on renewable energy, aligning with IOCL’s decarbonisation goals and India’s broader net-zero ambitions.Green hydrogen at the plant will be produced using high-pressure alkaline electrolysers manufactured at L&T Electrolysers Ltd’s facility in Hazira, Gujarat. This initiative further showcases L&T’s commitment to localised, self-reliant clean-tech solutions under the Aatmanirbhar Bharat mission.LTEG’s..

Next Story
Infrastructure Urban

Bansal Wire Q1 Profit Rises 24.6% to Rs 393 Mn

Bansal Wire Industries, India’s largest stainless steel wire manufacturer and second-largest steel wire maker by volume, reported a 24.6 per cent year-on-year rise in net profit to Rs 393 million for the quarter ended June 30, 2025 (Q1 FY26).During the quarter, revenue rose 14.9 per cent YoY to Rs 9,390 million, while EBITDA increased by 19.6 per cent YoY to Rs 745 million, reflecting the company's strong operational performance and focus on value-added segments.According to Pranav Bansal, MD & CEO of Bansal Wire Industries, the company has started FY26 on a strong note, building on the ..

Next Story
Infrastructure Urban

Lemon Tree Opens Keys Lite Hotel in Banswara, Rajasthan

Lemon Tree Hotels has launched its latest property, Keys Lite by Lemon Tree Hotels, Banswara, further expanding its footprint in Rajasthan. This marks the group’s 11th operational hotel in the state and continues its focus on providing quality stays in emerging travel destinations.The newly launched managed hotel features 54 well-appointed rooms, a multi-cuisine restaurant – Keys Café, a fitness centre, and spacious banquet and conference facilities, catering to both leisure and business travellers.Located in southern Rajasthan, Banswara is known as the “City of Hundred Islands” for t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?