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Tech TLV

REE: The electrification of vehicles needs to go commercial

Speaking at Tech TLV, REE Co-founder and CEO Daniel Barel highlights how only 1% of vehicles are electric

James Spiro | 10:24  07.11.2021

“We tend to overlook the backbone of our economy which is commercial vehicles,” said REE Co-founder and CEO Daniel Barel when talking at Calcalist’s Tech TLV conference. “If you think about it, less than 1% of vehicles have been electrified until now... (When) we're buying more and more online, someone needs to drop it at our doorstep. We’re moving towards shared mobility and on-demand.”

Barel points out that the majority of these services are completed by commercial vehicles, not private ones. “What we believe is that yes, there is a revolution coming for electrification in private vehicles, which is great, but more importantly, predominantly, you want to focus on commercial vehicles. Think about when a major fleet, take FedEx or UPS, these guys, and when they convert to electrification. It will be major.”

You can watch the entire exchange in the video above

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