PFLUGERVILLE, Texas - REE Automotive, an electric vehicle technology company, is opening its first North American headquarters and integration center in Pflugerville. It comes after the Pflugerville City Council approved an economic development performance agreement between the Pflugerville Community Development Corporation (PCDC) Board of Directors and REE Automotive during the city council regular meeting on March 22.
The company says it is establishing a long-term presence in Texas to capitalize on the growing market demand for electronic vehicles or EVs in North America. The North American headquarters and integration center is expected to produce REEcornersTM and modular platforms. REE’s offices will be located in a nearly 120,000-square-foot facility located in the One Thirty Business Park at Pecan and SH130 in Pflugerville.
The eight-year agreement, previously approved by the PCDC board on March 16, provides up to $1 million in grants based on REE investing $24.75 million, expanding into the nearly 120,000-square-foot facility, and employing at least 125 full-time jobs throughout the eight-year term. The $24.75 million investment includes the value of the lease agreement over eight years and capital expenditures.
"REE’s North American headquarters and Integration Center is an excellent fit for our diverse and talented workforce, expands autonomous and electric car technology in the Austin region, and provides growth opportunities for the State of Texas electric vehicle industry as a whole," said Amy Madison, PCDC Executive Director, in a news release. "REE’s research and development capabilities will further define the Austin region as an EV high-tech manufacturing hub."
In addition to the jobs grant, PCDC will assist REE in obtaining skill development funds and other workforce grants to provide the community with training opportunities in electric vehicle components.
REE is headquartered in Israel and is an automotive technology leader whose mission is to empower companies to build any size or shape of electric or autonomous vehicle, from Class 1 through Class 6, for any application and any target market.