REE Automotive shares surge 11.68% intraday on strategic partnerships with Mitsubishi Fuso and Cascadia Motion for SDV technology collaborations.

REE Automotive surged 11.68% intraday following the announcement of strategic partnerships and operational progress. The company secured a 180-day Nasdaq extension to meet the $1 bid price requirement, alleviating delisting concerns, while disclosing collaborations with BorgWarner’s Cascadia Motion and Mitsubishi Fuso to develop electric drive units and software-defined vehicle technology. These partnerships, including a binding agreement with a leading tech firm to generate up to $107 million over two years, signaled market validation of REE’s technology. Additionally, cost-cutting measures reduced monthly operating expenses by 70% compared to H1 2025, reinforcing financial discipline. The combination of renewed listing compliance time, partnership potential, and operational efficiency likely drove investor optimism, propelling the intraday rally.