REE Automotive shares surge 13.04% after-hours as partnership with Mitsubishi Fuso for software-defined vehicle technology collaboration begins.

REE Automotive surged 13.04% in after-hours trading following the announcement of a strategic collaboration with Mitsubishi Fuso Truck and Bus Corporation to develop software-defined vehicle (SDV) technology. The partnership, formalized via a memorandum of understanding, involves integrating REE’s zonal SDV architecture and x-by-wire technology into a Mitsubishi Fuso eCanter electric truck. This collaboration positions REE as a potential supplier for Mitsubishi Fuso’s next-generation commercial vehicles, enabling the automaker to accelerate its transition to smarter, upgradable, cloud-connected trucks. The one-year evaluation phase highlights REE’s technology readiness and scalability, aligning with its "complete not compete" licensing model. The partnership with a major player like Mitsubishi Fuso, part of Daimler Truck AG, signals strong validation of REE’s SDV platform and future revenue potential, directly driving the after-hours rally.