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Israeli EV startup using in-wheel motors hits $580 million valuation

REE in-wheel EV platform

The simplicity of packaging electric motors directly into wheels is alluring. The possibilities for this solution date back a century to the earliest EVs. Several technical and economic challenges have held it back. (See unsprung mass.) But the latest company to tackle the problem is picking up speed. Haaretz reported today that Israel’s REE, an EV startup, is now raising money based on a $580 million valuation.