The Pflugerville City Council approved an economic development performance agreement (EDPA) between the Pflugerville Community Development Corporation (PCDC) Board of Directors and REE Automotive, an electric vehicle technology company. The City Council voted to provide up to $1 million in grants based on REE investing $24.75 million. The eight-year agreement would allow Ree to expand into a nearly 120,000-square-foot facility. and the employment of 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. “REE’s research and development capabilities will further define the Austin region as an EV high-tech manufacturing hub.”

Ree is establishing its North American headquarters and integration center to produce REEcorners 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, which is near Austin, TX.