What happened?
Veronica Ramirez, marketing communications manager for the Pflugerville Community Development Corp., told Community Impact via email Jan. 30 that following a site visit in the summer of 2024, the company decided not to move forward with the project.
Ramirez said the business cited a change in its business model for choosing not to continue the project.
About the business
REE Automotive is an Israel-based commercial electric vehicle technology company that manufactures electric vehicle platforms with interchangeable cargo modules geared toward different uses.
The details
Per the agreement approved in 2022, the PCDC would have provided up to $1 million in grants to REE, provided REE invested $24.75 million and created 125 full-time jobs over an eight-year period.
When the agreement was approved, the headquarters was set to occupy a 120,000-square-foot building in the One Thirty Business Park, located near the intersection of East Pecan Street and SH 130.
