Israeli automotive startup Ree Automotive announced a preliminary licensing agreement that could generate up to US$770 million in revenue by 2030.

The deal, with an undisclosed mobility solutions company, is set to be finalized soon.

Ree will license its platform for self-driving passenger vehicles, with production starting in 2027, while software and services revenue is expected in the second half of this year.

Ree, which counts U-Haul and Airbus as customers, focuses on technology for software-defined vehicles rather than manufacturing. This strategy helps avoid high production costs while enabling software-controlled features for performance and safety.

The agreement is expected to boost Ree’s order backlog from US$150 million toward US$1 billion.

CEO Daniel Barel highlighted that the focus on software and services could improve margins and support profitability as production scales.