REE Automotive (REE) said Tuesday it signed a non-binding memorandum of understanding with an unnamed technology company to develop and produce thousands of autonomous vehicles based on its P7 platform.
The company said it plans to sign a strategic agreement by the end of 2025, and the collaboration will likely generate up to $770 million in revenue by 2030.
Shares slumped past 34% following an increase in intraday trading volume to over 680,000 from a daily average of about 43,000.
Currenc Group (CURR) said Tuesday it plans to build a 500-megawatt hyperscale artificial intelligence data center in Johor, Malaysia.
The company did not provide the financial details of the project.
Shares sank 32%, with intraday trading volume rising to over 2.1 million versus a daily average of about 6 million.
The purchase of vehicles from Tesla (TSLA) to be used as taxis or for ride shares will no longer receive financial incentives from the city of Toronto because of growing trade tensions with the US, Reuters reported late Monday, citing Mayor Olivia Chow.
Shares slid 6.1% as intraday trading volume rose to over 82.4 million from the stock's daily average of about 88.7 million.
Price: 4.30, Change: -2.27, Percent Change: -34.55
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