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Canoo Withdraws 2024 Revenue Guidance
https://www.marketwatch.com/story/canoo-withdraws-2024-revenue-guidance-61ab714a?mod=markets
BRIEF-Canoo Entered Equity Distribution Agreement With Northland Securities
REUTERS
Sep-13-2024 6:19 p.m. ET
Sept 14 (Reuters) - Canoo Inc (GOEV):
* CANOO INC (GOEV) - ENTERED EQUITY DISTRIBUTION AGREEMENT WITH NORTHLAND SECURITIES, INC
* CANOO (GOEV)- SALES DEAL TO SELL SHARES OF COMMON STOCK OF UP TO $200 MILLION THROUGH "AT MARKET OFFERING" PROGRAM Source text for Eikon: Further company coverage:
--------------------------------------------------------------------
Form 424B5 Canoo Inc.
EDGAR SEC FILINGS
Sep-16-2024 6:14 a.m. ET
http://archive.fast-edgar.com/20240916/A8BEBQ2C8Z22KZZZ2RZN2ZZZG8MNZ2R2Z26Q
Filed on: September 16, 2024
Sorry that was from five months ago. this is from yesterday:
Just read on a different thread. USPS order would be 10,000 to 12,000 units. DoD testing going well. More orders to come from the U.S. military in the future? New 52 week highs coming in the near future, imho. HAWK
Newly obtained machinery close to up and running. As production costs drop profits rise. It's a long shot but new 52 weeks highs could be in the near future (six months)? USPS testing those lefthand drive vehicles right now. That alone could lead to a HUGE order from the USPS. And MidEast order is pending? WalMart order at 4,000. Others pending. This could easily be a 5 bagger or more. HAWK
Canoo Inc. Announces Second Quarter 2024 Results
August 14 2024 - 4:05PM
Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced its financial results for the second quarter of 2024.
“This quarter represented good progress with US and international customers completing pilots and testing. We are focused on left-hand drive and right-hand drive large fleet customers and finalizing their configurations,” said Tony Aquila, Investor, Executive Chairman and CEO. “This demonstrates our platform's versatility and stability, a result of more than 34,000 recent real world, industrial use customer miles.”
Second Quarter and Recent Business Updates:
Deliveries to US Postal Service of right-hand drive LDV 190s; on the road delivering mail
Successful Supplier Engagement Days with approximately half of bill of materials represented in Oklahoma City
Announced entering of Saudi Arabia market with commercial vehicle sales to Jazeera Paints
23% of capital raised in Q2 2024 from non-dilutive sources
Completed initial milestone of Phase 3 of the contract with Defense Innovation Unit, a division of the U.S. Department of Defense supporting the government’s advanced energy systems research needs
Second Quarter Financial Highlights:
As of June 30, 2024, we had cash, cash equivalents and restricted cash of $19.1 million. After giving effect to net proceeds from the July 2024 PPA totaling $14.1 million, our cash, cash equivalents and restricted cash balance would have been $33.2 million on June 30, 2024.
GAAP net loss and comprehensive loss of $(5.0) million and $(115.6) million for the three and six months ended June 30, 2024, compared to a GAAP net loss and comprehensive loss of $(70.9) million and $(161.6) million for the three and six months ended June 30, 2023. The GAAP net loss and comprehensive loss for the three and six months ended June 30, 2024 included a gain of $48.3 million and gain of $38.8 million on the fair value change of the warrant and derivative liability, respectively, a loss on fair value change of convertible debt of $(8.5) million and $(67.1) million, respectively, and a loss on extinguishment of debt of $0.0 million and gain on extinguishment of debt of $24.5 million respectively.
Adjusted EBITDA of $(38.6) million and $(86.9) million for the three and six months ended June 30, 2024, compared to $(62.3) million and $(129.4) million for the three and six months ended June 30, 2023.
Adjusted Net Loss of $(42.7) million and $(100.0) million for the three and six months ended June 30, 2024, compared to $(69.1) million and $(141.1) million for the three and six months ended June 30, 2023.
Adjusted EPS per share of $(0.61) and $(1.66) for the three and six months ended June 30, 2024, compared to $(3.14) and $(7.02) for the three and six months ended June 30, 2023.
Net cash used in operating activities totaled $83.4 million for the six months ended June 30, 2024, compared to $129.5 million for the six months ended June 30, 2023.
Net cash used in investing activities was $6.9 million during the six months ended June 30, 2024, compared to $33.9 million during the six months ended June 30, 2023.
Net cash provided by financing activities was $88.5 million during the six months ended June 30, 2024, compared to $132.2 million during the six months ended June 30, 2023.
2024 Business Outlook
Based on our current projections, Canoo reaffirms its prior cash flow guidance. Additionally, due to the pacing of capital and supply chain harmonization, Canoo expects its Adjusted EBITDA to be between $(120) million to $(140) million for the second half of 2024.
Canoo options imply 13.2% move in share price post-earnings
THE FLY
Aug-14-2024 1:49 p.m. ET
Pre-earnings options volume in Canoo (GOEV) is normal with calls leading puts 4:1. Implied volatility suggests the market is anticipating a move near 13.2%, or 19c, after results are released. Median move over the past eight quarters is 5.0%.
GOEV.................................https://stockcharts.com/h-sc/ui?s=GOEV&p=W&b=5&g=0&id=p86431144783
Canoo Announces Commercial Fleet Order from Go2 Delivery
July 03 2024 - 7:00AM
Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that Go2 Delivery, a sustainable logistics solutions provider, has signed a definitive agreement to purchase five fully-electric commercial delivery vans with the potential to purchase up to an additional 85 vans. Go2 Delivery will integrate Canoo’s popular Class 1 Lifestyle Delivery Vehicle 130 (LDV130) into their delivery fleet to enhance their operational efficiency, provide eco-friendly deliveries for their customers, and significantly lower their environmental impact.
The company selected Canoo’s LDVs to accelerate its commitment to becoming the leading carbon-free logistics company to meet the last mile and other delivery transportation needs of its customers in Virginia and the Chesapeake Bay area.
Canoo's all-electric LDV130 Lifestyle Delivery Vehicles provide Go2 Delivery the durability, range, reliability, configuration, and cargo space required to fulfill the rigorous demands of its logistics operations.
Go2 Delivery provides same-day courier and last-mile delivery services to B2B and B2C customers across retail, healthcare and e-commerce businesses.
About Go2 Delivery
Established from the 25-year legacy of Mobile One Courier, Go2 Delivery is a carbon-free courier company committed to sustainable practices and the restoration of the local Chesapeake Bay ecosystem. Rooted in values of innovation, minimalism, and interconnectedness, Go2 Delivery strives to provide exceptional service while actively working towards a greener tomorrow. www.go2delivery.com
For more information about GO2 Delivery and its services, please visit https://go2delivery.com.
NEWS. Will see increased production in 2025 and lowering costs. I am starting to buy again. Just a FYI. HAWK
https://investors.canoo.com/news-presentations/press-releases/detail/140/canoo-received-discounted-manufacturing-assets-at-oklahoma
~4MM share sale several hours after announcement:
BRIEF-Canoo Inc - Entered Into A Pre-Paid Advance Agreement With Ya Ii Pn, Ltd.
REUTERS
Jun-13-2024 6:28 p.m. ET
Canoo Inc (GOEV):
* CANOO INC (GOEV) - ENTERED INTO A PRE-PAID ADVANCE AGREEMENT WITH YA II PN, LTD.
* CANOO INC (GOEV) - IN ACCORDANCE WITH THE TERMS OF THE PPA, ON THE EFFECTIVE DATE, YORKVILLE AGREED TO ADVANCE $15 MILLION TO CO
* CANOO (GOEV)- PRE-PAID ADVANCE WILL BE OFFSET UPON ISSUANCE OF SHARES OF CO'S COMMON STOCK TO YORKVILLE AT AN INITIAL PURCHASE PRICE EQUAL TO $2.30 PER SHARE
Looks like you have another opportunity to buy - dropped below 1.50 before rebounding to 1.80 or so....
Bought a few hundred today at $1.94. Have some bids in at a bit lower price. I really like their van that the USPS is testing. Also, love the pick up. State of Oklahoma has an order in but I am not sure what the quantity is. Check out the increase in volume. It is said volume precedes price. I hope that is true with GOEV. HAWK
Looks like it's inching closer to your $1.90 support/buy level....
Double ADV today. They say volume precedes price. GOEV being recommended on S.I. boards today. I'll see if I can get a link. Info from a friend. Just a FYI.
HC Wainwright & Co. Reiterates Buy on Canoo, Maintains $7 Price Target
BENZINGA
5 mins ago
HC Wainwright & Co. analyst Amit Dayal reiterates Canoo (GOEV.NaE) with a Buy and maintains $7 price target.
Roth MKM Maintains Neutral on Canoo, Lowers Price Target to $3
BENZINGA
5 mins ago
Roth MKM analyst Craig Irwin maintains Canoo (GOEV.NaE) with a Neutral and lowers the price target from $4 to $3.
Benchmark Reiterates Buy on Canoo, Maintains $5 Price Target
BENZINGA
7:46 AM ET May-15-2024
Benchmark analyst Michael Legg reiterates Canoo (GOEV.NaE) with a Buy and maintains $5 price target.
Mixed news. Not bad. Market will adjust pps accordingly.
Canoo Inc. Announces First Quarter 2024 Results
GLOBENEWSWIRE
7 mins ago
Quarterly Adjusted EBITDA was $(48.3) million, an improvement of 28.0% (or $18.8 million) versus Q1 2023 and an improvement of 11.5% (or $6.3 million) versus Q4 2023
Adjusted Net Loss Per Share was $(1.13) per share, a 34.6% Improvement from $(1.73) per share in Q4 2023
Increased Purchases of Long Lead Time New and Like New Equipment at Large Discounts by Six Times in Q1 2024 versus Q4 2023; Reduces Future Capital Expenditures by Approximately $50 million in 2024
Active Discussions on Additional Purchases of Deeply Discounted Equipment
Deliveries to US Postal Service of Right-Hand Drive LDV 190s; On the Road Delivering Mail
Enters $30 Billion TAM Saudi Arabia Market with Commercial Vehicle Sales
Debut of LDV’s in the UK Market Introducing Products to Customers Representing Over One Million Units
Received Great British Fleet Award™
JUSTIN, Texas, May 14, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (GOEV.NaE) , a high-tech advanced mobility company, today announced its financial results for the first quarter of 2024.
“We are proud that our LDV190 vehicles have been delivered to the USPS South Atlanta Sorting and Delivery Center and are already delivering mail. These vehicles speak to the differentiation of our model where we deliver unique customized configurations to meet the needs of our large fleet customers and their associates,” said Tony Aquila, Investor, Executive Chairman and CEO of Canoo. “We continue to execute on our strategy of acquiring deeply discounted long-lead time assets as we prepare for step level manufacturing.”
First Quarter Business Updates:
Appointed Former NASA Chief Technology Officer Deborah Diaz and Veteran EV Transportation Leader James Chen to Board of Directors
Received Non-Dilutive Incentives from Oklahoma After Successfully Completing First Hiring Milestone
Oklahoma City Manufacturing Facility Designated as Foreign Trade Zone (“FTZ”) Opening International Expansion and Delivers up to $70.0 million in Estimated Vehicle Cost Savings and Duty Deferrals in 2024 and 2025
Entered Phase 3 of the Contract with Defense Innovation Unit, a Division of the U.S. Department of Defense Supporting the Government’s Advanced Energy Systems Research Needs
First Quarter Financial Highlights:
As of March 31, 2024, we had cash, cash equivalents and restricted cash of $18.2 million. After giving effect to the Series C Preferred Stock Purchase Agreement for a total of $16.5 million, our cash, cash equivalents and restricted cash balance would have been $34.7 million on March 31, 2024.
GAAP net loss and comprehensive loss of $(110.7) million for the three months ended March 31, 2024, compared to a GAAP net loss and comprehensive loss of $(90.7) million for the three months ended March 31, 2023. The GAAP net loss and comprehensive loss for the three months ended March 31, 2024 and March 31, 2023 included a loss of $(9.5) million and gain of $17.3 million on the fair value change of the warrant and derivative liability, respectively, a loss on fair value change of convertible debt of $(58.6) million and $0.0 million, respectively, and a gain on extinguishment of debt of $24.5 million and loss on extinguishment of debt of $(26.7) million respectively.
Adjusted EBITDA of $(48.3) million for the three months ended March 31, 2024, compared to $(67.1) million for the three months ended March 31, 2023.
Adjusted Net Loss of $(57.3) million for the three months ended March 31, 2024, compared to $(72.0) million for the three months ended March 31, 2023.
Adjusted EPS per share of $(1.13) for the three months ended March 31, 2024, compared to $(3.96) for the three months ended March 31, 2023.
Net cash used in operating activities totaled $47.5 million for the three months ended March 31, 2024, compared to $67.2 million for the three months ended March 31, 2023.
Net cash used in investing activities was $4.9 million during the three months ended March 31, 2024, compared to $18.4 million during the three months ended March 31, 2023.
2024 Business Outlook
Our previously issued guidance remains unchanged.
See “Non-GAAP Financial Measures” section herein for an explanation of Adjusted EBITDA. The Company is unable to provide a reconciliation for forward-looking guidance of Adjusted EBITDA to net loss, the most closely comparable GAAP measure, because certain material reconciling items, such as depreciation and amortization and interest expense cannot be estimated due to factors outside of the Company's control and could have a material impact on the reported results. A reconciliation is not available without unreasonable effort.
Course, now it's selling off right before the close as if they leaked some not so good news to large holders.
Positive news and the pps moves to $5-$6.00 with ease. TWT. HAWK
Looks like some positive anticipation building toward today's announcement of 1st quarter results. Stock up modestly on nice volume, warrants up also but on low volume.
GOEV >>> Looks like support is around $1.90. I would be a buyer at that number. Just a FYI. HAWK
"On May 3, 2024, the Company closed its previously announced sale to the Purchasers of 10,000 shares of the Preferred Shares and warrants to purchase 4,473,272 shares of the Company’s common stock, par value $0.0001 per share, for a total aggregate purchase price of $10 million. The Company received net proceeds of approximately $9.9 million after deducting expenses. The Company intends to use the net proceeds for working capital and general corporate purposes."
This is the equivalent of $2.2355 per share.
Correction continues. A drop to $1.90 area would be oversold and a STRONG BUY. (From S.I.). I agree.
Futuristic Canoo EVs steal CV show
https://businessvans.co.uk/van-news/futuristic-canoo-evs-steal-cv-show/
GOEV...........................................https://stockcharts.com/h-sc/ui?s=GOEV&p=W&b=5&g=0&id=p86431144783
$GOEV Based on 5 Wall Street analysts offering 12 month price targets for Canoo in the last 3 months. The average price target is $8.31 with a high forecast of $17.25 and a low forecast of $4.00. The average price target represents a 170.68% change from the last price of $3.07. https://www.tipranks.com/stocks/goev/forecast#google_vignette
#electricvehicles #buildbackbetter #canoo #Evs
Right on!
Benchmark analyst Michael Legg initiates coverage on Canoo (GOEV) with a Buy rating and announces Price Target of $5.
I've been buying on this pullback. PPS could easily go to $5.00+. All, imho. HAWK
Canoo Further Expands its International Market Presence through the Red Sea Global Partnership in the Kingdom of Saudi Arabia
April 08 2024 - 06:00AM
Canoo Inc. (NASDAQ: GOEV), a high-tech advanced mobility company, announced its innovative electric vehicles will be used in a pilot program by Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA.
Red Sea Global will pilot Canoo’s Lifestyle Vehicle (LV), Lifestyle Delivery Vehicle (LDV) 190, and the Bulldog pickup truck. The Canoo vehicles will be piloted for travel between Red Sea Global’s international airport, its various resorts, facilities, and excursions. This trial will help tailor Canoo’s zero-emission vehicles to RSG’s use cases and mobility needs.
Canoo’s premium LV will provide transportation for guests traveling between Red Sea International Airport (RSI) and its resorts and residential properties. Likewise, Canoo’s LDV 190 can help with the movement of guest luggage items between RSI and the various properties. Canoo’s Bulldog fits the use case and needs of RSG’s experience companies, Akun, WAMA, and Galaxea, for transporting guests to their various excursions.
“Red Sea Global is an inspiring development illustrating the Crown Prince’s Vision 2030 goal to responsibly diversify its economy in an eco-friendly way. This resort will further transform the Kingdom showing the world the beauty of the Red Sea, which is a cornerstone of his vision. If you’ve been there in the last few years you would marvel at the scale and pace that his team has progressed the project with unique experiences.” said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo. “This pilot is an important step in further aligning our product portfolio to deliver climate-friendly, all-terrain, and climatic-conditioned versions of our platform. We are excited and honored to return to this important region with our first Red Sea edition pilot vehicles!”
“When we first laid out our vision of regenerative tourism, we knew that not all of the solutions we’d need to achieve our goals yet existed. That is why we seek to work with forward-thinking partners who are pioneering the technology that could help us in the fight against climate change. Canoo is an innovator in the world of clean mobility and we’re proud to be putting their ideas and technology to the test at our unique destinations,” said John Pagano, Group CEO at Red Sea Global.
INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Canoo Inc. to Contact Law Firm
The detail of Canoo's response:
“Had Reuters called Canoo for comment we would have told them that we raised $324 million in 2022, and $288 million in 2023 and we are currently in discussions with several entities and individuals about investing in the company this year,” Canoo wrote in the post. “We would have also told them that we have begun manufacturing, expect to step up our manufacturing effort this year, and have a backlog of orders. And, that we are not in the consumer market, we are in the commercial market.”
In addition, the EV maker highlighted the fact that the company’s executives firmly believe in the company’s future, adding that CEO Tony Aquila has personally contributed to the automaker.
“Canoo executives, including its CEO, have every confidence in the company. In fact, since mid-2020 and through 2023, Mr. Aquila has invested more than $350 million in the company’s stock.”
The automaker just began initial deliveries of its latest Oklahoma-produced commercial Lifestyle Delivery Vehicles (LDVs) in December, delivering a total of 17 vehicles in Q4 and an additional 5 that were produced in Texas earlier in the year. The initial deliveries went out to a few offices in the state of Oklahoma, as well as companies Kingbee and Zeeba. Earlier in the year, Canoo made deliveries to the U.S. Army and to NASA, though its Oklahoma production facility wasn’t yet running.
“We will continue to make progress towards accessing additional forms of debt and other non-dilutive forms of capital as we move into 2024,” said Canoo CFO Greg Ethridge in a call following the earnings report. “Let’s be very clear. We’ll only raise the capital that we need.”
Reuters declined to ask Canoo for comment on their 2024 forecast, and incorrectly referred to Canoo’s vehicles as consumer rather than commercial. Canoo is also committed to non-dilutive financing.
https://www.teslarati.com/canoo-disappointing-2024-forecast/
$GOEV
Think she is selling Red lipstick
Sinking Canoe--2.72;
-1.15 (-29.72%)
https://www.zerohedge.com/news/2024-04-02/sinking-canoe
Cheers
Canoo Analyst Remains Bullish While Investors Punish The Stock On Disappointing Outlook
BENZINGA
12:09 PM ET 04/02/2024
Canoo Inc (GOEV) shares were tanking in early trading on Tuesday after the company issued weak 2024 revenue guidance. In early March, the company had announced a 1-for-23 reverse stock split.
The company was following a "prudent" approach to scale its manufacturing while building resiliency in its supply chain, according to H.C. Wainwright & Co.
The Canoo (GOEV) Analyst: Amit Dayal maintained a Buy rating for Canoo (GOEV) while raising the price target from $3 to $7.
The Canoo Thesis: The company reported its fourth-quarter revenues at $0.4 million, with an adjusted EBITDA loss of $54.0 million, versus $60.7 million in the year-ago quarter, Dayal said in a note.
"The company's 2024 revenue guidance of $50[M]-100M implies production of roughly 1,000-2,000 vehicles during the year; we believe management is targeting quarterly production levels of 4,000-5,000 by mid-2025," the analyst wrote. "During the last few months, the company has taken steps that position the company for long-term profitable execution," he added.
The change in price target reflects the 1-for-23 reverse stock split, investments from foreign strategic institutional investors, and "other advances against the Pre-Paid Advance Agreement (PPA)," Dayal further stated.
"Wedbush Adjusts Canoo's Price Target to $5 From $4, Maintains Outperform Rating"
"Canoo Remains Cost Conscious Amid Capital Concerns, Wedbush Says
MT NEWSWIRES
1:40 PM ET 04/02/2024
01:40 PM EDT, 04/02/2024 (MT Newswires) -- Canoo (GOEV) has remained cost conscious amid concerns over its capital needs after the electric vehicles maker missed revenue expectations while beating consensus on the bottom line in Q4, Wedbush said in a report Tuesday.
"From a cost perspective, the company remains extremely cost conscious, lowering its overall R&D expense by 53% y/y while turning a corner to cautious expansion," Wedbush analysts, including Daniel Ives, said, adding that Canoo (GOEV) is also disciplined in its capital deployment approach by raising only the amounts of capital it needs for each milestone.
"We estimate the company needs to raise roughly $200 million to $250 million to navigate through this period and emerge in a stronger position into 2025 as this remains a key investor concern," the analysts said.
"We still remain positive in the long-term Canoo (GOEV) growth story, its key partnerships, and its supply chain strategy," they said.
Wedbush kept its outperform rating on Canoo (GOEV) while raising its price target to $5 from $4.
makes no sense why companys always do this crap, bad news then good news, manipulation at its finest, so hard to make any money in todays markets with all the crooks running the show
Canoo Enters a $30 Billion Market with Multiple Commercial Vehicle Sales in Saudi Arabia
April 02 2024 - 06:00AM
Canoo Inc. (NASDAQ: GOEV), a leading high-tech advanced mobility company, today signed a vehicle sales agreement with Jazeera Paints, a pioneering paint manufacturer in the Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA). Jazeera Paints will initially purchase 20 Canoo's electric vehicles (EVs) into its fleet in 2024, with the option to expand up to 180 additional vehicles. This agreement taps into the Saudi Arabian EV market, which commands a total addressable market (TAM) of over $30 billion, and aligns with initiatives within the GCC region to enhance sustainable mobility solutions.
These vehicles will be one of Canoo’s first international sales exported to Saudi Arabia utilizing Canoo’s recently approved Foreign Trade Zone (FTZ) which contributes to lower unit cost and higher margins as announced in Canoo’s press release on March 18, 2024. In addition, these electric commercial delivery vehicles provide Canoo with a first mover advantage in the Saudi market and a competitive position in the Gulf Cooperation Council (GCC) region.
Jazeera Paints will be deploying Canoo's LDV 130 and LDV 190 delivery vehicles within its existing fleet, which operate throughout the Kingdom of Saudi Arabia and MENA and support Jazeera Paints' commitment to the Saudi Green Initiative’s imperative that 30 percent of new car sales in the Kingdom are electric by 2030.
Canoo’s delivery vehicles are built on a proprietary multi-purpose platform with steer-by-wire technology. Canoo’s software stack allows for end-to-end integration into Jazeera Paints' workflow and its custom-built shelving eliminates the need for third-party upfitting, thereby reducing downtime for operations.
"This partnership is a key milestone in our targeted geographic expansion to the KSA region with a large and important fleet that is focused on deploying sustainable technologies across the fast-growing industry it serves. I have had the pleasure of working closely with Abdullah bin Saud Al-Romaih, the CEO of Jazeera Paints, on how we can partner together to deliver on the Crown Prince’s environmental initiatives for the Kingdom’s Vision 2030,” said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo.
“I am delighted to announce this agreement to purchase electric vehicles from Canoo, which symbolizes Jazeera Paints' commitment to sustainability and eco-friendly technologies and materials,” said CEO of Jazeera Paints, Abdullah bin Saud Al-Romaih. “Tony and I have been working on this partnership for over a year and are excited about the future possibilities of ways we can work together to achieve our sustainability goals.”
Looking ahead, this partnership between Canoo and Jazeera Paints represents the beginning of a transformative journey in the realm of electric mobility. Both companies anticipate this alliance will catalyze further innovation and collaboration, paving the way for a more sustainable and technologically advanced future in commercial transportation within the GCC and beyond.
Maybe this. https://stocks.apple.com/AdTyWQTY4Qruhqictyt897Q
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The plant, at full capacity, will be able to build over 150,000 vehicles a year, he said in an interview.
Canoo's investment in the facility will come in stages, and depending on demand could ultimately range from $500 million to $1 billion,
he said, adding that the state is providing Canoo more than $300 million in tax incentives.
Until the Oklahoma plant opens, VDL will build Canoo's seven-seat vehicle for the U.S. and European markets,
he said, allowing Canoo to meet its commitment to start production in the fourth quarter of 2022.
LOS ANGELES, March 10, 2021 /PRNewswire/ -- Canoo Inc. (Nasdaq: GOEV), a company developing breakthrough
purpose-built electric vehicles (EVs) with a proprietary and highly versatile platform architecture,
debuted today its fully-electric pickup truck during the Motor Press Guild's Virtual Media Day (VMD) in partnership with Automobility LA.
The production version of the pickup truck will open for preorders in Q2 2021, with deliveries beginning as early as 2023.
"We are so passionate about building vehicles that can change people's lives," said Tony Aquila, Executive Chairman, Canoo.
"Our pickup truck is as strong as the toughest trucks out there and is designed to be exponentially more productive. This truck works for you.
We made accessories for people who use trucks – on the job, weekends, adventure. You name it, we did it because it's your platform and she's bad to the bone."
Canoo's pickup truck was built with several unique features to help customers do more with their vehiclesi:
Pull-out Bed Extension:
The pickup truck bed is six feet long and can extend to a fully enclosed eight feet, allowing big items such as a 4 by 8 ft sheet of plywood to easily fit inside.
The pull-handle bed extension also helps with loading and unloading the truck. The extension also serves as a license plate holder.
When the bed is extended, a second layer of tailgate doors can be swiveled out.
The bed-extension also houses a secondary lamp, containing all tail lamp functions, so the truck can be driven while the bed space is maximized.
Fold Down Worktable + Cargo Storage:
To offer the greatest customer utility, the pickup features a front cargo storage area that can hold tools or gear, also includes a fold down worktable with electrical outlets.
The workstation table is extendable to allow customers to have maximized work surface on the go, in addition to providing an area to put on gear before heading out exploring.
Flip-Down Side Tables:
Both sides of the vehicle house a flip down table in two expandable depths.
Built into the side panel of the truck bed, the flip-down side table becomes a workbench with multi-functional power sources in close proximity.
Side Step + Storage:
On the side of the vehicle there is a hidden step to allow quick and easy access to the truck bed.
Underneath the step is a flexible storage area for items including: a first-aid kit, cooler for snacks and drinks, lockable laptop storage and more.
This space efficient feature is only possible due to Canoo's ultra-flat platform.
Modular Bed with Space Dividers:
The truck bed is modular with the use of Canoo's space divider system designed to keep items separate and secure.
The bed wall also incorporates modular wheel chocks to secure bikes and configurable tie downs for ladders, large equipment and other materials.
Multi-Accessory Charge Port:
The pickup truck can double as a powerplant with exportable power accessible on all sides of the vehicle.
Power can last all day for tools and devices, with as little as 10% impact on vehicle range.|
Integrated Overhead + Bed Perimeter Lighting:
The third break light doubles as an overhead light to see inside the cargo bed at night.
The vehicle is also equipped with perimeter lighting on all sides of the bed wall for added visibility.
Roof Rack:
The pickup truck has optional roof racks in variable sizes for added cargo storage. The roof rack is easily accessible from the flatbed or via the sidestep.
Camper Shell:
The pickup truck has been designed to accommodate a variety of camper shells to fit as many use cases as possible.
The pickup truck is the third vehicle that will be based on the company's proprietary multi-purpose platform architecture, enabling the accelerated development timeline.
Canoo's EV platform functionally integrates all the critical components of an electric powertrain to be as flat and efficient as possible.
Traditional EV platforms have power units, shock towers and mechanical steering columns that protrude into the vehicle and take up space.
By incorporating steer-by-wire and other space-saving technologies,
Canoo's thin platform, with no need for an engine compartment, allows the company to offer a flatbed size comparable to America's best-selling pickup truck on a smaller footprint.
This makes the vehicle easier to maneuver and more convenient to drive and park in any terrain.
Vehicle specifications for the Canoo pickup truck includeii:
Canoo designed its pickup truck to be the most cab-forward and space efficient on the market, with massive cargo capacity on the smallest footprint possible.
Thanks to the flexible platform and steer-by-wire, the passenger compartment was able to be shifted forward to maximize driver visibility.
Canoo's designers gave the pickup added stance and durability with increased wheel spats to support larger wheels, which provides improved stability and gives it a rugged profile.
Advanced lighting technology provides adaptive safety, and the company's iconic signature headlights and taillights serve as core brand identifiers without the need for a logo.
Beyond just storage, the front surface of the vehicle has been extended to better protect the headlights and windscreen.
The bumpers are designed for maximum functionality and durability with integrated tow hooks and metal skid plates on both the front and rear.
The vehicle's fog lamps are also integrated seamlessly into the bumper design to offer the driver additional visibility and safety.
Lined with trim and materials selected for durability, the extended cab vehicle has two seats in the front with a customizable rear compartment
that can accommodate two additional seats or support additional purpose-built use-case configurability.
Full specifications will be revealed closer to production. With its thoughtful added features, utilitarian design, and compact maneuverability,
this vehicle reinforces Canoo's mission of creating electric vehicles for everyone on the road or dirt road.
Canoo's line of battery electric vehicles is purposefully designed to help everyday people be more productive and enjoy
a return on capital from their vehicle, putting money back into the pockets of its consumers.
About Canoo
Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles that are reinventing the automotive landscape
with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first.
Distinguished by its experienced team – totaling over 350 employees from leading technology and automotive companies
– Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable
to support a wide range of vehicle applications for consumers and businesses.
For more information, please visit
http:// www.canoo.com.
For Canoo press materials, including photos, please visit press.canoo.com.
For investors, please visit investors.
http://www.canoo.com. ;
video 03-12-2021
#2-$Canoo 'Canoo Inc (GOEV)' [bed of truck is very usable][like work bench etc.][300h.p.]
assessory's available
https://www.youtube.com/watch?v=sbBXMzaXDVM&ab_channel=Canoo
Canoo
11.8K subscribers
Get updates about Canoo Pickup Truck: https://bit.ly/38vIZrG?
Own the open road with over 200 miles of range and instant acceleration with 550 ft lbs of torque.
Take what you need with you with 1,800 lbs of payload capacity and a 6 ft utility truck bed, packaging a folding side table,
pegboard bed flooring, onboard outlets and more into every corner and surface
— complete with an additional 2ft pull out extension for a little extra room when you need it.
Our purpose-built pickup truck is designed to be the most cab-forward and space-efficient vehicle available,
resulting in an open cabin with a commanding view of the road and seating for up to four. An exercise in function and form,
the Canoo Truck makes use of every millimeter of space for all the utility you need for work and the weekend.
Official Press Release: https://bit.ly/3l7QeLj?
Connect with Canoo:
Instagram: https://www.instagram.com/canoo??
Facebook: https://www.facebook.com/canoo??
LinkedIn: https://www.linkedin.com/company/canoo??
Twitter: https://www.twitter.com/canoo??
Medium: https://www.medium.com/@canoo?
#Canoo? #PickupTruck? #ElectricTruck
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