Canoo Inc (GOEV)

[mick]

Canoo (GOEV) has revealed in-house and outsourced manufacturing plans. The company’s CEO and Chairman Tony Aquila announced VDL Nedcar as the company’s contract manufacturing operator during the firm’s first Investor Relations Day.

VDL Nedcar, based in the Netherlands, will produce the Lifestyle Vehicle for the E.U. and U.S. markets while Canoo constructs its giant micro-factory in the U.S. Canoo will meet its pledge to start production and deliver automobiles in the fourth quarter of 2022 through a parallel pathing contract.

Aquila said, “We conducted an exhaustive search, invested significant amounts of time and resources that span the globe, in our search for our Phase 1 contract manufacturer. VDL Nedcar is the right partner.”

Canoo has created ground-breaking electric vehicles that redefine the automotive scene with bold design innovations, cutting-edge technologies, and a new business model that challenges conventional ownership to place customers first. (See Canoo stock chart on TipRanks)