Canoo Technologies, a Nasdaq-listed EV manufacturer, has bought manufacturing assets at a discounted price of ~80% of their estimated value. The company intends to expand its production capacity at its Oklahoma City facility.
Canoo acquired robotics and control processing equipment, which will be utilized to assemble vehicle cabins. The company aims to scale manufacturing to meet customer deliveries in 2024.
In addition, the company plans to discover alternative, cost-effective methods to reduce the company's capital expenditure.
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