<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        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.
      </p>
    </li>
    <li>
      <p>
        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.&nbsp;
      </p>
    </li>
    <li>
      <p>
        In addition, the company plans to discover alternative, cost-effective methods to reduce the company's capital expenditure.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://investors.canoo.com/news-presentations/press-releases/detail/121/canoo-acquires-manufacturing-assets-to-increase-vehicle">
      Press release
    </a>
  </p>
  <p>
  </p>
</div>


EV Economy

PROMINENT_CATEGORY

<div>
 
 <p>Canoo Technologies, a Nasdaq-listed EV maker, has purchased manufacturing assets below their estimated value and plans to use them to boost production at its Oklahoma City facility. The purchased robotics and control processing equipment will be used in vehicle cabin assembly as the company scales manufacturing for 2024 customer deliveries. Additionally, Canoo is exploring economical alternatives to cut capital expenditure.</p>

</div>

Canoo expands vehicle assembly capacity

ANALYST_QUICK_TAKE

<div>
 <ul>
  <li><p>Canoo Technologies, a Nasdaq-listed EV manufacturer, has signed a contract with Prime Time Shuttle, a transportation provider based in Los Angeles, to supply up to 550 of its EVs.</p></li>
  <li><p>The Lifestyle Vehicle Premium will be incorporated into Prime Time Shuttle’s existing fleet in Los Angeles with plans to expand to its markets outside California in the future.</p></li>
 </ul>
</div> <p><b>Analyst QuickTake:</b> Earlier this <a href="https://sp-edge.com/updates/23989"> week </a> , Canoo began deliveries of its Lifestyle Delivery Vehicle to the Office of Management and Enterprise Services, marking the start of its phased-ramp manufacturing in the State. The company has had large-scale orders from customers in the past, including <a href="https://sp-edge.com/updates/11611"> Walmart </a> , <a href="https://sp-edge.com/updates/13699"> Zeeba </a> , and Kingbee.</p>

Canoo to provide 550 EVs to Prime Time Shuttle

DISRUPTOR_PRESENT

<div>
 <ul>
  <li><p>Canoo, a Nasdaq-listed EV manufacturer, has started delivering its first EVs made in Oklahoma. This signifies the beginning of Canoo's phased-ramp manufacturing in Oklahoma and the shipment of its Lifestyle Delivery Vehicle (LDV) models to key customers and partners in 2023 with increased units in 2024.</p></li>
  <li><p>The EVs were delivered to the Office of Management and Enterprise Services (OMES).</p></li>
 </ul>
</div> <p><b>Analyst QuickTake:</b> In <a href="https://sp-edge.com/updates/22403"> October 2023 </a> , Canoo secured a USD 45 million investment in a Series B round for redeemable preferred stock from a foreign institutional investor. The funding was intended to expand the manufacturing capacity of Canoo to meet customer demand.</p>

Canoo delivers first-made-in-Oklahoma-EVs to state government

Canoo, an EV manufacturer, has received a $45 million investment in a Series B round from a foreign institutional investor, bringing its total funding to $595 million. The agreement allows for additional investments of $150 million and includes warrants to purchase 22.96 million shares of common stock. The funding will be used to expand Canoo's manufacturing capacity. The company offers a dividend rate of 7.5% until the fifth anniversary of the closing date, after which it will increase by 1.5% annually, capped at 12.0% per annum. The investor also has the option to convert preferred stock into common stock.

All Updates

Canoo expands vehicle assembly capacity

Canoo to provide 550 EVs to Prime Time Shuttle

Canoo delivers first-made-in-Oklahoma-EVs to state government

Canoo issues USD 45 million of convertible preferred shares

Canoo partners with GCC Olayan to distribute EVs in Saudi Arabia

Canoo reports Q3 2022 results

Canoo to establish EV battery module manufacturing facility in Oklahoma

Zeeba to purchase 5,450 EVs from Canoo

Canoo reports over USD 1 billion sales pipeline

Canoo partners with Walmart to electrify its delivery fleet