"Canoo (GOEV) Stock Skyrockets as Oklahoma City Manufacturing Facility Receives Key Approval"

Canoo Inc.'s Oklahoma City manufacturing facility has been approved as a Foreign Trade Zone (FTZ) by the U.S. Department of Commerce, allowing for the elimination of customs duties on vehicles sold overseas and deferral of duties on imported parts used in vehicles sold domestically. The FTZ designation is expected to enhance profitability for international sales and improve working capital for domestic sales, while also creating and protecting American manufacturing jobs. Canoo plans to expand its manufacturing footprint in Oklahoma and aims to bring more supply partners closer to its facilities, supporting its mission to bring electric vehicles to everyone.