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Canoo

All articles tagged with #canoo

business-electric-vehicles1 year ago

Canoo's Bleak Forecast Sparks Stock Tumble

Electric vehicle maker Canoo forecasts 2024 revenue well below analyst expectations, leading to a 38% drop in its shares in extended trading. The company, which has been struggling with dwindling capital and uncertain demand, reported a net loss of $302.6 million for the year ended Dec. 31. The broader slowdown in demand for battery-powered cars, driven by high-interest rates and competition, has impacted startups and major automakers alike, making it difficult for firms like Canoo to raise more money.

via Reuters|
#business-electric-vehicles#canoo#capital-raising
business-technology1 year ago

"Canoo (GOEV) Stock Skyrockets as OKC EV Facility Receives Key Approval"

Canoo's (GOEV) stock surged after its Oklahoma City facility received approval as a Foreign Trade Zone (FTZ), which will help improve profitability as it scales production. The approval eliminates customs duties on vehicles sold overseas and defers duties on imported parts for EVs sold in the US, potentially lowering vehicle costs by up to 5%. Despite financial concerns, Canoo is making progress with commercial electric van deliveries and expects to benefit from the IRA's Commercial Clean Vehicle Credit, with a +$3 billion order book and $750 million in committed orders.

via Electrek.co|
#business-technology#canoo#ev
finance1 year ago

Canoo (GOEV) Stock Surges on Foreign-Trade-Zone Approval

The options market for Canoo Inc. (GOEV) is indicating high implied volatility, suggesting that investors are expecting a significant move in the stock. Analysts have mixed opinions, with one increasing earnings estimates for the current quarter. Options traders may see an opportunity in the high implied volatility to sell premium and capture decay, potentially reducing risk.

via Yahoo Finance|
#analysts#canoo#finance
technology1 year ago

"Unveiling the Apple Car: From Design Leaks to Demise"

Leaked design information reveals that the canceled Apple Car project drew inspiration from classic Volkswagen vans and the EV car company Canoo, with the initial concept resembling a modern version of the 1950s Volkswagen microbus. The design evolved over the years, with the last iteration resembling the Canoo Lifestyle Vehicle, featuring gull-wing doors and a minimalist, spacious interior. Despite positive reception from Apple executives, including CEO Tim Cook, the project was ultimately scrapped, leaving behind only reports of what could have been.

via Mashable|
#apple#canoo#car-design
technology1 year ago

"Unveiling the Apple Car: Design Insights and Its Untimely Demise"

Designs for the Apple car reportedly drew inspiration from the Volkswagen Microbus, the Canoo Lifestyle Vehicle, and the Tesla Model X, with various iterations featuring elements of these vehicles. Apple's "Project Titan" faced challenges and delays in developing a self-driving electric vehicle, amid leadership changes and softening demand for EVs in the US. Meanwhile, BYD, a leading EV maker, cited complexities in the US market as a reason for not entering it.

via Business Insider|
#apple#canoo#car-design
business2 years ago

"Canoo Secures Deal to Sell 6 Electric Vehicles to USPS"

Oklahoma-based electric vehicle maker Canoo is set to sell six of its LDV-190 electric delivery vehicles to the United States Postal Service (USPS), as part of USPS's plan to acquire tens of thousands of EVs by 2028. The LDV-190 has a range of 200 miles and 172 cubic feet of cargo space, and is designed for mail delivery with right-side driving. Canoo aims to meet the exact needs of USPS and expects the vehicles to be delivered by March.

via KOCO Oklahoma City|
#business#canoo#delivery
businesstransportation2 years ago

"USPS Explores Canoo's Pod-Like Vans for Future Mail Delivery"

The United States Postal Service has ordered six right-hand-drive electric vans from EV startup Canoo, as part of its efforts to explore commercial-off-the-shelf electric delivery vehicles for its fleet upgrade. The Canoo LDV 190 offers 200 miles of range, a 79.0-kilowatt-hour battery pack, and a cargo hold capable of carrying up to 1,624 pounds of mail. The USPS plans to evaluate the performance of these vans, with potential for more orders in the future, while also dealing with delays in the delivery of upgraded mail trucks from Oshkosh Defense.

via Motor1 |
#businesstransportation#canoo#electric-vans
business2 years ago

"USPS to Expand Electric Fleet with Canoo Vans and Ford E-Transit"

The United States Postal Service (USPS) is set to purchase six battery-electric Canoo vehicles as part of its electrification and modernization efforts for its national delivery fleet. Canoo's patented technologies, including steer-by-wire and low-profile suspension system, are expected to enhance functionality, safety, and ergonomics for USPS. This deal is part of USPS's $40 billion investment strategy to upgrade its processing, transportation, and delivery networks, indicating a continued search for the ideal electric vehicle.

via Electrek|
#business#canoo#delivery-fleet
finance2 years ago

Market Winners and Losers: Plug Power Soars, ChargePoint and Canoo Stumble

Shares of hydrogen fuel cell maker Plug Power surged by 11.5% while charging network company ChargePoint Holdings and specialty EV maker Canoo plummeted by 17% and 19% respectively. ChargePoint's stock dropped after announcing a capital raise, which contradicted its previous statements about reaching profitability. In contrast, Plug Power announced new supply contracts and raised its sales outlook, boosting investor confidence. However, investors should approach these stocks with caution as they remain speculative and subject to volatility.

via The Motley Fool|
#canoo#chargepoint#electric-vehicles
business2 years ago

Canoo Secures Incentive Package Deal with Oklahoma and Cherokee Nation

Electric vehicle startup Canoo has finalized incentive agreements with the state of Oklahoma and the Cherokee Nation, worth an estimated $113 million over 10 years. The agreements will support Canoo's vehicle assembly facility in Oklahoma City and battery manufacturing factory in Pryor. The company will receive performance-based payouts and become eligible for state tax credit and exemption programs. Canoo plans to invest over $320 million in both facilities. The startup is expected to report a loss of around $75 million for the second quarter.

via Reuters|
#business#canoo#cherokee-nation
technology2 years ago

NASA's Artemis Crews Receive Cutting-Edge Canoo EVs for Lunar Missions

NASA has acquired a fleet of three all-electric vans designed by EV startup Canoo to transport the Artemis crew, support personnel, and equipment to the launchpad at the Kennedy Space Center. The vans will also be used for astronaut training exercises ahead of the Artemis II mission, which aims to send astronauts around the Moon and back, marking the first crewed mission out of low Earth orbit since 1972. Canoo, which faced funding issues last year, received key contracts from Walmart and the US Army. NASA's creative team had input on the vans' design.

via The Verge|
#artemis-mission#canoo#crew-transports
technology2 years ago

Canoo Successfully Delivers Crew Transportation Vehicles for NASA's Artemis Missions

Canoo, a high-tech advanced mobility company, has successfully delivered three Crew Transportation Vehicles (CTVs) to NASA's Kennedy Space Center for the Artemis lunar missions. These zero-emission vehicles are designed to transport astronauts, flight support crew, and equipment to the launch pad, providing comfort and safety during the nine-mile journey. Canoo's involvement in the Artemis missions marks a significant milestone in their mission to bring electric vehicles (EVs) to everyone.

via Yahoo Finance|
#artemis-missions#canoo#crew-transportation-vehicles
technology2 years ago

Canoo's Specially Designed EVs Join NASA's Artemis Missions to the Moon

EV startup Canoo has delivered three specially designed electric crew transportation vehicles to NASA's Kennedy Space Center for use in the Artemis missions to the Moon. The vehicles can transport four astronauts and specialized equipment, and will be used for astronaut training exercises before the scheduled Artemis II mission in November 2024. This marks the United States' return to the lunar surface since the Apollo 17 mission in 1972.

via Benzinga|
#artemis-missions#canoo#evs