DETROIT, June 17 (Reuters) – The US electric vehicle startup Canoo (GOEV.O) announced on Thursday that it would build a plant in Oklahoma from 2023 to assemble the shell-shaped vans, which it calls “lifestyle vehicles ” designated.
The company also said it has signed a contract to outsource short-term manufacturing to VDL Nedcar in the Netherlands until the Oklahoma plant is completed.
The Oklahoma facility will be located on approximately 400 acres in Pryor in the northeast of the state, CEO Tony Aquila said at Canoo’s investor relations meeting in Dallas. The plant will employ over 2,000 people and will include assembly, a body shop and a paint shop.
“We picked the great state of Oklahoma to manufacture,” said Aquila, who had previously opened an office in Dallas.
At full capacity, the plant will be able to build over 150,000 vehicles per year, he said in an interview.
Canoo’s investment in the facility will come in stages and could ultimately range from $ 500 million to $ 1 billion depending on demand, he said, adding that Canoo state is providing more than $ 300 million in tax incentives.
By the time the Oklahoma plant opens, VDL Canoos will build seven-seat vehicles for the U.S. and European markets, he said, so Canoo can fulfill its commitment to start production in the fourth quarter of 2022.
VDL plans to build up to 1,000 vehicles over the next year, with a target of 15,000 in 2023, Canoo said.
Canoo also plans to introduce a multi-purpose delivery vehicle and a pickup truck.
In December, Canoo went public through a reverse merger with a special purpose vehicle (SPAC). It changed CEOs in April, with Aquila, a former software executive and one of Canoo’s largest shareholders, taking over the reins. Continue reading
Canoo has developed a “skateboard” or low platform that bundles batteries and electric motors with chassis components such as steering, brakes and wheels on which a variety of vehicle bodies can be built.
Reporting by Ben Klayman
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