Canoo’s Oklahoma City Manufacturing Facility Achieves Final Activation as First Automotive Foreign-Trade Zone in the State of Oklahoma
Canoo Inc. - Class A (GOEV)
Company Research
Source: GlobeNewswire
FTZ activation insulates Canoo from import tariffs and allows for deferments and exemptions as the company expands its global presenceThe approval of Canoo's FTZ allows other vendors and partners to relocate into Canoo’s user-driven site thereby broadening the benefits to Canoo and its partnersEffective immediately providing a 5% reduction in BOM costs for imported parts significantly improving margins JUSTIN, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ: GOEV), a high-tech advanced mobility company, announced today that the U.S. Customs and Border Protection (CBP) has officially approved final activation of Canoo’s Oklahoma City operations as a Foreign-Trade Zone (FTZ), becoming one of the largest FTZs in the State of Oklahoma. This activation status qualifies Canoo to take advantage of FTZ benefits, effective immediately. This final designation will allow Canoo to significantly streamline its operations, offering financial and logistical benefits as the
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- Canoo Expands Presence in Oklahoma and Texas with Engineering Talent and Headquarters RelocationGlobeNewswire
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GOEV
Earnings
- 8/14/24 - Beat
GOEV
Sec Filings
- 9/19/24 - Form 8-K
- 9/16/24 - Form 424B5
- 9/13/24 - Form 8-K
- GOEV's page on the SEC website