Canoo Received Discounted Manufacturing Assets at Oklahoma Facilities
Canoo Inc. - Class A (GOEV)
Company Research
Source: GlobeNewswire
JUSTIN, Texas, June 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that it has received the first of two tranches of new or like-new advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Foreign Trade Zone (FTZ) designated facility in Oklahoma City, OK. The received assets will bolster in-house processes and enable higher cabin line production volumes in 2025. Canoo received 44 containers with 226 lots of advanced manufacturing assets including state-of-the-art robots along with a suite of comprehensive production infrastructure. These assets will streamline Canoo’s production processes, leading to reduced lead times, enhanced production scalability, lower capital expenditures, and eventually lowering unit costs. The Oklahoma City Facility manufactures Canoo’s electric cargo vehicles - LDV130 and LDV190. Canoo has a domestic-focused supply chain with over 90% of its parts source
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- 9/24/24 - Form 8-K
- 9/19/24 - Form 4
- GOEV's page on the SEC website