Canoo reveals electric delivery van, plans for pickup, microfactories

The Canoo all-electric multi-purpose delivery vehicle is seen in an artist's rendering
The Canoo all-electric multi-purpose delivery vehicle is seen in an artist's rendering. Canoo/Handout via REUTERS.

December 17, 2020

By Ben Klayman

DETROIT (Reuters) – Electric vehicle startup Canoo, which is going public through a reverse merger with a blank-check company, on Thursday revealed its second scheduled vehicle, a delivery van, and laid out plans to add a pickup truck and build microfactories.

Canoo said it will offer two size variants on the delivery vehicle, which will carry a starting price of about $33,000. It will launch the vehicle in limited numbers in late 2022 with wider distribution in 2023.

“The multipurpose delivery platform is not just about delivering goods, it’s about delivering use cases on top of it,” Canoo Executive Chairman Tony Aquila said in an interview.

Aquila, who was named to his position in October, said Canoo plans to add a pickup, pushing beyond plans for the pod-like, seven-seat canoo in the second quarter of 2022, the delivery vehicle and a sport sedan in 2025. He did not disclose the timing for the truck.

“You’ll see us introduce a full lineup of product,” he said.

Canoo has developed a “skateboard” – a low-rise platform that bundles batteries and electric motors with such chassis components as steering, brakes and wheels – on which a variety of vehicle body types can be built.

While Canoo, which will go public later this month under the trading symbol “GOEV” through its deal with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp IV, is pushing to close a contract manufacturing deal with supplier Magna International, it also intends to build vehicles itself in microfactories, Aquila said.

Los Angeles-based Canoo said the delivery vehicle will have almost 30% more parcel volume than rivals.

Demand for electric delivery vehicles has surged and numerous companies, including Ford Motor Co, General Motors Co, Daimler’s Mercedes, and startups Rivian and Arrival, are developing similar vehicles.

Canoo, which is working with South Korea’s Hyundai Motor, said the delivery vehicle will be fully connected with data reporting capabilities, and feature self-driving technology and over-the-air software updates.

The two variants – multipurpose delivery vehicle 1 (MPDV1) and multipurpose delivery vehicle 2 (MPDV2) – are expected to offer three battery sizes, with an estimated EPA EV driving range of 130 to 230 miles (209 to 370 km), and 90 miles to 190 miles (145 to 306 km), respectively.

The vehicle will debut in the U.S. market, followed by Canada, Mexico and Europe.

Canoo said it plans to introduce a third, larger variant in the class 3 truck category.

(Reporting by Ben Klayman in Detroit; editing by Jonathan Oatis)