Canoo

Eunos_Cosmo

Eunos_Cosmo

11,327
United States
Marin County
Surprised we didn't already have a thread for Canoo, but they have apparently started to deliver some production vehicles to a commercial client.

Canoo Inc. (NASDAQ: GOEV), a leading high-tech advanced mobility company, today announced Kingbee, a national work-ready van provider, will begin using Canoo LDV 130 vehicles in its fleet.

Canoo delivered vehicles to Kingbee consistent with its schedule as part of a phased ramp-up manufacturing approach in Oklahoma City. Additional customer deliveries will be scheduled through 2024.

“We are proud that an increasing number of our vehicles are on the roads of America, and we are looking forward to our vehicles joining Kingbee and its impressive list of customers,” said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo. “Our vehicles are engineered for service workers, and optimized for safety, reliability, and comfort. This is what distinguishes our vehicles and provides a competitive edge for commercial fleet companies.”

As part of the agreement, Kingbee will purchase 9,300 Canoo vehicles with an option to increase to 18,600 vehicles, subject to availability. Kingbee will upfit, custom wrap, and deliver Canoo vehicles as work-ready fleet solutions for companies across the United States.

“We are excited for the opportunity to help fleets transition to electric vehicles. Fleets of all sizes use Kingbee as a flexible option for vehicle acquisition, and we’re honored to be among the first to add Canoo to our EV portfolio,” said Scott Haslam, CEO of Kingbee Vans
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I'm kind of into their product, so I hope they eventually bring a consumer version to market. It seems like a fun little run around vehicle - could be great for cyclists like myself.
 
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They're supposed to be in service with Walmart+ as well. I would love to have one of these, but delivered as spartan as possible with a sub 20k pricetag. Not gonna happen. I'm just happy I didn't buy stock with them 4-5 years ago when they announced. Nearly 100% loss of value. At $0.16/share I don't even know why they remain public.
 
Oooooo, I like it. That’s nice. It’s like a modern Toyota TownAce. Both are similar in size(TownAce is three inches longer).
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I'm pretty happy you guys like this lol.

The company had an IPO a couple years ago when I was playing with stocks like an idiot. Dropped like a rock of course, along with Rivian and Lucid. At its max at the end of 2020 it was over $20 per share but now it's...18 cents. The company has kept chugging along building their product but like with Lucid it doesn't seem to matter what the company does, there simply isn't any value added. Lucid has cars on the road and good press as far as the eyes can see but investors don't care.
 
Keef
I'm pretty happy you guys like this lol.

The company had an IPO a couple years ago when I was playing with stocks like an idiot. Dropped like a rock of course, along with Rivian and Lucid. At its max at the end of 2020 it was over $20 per share but now it's...18 cents. The company has kept chugging along building their product but like with Lucid it doesn't seem to matter what the company does, there simply isn't any value added. Lucid has cars on the road and good press as far as the eyes can see but investors don't care.
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Investors love Tesla because Tesla projects this aura of changing an entire industry, or even multiple industries.

Lucid & Rivian build nice cars...which doesn't lead anywhere except for acceptable to solid profits at best. It's hard to imagine either company having an Iphone moment, for instance, which was both an aspirational product (that was within reach of basically everyone in America) in and of itself, but also created an entire ecosystem of subeconomies all tied back to apple. A Lucid Air is a really nice car, but there is a pretty limited market for such expensive products, and it's not doing anything remarkable. Lucid and Rivian really ought to be private companies, but I'm sure a few executives got some pretty big paydays at the IPO.
 
Investors love Tesla because it's backed by the guy with the private company that builds money rockets. They also have an almost entirely vertically integrated manufacturing process, and the biggest profit margins of any automaker out there. They could sell loaded Model Ys for $20k and still make a profit, so if anyone wants a price war with them, Tesla is going to win it. Tesla is also the only company with a FSD business, which is a free $12-15,000 bonus on every vehicle sold.

Canoo has, what? Industry-exclusive thru-footwell visibility? Come on. Someone needs to scoop them up and go private, operate sort of like JCB does for heavy machinery.
 

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