The firm now plans to develop to incorporate different places in Arkansas and Oklahoma for analysis and improvement, software program improvement, buyer assist and finance facilities.
see photographsCanu additionally anticipates capital expenditures between $60 million and $80 million for the present quarter.
Electric automobile firm Canoo Inc. has pushed its US manufacturing timeline to start manufacturing earlier than the fourth quarter subsequent yr, and can develop to extra places in addition to its Oklahoma facility, it mentioned on Monday.
In June, Canoo mentioned it might arrange a plant in Prior, Oklahoma, to assemble pod-shaped vans referred to as “lifestyle vehicles” beginning in 2023.
The firm now plans to develop to incorporate different places in Arkansas and Oklahoma for analysis and improvement, software program improvement, buyer assist and finance facilities.
Canoo’s shares rose practically 2% in prolonged buying and selling.
“We are targeting approximately $100 million in vehicle orders … where we are locating these features,” Chief Executive Officer Tony Aquila mentioned in an announcement.
Canu additionally forecasts capital expenditures between $60 million and $80 million and working prices between $95 million and $115 million for the present quarter.
Canoo’s shares rose practically 2% in prolonged buying and selling. It additionally reported a lower-than-expected loss for the third quarter.
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The firm developed a “skateboard” or a low-rise platform that bundled batteries and electrical motors with chassis parts comparable to steering, brakes and wheels, on which a wide range of automobile physique varieties may very well be constructed.
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With inputs from NDTV
