Welcome to our dedicated page for Canoo news (Ticker: GOEV), a resource for investors and traders seeking the latest updates and insights on Canoo stock.
This page provides a historical news archive for Canoo Inc. (NASDAQ: GOEV), an automotive tech company that focused on manufacturing electric cargo vehicles for large commercial, government, and fleet customers. The news coverage reflects Canoo’s activities as a high-tech advanced mobility and energy company before its transition into Chapter 7 bankruptcy and liquidation.
In the news flow, readers will find company announcements about its electric commercial vehicles, including design-forward products built on a common modular platform with steer-by-wire technology and integrated software and power solutions. Coverage includes updates on Canoo’s expansion into the United Kingdom through Canoo Technologies UK Limited, the launch of an activation center at Bicester Motion, and regulatory milestones such as Individual Vehicle Approval certificates for right-hand drive commercial delivery vans.
The archive also contains operational and strategic updates, such as the final activation of Canoo’s Oklahoma City facility as a Foreign-Trade Zone, actions to consolidate facilities, and workforce-related announcements including furloughs and factory idling while the company sought additional capital. Financial communications, including quarterly results and related conference call information, are part of the record as well.
A key component of this news history is Canoo’s January 17, 2025 announcement that it filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code, stating that it would cease operations effective immediately and that a Bankruptcy Trustee would oversee the liquidation of its assets. Investors and researchers can use this news page to trace Canoo’s trajectory from its founding focus on electric commercial vehicles through its expansion efforts and ultimately to its decision to liquidate under Chapter 7.
For users analyzing GOEV, this archive helps contextualize past corporate decisions, customer relationships, regulatory milestones, and capital structure actions, including the 1-for-20 reverse stock split implemented in December 2024.
Canoo Inc. (NASDAQ: GOEV) has achieved final activation of its Oklahoma City manufacturing facility as a Foreign-Trade Zone (FTZ), the first automotive FTZ in Oklahoma. This status, approved by U.S. Customs and Border Protection, offers Canoo significant financial and logistical benefits, including:
1. Insulation from import tariffs
2. Deferments and exemptions on imports
3. A 5% reduction in BOM costs for imported parts, improving margins
4. Opportunity for vendors and partners to relocate to Canoo's site
The FTZ activation is part of Canoo's strategy to streamline operations as it scales production of modular electric commercial vehicles for customers in the U.S., UK, Europe, and Middle East.
Canoo Inc. (NASDAQ: GOEV), an electric cargo vehicle manufacturer, has announced significant operational changes. The company will relocate 137 engineering positions from California to Oklahoma and Texas, with the majority moving to Oklahoma. This move aims to co-locate engineering and manufacturing at their 500,000 square foot facility in Oklahoma City, enhancing operational efficiency and collaboration.
Canoo is also relocating its corporate headquarters to Justin, Texas, where the executive leadership team has been since 2021. The company is actively hiring, with plans to expand to approximately 150 open positions in the near future. Canoo's vehicles are currently being used by notable clients including USPS, NASA, and the U.S. Army.
Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, has announced its participation in several upcoming investor conferences. The schedule includes:
- Emerging Growth Conference (Virtual) on August 22, 2024
- HC Wainwright Global Investment Conference in New York City from September 9-11, 2024
- LD Micro Main Event in Los Angeles from October 28-30, 2024
- Benchmark Discovery Conference in New York City on December 11, 2024
- ROTH Deer Valley Conference in Deer Valley from December 11-14, 2024
CFO Greg Ethridge will speak at the Emerging Growth Conference. The company will also host one-on-one investor meetings at selected events. Live and archived webcasts will be available on Canoo's investor relations website.
Canoo Inc. (Nasdaq: GOEV) reported its Q2 2024 financial results, showing progress in customer acquisition and operational efficiency. The company achieved a quarterly revenue record of $605K and improved its Adjusted EBITDA by 38% year-over-year to $(38.6) million. Canoo reduced its operating expenses by 33% compared to Q1 2024 and decreased total quarterly cash outflow by 49% year-over-year.
Key developments include successful pilots with international customers, advancements in large commercial fleet acquisitions, and the relocation of headquarters from California to Texas. The company also made progress in its Oklahoma City facility and received approval for Foreign Trade Zone activation.
Canoo reaffirmed its cash flow guidance for 2024 and expects Adjusted EBITDA to be between $(120) million to $(140) million for the second half of the year.
Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, has announced its upcoming Q2 2024 earnings conference call and webcast. The event is scheduled for Wednesday, August 14, 2024, after the market close. The financial results for the quarter ending June 30, 2024, will be reported, followed by a conference call and webcast at 5 p.m. ET.
Key executives participating in the call include Tony Aquila (Investor, Executive Chairman, and CEO), Greg Ethridge (CFO), and Ramesh Murthy (SVP Finance and Chief Accounting Officer). Investors can access the slide presentation and webcast link on Canoo's Investor Relations website. To join the call, dial 1-877-407-9169 (U.S.) or 1-201-493-6755 (International) with Conference ID 13748003.
Canoo (Nasdaq: GOEV), an advanced mobility company, has announced a commercial fleet order from Go2 Delivery. The agreement involves the initial purchase of five fully-electric Class 1 Delivery Vans, with the potential to purchase up to 85 additional vans. Go2 Delivery aims to use Canoo’s Lifestyle Delivery Vehicle 130 (LDV130) to enhance their operational efficiency and reduce environmental impact, particularly in the healthcare sector in Virginia and the Chesapeake Bay area.
The LDV130 vehicles offer durability, range, reliability, and cargo space, meeting the rigorous demands of Go2 Delivery’s logistics operations. Go2 Delivery provides same-day courier and last-mile delivery services to B2B and B2C customers in retail, healthcare, and e-commerce industries.
Canoo (Nasdaq: GOEV), a high-tech advanced mobility company, announced its inclusion in the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes. This addition follows the annual Russell US Indexes reconstitution, effective from the opening of US equity markets on July 1, 2024. The reconstitution captures the 4,000 largest US stocks, ranking them by total market capitalization as of April 30. Membership in the Russell 3000® Index ensures automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, along with appropriate growth and value style indexes. The Russell indexes, managed by FTSE Russell, are benchmarks for approximately $10.5 trillion in assets as of December 2023. These indexes are important for investment managers and institutional investors using them for index funds and active investment strategies.
Canoo has achieved significant recognition at the Red Dot Design Awards 2024, winning the 'Best of the Best' award for its Lifestyle Delivery Vehicle 190 (LDV 190) in the Commercial Vehicles category. The LDV 190 is also nominated for the prestigious Red Dot: Luminary award. Additionally, Canoo's American Bulldog electric pickup truck has been honored as a 2024 Red Dot winner.
The Red Dot Award is a global competition celebrating excellence in design, with a prestigious jury evaluating submissions based on innovation, quality, and functionality. Canoo’s LDV 190, designed for versatility and sustainability, highlights eco-friendly materials and advanced technology like steer-by-wire. Its spacious and ergonomic interior caters to drivers of all abilities. The American Bulldog combines rugged utility with modern aesthetics, inspired by military technology.
Canoo's consistent recognition in previous years underscores its commitment to high design standards and innovation in the electric vehicle market.
Canoo, a high-tech advanced mobility company, has acquired new and like-new manufacturing assets at its Oklahoma City facility, previously owned by Arrival Automotive UK This includes 44 containers with 226 lots of advanced manufacturing equipment, such as state-of-the-art robots. These assets aim to enhance production scalability, reduce lead times, and lower unit costs for Canoo's electric cargo vehicles, LDV130 and LDV190. Canoo emphasizes a domestic-focused supply chain with over 90% of parts from the U.S. or allied nations and plans to continue opportunistic acquisitions of advanced equipment. The initiative is part of Canoo's strategy to bolster automation and scale 'Made-in-America' EV production.
Canoo (Nasdaq: GOEV), an advanced mobility company, has announced its participation in two investor conferences in June 2024. The Stifel Cross Sector Insight Conference in Boston will see CFO Greg Ethridge engage in a fireside chat on June 4 at 4:10 p.m. ET. The Sidoti Small Cap Conference, held virtually, will feature both CFO Greg Ethridge and VP of Capital Markets and Investor Relations Jonathan Wolff on June 12 at 3:15 p.m. ET. They will present a 30-minute session followed by a Q&A and host one-on-one meetings with investors. Presentations will be webcast live and archived on Canoo's investor relations webpage.