Canoo Will Construct Lifestyle EVs In Oklahoma

Canoo, a company that makes electric vehicles, has just signed a long-term deal with AFV Partners to build its Lifestyle Vehicles in Oklahoma City. Canoo CEO Tony Aquila is pleased to announce the opening of its second production plant in Oklahoma City since its products have been so successful in a range of industries.

Out of the total 630,000 square feet, Canoo will use 500,000 for its initial move-in. The EV manufacturer estimates that 500 workers will be hired at the beginning, and that number will rise in the following months.

As a brief history, Canoo was founded in 2011, and just a few years later, the company signed a deal with Hyundai Motor Group to work with them on making a skateboard platform. But Hyundai terminated the contract for reasons that were not disclosed. Canoo's finances suffered greatly during the subsequent years, yet the company managed to persevere. Canoo witnessed its stock price decrease in February when the company decided to sell reduced shares to generate $52.5 million. 

Canoo and the U.S. Army signed a contract for a brand-new Light Tactical Vehicle last summer, and the LTV demonstration vehicle was shipped out that year. Also in 2022, Canoo and NASA signed a contract committing the company to providing one of its vehicles to transport the Artemis moon explorers to the launch site. Similarly, Walmart has placed an order for 4,500 Canoo delivery vehicles, with initial deliveries expected this year.