Investments will bring EV technology and new jobs to the state
JUSTIN, Texas, November 15, 2021 / PRNewswire / – Canou (Nasdaq: GOEV), a maker of revolutionary electric vehicles (EVs) that are reinventing mobility, today announced it will expand its offering Oklahoma partnership to include new R&D, software development, customer support and financing centers. The investments are expected to create at least 700 additional well-paying jobs in the state.
“Oklahoma is rapidly becoming a leading site for global innovation, supported by a group of engaged and inspiring companies, families, business leaders and governments, ”said Tony Aquila, Investor, President- Managing Director of Canoo, Inc. “These transformational partnerships have helped build a skilled workforce and excellent research universities, Oklahoma the right place to develop cutting edge software for our complete EV solutions. “
Canoo drives innovation in vehicle design, engineering and software development. Situated in Tulsa, R&D and software centers will support technological advancements and spearhead the development of proprietary software that improves vehicle safety and efficiency for customers. The customer support and financing center will also be located at Oklahoma.
“I am happy that Canoo continues to recognize Oklahoma is the right place to expand its operations and create hundreds of additional, well-paying jobs for our citizens ”, Oklahoma Governor Kevin stitt noted. “Chairman and CEO of Canoo Tony aquila continues to be a great partner as we diversify oklahoma economy and increase our presence as a destination for global innovation. “
Today’s announcement builds on the strong partnership between Canoo and Oklahoma. In June 2021, Canoo announced Oklahoma as the site of its manufacturing facility in the United States. This facility will create approximately 2,000 well-paying jobs.
“We have worked closely with Tony and the entire Canoo team in the months following the announcement of their initial US manufacturing facility in the Mid-America Industrial Park in Pryor, alright,” noted Scott mueller, oklahoma Secretary of Trade and workforce development. “This additional investment demonstrates their commitment to Oklahoma and the highly skilled workforce we have to offer. Canoo has been instrumental in helping us work with their supplier network to keep our momentum going. Oklahoma has demonstrated that it is becoming a hub for the US electric vehicle industry. “
Canoo’s mission is to bring electric vehicles to everyone. The company has developed revolutionary electric vehicles that reinvent the automotive landscape with bold design innovations, pioneering technologies and a unique business model that spans the entire vehicle lifecycle. Distinguished by its experienced team of leading technology and automotive companies, Canoo has designed a modular electric platform specifically designed to provide maximum vehicle interior space customizable for all owners throughout the vehicle’s lifecycle to support a wide range of vehicle applications for consumers and businesses. . Canoo has offices at California and Texas.
For more information, please visit www.canoo.com. For Canoo press materials, including photos, please visit press.canoo.com. For investors, please visit investors.canoo.com.
The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate”, “plan”, “plan”, “foresee”, “intend”, “expect”, “expect”, “anticipate”, “believe”, “seek”, “Target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. These forward-looking statements include, without limitation, statements regarding estimates and forecasts of financial measures and performance, projections of market opportunities and market share, expectations and timing related to commercial product launches and achievement of other operational milestones, including the ability to meet and / or accelerate planned production deadlines, Canoo’s ability to capitalize on business opportunities, anticipated customer orders and expectations regarding facility development and negotiation, availability or receipt of incentives from the state. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Canoo’s management and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to be used as, and should not be relied upon by any investor as, a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many real events and circumstances are beyond Canoo’s control. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the expected benefits of the business combination with Hennessy Capital Acquisition Corp. IV; the deployment of Canoo’s activities and the schedule of expected commercial milestones and commercial launch; future adoption of Canoo’s offerings by the market; risks associated with Canoo’s go-to-market and manufacturing strategy; the effects of competition on Canoo’s future business; the ability to issue shares or equity-linked securities, and the factors discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the annual report of Canoo on Form 10-K for the fiscal year ended December 31, 2020 filed with the United States Securities and Exchange Commission (the “SEC”) on March 31, 2021, as well as its Quarterly Reports on Form 10-Q and other documents filed with the SEC, copies of which can be obtained by visiting Canoo’s investor relations website at investors.canoo.com or SEC Web at www.sec.gov. If any of these risks materialize or if our assumptions prove to be incorrect, actual results could differ materially from the results suggested by these forward-looking statements. There may be additional risks that Canoo is not currently aware of or that Canoo currently believes are immaterial, which could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements reflect Canoo’s expectations, plans or forecasts of future events and views as of the date of this press release. Canoo anticipates that subsequent events and developments will cause Canoo’s ratings to change. However, although Canoo may choose to update these forward-looking statements at some time in the future, Canoo specifically disclaims any obligation to do so. These forward-looking statements should not be taken as representing Canoo’s assessments as of a date subsequent to the date of this press release. Therefore, one should not place undue reliance on forward-looking statements.
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