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By Meg Flippin, Benzinga
Learn more about Canoo Inc. by checking out its Investor Relations Website.
From delivery vans that have driver-side storage, built-in removal tools and hanging storage to pickup trucks with fold-down workspaces, hidden storage and expandable cargo space, Canoo Inc. (NASDAQ: GOEV) is reimagining the transportation market with its suite of fully-electric lifestyle delivery vehicles (LDVs) and democratized battery power solutions.
Justin, Texas-based Canoo (with its main manufacturing in Oklahoma City and battery module manufacturing in Pryor, Oklahoma) is bringing electric vehicles, namely delivery vehicles in the Class 1 and 2 categories, to large commercial and government fleets via a proprietary modular electric platform designed to maximize vehicle interior space, enabling it to be customizable across owners and applications. The company offers a lineup of electric delivery vehicles targeting smaller more flexible uses, including last mile delivery.
EVs With A Twist
Take Canoo’s LDV190 for starters. The newest to the Canoo lineup, the LDV 190 is a long-haul delivery vehicle that gets more than 200 miles per charge. But the range and horsepower aren’t what makes the LDV190 and its other EVs different. It’s the flexibility and space within the vehicle where the company says things get interesting.
Canoo’s delivery vehicles are built on a modular platform allowing customizable configurations whether you are hauling large packages or racks of clothing. Foldable and retractable storage and tables on the exterior of the vehicles make Canoo’s vehicles unique in the market, the company says. It also sticks to a clean, minimalist shape that has received design award recognition, most recently several Red Dot Design Awards. The Red Dot Award is an annual international competition recognizing excellence in design and among the world’s largest design competitions.
Canoo’s steer-by-wire technology is not common in vehicles today. Canoo says using steer-by-wire technology reduces moving parts and cabin intrusion, resulting in more usable interior space, better driver ergonomics and the addition of a panoramic window to improve road visibility. This type of technology has been used in aviation for decades, but Canoo is the first to bring it to a production vehicle.
The LDV190 offers multiple cargo configurations including shelves and racks, and advanced safety features such as blind spot monitoring and traction stability control. Canoo is going after the delivery market with this electric LDV and counts the U.S. Post Office (USPS) as a customer. Canoo has already delivered six right-hand drive versions of the LDV 190 to the USPS as part of its move to electrify and modernize the postal service’s delivery fleet, and it will likely run another RFP for vehicles later this year where Canoo will compete. The USPS is investing $40 billion to upgrade and improve the organization’s processing, transportation and delivery networks.
Success With Walmart And Other Last Mile Delivery Companies
The LDV130 is another electric lifestyle delivery vehicle in Canoo’s lineup. This one is more compact and is designed for the worker and last-mile deliveries. Go2 Delivery, a logistics solutions provider with a sustainability mission, recently signed a definitive agreement to purchase five LDV130s with the potential to purchase up to an additional 85 vans. Go2 Delivery will integrate Canoo’s LDV130 into its delivery fleet to enhance operational efficiency, provide eco-friendly deliveries for customers and lower its environmental impact, Canoo said.
Canoo’s LDVs have been in deep testing with the e-commerce operation of Walmart Inc. (NYSE: WMT) which inked a deal with Canoo a couple of years ago to purchase 4,500 LDVs. Walmart has an option to buy up to 10,000. Canoo is part of Walmart’s plan to achieve zero emissions by 2040, the companies said when announcing the deal.
Consumers aren’t forgotten in Canoo’s lineup. The LV is Canoo’s minivan of sorts. It includes Canoo’s steer-by-wire system, a wide field of view, a panoramic sunroof and five- and seven-seat configurations. This variant was customized and sold to NASA as the Crew Transportation Vehicles (CTVs) that will take the Artemis Mission astronauts to the launchpad and has effectively replaced the NASA Astrovan. The Canoo Pickup and American Bulldog were designed for everything and came with built-in draws, foldable tables, modular storage and a pull-out bed extension. A version of the pickup, the Screaming Eagle, was sold to the U.S. Army for testing for their Light Tactical Vehicle (LTV) program.
Canoo’s line-up of fully electric LDVs is designed to usher in a new era of sustainability for the commercial transportation market. Taking a page from Tesla (NASDAQ: TSLA), Canoo is betting the modular design and the ability to customize the cargo space on the fly will appeal to companies and government customers looking to lower their carbon footprint. Keep a look out for more Canoo Inc. announcements here.
Featured photo by Canoo.
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