JUSTIN, Texas – Canoo, a company manufacturing breakthrough electric vehicle (EVs) today announced owned and contract manufacturing plans. During the company’s first Investor Relations Day, Chairman & CEO Tony Aquila named VDL Nedcar as its contract manufacturing partner. Based in the Netherlands, VDL Nedcar will manufacture the Lifestyle Vehicle for the US & EU markets while Canoo builds its US-based mega microfactory. By parallel pathing contract and owned manufacturing Canoo will meet its commitment to start production and deliver vehicles in Q4, 2022.
“We conducted an exhaustive search, invested significant amounts of time and resources that span the globe, in our search for our Phase 1 contract manufacturer. VDL Nedcar is the right partner,” said Tony Aquila, Investor, Chairman and CEO of Canoo, Inc. “They are the top trusted European manufacturer building high quality products for leading OEMs, and they significantly outcompeted the other contenders. VDL is also independently owned by the van der Leegte family of entrepreneurs – which aligns with our commitment to support businesses that form the backbone of communities. This strategic partnership will enable us to deliver vehicles to market while we build our Phase 2 factory in Oklahoma. It also strongly positions us for geographic expansion in Europe and builds a lasting relationship with VDL Groep of companies. Our investment will help us scale quickly and fulfill our mission to bring affordable, purpose-built EVs to Everyone.”
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Canoo and VDL have been working together on vehicle manufacturability and production planning to successfully lay the groundwork for Canoo’s U.S. manufacturing operations, which will be based in Oklahoma. The Nedcar facility is slated to build up to 1000 units for both the US and European markets in 2022 with a target of 15,000 units in 2023.
“Canoo’s bold approach to designing and building electric vehicles makes them an ideal partner as we work together to shape the future of mobility,” said John van Soerland, CEO of VDL Nedcar. “This partnership advances our strategic vision to provide a contract manufacturing solution and expand our expertise in the EV arena.”
Canoo is entering its GAMMA phase of development and is on track for start of production. The company expects to launch its Lifestyle Vehicle in Q4 2022 followed by the Multi-Purpose Delivery Vehicle and Pickup Truck.