JUSTIN, Texas – Canoo (Nasdaq: GOEV), a company manufacturing breakthrough electric vehicles (EVs), today announced it has reached an agreement with Panasonic to supply batteries for its Lifestyle Vehicle. Scheduled for production in Q4 2022, the Lifestyle Vehicle will be manufactured by VDL Nedcar and will support US and EU product demand.
“Our team is very focused on continuous optimization and creating IP in the areas of battery module technology, higher energy density and on a flexible thermal management platform that contributes to enhanced safety and lower cost of ownership,” said Tony Aquila, Investor, Chairman & CEO, Canoo Inc. “We designed our battery systems to account for future advancements in cell technology and today we are excited to announce the selection of Panasonic, a global technology company and a leader in the cylindrical lithium-ion battery industry, as our partner. This decision is based on extensive testing as well as our outlook of Panasonic’s innovation that aggressively focuses on the factors mentioned above and its leadership team. With billions of cells on the road, they are a proven pioneer and world-class manufacturer of what we believe are one of the most durable electric vehicle batteries.”
“We look forward to working with Canoo as they bring their multipurpose platform to market,” said Bob Rauh, Vice President, Energy Division of North America, Panasonic Corporation of North America. “At Panasonic, we focus on moving the world forward and producing the highest quality batteries for electric vehicles. We are honored that Canoo has chosen Panasonic and we are inspired by their shared commitment to bring electrification to the auto market for everyone. The growth in mobility electrification supports our commitment to contributing to society by reducing global carbon emissions.”
Canoo developed proprietary battery system technologies in its multipurpose platform which includes a structurally integrated battery module with built-in safety features. The engineering team focused on reducing the cost per unit of energy stored, while maintaining high performance and safety, reliability, durability and adaptability with future cell technologies. Rather than placing battery modules into an enclosure that is then sealed and bolted into the chassis, Canoo integrates the battery modules directly into the platform structure. Moving away from a box-in-a-box design provides several critical advantages, including class-leading specific energy, cost optimization, space savings that allow for a higher level of functional integration of components in the platform and significant reductions in mass, which each in turn improve vehicle range and safety.
A number of battery-related safety features are integrated into the platform architecture, including a high-strength steel frame and innovative crash features, such as a proprietary hollow-can crumple zone designed to protect the battery during side collision events to better protect passengers and battery integrity. Canoo’s unique battery compartment design also makes it possible to easily perform service repairs and upgrades to the battery at the module level creating cost efficiencies for multiple owners.
