Canoo Selects VDL Nedcar As Manufacturing Partner

Electric vehicle manufacturer Canoo Inc GOEV has announced owned and contract manufacturing plans.
VDL Nedcar, a Netherlands-based automotive manufacturing company, will be Canoo’s contract manufacturing partner.
Nedcar will manufacture the Lifestyle Vehicle for the U.S. & E.U. markets while Canoo builds its US-based mega micro-factory.
Through contract and owned manufacturing, Canoo will meet its commitment to start production and deliver vehicles in Q4, 2022.
The Nedcar facility is slated to build up to 1,000 units for both the U.S. and European markets in 2022, targeting 15,000 units in 2023.
“They are the top trusted European manufacturer building high-quality products for leading OEMs, and they significantly outcompeted the other contenders,” said Tony Aquila, Chief Executive Officer, Canoo.
Price action: GOEV shares are trading lower by 2.75% at $9.92 on the last check Thursday.