Canoo Picks Panasonic To Supply Batteries For Lifestyle Vehicle

Canoo Inc GOEV has signed an agreement with Panasonic Corp PCRFF to supply batteries for its Lifestyle Vehicle. The financial terms of the deal were not disclosed.
The Lifestyle Vehicle, scheduled for production in Q4 2022, will be manufactured by VDL Nedcar and will support the U.S. and EU product demand.
"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," said Tony Aquila, Investor, Chairman & CEO, Canoo.
Price Action: GOEV shares are trading higher by 7.80% at $7.535 on the last check Monday.