Canoo Expands Scope Of Its Partnership With US Department Of Defense Unit

Canoo Inc. GOEV expanded its partnership with the U.S. Department of Defense's Defense Innovation Unit (DIU) to develop a new high-power battery pack.

The DIU partnership expansion further validates Canoo's technological and operational reliability as a select partner for some of the U.S. government's most demanding projects, such as: Delivering the Light Tactical Vehicle (LTV) to the U.S. Army and supplying Crew Transportation Vehicles (CTVs) to the National Aeronautics and Space Administration (NASA) for the Artemis lunar landing missions. 

The company has leveraged its advanced commercial battery and integration expertise to deliver the defense department and its partners a technologically advanced battery pack that can be scaled for operational military platforms.

The battery pack will set the stage for the standardization of energy-dense lithium batteries for the U.S. Navy. 

This follows DIU's testing and analysis of Canoo's proprietary technology since February 2023.

Price Action: GOEV shares are trading lower by 2.3% to $0.5399 on the last check Monday.