USPS Buys Canoo Right-Handed LD & Canoo Supplie Kingbee

Canoo Inc. (NASDAQ:  GOEV), a leading high-tech advanced mobility company, today announced the U.S. Postal Service will purchase six (6) battery-electric Canoo vehicles. The Postal Service will take delivery of these six right-hand drive versions of the LDV 190 in Q1 2024.

Canoo is honored to participate as one of the potential suppliers in the groundbreaking electrification and modernization of the U.S. Postal Service’s delivery fleet as announced by the USPS on January 22, 2024. This effort is part of the USPS’s $40 billion investment strategy to upgrade and improve the organization’s processing, transportation, and delivery networks.

The vehicles for USPS will leverage Canoo’s patented technologies to deliver enhanced functionality, safety, and ergonomics.

“The multi-purpose platform with steer-by-wire technology and a unique low-profile suspension system allows for a readily configurable right-hand drive system while maintaining desired roll and ride stability,” said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo.

Recently, the United States Postal Service (USPS), alongside White House officials, unveiled its first set of electric vehicle (EV) charging stations at its South Atlanta Sorting and Delivery Center (S&DC). Charging stations like these will be installed at hundreds of new S&DCs across the country throughout the year and will power what will be the nation’s largest EV fleet. Electrification and modernization of the Postal Service’s delivery fleet is part of the organization’s $40 billion investment strategy to upgrade and improve the USPS processing, transportation, and delivery networks.

Canoo News

Kingbee, a national work-ready van rental provider, will begin using Canoo LDV 130 vehicles in its fleet. Canoo delivered vehicles to Kingbee consistent with its schedule as part of a phased ramp-up manufacturing approach in Oklahoma City. Additional customer deliveries will be scheduled through 2024.

Canoo announced the purchase of manufacturing assets at dramatically reduced prices to scale production at its Oklahoma City facility.

Canoo purchased a cache of manufacturing assets, from robotics to controls processing equipment that will be used to build vehicle cabins. As Canoo scales manufacturing to make additional customer deliveries in 2024, the company is continuously exploring ways to acquire high-value equipment at reduced prices through alternative routes. Canoo purchased the assets at a discounted price of over 80 percent of estimated value.

Canoo’s mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with their pioneering technologies, unique design, and business model that spans multiple owners across the full lifecycle of the vehicle. Canoo designed a modular electric platform that is purpose-built to maximize the vehicle interior space and is customizable for all owners in the vehicle lifecycle, to support a wide range of business and consumer applications.

Canoo has teams in California, Texas, Michigan, Oklahoma, and Arkansas.