Canoo unveils a robust electric pickup truck
【Summary】EV maker Canoo has unveiled its new "American Bulldog" electric pickup truck, showcasing its rugged and innovative design. Despite facing financial pressure, Canoo has secured contracts with the US Army and NASA, and added clients such as Walmart. Canoo's lineup includes the American Bulldog, which is built on the same platform as its other vehicles, and features a strong and determined design.
EV maker Canoo unveiled its latest model, the "American Bulldog" electric pickup truck on Friday. Canoo says its new electric truck is "woven into the American spirit" with grit and innovation.
After settling a multiyear SEC investigation earlier this year, Canoo is ready to put the past behind it.
The struggling EV startup delivered vehicles to the US Army and NASA. It has also added several clients, including Walmart.
In August, Canoo secured $113 million in combined incentives for its EV assembly and battery module manufacturing plants in OKC and Pryor, respectively. It also introduced its LDV 190, expanding its reach into the Class 3 electric cargo van market.
The LDV 190 shares the same Mutli-Purpose platform as its smaller LDV 130 but features a "beefed-up suspension" to handle the increased payload.
Canoo's MPP serves as the base for all of its vehicles. Its lineup includes the Lifestyle Vehicle (Delivery, Base, Premium, and Adventure), Multi-Purpose Delivery Vehicle, and pickup.
On Friday, Canoo unveiled its latest innovation, the American Bulldog electric truck. The EV pickup is a derivative of the Screaming Eagle that was delivered to the US Army in 2022 for testing.
The EV maker says the American Bulldog "builds upon Canoo's rapid product development and real-world testing."
"Like the American Bulldog, this vehicle is loyal and courageous. It's woven into the American spirit and reflects this country's innovation," Tony Aquila, Canoo's CEO, explained. "When we say ‘Made in America,' we mean it."
The electric pickup "performs like a battleship" with a strong and rugged design. Canoo compares the vehicle's "strength" and "determination" to American workers, reminiscent of a Chevy Silverado or Ford F-150 ad.
Although the American Bulldog is sleek and seems like a functional idea, will we see it hit the streets? It's not likely.
Canoo, like other EV startups, is facing severe financial pressure. The company just began generating revenue from its first deliveries through a contract with the US government.
The company lost $161.6 million through the first half of the year, with no revenue generated. Its production plan requires significant funding, and Canoo had about $5 million in cash and equivalents at the end of June.
The company has repeatedly doubted its ability to continue operations due to a lack of funding over the past few years.
Canoo reports third-quarter earnings on November 14, so we will learn more about the company's financial situation next week.
Meanwhile, if Canoo can survive, the company expects to benefit from its "Made in America" strategy. Canoo customers benefit from the IRA's Commercial Clean Vehicle Tax Credit. Customers who buy a Canoo EV are eligible for the $7,500 tax credit.
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