JUSTIN,
Texas, Feb. 1, 2023 /PRNewswire/ -- The Defense
Innovation Unit awarded Canoo (NASDAQ: GOEV), a high-tech advanced
mobility company, a contract to supply battery modules for analysis
and demonstration. This award supports the U.S. Department of
Defense focus to incorporate scalable and adaptable capabilities in
tactical environments.
"We are very proud to be selected by the Department of Defense
and to contribute to our country's global defense technology
leadership. This award is another example of our focus and
commitment to innovation. We've worked hard and continue to develop
our patented technologies and ability to deliver flexible, on
demand energy solutions that are multi-purpose capable, to serve
America's interests and its allies around the world," said Tony
Aquila, Chairman & CEO at Canoo.
We are proud to be selected by the DoD and
to contribute to our country's global defense technology
leadership.
Canoo's proprietary battery system is modular to support
different vehicle configurations and engineered to provide industry
leading energy density. The system is designed to be flexible and
compatible with cells from leading battery providers and engineered
to evolve with changes in cell size and chemistry as the industry
matures, scales and reduces costs.
This contract follows Canoo's delivery of a Light Tactical
Vehicle (LTV) to the U.S. Army in November, and its selection to
provide NASA with crew transportation vehicles to support the
Artemis lunar landing missions.
About Canoo
Canoo's mission is to bring EVs to Everyone. The company has
developed breakthrough electric vehicles that are reinventing the
automotive landscape with bold innovations in design, pioneering
technologies, and a unique business model that spans the full
lifecycle of the vehicle. Distinguished by its experienced team
from leading technology and automotive companies – Canoo has
designed a modular electric platform purpose-built to deliver
maximum vehicle interior space that is customizable across all
owners in the vehicle lifecycle to support a wide range of vehicle
applications for consumers and businesses.
Canoo has teams in California,
Texas, Michigan, Oklahoma and Arkansas. For more information, please visit
www.canoo.com. For Canoo press materials, including photos, please
visit press.canoo.com. For investors, please visit
www.investors.canoo.com.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward- looking statements may be identified by the use of words
such as "estimate," "plan," "project," "forecast," "intend,"
"will," "expect," "anticipate," "believe," "seek," "target" or
other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial and
performance metrics, expectations and timing related to commercial
product launches and the achievement of operational milestones,
including the ability to meet and/or accelerate anticipated
production timelines, Canoo's ability to capitalize on commercial
opportunities, current or anticipated customer orders, and
expectations regarding the development of facilities. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of Canoo's management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Canoo. These
forward-looking statements are subject to a number of risks and
uncertainties, including changes in domestic and foreign business,
market, financial, political and legal conditions; Canoo's ability
to access future capital, via debt or equity markets, or other
sources; the rollout of Canoo's business and the timing of expected
business milestones and commercial launch; future market adoption
of Canoo's offerings; risks related to Canoo's go-to-market
strategy and manufacturing strategy; the effects of competition on
Canoo's future business, and those factors discussed under the
captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in Canoo's Annual
Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the U.S. Securities
and Exchange Commission (the "SEC") on March
1, 2022, as well as its past and future Quarterly Reports on
Form 10-Q and other filings with the SEC, copies of which may be
obtained by visiting Canoo's Investors Relations website at
investors.canoo.com or the SEC's website at www.sec.gov. If any of
these risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Canoo does not presently know or that Canoo currently believes are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Canoo's expectations, plans or
forecasts of future events and views as of the date of this press
release. Canoo anticipates that subsequent events and developments
will cause Canoo's assessments to change.
However, while Canoo may elect to update these forward-looking
statements at some point in the future, Canoo specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Canoo's assessments as of
any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
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SOURCE Canoo
