Canoo Selects Panasonic To Supply Batteries For Its First Lifestyle Vehicle

Printed: Oct. 25, 2021 at 9:00 AM EDT|Up to date: 16 minutes in the past

JUSTIN, Texas, Oct. 25, 2021 /PRNewswire/ — Canoo (Nasdaq: GOEV), an organization manufacturing breakthrough electrical autos (EVs), right this moment introduced it has reached an settlement with Panasonic to produce batteries for its Life-style Automobile. Scheduled for manufacturing in This fall 2022, the Life-style Automobile will probably be manufactured by VDL Nedcar and can help US and EU product demand.


Our staff is targeted on steady optimization and creating IP in battery module know-how, larger vitality density…

“Our staff may be very centered on steady optimization and creating IP within the areas of battery module know-how, larger vitality density and on a versatile thermal administration platform that contributes to  enhanced security and decrease price of possession,” mentioned Tony Aquila, Investor, Chairman & CEO, Canoo Inc. “We designed our battery techniques to account for future developments in cell know-how and right this moment we’re excited to announce the choice of Panasonic, a worldwide know-how firm and a pacesetter within the cylindrical lithium-ion battery trade, as our companion. This choice relies on intensive testing in addition to our outlook of Panasonic’s innovation that aggressively focuses on the components talked about above and its management staff. With billions of cells on the street, they’re a confirmed pioneer and world-class producer of what we consider are one of the sturdy electrical car batteries.”

“We sit up for working with Canoo as they create their multipurpose platform to market,” mentioned Bob Rauh, Vice President, Power Division of North America, Panasonic Company of North America. “At Panasonic, we give attention to shifting the world ahead and producing the very best high quality batteries for electrical autos. We’re honored that Canoo has chosen Panasonic and we’re impressed by their shared dedication to convey electrification to the auto marketplace for everybody. The expansion in mobility electrification helps our dedication to contributing to society by decreasing world carbon emissions.”

Canoo developed proprietary battery system applied sciences in its multipurpose platform which features a structurally built-in battery module with built-in security options. The engineering staff centered on decreasing the price per unit of vitality saved, whereas sustaining excessive efficiency and security, reliability, sturdiness and adaptableness with future cell applied sciences. Quite than inserting battery modules into an enclosure that’s then sealed and bolted into the chassis, Canoo integrates the battery modules straight into the platform construction. Transferring away from a box-in-a-box design gives a number of essential benefits, together with class-leading particular vitality, price optimization, area financial savings that enable for a better stage of purposeful integration of elements within the platform and important reductions in mass, which every in flip enhance car vary and security.

Quite a few battery-related security options are built-in into the platform structure, together with a high-strength metal body and progressive crash options, resembling a proprietary hollow-can crumple zone designed to guard the battery throughout aspect collision occasions to higher shield passengers and battery integrity. Canoo’s distinctive battery compartment design additionally makes it attainable to simply carry out service repairs and upgrades to the battery on the module stage creating price efficiencies for a number of homeowners.

About Canoo 
Canoo’s mission is to convey EVs to Everybody. The corporate has developed breakthrough electrical autos which can be reinventing the automotive panorama with daring improvements in design, pioneering applied sciences, and a novel enterprise mannequin that spans all homeowners within the full lifecycle of the car. Distinguished by its skilled staff from main know-how and automotive firms – Canoo has designed a modular electrical platform purpose-built to ship most car inside area that’s customizable throughout all homeowners within the car lifecycle to help a variety of car purposes for customers and companies.

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Ahead-Trying Statements  
The data on this press launch consists of “forward-looking statements” throughout the which means of the “protected harbor” provisions of the US Personal Securities Litigation Reform Act of 1995. Ahead-looking statements could also be recognized by way of phrases resembling “estimate,” “plan,” “challenge,” “forecast,” “intend,” “will,” “anticipate,” “anticipate,” “consider,” “search,” “goal” or different related expressions that predict or point out future occasions or tendencies or that aren’t statements of historic issues. These forward-looking statements embrace, however usually are not restricted to, statements concerning expectations and timing associated to business product launches and achievement of different operational milestones, technological benefits relative to the market, and the technical efficiency of Canoo’s autos and associated subsystems, together with that of our suppliers. These statements are primarily based on varied assumptions, whether or not or not recognized on this press launch, and on the present expectations of Canoo’s administration and usually are not predictions of precise efficiency. These forward-looking statements are offered for illustrative functions solely and usually are not meant to serve as, and should not be relied on by any investor as, a assure, an assurance, a prediction or a definitive assertion of reality or chance. Precise occasions and circumstances are tough or unimaginable to foretell and can differ from assumptions. Many precise occasions and circumstances are past the management of Canoo. These forward-looking statements are topic to quite a lot of dangers and uncertainties, together with modifications in home and overseas enterprise, market, monetary, political and authorized circumstances; failure to appreciate the anticipated advantages of the enterprise mixture with Hennessy Capital Acquisition Corp. IV; the rollout of Canoo’s enterprise and the timing of anticipated enterprise milestones and business launch; future market adoption of Canoo’s choices; dangers associated to Canoo’s go-to-market technique; the consequences of competitors on Canoo’s future enterprise; the flexibility to subject fairness or equity-linked securities, and people components mentioned  below the captions “Danger Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” in Canoo’s Annual Report on Kind 10-Okay for the fiscal 12 months ended December 31, 2020 filed with the U.S. Securities and Alternate Fee (the “SEC”) on March 31, 2021, in addition to its different filings with the SEC, copies of which can be obtained by visiting Canoo’s Traders Relations web site at or the SEC’s web site at If any of those dangers materialize or our assumptions show incorrect, precise outcomes may differ materially from the outcomes implied by these forward-looking statements. There could also be extra dangers that Canoo doesn’t presently know or that Canoo presently believes are immaterial that might additionally trigger precise outcomes to vary from these contained within the forward-looking statements. As well as, forward-looking statements replicate Canoo’s expectations, plans or forecasts of future occasions and views as of the date of this press launch. Canoo anticipates that subsequent occasions and developments will trigger Canoo’s assessments to vary. Nevertheless, whereas Canoo could elect to replace these forward-looking statements in some unspecified time in the future sooner or later, Canoo particularly disclaims any obligation to take action. These forward-looking statements shouldn’t be relied upon as representing Canoo’s assessments as of any date subsequent to the date of this press launch. Accordingly, undue reliance shouldn’t be positioned upon the forward-looking statements.

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