The start-up EV Canoo presented its electricity collection on March 11, 2021.
Canoe
Shares of Canoo electric vehicle start-ups rose to 14% during intraday trading on Thursday after the automaker detailed plans for a new bubble-looking van.
The unnamed vehicle features a rounded front nose and nose with lighting and design elements similar to an electric van the company announced last year. Canoo said it designed the collection “to be the most heady and space-efficient on the market, with a massive payload capacity with the smallest possible footprint.” The car website Jalopnik compared the design to a van or retro Volkswagen van from the 1950s.
Canoo, which was made public through a reverse merger with Hennessy Capital Acquisition Corp. in December, it is the last company to announce plans for an all-electric pickup truck.
General Motors, Tesla, Rivian and Lordstown Motors are expected to begin production of electric vans later this year, followed by Ford Motor in 2022. Canoo wants to introduce its pickup to the market as early as 2023.
Canoo wants to launch its electricity collection on the market as early as 2023, although no details of the production have been announced.
Canoe
Several of the products have been delayed due to the impacts of the coronavirus pandemic and other circumstances. Elon Musk, CEO of Tesla, said in the company’s most recent earnings call: “So we’ve finished almost all of Cybertruck’s engineering.” He added: “If we’re lucky, we’ll be able to make a few deliveries by the end of this year. But I hope volume production will be in 2022.”
Despite the number of tickets planned, EV pickups are a completely unproven vehicle segment. But legacy automakers, such as GM and Ford, which rely heavily on earnings for profit, are trying to defend their leading market shares against new all-electric companies.
The start-up EV Canoo presented its electricity collection on March 11, 2021.
Canoe
While the Canoo pickup differs from others in terms of its bubble-like design, its advertised 200-mile range is lower than that of other competitors. GM’s Hummer EV pickup will reach more than 350 miles, while Tesla has said its Cybertruck will range from 250 to 500 miles.
Canoo’s first vehicles are expected to be fully electric vans for consumers and deliveries from 2022. The company has not announced specific production plans, but maintains a strategic relationship with car supplier and contract maker Magna International .
– CNBC Lora Kolodny has contributed to this report.