The Canoo van – known as a multifunction delivery vehicle or MPDV, due to the way it can be equipped – is designed for commercial customers.
Canoo
Canoo launched a new delivery van on Thursday, ahead of its public debut on the Nasdaq next week.
The futuristic-looking van – known as a multifunctional delivery vehicle or MPDV, because of the way it can be equipped – is designed for everything from last-mile deliveries to food trucks, according to the California-based company. It is expected to start at about $ 33,000.
“There are many use cases that this vehicle can make,” said Canoo President Tony Aquila, a major investor in the company, during the MPDV video presentation. “I wanted it to look very smart, very modern, but at the same time very accessible.”
Vehicle production is set to begin in 2022 and increase in 2023. The company has not announced specific production plans, but has previously announced a strategic relationship with car supplier and contract manufacturer Magna International.
It is anticipated that such commercial vehicles will be a key factor in the sale of profitable electric vehicles for the automotive industry. It is a segment of start-ups and the old car manufacturers want to enter quickly in the coming years. Ford Motor, which drives commercial vehicle sales, plans to launch an EV van in 2021, followed by an electric version of its F-150 pickup next year.
The interior of the Canoo van, also known as a multifunction delivery vehicle or MPDV.
Canoo
Canoo said the MPDV will be available in two sizes, with variable EV ranges and battery sizes. The company says the range of the smaller truck, known as the MPDV1, is expected to be between 130 miles and 230 miles, while that of the larger truck, the MPDV2, is between 90 miles and 190 miles depending on the size of the battery. Canoo makes reservations and refundable deposits of $ 100 for vehicles on its website.
Canoo is part of a wave of new speculative EV start-ups that intend to enter the market after they will be listed on the reverse exchange with special purpose purchasing companies, also known as blank-check companies. The company has announced a merger agreement with Hennessy Capital Acquisition Corp. in August.
Canoo is expected to be listed on the Nasdaq as a “GOEV” on Tuesday, following a shareholders’ meeting to approve Monday’s merger. The agreement is expected to provide Canoo with approximately $ 600 million to support the production and launch of electric vehicles.
Hennessy shares fell 10% in trading since noon on Thursday to about $ 18. Shares are still up about 69% since the agreement with Canoo was announced on August 18th.
This is Canoo’s second planned vehicle. The first was a smaller, pill-shaped vehicle designed more for consumers. It is expected to be available through a member-only vehicle service from the company starting in 2022, according to Canoo.
During the unveiling of the vehicle on Thursday, the company also teased what appeared to be a car and a double-leaf van.
Correction: This story has been updated to reflect the fact that Canoo’s anticipated symbol is “GOEV”. The company had previously announced a “CNOO” symbol.