Written by Cláudio Afonso | LinkedIn | X
Greg Ethridge, CFO of the electric vehicle (EV) startup Canoo, shared on LinkedIn this Monday that the management will be visiting the United Kingdom “this week” as the company aims to start vehicle pilots in the country by the year end.
“Excited for our team to be back in the UK this week,” the chief financial officer wrote on Monday.
Last month, Ehtridge revealed in a webinar that the company expects “to have vehicles” in the UK and “pilot with them by the end of the year”.
“We’ve been able to enter into two very respectable and supportive markets, the UK and Saudi Arabia,” the CFO stated before saying that Canno is focused on large commercial fleets such as USPS and Walmart.
Besides the UK, the company led by Tony Aquila is also eyeing the Middle East region following its partnership with Red Sea Global. Last April, Canoo announced that Red Sea Global would pilot its Lifestyle Vehicle (LV), Lifestyle Delivery Vehicle (LDV) 190, and the Bulldog pickup truck.
“One [of the reasons for Canoo to focus on the UK and Saudi Arabia markets] is they’re very supportive areas. Two, our product is a perfect fit for both markets. Three, we get additional test data,” he explained.
Ethridge detailed that the pilots do not require a big investment they allow the company to start “building relationships with the largest fleets in these markets”.
Last week, the company said it secured approval for the final activation of its Oklahoma City operations as a Foreign-Trade Zone (FTZ) as it “scales production” for global customers.
Earlier this month, Canoo said it withdrew its guidance for revenue, manufacturing run rates, as well as the production and delivery of vehicles for 2024 and subsequent periods.
Written by Cláudio Afonso | LinkedIn | X
