Canoo (GOEV) Debuts Electric Pickup-Truck, To Rollout in 2023 – March 11, 2021

Canoo Inc.. (GOEV short quoteGOEV – – Free Report) recently unveiled its all-electric pickup truck during the Motor Press Guild’s Virtual Media Day.

This new truck is the third vehicle based on Canoo’s proprietary multi-purpose platform. The California-based electric vehicle (EV) company will take pre-orders in the second quarter of 2021, and the electric truck is expected to arrive by 2023.

Main features and specifications of the truck

Canoo’s pickup has two or rear engine configurations. With the dual engine option, the pickup offers 600 horsepower and 550 ft-lb of torque. It will have a payload capacity of approximately 1,800 pounds. The company currently promises more than 200 miles of range on a single charge.

The truck is equipped with unique features and components that take advantage of every inch of the company’s exclusive platform. The first unique feature is the pull-out bed extension. The standard bed length of the pickup is six feet. However, a second layer of hatchback doors can swing out, extending the bed to eight feet while keeping it closed. Drivers can use a hidden side step to get into bed easily. In addition, the side step offers modest storage for smaller items such as cold drinks or personal electronics. The forklift offers storage space for tools or first aid kits and thus offers a high level of customer benefit. Another feature of the loading area is the modular partition system from Canoo. These room dividers help keep items separate and secure. The bed wall is also equipped with modular wheel chocks to secure bicycles. Other notable features of the pickup include a charging port with multiple accessories, integrated ceiling and bed surround lighting, a roof rack and a camper shell.

Canoo: The rising star in the EV market

Canoo, originally founded in 2017, went public last year after merging with a special-purpose acquisition company in late 2020.

The company plans to launch its first lifestyle vehicle in late 2022, followed by a delivery vehicle in 2023 and a sports vehicle in 2025. Canoo plans to make its first vehicle available through an all-inclusive subscription fee. It is also likely to be considered to license its platform to other OEMs.

The EV startup intends to develop various consumer and commercial vehicles based on its modular skateboard platform, which combines batteries in the chassis of the EV. Canoo’s EV platform functionally integrates all critical components of an electric drive train in order to be as efficient as possible. This enables the company to develop highly customized vehicles that can serve multiple purposes.

While Canoo has much to prove, its proprietary technology platform, plans to offer subscription services, and license the platform to other EV manufacturers give it an edge over its competitors.

Canoo, with whom the room shares Workhorse group (WKHS quick quoteWKHS – – Free report), Polaris (PII short quotePII – – Free report) and ford (F short quoteF. – – Free Report), currently has a Zacks rank of 3 (Hold). You can see The full list of today’s Zacks # 1 Rank (Strong Buy) stocks can be found here.

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