Canoo Acquires Additional Advanced Manufacturing Assets at Deep Discounts

March 25, 2024

https://www.globenewswire.com/news-release/2024/03/25/2851441/0/en/Canoo-Acquires-Additional-Advanced-Manufacturing-Assets-at-Deep-Discounts.html

Justin, TX, March 25, 2024 (GLOBE NEWSWIRE) — Canoo Inc. (NASDAQ: GOEV), a leading high-tech advanced mobility company, today announced that it completed the acquisition of a substantial portion of the advanced manufacturing assets that were previously owned by Arrival Automotive UK Limited. The purchased assets will be collected into more than 20 containers and shipped by sea to Canoo’s manufacturing facilities in Oklahoma. As announced in January 2024, Canoo previously acquired substantially all of the new and like-new assets owned by Arrival Automotive USA, Inc. These assets were transported from Arrival’s North Carolina facility and received at Canoo’s Oklahoma facility where commissioning is underway.

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