EV startup Canoo Inc announced it was accelerating its production plans in the US while ending its deal for VDL Nedcar in Netherlands. (Press Release)
The Arkansas-based company said the shift from using VDL Nedcar overseas to relying on the plants it is building in northwest Arkansas and Pryor, Oklahoma, was made to reduce supply-chain vulnerabilities and overseas shipping costs, and increase speed to market for its vehicles.
“The initiatives announced today are another step in executing our strategy of reducing risk and increasing certainty,” Chief Executive Tony Aquila said in a statement. “We have concluded that building in America is better aligned with our mission.”
Canoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.