A Futuristic EV You Dont Want To Miss

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#canoo #canoo design #ev car #huyndai manufacture #ipo company #luxury car

Electric-vehicle manufacturer Canoo revealed Tuesday morning it would go public later this year at a price of $2.4 billion. It is joining a group of EV producers who make the transition to public markets. Unlike other recent entrants, Canoo must use an unconventional mode of listing that lacks a conventional IPO. 

Canoo’s unique strategy partly revolves around what it calls its “skateboard architecture,” essentially a flat chassis that contains all of a vehicle’s functional elements. This allows for bodies customized to a range of applications — which Canoo calls “top hats” — to be constructed on top of a single frame form. Canoo says that this modular model would allow the business to service at a reduced cost of several market segments.

Canoo is also noteworthy for its proposed payment model, which it defines as month-to-month and “commitment-free,” with repair, insurance, and charges included. Nikola is preparing a similar payment model, but Nikola is primarily concentrating on small electric freight trucks and is likely to demand more consumer attention. In comparison, Canoo’s first car will be a consumer-focused “lifestyle car” dubbed the Canoo, which is scheduled to ship in 2022. The vehicle is quite unique, basically, a smoothed box that takes up the entire chassis space. Canoo said this is meant to exploit the possible promise of autonomous vehicles, and some of the design art of Canoo shows the car turned into something similar to a moving lounge — with no driver.

This would be relatively new for customers to rent a luxury vehicle on a monthly basis, thus moving towards a broader movement of recurring rental sales that has been adopted by developers and investors. Nevertheless, should Canoo ‘s goods fail, or customers become flighty, the no-compromise approach will also tend to face different risks.

Canoo says its second vehicle, coming in 2023, will be an urban commercial delivery vehicle. Canoo will be making use of an unusual but increasingly popular method to the public. Instead of an initial public offering of new Canoo shares, the car company will be purchased by Hennessy Capital Acquisition Corp IV, a so-called Special Purpose Acquisition Corporation (SPAC), which has raised funds for that purpose. The combined business would be listed as Canoo Inc. and stock exchange trade on Nasdaq.

Credit: Canoo Official Web

Electric-vehicle startups Nikola and Fisker have already used the SPAC method for public listing this year. A SPAC listing is quicker than a conventional IPO, and, in particular, the electric-vehicle industry has reached a period in which speed to market appears to be necessary. Tesla, the category’s leader, has undergone rapid stock development over the last 12 months, resulting in hopes of reaching the S&P 500. Many electronics producers seem willing to draft on the performance. Electric-vehicle startups Nikola and Fisker have already used the SPAC method for public listing this year. A SPAC listing is quicker than a conventional IPO, and, in particular, the electric-vehicle industry has reached a period in which speed to market appears to be necessary. Tesla, the category’s leader, has undergone rapid stock development over the last 12 months, resulting in hopes of reaching the S&P 500. Many electronics producers seem willing to draft on the performance.

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