Startup company Canoo unveils its first electric pickup truck.

Canoo’s First Electric Pickup Truck Revealed

On March 11th, Canoo unveiled its brand new electric pickup truck during a virtual media day. The new vehicle will be available for pre-order in the second quarter of this year and deliveries are expected to begin as early as 2023. According to AutoForecast Solutions, electric pickups are predicted to make up just over 1% of North American pickup truck production in 2022, and increase to 5.7% in 2028, as competitors begin to enter the market.

As the third model under Canoo’s skateboard platform, the new pickup truck has either dual motors or rear-motor configurations. The dual motors offer a combined maximum output of 550 horsepower and 745 Nm of torque, with a payload of around 4,000 kilograms. Its range is expected to exceed 320 kilometers.

The new pickup truck is 5,400 millimeters long, with a wheelbase of 2,850 millimeters, a width of 2,290 millimeters, and a height of 2,085 millimeters. The cargo bed measures 522 millimeters in depth, 1,627 millimeters in width, and 1,817 millimeters in length (the extended version is 2,600 millimeters long and 1,627 millimeters wide). The tire size is 265/60 R18.

The most obvious feature of this “pea-shaped” cute pickup truck is the lack of a long front cabin. Thanks to Canoo’s pure electric platform, which combines steer-by-wire technology and other space optimization techniques, no front cabin design is necessary.

“The size of the Canoo pickup truck is similar to that of a Ford Ranger, but it can carry a full-size pickup truck’s load, and its turning radius is only as small as that of a Toyota Prius,” said Tony Aquila, Executive Chairman of Canoo, in a recent interview.

This pickup truck has many unique and interesting features.

By extending the cargo bed, the cargo space can be increased for easier access to items, and there is also a design for a secondary tail light.Here is the translation of the Markdown text to English:

Foldable workbench + cargo storage, due to the release of front cargo space, the new pickup front cabin position not only allows for the storage of tools, but also has power supply and foldable workbench for expansion.

Flip-side table for cargo bed, the two-sided cargo bed partition can be flipped down to form a workbench and comes with a power socket.

Step + storage, there is a hidden storage compartment on the side of the vehicle with air conditioning and a lock, which can be turned into a step when extended, making it easy to enter the cargo bed from the side or roof rack.

Modular space partitioning, can be combined according to cargo needs to ensure secure storage.

Camping vehicle shell, completely covering the cargo bed, is more suitable for camping and luggage storage.

Product introduction

In September 2019, Canoo introduced its first model, named CANOO, and offered a subscription service (maintenance, charging and insurance combined) to obtain vehicle usage rights. CANOO will be available for subscription to US consumers in 2022.

CANOO vehicles have a unique exterior design and an interior layout that eliminates vehicle partitioning. The backseat is a circular sofa that can accommodate seven people. The vehicle has a range of about 400 km and can be charged to 80% capacity in 30 minutes.

The “skateboard” platform will support future Canoo vehicles with a completely flat floor, making it easy to customize the interior space. It is also compatible with a dual-motor drive system.

The CANOO vehicle is equipped with an ADAS system consisting of seven cameras, five radars, and twelve ultrasonic sensors. It is the first vehicle on the market with steer-by-wire technology, which means there is no hard connection between the steering wheel and the wheels.

The second vehicle, launched in 2020, is a multi-purpose delivery van called the MPDV. It starts at $33,000 and comes in two initial sizes, with new variant versions to be developed. It is expected to be available in 2023.

Based on the characteristics of the “skateboard” platform, it offers users many possibilities. Users can use this vehicle to complete various jobs, such as mobile booths for restaurants, florists, etc. It can become a productivity tool and increase investment returns.

Canoo also plans to launch its fourth vehicle, a sporty sedan, in 2025.

Company Introduction

Founders Stefan Krause and Ulrich Kranz met while working at Faraday Future. Due to differences with leadership, they founded Evelozcity in 2017, which was renamed Canoo in March 2019.In February 2020, Hyundai Motor Group announced a partnership with Canoo to develop a new electric vehicle platform, while also investing in another British electric van start-up, Arrival. In September 2020, Canoo announced a merger with SPAC Hennessy Capital Acquisition Corp, completing its public listing with a current market value of 3 billion dollars.

According to Reuters, Canoo plans to manufacture 10,000 CANOO electric cars in 2022, increasing to 50,000 in 2025. The company anticipates revenue of $1.43 billion in 2024, with an initial profit of $188 million.

Regarding the production process, Canoo executive chairman Tony Aquila stated that the pickup truck will be targeted towards both consumers and commercial customers, and could become a high volume vehicle, thereby requiring a small, highly automated microfactory. Canoo is currently in negotiations with various states over potential locations, and the company will still use contract manufacturers to produce its low-volume vehicles. However, as of yet, Canoo has not yet sold any mass-produced vehicles.

Currently, I am in favor of Canoo’s vehicle subscription model as it can reduce the cost of car usage and allow users to switch to the latest car models at any time. However, some users believe that not owning the vehicle themselves requires some adjustment time. What do you think?

🔗Sources: Canoo, Reuters-1, Reuters-2

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.