Canoo completes acquisition of manufacturing assets from Arrival

seekingalpha03-25

Canoo (NASDAQ:GOEV) announced on Monday that it completed the acquisition of a substantial portion of the advanced manufacturing assets that were previously owned by Arrival Automotive UK Limited. The...

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The...</p>\n\n<a href=\"https://seekingalpha.com/news/4083233-canoo-completes-acquisition-of-manufacturing-assets-from-arrival\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOEV","symbol_name":"Canoo Inc.","start_time":0,"source_url":"https://seekingalpha.com/news/4083233-canoo-completes-acquisition-of-manufacturing-assets-from-arrival","article_id":"2422590895","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1460172015/image_1460172015.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422590895","pubTimestamp":1711364470,"columns":[],"sourceInfo":{"source_id":"seekingalpha_hot_news","name":"SeekingAlpha"},"weMediaInfo":null,"summary":"Canoo (NASDAQ:GOEV) announced on Monday that it completed the acquisition of a substantial portion of the advanced manufacturing assets that were previously owned by Arrival Automotive UK Limited. The","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GOEV":"Canoo Inc.","BK4099":"汽车制造商"},"translate_title":"卡诺完成对Arrival制造资产的收购","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARVL":1,"GOEV":1},"content_text":"Canoo (NASDAQ:GOEV) announced on Monday that it completed the acquisition of a substantial portion of the advanced manufacturing assets that were previously owned by Arrival Automotive UK Limited. The assets purchased in the transaction are expected to accelerate Canoo’s (GOEV) transition to automated processes by shortening purchase lead times by over 40%, reducing capital expenditures by 20%, and eventually lowering unit costs. The company said the purchased assets will be collected into more than 20 containers and shipped by sea to Canoo’s (GOEV) manufacturing facilities in Oklahoma. Following the announcement of the deal in January, the assets were transported from Arrival’s North Carolina facility and received at Canoo’s (GOEV) Oklahoma facility where commissioning is underway. Canoo (GOEV) noted that it has the necessary manufacturing equipment to deliver 2024 production. The acquisition is expected to expand its capabilities to deliver its 2025 production at significantly lower costs. Canoo’s (GOEV) strategy in the near term is to improve its processes and product quality while it is producing at low volumes, allowing for simultaneous completion of supply chain harmonization and implementation of customer feedback before entering high-volume production. Canoo (GOEV) expects to continue to pursue opportunistic investments and the purchase of advanced manufacturing equipment as it becomes available using a disciplined approach. Canoo (GOEV) may also utilize its recently approved Foreign Trade Zone to facilitate the purchase. Shares of Canoo (GOEV) moved up 5.72% in premarket trading.  More on Canoo   Canoo: Avoid After Reverse Stock Split Canoo: There Is A Glimpse Of Hope But Hold Canoo's manufacturing facility gets foreign trade zone status; shares rise ~59% Canoo falls on 1-for-23 reverse stock split Seeking Alpha’s Quant Rating on Canoo","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422590895"}