Canoo Receives Regulatory Approval for UK Pilot Vehicles
Canoo Inc. (Nasdaq: GOEV) has received IVA (Individual Vehicle Approval) regulatory certificates for its Right-Hand Drive (RHD) electric commercial delivery vans in the United Kingdom. This achievement allows Canoo to begin pilot testing its RHD LDV 130 and LDV 190 models with a prestigious UK fleet. The company obtained the certificates in just three months, with less than 2% changes to the Bill of Materials (BoM) of the US-certified RHD LDV 190.
The IVA certification confirms that Canoo's vehicles meet UK safety and environmental standards. The vans will be registered with the DVLA for legal operation in the UK. Canoo's multi-purpose platform, featuring steer-by-wire technology and a unique low-profile suspension system, facilitates easy RHD configuration. This development positions Canoo to contribute to the UK's carbon emission reduction goals and promote cleaner air.
Canoo Inc. (Nasdaq: GOEV) ha ricevuto i certificati di approvazione IVA (Individual Vehicle Approval) per i suoi furgoni commerciali elettrici a guida a destra (RHD) nel Regno Unito. Questo risultato consente a Canoo di iniziare i test pilota dei modelli RHD LDV 130 e LDV 190 con una prestigiosa flotta britannica. L'azienda ha ottenuto i certificati in soli tre mesi, con meno del 2% di modifiche al Bill of Materials (BoM) del RHD LDV 190 certificato negli Stati Uniti.
La certificazione IVA conferma che i veicoli di Canoo soddisfano gli standard di sicurezza e ambientali del Regno Unito. I furgoni saranno registrati presso la DVLA per operazioni legali nel Regno Unito. La piattaforma multifunzionale di Canoo, dotata di tecnologia steer-by-wire e un unico sistema di sospensione a profilo ridotto, facilita la configurazione a RHD. Questo sviluppo posiziona Canoo come contributore agli obiettivi di riduzione delle emissioni di carbonio del Regno Unito e per la promozione di un'aria più pulita.
Canoo Inc. (Nasdaq: GOEV) ha recibido certificados regulatorios de IVA (Aprobación de Vehículo Individual) para sus furgones comerciales eléctricos de conducción a la derecha (RHD) en el Reino Unido. Este logro permite a Canoo comenzar las pruebas piloto de sus modelos RHD LDV 130 y LDV 190 con una prestigiosa flota del Reino Unido. La compañía obtuvo los certificados en solo tres meses, con menos del 2% de cambios en la lista de materiales (BoM) del RHD LDV 190 certificado en Estados Unidos.
La certificación IVA confirma que los vehículos de Canoo cumplen con los estándares de seguridad y ambientales del Reino Unido. Los furgones serán registrados en la DVLA para operar legalmente en el Reino Unido. La plataforma multifuncional de Canoo, que presenta tecnología steer-by-wire y un sistema de suspensión de perfil bajo único, facilita la configuración RHD. Este desarrollo posiciona a Canoo para contribuir a los objetivos de reducción de emisiones de carbono del Reino Unido y promover un aire más limpio.
Canoo Inc. (Nasdaq: GOEV)는 영국에서 우핸드 드라이브(RHD) 전기 상용 배달 밴에 대한 IVA(개별 차량 승인) 규제 인증서를 받았습니다. 이 성과는 Canoo가 영국의 저명한 플릿과 함께 RHD LDV 130 및 LDV 190 모델의 파일럿 테스트를 시작할 수 있게 해줍니다. 이 회사는 단 3개월 만에 인증서를 받았으며, 미국 인증 RHD LDV 190의 자재 명세서(BoM)에서 2% 미만의 변경이 있었습니다.
IVA 인증은 Canoo의 차량이 영국의 안전 및 환경 기준을 충족함을 확인합니다. 이 밴들은 영국에서 합법적으로 운영될 수 있도록 DVLA에 등록될 것입니다. 조향에 의한 제어 기술과 독특한 저프로파일 서스펜션 시스템을 갖춘 Canoo의 다목적 플랫폼은 RHD 구성을 쉽게 만듭니다. 이 개발은 Canoo가 영국의 탄소 배출 감소 목표에 기여하고 더 깨끗한 공기를 촉진하도록 자리 잡게 합니다.
Canoo Inc. (Nasdaq: GOEV) a reçu des certificats réglementaires IVA (Approbation de Véhicule Individuel) pour ses fourgons de livraison commerciaux électriques à conduite à droite (RHD) au Royaume-Uni. Cette réussite permet à Canoo de commencer le test pilote de ses modèles RHD LDV 130 et LDV 190 avec une flotte britannique prestigieuse. L’entreprise a obtenu les certificats en seulement trois mois, avec moins de 2% de modifications sur la liste de matériaux (BoM) du RHD LDV 190 certifié aux États-Unis.
La certification IVA confirme que les véhicules de Canoo répondent aux normes de sécurité et environnementales du Royaume-Uni. Les fourgons seront enregistrés auprès de la DVLA pour une opération légale au Royaume-Uni. La plateforme multifonctionnelle de Canoo, dotée de la technologie steer-by-wire et d'un système de suspension à profil bas unique, facilite la configuration RHD. Ce développement positionne Canoo pour contribuer aux objectifs de réduction des émissions de carbone du Royaume-Uni et promouvoir un air plus pur.
Canoo Inc. (Nasdaq: GOEV) hat IVA (Individual Vehicle Approval) Zulassungszertifikate für seine Elektro-Nutzfahrzeuge mit Rechtslenkung (RHD) im Vereinigten Königreich erhalten. Dieser Erfolg ermöglicht es Canoo, mit einer renommierten britischen Flotte Pilottestungen für die Modelle RHD LDV 130 und LDV 190 zu beginnen. Das Unternehmen erhielt die Zertifikate in nur drei Monaten, mit weniger als 2% Änderungen an der Stückliste (BoM) des in den USA zertifizierten RHD LDV 190.
Die IVA-Zertifizierung bestätigt, dass die Fahrzeuge von Canoo die Sicherheits- und Umweltstandards des Vereinigten Königreichs erfüllen. Die Vans werden bei der DVLA für eine legale Nutzung im Vereinigten Königreich registriert. Die multifunktionale Plattform von Canoo, die über eine Steer-by-Wire-Technologie und ein einzigartiges Niedrigprofil-Federungssystem verfügt, erleichtert die RHD-Konfiguration. Diese Entwicklung positioniert Canoo, um zu den Zielen der Reduzierung von Kohlenstoffemissionen im Vereinigten Königreich beizutragen und sauberere Luft zu fördern.
- Received IVA regulatory certificates for RHD electric commercial delivery vans in the UK
- Achieved certification in just 3 months with less than 2% changes to BoM
- Preparing for pilot testing with a prestigious fleet in the UK
- Positioned to contribute to UK's carbon emission reduction goals
- None.
Insights
Canoo's achievement of UK regulatory approval for its RHD electric delivery vans is a positive step, but its impact on the company's financial prospects remains The rapid three-month approval process and minimal changes required (
However, this news doesn't address Canoo's primary challenges: production scaling and financial stability. With a market cap of just
Investors should view this development cautiously. It's a technical win but doesn't guarantee commercial success or solve Canoo's cash flow issues. The company's ability to move from pilot to large-scale production and sales will be the real test.
Canoo's entry into the UK market with IVA-approved RHD vehicles is strategically sound, aligning with the growing demand for electric commercial vehicles in Europe. The UK's push for reduced carbon emissions creates a favorable environment for Canoo's products.
The company's multi-purpose platform and steer-by-wire technology offer a competitive edge, potentially allowing for easier customization and lower production costs. However, Canoo faces stiff competition from established players and other EV startups in the commercial vehicle space.
While this approval opens doors, Canoo's success will hinge on its ability to secure substantial orders, ramp up production and achieve profitability. The mention of a "prestigious fleet" for pilot testing is promising, but without concrete details on order size or potential revenue, it's difficult to gauge the real impact on Canoo's bottom line.
Accomplishment within three months with only less than
JUSTIN, Texas, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that it has received the IVA (Individual Vehicle Approval) regulatory certificates, meeting the national technical requirements for its Right-Hand Drive (RHD) electric commercial delivery vans in the United Kingdom. This marks a significant milestone for Canoo as the company prepares for pilot testing the RHD variants of its LDV 130 and LDV 190 electric commercial delivery vans with a prestigious fleet in the United Kingdom.
Canoo achieved IVA certificates for RHD LDV 190 and RHD LDV 130 vehicles, in just three months with less than
Canoo’s multi-purpose platform with steer-by-wire technology and a unique low-profile suspension system allows for a readily configurable right-hand drive system. Pilot customers will benefit from Canoo’s patented technologies to deliver enhanced functionality, safety, and ergonomics.
For more information, visit www.canoo.com
About Canoo
Founded in 2017, Canoo Inc. (NASDAQ: GOEV) is an automotive tech company that manufactures electric cargo vehicles, built to deliver, for large commercial, government and fleet customers globally. The company has developed design-forward innovative electric vehicles with steer-by-wire technology on its common modular platform with end-to-end software plus power solutions. Canoo’s platform is purpose-built to maximize the vehicle interior space and is customizable to support a wide range of business and government applications. Headquartered in Justin, Texas, Canoo has teams located in California, Michigan and Oklahoma with world-class vehicle and battery facilities in Oklahoma City. For more information please visit www.canoo.com and investors.canoo.com.
Forward-Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements about our plans, expectations and objectives with respect to the results and timing of the reverse stock split and the effect the reverse stock split will have on the Company’s ability to regain compliance with the Nasdaq Listing standards. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Canoo's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Canoo. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; Canoo's ability to access future capital, via debt or equity markets, or other sources; the rollout of Canoo's business and the timing of expected business milestones and commercial launch; future market adoption of Canoo's offerings; risks related to Canoo's go-to-market strategy and manufacturing strategy; the effects of competition on Canoo's future business, and those factors discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Canoo's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission (the "SEC") on April 1, 2024, as well as its past and future Quarterly Reports on Form 10-Q and other filings with the SEC, copies of which may be obtained by visiting Canoo's Investors Relations website at investors.canoo.com or the SEC's website at www.sec.gov. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Canoo does not presently know or that Canoo currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Canoo's expectations, plans or forecasts of future events and views as of the date of this press release. Canoo anticipates that subsequent events and developments will cause Canoo's assessments to change.
However, while Canoo may elect to update these forward-looking statements at some point in the future, Canoo specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Canoo's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Media Contact
press@canoo.com
Investor Relations Contact
IR@canoo.com
FAQ
What regulatory approval did Canoo (GOEV) receive for its UK pilot vehicles?
How long did it take Canoo (GOEV) to obtain the UK regulatory approval?
What percentage of changes were made to Canoo's (GOEV) vehicles for UK approval?
Which Canoo (GOEV) vehicle models received UK regulatory approval?
