Dec 18, 2020 08:36 PM EST
EV startup Canoo aims to offer smaller work vehicles for last-mile deliveries and small businesses the way Tesla doesn't lineup. On a Thursday announcement, Canoo revealed its futuristic electric delivery vans.
Canoo revealed two multi-purpose delivery vehicles - a medium-sized MPDV2 and a small MPDV1. The third, larger MPDV3, is in the process as well. The customizable vans can be used with many different types of businesses, as per Canoo.
The legacy startups and automakers alike announced plans for battery-powered work vans, with Mercedes-Benz, Bollinger, Rivian, and Ford, as per the Business Insider. These companies are making inroads into space in the last few years.
The EVs are perfect for commercial use because of their range, which often poses fewer issues, cheaper to run and maintain than gas-powered vehicles. Commercial vehicles also tend to follow predictable routes.
Canoo Holdings LTD says that its two multi-purpose delivery vehicles were designed to ensure that last-mile delivery companies and small businesses could maximize the value from their investment.
According to Benzinga via MSN, vehicles were designed through Canoo's proprietary electric platform and will have a price starting from $33,000. Customers can pre-order the vehicles, and they can request a refund deposit of $100.
The company will release initial variants of the multi-purpose delivery vehicles in 2022. It will be followed by the latest version like MPDV3 over time. However, the availability and production during the early stages are limited, and the company plans to gradually upscale in 2023.
Tony Aquila, Canoo's Executive Chairman, said the vehicle offers greater cargo capacity than the old electric delivery offerings in its class and is much affordable. Aquila added that the company aims to lower the total cost of ownership and increase the return of everyone's investment from local small businesses to large fleets.
Read also: Overheating Broken Honda Cars to be Undergoing Massive Recall
The owners can generate a range of $50,000 to $80,000 return on capital investment in a span of six to seven years, Canoo estimated. The company targets to attract a wide range of customers like independent contractors, service technicians, and utility companies, with the best-in-class cost-benefit claim. Besides, it will extend an option to large entities and retailers such as retail and logistics companies, creating a custom co-developed vehicle to meet particular delivery criteria.
Canoo was to go public through the SPAC merger with Hennessy Capital Acquisition Corp IV at a $2.4 billion market cap by the end of 2020, as per August reports.
Last week, Jim Cramer, CNBC's "Mad Money" show host, suggested the stock as a buy at a price target of $15.64. On the last check on Friday, the HCAC shares went down by 2.12% in the pre-market session.
Read also: Report: Tesla Model S, X to Suspend Production, Forcing Workers to Take Unpaid Take Off Work
And the world of NFTs expands far beyond art and collectibles. A new era of tokenized digital assets is being created using the blockchain. Here are seven unique NFT use cases that the interested investor should know.
However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.
o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.