Canoo Announces Road-Ready Beta Vehicles For 2022 & Potential Ridesharing Plans

Representatives of the electric vehicle manufacturer and designer Canoo Holdings Ltd. (NASDAQ:HCAC) have stated that the visitor is well on its way to take a beta vehicle paradigm ready to exist on the road by 2022. The visitor'southward direction revealed the details in a fireside conversation that took place well-nigh at Cowen's Global Transportation & Sustainable Mobility Conference taking identify this week.

Canoo Highlights Strengths of Its Skateboard Chassis As It Touts $250 Million Investment for Beta Vehicle

At the event, Canoo'southward main executive officer Mr. Ulrich Kranz stated that his company at present employs 300 people and is currently testing its prototypes for vehicles. Canoo intends to deliver what it terms as a post-SUV vehicle, which will use the company's proprietary 'skateboard' chassis. Information technology is currently road-testing its lifestyle vehicles, with the beta prototypes that it expects to have price $250 1000000 for evolution.

The executive revealed that at its xc,000 square-human foot facilities in Los Angeles, Canoo carries out administrative, construction and testing activities. Mr. Kranz stated that the skateboard architecture that volition be at the base of every Canoo vehicle is one-of-a-king every bit it provides his company's vehicles with unique advantages. This compages is highly modular as information technology incorporates all components for driving, steering, braking and break in a single design, which in turn allows Canoo to rapidly launch new vehicle models and scale up production.

He also announced that Canoo will be the offset company to launch a true steer-past-wire system that volition eliminate all mechanical connections between the steering wheel. This volition enable Canoo to create more than cabin space and give it flexibility in its vehicle design by letting the company relocate the steering wheel in dissimilar orientations. Mr. Kranz also stressed that the steering system will provide his company with a leg-upwards in manufacturing automotive vehicles, every bit it will permit Canoo to completely remove the steering wheel from the vehicle. Transversal mounted composite springs on the skateboard will also make Canoo's vehicles very low contour.

"You tin actually place a seat on the skateboard and having a game controller in your paw you lot can bulldoze away with information technology. It doesn't require a motel to be attached to make information technology functional. So this is unique, there is nada out there similar it in the market," stated Mr. Kranz.

Vehicles in HBO'south Westworld featured driverless ans steering-free autonomous vehicles. Image purely for decorative purposes and does non in any way insinuate any resemblance with Canoo's test or terminal products. Epitome: HBO

Canoo Has Built 32 Beta Vehicles To Date Every bit It Continues To Comport Tests, With First Gamma Prototype Expected To Be Ready By Third Quarter 2021

The skateboard compages also allows the company to modify its cabin designs without having to significantly alter the vehicle's key pattern. Information technology volition also carry the burden of collisions, with 70% of all crash loads and energy being captivated by the skateboard and the residue by the cabin. Talking about battery chapters, Canoo's vehicles have a bombardment capacity of 80kWh and a range of 250 miles based on U.S. guidelines.

Past existence able to design dissimilar vehicle class factors on a unmarried chassis, Canoo hopes to target 75% of the Total Addressable Market (TAM) for electric vehicles. The company as well plans to launch a ridesharing platform for its older vehicles, mirroring plans shared by competitor Tesla Inc, as it switches its customers to newer models revealed Canoo's chief fiscal officer Mr. Paul Balciunus.

Canoo is too looking to modifying its technologies and products for Hyundai, with the work including testing and building real-world products. In improver to Hyundai, the visitor is as well in advanced stages of discussion with seven other companies for opportunities that ranging from product blueprint to market deployment stated Mr. Balciunus.

Elaborating Canoo'south plans for autonomous driving, Mr. Kranz stated that all control modules of his visitor's vehicles are capable of introducing levels iii and 4 for the functionality. Differences between the levels business with the amount of human input needed by the vehicle to brand driving decisions, Canoo's vehicles have been designed to conform more sensors should the technology become feasible in the future.

A render of Canoo's skateboard chassis. Image: Canoo

Canoo has built 32 beta vehicles so far, with thirteen of them being capable of performing normally. It has besides performed more than 50 physical crash tests co-ordinate to the "hardest" standards. These tests have validated the designs of both the cabins and skateboards of Canoo'due south vehicles. The company as well plans to produce at least 100 'gamma' vehicles, which will incorporate the results of the visitor's beta vehicle tests and volition mostly represent the stop-product. Canoo's C.E.O. also confirmed that the first gamma vehicle will be on the road at roughly the same time side by side year.

In response to Wccftech's question about the pricing of his company'due south vehicles, Mr. Balciunus, which non providing a numerical value, stated that Canoo is currently gauging consumer sentiment for price levels. Canoo's Head of Corporate Strategy Mr. Alex Marcinkowski stated that the company'southward subscription model will be consumer-friendly, equally it will incorporate elements such equally routine maintenance, bumper-to-bumper warranties, registrations with the authorities and insurance processes.