CANOO DD Package 6-12-21.pdf - sunny

Please enable JavaScript to view the full PDF

Canoo Inc. $GOEV | June 12, 2021 Table of Contents Canoo Inc. ................................................................................................................................................................... 1 Engineering ................................................................................................................................................................ 2 Foundation.............................................................................................................................................................. 2 Platform ............................................................................................................................................................... 2 Steer-by-wire ...................................................................................................................................................... 2 Leaf springs ........................................................................................................................................................ 2 Climate control .................................................................................................................................................. 3 Battery housing.................................................................................................................................................. 3 Safety ....................................................................................................................................................................... 3 Cabin.................................................................................................................................................................... 3 Visibility ............................................................................................................................................................. 3 Advanced driver-assistance systems (ADAS) ............................................................................................. 4 Airbags ................................................................................................................................................................ 4 Power ....................................................................................................................................................................... 5 100% electric ....................................................................................................................................................... 5 Charging.............................................................................................................................................................. 5 Battery and motor .............................................................................................................................................. 5 Canoo Products & Pre-orders.................................................................................................................................. 6 The lifestyle vehicle ............................................................................................................................................. 6 Multi-purpose delivery vehicle (MPDV) ......................................................................................................... 8 Pickup truck ........................................................................................................................................................... 9 Canoo opens pre-orders up for electric “lifestyle vehicle”, van and Ute ................................................ 11 Problems at Canoo .................................................................................................................................................. 14 Canoo Stock Has Serious Risks Well Beyond Its Bold Aesthetics ........................................................... 14 Canoo Stock Still Looks Speculative After Big Sell Off ............................................................................. 15 Canoo contracts ........................................................................................................................................................ 17 Canoo’s deal with Hyundai appears dead ..................................................................................................... 17 Canoo Merger with Hennessy Capital Acquisition IV Corp. .................................................................... 19 Canoo & University of Wisconsin-Madison partner on next-generation electric vehicle technologies ................................................................................................................................................................................. 20 Competitor Analysis ............................................................................................................................................... 22 1. Xos Trucks .................................................................................................................................................... 22 Xos Trucks’s Trends ....................................................................................................................................... 23 2. Ford ................................................................................................................................................................ 26 Unique Offers .................................................................................................................................................. 26 All vichels prices ............................................................................................................................................. 27 3. Rivian ............................................................................................................................................................ 28 Unique offers ................................................................................................................................................... 28 Prices .................................................................................................................................................................. 29 Events......................................................................................................................................................................... 30 Twitter updates........................................................................................................................................................ 31 Follower’s evaluation chart ............................................................................................................................... 31 Tweets evaluation chart ..................................................................................................................................... 32 Canoo Videos ........................................................................................................................................................... 34 History of Co-founder, CEO & board of directors ........................................................................................... 36 Board of Directors ............................................................................................................................................... 39 News Headlines....................................................................................................................................................... 48 Press Releases .......................................................................................................................................................... 51 Earnings Date ........................................................................................................................................................... 54 Canoo Stock Forecast & Price ............................................................................................................................... 57 Short Interest ............................................................................................................................................................ 58 Stock price ................................................................................................................................................................ 59 Canoo Inc. Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles, reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team – numbering over 300 employees from leading technology and automotive companies – Canoo has designed a modular platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses. Canoo brings together curious and driven minds from across automotive, high tech, design and many other cutting-edge industries. 1 Engineering Designed with your needs in mind: We believe that the potential of EV architecture can enable a post- SUV era that addresses the ever-growing desire for space and value. Foundation Platform Completely independent from the cabin, our proprietary architecture enables all Canoo vehicles to share the same platform, providing a large SUV space atop a compact car footprint. Canoo's foundation is its platform. Steer-by-wire The first true steer-by-wire platform. This system is the only way to have no direct mechanical connection to our wheels. It has the ability to push the driver forward, be future-proof for autonomy, and provide safety redundancy. Leaf springs For both front and rear suspension, Canoo utilizes composite transverse leaf springs that provide a flatter platform and increase passenger space. 2 Climate control Canoo’s climate system is directly incorporated into the platform which leads to a more optimal usage of space. Battery housing Batteries are integrated directly into the platform increasing torsional rigidity and package efficiency. Safety Cabin We’ve created an electric vehicle utilizing lightweight high-strength steel that exceeds rigorous strength, safety and performance requirements. Visibility The Canoo affords best-in-class driver visibility featuring 22 windows including the front-of-vehicle street view window. 3 Advanced driver-assistance systems (ADAS) Level 2+ Autonomous: The Canoo uses 7 cameras, 5 radars and 6 ultra-short-range sensors that employ deep learning algorithms to perceive the world around the vehicle. External and internal sensors along with facial monitoring cameras determine when to warn and intervene with a driver. Airbags The Canoo is designed and engineered to target an overall 5-star safety rating. 12 airbags throughout the cabin work together to ensure your protection. 4 Power 100% electric Our vehicle runs exclusively on electricity, which is quiet and contributes to a greener future for our cities. Charging The Canoo battery pack can reach an 80% charge in only 28 minutes. Side mirror lighting indicates charge state so you can easily track charge progress. Battery and motor A single permanent magnet synchronous electric motor powers the Canoo with 300hp. A liquid cooling mechanism prevents the system from overheating. Canoo can be configured in Front Wheel Drive, Rear Wheel “Engineered to Drive, and All Wheel Drive. maximize efficiency” 5 Canoo Products & Pre-orders The lifestyle vehicle The Lifestyle Vehicle will be Canoo’s first vehicle to market in 2022 with targeted pricing starting from $34,750 - $49,950 for several soon to be announced trims, before incentives, or optional equipment. The lifestyle vehicle has evolved: Higher ground clearance, bolder design, and more utility inside and out for city explorers, businesses, families and adventurers. Preorder today with a fully-refundable $100 deposit. 6 Spacious cabin: Interior space of an SUV with the small footprint of a compact vehicle Driver monitoring: Cutting-edge safety feature User connectivity: Your device, your infotainment, always updated Preorder your lifestyle vehicle 7 Multi-purpose delivery vehicle (MPDV) Business ready: Lower total cost-of-ownership, easy maintenance Cargo volume: More cargo, small footprint, easy maneuverability Productivity tool: Power plant, plug in your tools and get to work Preorder your MPDV 8 Pickup truck A purpose-built pickup truck: Launching as early as 2023. U.S. Preorders Now Open. “All electric. All American. All utility.” The Pickup Truck is built to be the new standard in function, form and utility — ready for work and the weekend. Engineered on our tested Multi-Purpose Platform (MPP1), the Pickup Truck has the payload capacity of a full-size on the exterior footprint of a mid-size with enhanced maneuverability for any terrain. Our pickup truck is as strong as the toughest trucks out there and includes features for people who use trucks – on the job, weekends, and adventure. (Tony Aquila, executive chairman & ceo, Canoo). 9 Pull-out bed: Extend the versatile 4ft x 6ft bed to 8ft to maximize enclosed space then shorten to fit in your garage. Dual flip-down tables: Double your productivity with dual flip down workbenches with two expandable depths near multi-functional power sources. 10 Canoo opens pre-orders up for electric “lifestyle vehicle”, van and Ute Californian EV start-up Canoo has announced that it has opened pre-orders and reservations in the United States for its three electric models – the so-called Lifestyle Vehicle, Multi-Purpose Delivery Vehicle (MPDV), and pickup truck – with only a $US100 down payment required. The company’s Lifestyle Vehicle will be the first of the company’s EVs to market, expected in 2022, and has targeted pricing starting from $US34,750 to $US49,950 (before incentives or optional equipment) for the delivery, base, and premium models – which reflects the company’s current estimates, but are subject to change. Canoo boasts that its “Lifestyle Vehicle has the interior space of a large SUV, with the exterior footprint of a compact car and is made for urban, adventure, families, fleet, ride hailing and more.” Deliveries for the Canoo Pickup Truck and scaled production for its MPDV are scheduled to begin as early as 2023. Pricing for the planned Lifestyle Vehicle Adventure model will be available in the coming months, according to Canoo. “It’s no longer a question of whether America will go EV – but when,” said Tony Aquila, chairman and CEO of Canoo Inc. 11 Canoo’s Pickup Truck, on the other hand, seems to require no ‘anticipation’ over its specifications, with more than 500-horsepower and 550lb.-ft of torque from its dual motors, and a payload capacity of 1,800lbs while still providing 200-miles (320-kilometres) of battery range. Meanwhile, the Multi-Purpose Delivery Vehicle ‘anticipates’ up to 200hp and 236lb.-ft of peak motor torque with up to 250-miles (400-kilometres) of battery range. As with the ‘targeted price range’ of the vehicles, these vehicle specifications are also subject to change. Final vehicle specifications for all Canoo’s vehicles will be revealed closer to production. “Our line-up is future-forward and succeeds where others have struggled: Giving people the EV that works smarter for them at a price that can work for their budgets. That’s why we are designing for flexible use cases and focused on productivity solutions. According to the company’s press release, “anticipated specifications” for the Lifestyle Vehicle include up to 300hp and 332lb.-ft of peak motor torque with 250- miles (400-kilometres) of battery range. Unfortunately, news of Canoo’s opening of pre-orders and reservations was joined by Aquila’s revelation that the company is being investigated by the US Securities and Exchange Commission (SEC) which, according to Acquila, the SEC “characterize the process as a fact-finding inquiry.” Canoo was one of a 12 number of EV start-ups to go public through a special purpose acquisition company, or SPAC, with Canoo’s SPAC of choice called Hennessy Capital Acquisition Corp IV (HCAC). The $US2.4 billion deal was followed later in the year by a massive drop in the company’s share price. According to Aquila, “EV SPACs are now facing some near-term headwinds, including the SEC’s interest in determination on how warrants are treated.” “The SEC has also informed the Company that the investigation does not mean that it has concluded that anyone has violated the law, and does not mean that it has a negative opinion of any person, entity or security,” Canoo noted in its regulatory filing in response to the investigation. “We intend to provide the requested information and cooperate fully with the SEC investigation.” 13 Problems at Canoo Canoo Stock Has Serious Risks Well Beyond Its Bold Aesthetics In what seemed like an approach toward a catastrophic year in 2020 was instead a banner moment for electric vehicles. It didn’t seem exactly intuitive at the time, but publicly traded EV manufacturers watched their valuations soar. Thus, in this context, it’s not surprising that one of the hot names of the day is Canoo (NASDAQ:GOEV). It’s even got one of the cleverest ticker symbols, GOEV stock. Canoo isn’t built on hype alone, far from it. First and foremost, the novel coronavirus pandemic demonstrated the dependency problem of combustion-engine vehicles. Everyone knows that owning a regular car is a pain in the rear. Beyond pumping gasoline, you’ve got to change the oil, change other fluids and go through scheduled maintenance. It adds up. But most importantly, you need other people to do the work. Yes, technically, you can do your own maintenance, but with everything crammed into a small space in modern cars, it’s a bit of a pain. That’s the problem – most folks need to visit their dealership or mechanic for maintenance purposes. That added potential contact risk during the pandemic, which fundamentally benefits the case for GOEV stock 14 and other related investments. EVs simply have fewer moving parts, requiring less maintenance all things being equal. The other catalyst boosting GOEV stock is shifting demographics. Multiple surveys reveal that millennials and Generation Z are the most willing demographics to pay for sustainable products. Over the trailing year, we’ve witnessed how young people are investing their money differently from prior generations, to put it mildly. Of course, it makes sense that their platform of transportation will change as well. Plus, you have Canoo’s subscription model, where consumers are not encumbered with long-term contracts. Instead, they basically pay as they go. Canoo Stock Still Looks Speculative After Big Sell Off EV startup Canoo (NASDAQ: GOEV) has seen its stock decline by about 10% over the last month and remains down by roughly 40% year-to-date. Canoo stock trades at about $7.50 per share, with its market cap standing at under $2 billion currently. However, we still think the stock looks somewhat speculative for a couple of reasons. While Canoo has no revenue-generating products, investors were drawn to the stock last year due to the company’s planned strategy of offering its vehicles via a subscription service, using an asset-light manufacturing strategy, partnering with the likes of Hyundai, and licensing its 15 technology to third parties (typically a high margin endeavor). However, as of last month, Canoo had effectively pivoted away from all these plans. Moreover, Canoo has seen a lot of departures at the top management level, with its CEO, Chief Financial Officer, and Head of Corporate Strategy leaving the company over the last few weeks. This isn’t an encouraging sign for a young company in the pre-production phase. Now, although Canoo apparently has a scalable electric vehicle platform, which gives it more flexibility with packaging components and designing a vehicle’s cabin, it still remains to be seen how this will add value to its vehicles. The EV market is getting more competitive and it remains to be seen whether Canoo’s products can really stand out in the market. 16 Canoo contracts Canoo’s deal with Hyundai appears dead The deal between Canoo and Hyundai to build electric vehicles appears to be dead, as the California EV startup is moving away from trying to sell its electric vehicle technology to other automakers. The deal with Hyundai was announced in February 2020, and it was supposed to result in both the Hyundai and Kia brands building vehicles on Canoo’s electric vehicle platform. It was seen as a major vote of confidence in the startup, which was just two years old at the time, as well as its tech. Canoo called it a “key partnership.” Hyundai did not immediately respond to a request for comment. Canoo did not respond beyond Aquila’s statements. Aquila took over Canoo as part of the startup’s merger with a special purpose acquisition company (SPAC) in 2020, which netted it around $600 million. This was the planned part of Canoo’s business that was supposed to see the startup provide technology to bigger companies that wanted to enter the electric vehicle space. Canoo’s desire to sell its technology at one point even drew the interest of Apple. 17 In documents filed with the Securities and Exchange Commission, both before and after the merger, Canoo had said its planned engineering services business presented “a significant market for contract engineering services among legacy OEMs who lack the expertise to develop an electric powertrain at the pace needed to capitalize on the rising regulatory requirements and global demand for EVs.” The startup also said these types of partnerships would serve as “concrete points of external validation for our technology and the talent of our team, as well as provide additional sources of revenue and long-term commercial opportunities.” Canoo said it was “in discussions with a number of other partners and expects to be in a position to announce many more partnerships in due course.” 18 Canoo Merger with Hennessy Capital Acquisition IV Corp.  Transaction to provide approximately $600 million of gross proceeds that will support the production and launch of electric vehicles (EV) featuring Canoo's advanced skateboard technology  Canoo's proprietary, all-electric skateboard platform has been purposefully designed and engineered to support a wide range of business-to-consumer (B2C) and business-to-business (B2B) vehicle configurations  First vehicle set to launch in 2022 is purpose-built for a subscription revenue model and leverages Canoo's flat skateboard architecture to deliver the highest usable interior space in its class  B2B delivery vehicle program expected in 2023 addresses a projected $50B+ last-mile delivery market with an EV platform that maximizes cargo volume  Transaction is supported by a fully committed common stock PIPE of over $300 million, including investments from funds and accounts managed by BlackRock, among other institutional investors  As a result of outsized demand, the PIPE offering was meaningfully oversubscribed and upsized  Pro forma equity value of the merger is approximately $2.4 billion 19 Canoo & University of Wisconsin-Madison partner on next-generation electric vehicle technologies Canoo Inc. (NASDAQ: GOEV), a company developing breakthrough electric vehicles, is partnering with the University of Wisconsin-Madison to accelerate advances in electric vehicle technologies while lowering the overall cost of owning an electric vehicle. In May 2021, the two organizations signed a memorandum of understanding through which they will collaborate toward the development of a Canoo research center at UW-Madison. The center will advance research in electric propulsion technologies with a goal of increasing electric vehicle utility while reducing burdens on finite natural resources. The partnership intends to create a leading pipeline for propulsion technology as well as on and off-grid operations. Canoo is known for its innovative, future-forward functional designs, with a lifestyle vehicle, a delivery van and a pickup truck. Canoo is driven by the mission to bring electric vehicles to everyone, and built for adventurers, families, tradespeople and small business owners. The company focuses on building productivity solutions that spans owners across the full vehicle lifecycle. With a revolutionary modular electric multipurpose platform, Canoo delivers maximum space utility, and performance on a small footprint. Its flexible vehicles meet a wide range of 20 use cases for consumers and businesses and build in customization for every owner—whether the first, fourth or beyond. UW-Madison's College of Engineering is leading the effort on behalf of the university. In addition to a research partnership, Canoo will develop a talent pipeline through internships and other opportunities for undergraduate and graduate students that will focus on real-world research and technology development. "We are launching a multi-university research and development program designed to further critical research and catalyze innovation to support the manufacture of electric vehicles. This program will enhance U.S. competitiveness and benefit the entire industry while simultaneously advancing our IP," says Canoo Chairman and CEO Tony Aquila. "We are committed to our first research center with UW-Madison to drive groundbreaking advances in electric vehicles—advances that enable us to execute on our mission to bring EVs to everyone." UW-Madison Chancellor Rebecca Blank says the partnership underscores the benefits of tapping talent at a world-class research university. "I'm delighted to welcome this partnership with Canoo. In recent years, a number of industry partners have opened research centers on campus and nearby in Madison," she says. "This new model allows for greater engagement with students, stronger connections to leading faculty and cutting-edge research, and access to state-of-the-art university equipment and resources." 21 Competitor Analysis 1. Xos Trucks “We are obsessed with low-cost fleet sustainability” Dedicated to making fleets more efficient, we build state-of-the-art electric commercial vehicles at a much lower operating cost. Developing cutting edge technologies for medium and heavy duty electric vehicles—like step vans, box trucks and vocational vehicles—our mobility solutions exceed anything on the present market. Capable of transporting products with greater reliability and simplicity, Xos electric trucks are designed in the most environmentally conscious manner possible. Xos is the O.S. (Operating System) for fleets. A connected, intelligent platform that thrives in the intersection between energy and software. We don’t just make affordable sustainability possible… we make it look good. Xos Trucks is a company that provides and operates medium and heavy-duty electric trucks. Its proprietary technology stack includes vehicle controls software suite and a patent-protected battery system, providing trucks with optimized performance, enabling clients to access a fleet of trucks that cause minimal pollution. 22 Xos Trucks’s Trends 23 24  Xos zero-emissions vehicles are already making deliveries on the ground. Having launched partnerships with some of the most well-known brands, we continue to redefine what’s possible in fleet management.  The X-Pack was designed for the demanding commercial truck environment, with industry-leading safety, performance and longevity. Our batteries operate as intelligent standalone units that can be strung together in any combination, allowing the X-Pack to suit a fleet’s unique needs as well as a wide-range of other commercial vehicle applications.  The fully electric X-Platform 1 is built from the ground up to meet any fleet’s needs. The platform is designed to accommodate an extensive variety of medium-duty bodies, wheelbases and range requirements up to 200 miles. 25 2. Ford Ford is a family company, one that spans the globe and has shared ideals. We value service to each other and the world as much as to our customers. Generations have made their memories with us and included us in their hopes and dreams. After 117 years, we’re used to adapting to and leading change. That’s why we’re evolving to focus on services, experiences and software as well as vehicles. Unique Offers  Built Ford Tough  Best-in-class towing  It’s all about performance. To move a big load, you need abundant torque. To keep things moving, you need plenty of horsepower. F-Series trucks give you plenty of both.  FordPass. Built To Keep You Moving. Meet FordPass. The only app that lets you earn Points towards complimentary maintenance* and puts rewards, Roadside Assistance** and connectivity† in the palm of your hand. 26 All vehicles prices 27 3. Rivian Today we’re operating off hundreds of millions of years of accumulated plant- and animal-based carbon. On our current path, we will fully exhaust this stored energy in only a few generations and, in the process, carbonize our atmosphere to such a degree that life as we know it will not be possible. If the planet is to continue to sustain life and enchant future generations, we have to change. To build the kind of future our kids and our kids’ kids deserve, extraordinary steps must be taken to stop the carbonization of our atmosphere. This requires individuals and entire industries to come together in ways we never have before to transition the world toward sustainable energy. This is where Rivian’s potential lies — in creating solutions that shift consumer mindsets and inspire other companies to fundamentally change the way they operate. Unique offers  A truck built for whatever you call a road. Your electric adventure awaits.  At launch, the R1T will deliver 300+ miles. In January 2022, a 400+ mile R1T will be available.  By making Driver+ standard, our goal is to make driving safer, easier and less stressful for everyone.  Driver+ capabilities also include warnings for forward collision, rear cross-traffic and lane departure. 28  Automatic braking in emergencies. Lane keeping if you drift. Alerts for vehicles in your blind spot. Every Rivian vehicle includes these features and more, all standard.  Rivian offers Equipment Packages Prices R1T A truck built for whatever you call a road. Your electric adventure awaits. Starting at $67,500 with 300+ miles of range. Capability A trail to the middle of nowhere. A great mountain road. A long weekend with the family. We are focused on building products that inspire and enable you to see the world, on-road and way off. R1S Explore the places you love with the people you love. Grab your camera. It’s time to make some memories. Starting at $70,000 with 300+ miles of range. 29 Events 30 Twitter updates Follower’s evaluation chart 31 Tweets evaluation chart 32 Preorder the MPDV for your Designed to bring home more business? Let us know in the bacon on a smaller footprint. comments how you plan to use it. 33 Canoo Videos How we see it | electric vehicles | Canoo https://www.youtube.com/watch?v=BqCaDBv4K-g 34 Canoo Lifestyle Vehicle Gets Starting Price! https://www.youtube.com/watch?v=ehATNzqI5ec 35