#6 - Canoo (NASDAQ:GOEV)
I’ll admit to being all over the map on Canoo (NYSE:GOEV). When I first began researching the company, I loved the company’s story. It was going to use its proprietary “skateboard” platform to create a multipurpose lifestyle vehicle that would be the first to feature a “by wire” design. Plus, the company was promoting a “pay as you go” subscription model.
Those plans have been brought back to earth. The company is still launching its lifestyle vehicle, but they’ve added a delivery fan and pickup truck to its lineup. And in the company’s last earnings call in August the truck makes up the majority of the company’s 9,500 preorders. A delivery van and pickup truck are practical if not exactly innovative. But it may be reflected by the leadership change at the company that is pledging an underpromise/overdeliver culture.
With that in mind, the company has some things in its favor. Like Fisker, Canoo is not planning to be in production until late 2022. But they have a contract manufacturer picked out. And the company recently announced that Panasonic (OTCMKTS:PCRFY) will supply the company’s batteries which features proprietary technology.
About Canoo
Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.
More- Current Price
- $0.34
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $108.10 (31,324.4% Upside)
