#2 - Canoo (NASDAQ:GOEV)
Many electric vehicle (EV) companies came to market by way of a special purpose acquisition company (SPAC). Among those was Canoo (NYSE:GOEV). Let’s keep things real. Many of these companies have interesting ideas that may never reach scale. As it relates to EV stocks, one thing you should look for is differentiation. Canoo delivers that in two important ways.
First, the company is going to be introducing what is known as a multipurpose delivery vehicle (MPDV). Canoo will use a “by wire” design that is part of its “skateboard” platform. The skateboard design is a chassis that essentially provides a template that the company can use to manufacture EVs much faster. And the “by wire” design allows the vehicle to be configured for maximum space and will eventually allow for autonomous driving capability.
And once Canoo’s vehicles hit the market in 2022, they will be offering consumers a “transportation-as-a-service” model that gives it an SaaS component. Consumers can lease a vehicle for a specified period of time (minimum of 30 days). Once that time period ends, they can extend their “lease” or they can return the vehicle with no long-term contract.
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.
Read More - Current Price
- $2.83
- Consensus Rating
- Buy
- Ratings Breakdown
- 5 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $49.19 (1,638.1% Upside)
