Are any of you expecting them to make money so early, without major production facilities? Most start ups lose money for years before being profitable.

Are any of you expecting them to make money so early, without major production facilities? Most start ups lose money for years before being profitable.

There's a lot more than not having production facilities up and running, according to that article.

There's a lot more than not having production facilities up and running, according to that article.

Hasn't yet generated any revenue. In the first paragraph. Like I said. Most start-ups make no money for a few years. How old is Canoo (I plead ignorance on that)?

If less than 5 years for an EV start-up that doesn't have Musk being a shiny face for them, it's fair for them to not have any revenue.

I'm not bashing, I just know, as an accountant, that revenue means very little for start-ups early in their start.

Hasn't yet generated any revenue. In the first paragraph. Like I said. Most start-ups make no money for a few years. How old is Canoo (I plead ignorance on that)?

If less than 5 years for an EV start-up that doesn't have Musk being a shiny face for them, it's fair for them to not have any revenue.

I'm not bashing, I just know, as an accountant, that revenue means very little for start-ups early in their start.

Canoo was founded in 2017. :Smiley122 You're still talking about the production facilities, but I'm talking about the massive C-suite changes, the huge amounts that the CEO (or whatever he is, President, whatever) has racked up for travel, etc., the general environment, .....

I guess decent news for the company as it’s somewhat of a sign moving forward but it looks like the Walmart Canoo’s won’t be built at the Oklahoma site.

https://www.bloomberg.com/news/articles/2022-08-31/canoo-s-manufacturing-head-is-out-as-ev-maker-plans-outsourcing

https://www.youtube.com/watch?v=fpjcbTGaYgs

Really makes you want them to succeed

I guess decent news for the company as it’s somewhat of a sign moving forward but it looks like the Walmart Canoo’s won’t be built at the Oklahoma site.

https://www.bloomberg.com/news/articles/2022-08-31/canoo-s-manufacturing-head-is-out-as-ev-maker-plans-outsourcing

It is troubling that the head of manufacturing is out. This outfit seems to have a hard time retaining talent.

One Canoo in the wild!

https://i.imgur.com/P08A6Hc.jpg

Some good news,
https://electrek.co/2022/10/11/canoo-continues-comeback-with-over-5000-evs-orders-from-zeeba-over-half-are-binding/

Another Teslarati article claiming Canoo is moving forward on this plane for Oklahoma operations starting with battery production:



ByJoey KlenderPosted on November 2, 2022
Canoo announced on Wednesday that it would build electric vehicle battery modules at a renovated facility in the MidAmerica Industrial Park in Pryor, Oklahoma.

The new facility is expected to expand Canoo’s manufacturing and employment footprint in the region as it continues to ramp production of its electric vehicles. The factory will be capable of approximately 320 MWh of battery module capacity, or .320 GWh.

The battery facility will be located in the same complex as Canoo’s MegaMicro Factory, which will include a paint shop, body shop, and general assembly plant when it is finished.

- https://www.teslarati.com/canoo-battery-production-oklahoma/

It sure would be nice if the city of Tulsa could find a way to lure them to move their HQ there but given their new relationship with Walmart I doubt that is even a remote possibility.

https://www.press.canoo.com/press-release/canoo-to-acquire-vehicle-manufacturing-facility-in-oklahoma-city

Canoo to Oklahoma City!??

From their press release:


Strategically located with easy access to road and rail, the facility will produce Canoo’s LDV and LV vehicles for delivery to customers in 2023.

----

Canoo considered multiple potential sites before selecting the location in Oklahoma City. An existing commercial site with more than 630,000 square feet of move-in ready space and significant room for further expansion, the facility will be adapted for Canoo and outfitted to accommodate a full vehicle assembly line with state-of-the-art robotics, a paint shop and upfitting center. As with Canoo’s other facilities in Pryor Oklahoma, the Vehicle Manufacturing Facility will be powered with clean energy. When fully renovated, the Facility will align with Canoo’s vision for sustainable, nature-centric campuses.

https://images.squarespace-cdn.com/content/v1/5d9d220abc587945ae3802b3/287a7e57-b8a3-4a75-9034-9edef1876cd4/OKC_Factory_Aerial_View.png

Where in OKC might this be?

It will be the old Terex property near I-40 and Morgan Road:

http://www.okctalk.com/images/pete/canoo110922e.jpg


http://www.okctalk.com/images/pete/canoo110922b.jpg

Wow This is awesome for OKC!

I must’ve completely missed that Terex was no longer active there…? When did that happen?

I must’ve completely missed that Terex was no longer active there…? When did that happen?

Earlier this year; moved to Mexico:

https://news.conexpoconagg.com/news/terex-to-move-telehandler-production-to-mexico/3415.article

Earlier this year; moved to Mexico:

https://news.conexpoconagg.com/news/terex-to-move-telehandler-production-to-mexico/3415.article
Had no idea. Thanks, Pete!

I must’ve completely missed that Terex was no longer active there…? When did that happen?

I noticed that there didn't appear to be much activity at Terex, but I didn't know they closed up shop. I'm guessing Canoo is going to tear down the Terex plant and build a new facility? I sure hope so, as the Terex plant is very dated looking. Now, if only the Xerox plant would be repurposed.

I noticed that there didn't appear to be much activity at Terex, but I didn't know they closed up shop. I'm guessing Canoo is going to tear down the Terex plant and build a new facility? I sure hope so, as the Terex plant is very dated looking. Now, if only the Xerox plant would be repurposed.

No.

The press release says they will be using the existing 635,000 SF facility with the opportunity for future expansion.

The rendering is of the spruced-up existing building.

No.

The press release says they will be using the existing 635,000 SF facility with the opportunity for future expansion.

The rendering is of the spruced-up existing building.

Once you see it on map you can see it’s the exact building. I’m surprised I didn’t guess that facility when I saw the press release

So what does this mean for Mid-America industrial Park? I know they announced a battery manufacturing plant, but it didn’t look very big. I really wish they would’ve put their HQ in downtown Tulsa instead of Bentonville. Have they officially establish their headquarters yet? I doubt they do that though because of Walmart.

At any rate, great news for OKC. Now I just hope Mid-America industrial Park can land the second Panasonic plant.

Voters in Mayes county voted against the TIF so who knows what’ll happen with Panasonic. Doubt it happens but I hope I’m wrong.

Voters in Mayes county voted against the TIF so who knows what’ll happen with Panasonic. Doubt it happens but I hope I’m wrong.
That sucks. I read on the Tulsa Now forum that the county could simply redraw the TIF district. Is that possible?

Voters in Mayes county voted against the TIF so who knows what’ll happen with Panasonic. Doubt it happens but I hope I’m wrong.
Seems short-sighted, but whatever. After that legislator’s comments about having “enough business” and “wanting to remain small”, it doesn’t appear they’re anxious for growth.

Maybe OKC could lure them. That’d put them even closer to Texas or better yet somewhere around Ardmore or Thackerville.

Seems short-sighted, but whatever. After that legislator’s comments about having “enough business” and “wanting to remain small”, it doesn’t appear they’re anxious for growth.

Ironic seeing how Pryor/Mayes county would be a completely dying husk without large companies like Google doing business there.

Voters in Mayes county voted against the TIF so who knows what’ll happen with Panasonic. Doubt it happens but I hope I’m wrong.

Where are you seeing this? Everything I've seen shows it was approved by a panel months ago.


https://tulsaworld.com/news/local/mayes-county-commissioners-approve-tif-district-for-midamerica-industrial-park/article_d4d3e3b8-c719-11ec-a0c8-c3c4a7049be7.html

From the OKC press release it seems like the bulk of their Oklahoma investment is still in Mid America.



In addition to Canoo’s Oklahoma City Vehicle Manufacturing Facility, the company recently announced a Battery Module Manufacturing Facility and its MegaMicro Factory, a 400-acre campus at MidAmerica Industrial Park, a 9,000-acre industrial complex strategically located near some of the nation’s most highly traveled thoroughfares. The MegaMicro Factory will include a full commercialization facility with a paint, body shop and general assembly plant. It will be a significant investment in the state and will employ more than 2,000 when fully operational.

Looks like it was prop 2, and only got 36% of the vote. YEESH

Canoo had always planned for a presence in both Tulsa and OKC in addition to their plant in Pryor and HQ in Bentonville. The addition of a smaller plant in OKC is new though, and likely because the Terex property was available.

I really wish they would’ve put their HQ in downtown Tulsa instead of Bentonville. Have they officially establish their headquarters yet? I doubt they do that though because of Walmart.


Walmart does (did?) require that companies they do business with have a location in NWA. There are entire building complexes setup to provide a NWA address for companies. Basically providing just a room, mailbox, and phone. Similar to a coworking space. One of the offices I rented there reminded me of a motel with 100+ small rooms, each with some company name on the door.

Plus, because of Walmart, JB Hunt, Tyson, etc. in NWA, they actually do have quite a bit of comp sci / engineering talent in the region.

Walmart does (did?) require that companies they do business with have a location in NWA. There are entire building complexes setup to provide a NWA address for companies. Basically providing just a room, mailbox, and phone. Similar to a coworking space. One of the offices I rented there reminded me of a motel with 100+ small rooms, each with some company name on the door.

Plus, because of Walmart, JB Hunt, Tyson, etc. in NWA, they actually do have quite a bit of comp sci / engineering talent in the region.

So all the Chinese suppliers to Wal-mart have one of those rooms?

Usually those are just suppliers to a US counterpart company that then contracts with Walmart. So they may have an LLC whose function is basically just to be on paper in NWA. For what Walmart directly procures, I am not sure.