EV Startup Insanity: Will the Canoo EV Truck Make It?

Electric vehicles are getting renewed attention these days, and for good reason. It’s not just environmental benefits but they can outperform most internal combustion technology in every way. And many outdoor enthusiasts are watching closely for all-electric truck models trickling into the market. One such company has been hinting at a distinctive pickup design capturing the imagination of many. And it appears that the Canoo EV Truck may make its long-awaited appearance in early 2023. Let’s see what the talk is about.

What Is the Canoo Truck? 

Canoo is a startup company that manufactures electric vehicles. They plan to assemble and market an all-electric minivan, an all-purpose commercial vehicle, and an electric truck. 

The truck has a rounded forward cab, like commercial vans with a snub nose, where the driver sits over the front axle. Since it won’t have an engine at the front of the vehicle, the truck can seat four in the cab easily. And with a 6-ft bed, it still measures almost 2 ft shorter than today’s comparable pickup trucks. While it looks funny the design may offer more functionality than most traditional “engine forward” designs of today.

The Canoo truck has several unique features, including fold-down sides on the bed and an extendable rear tailgate with barn doors. Plus, a slide-out floor turns the truck bed into a full-size 8 ft-long cargo space, and the tailgate doors fold out. 

This pickup has a front trunk with outlets to use at a job site or campsite. If everything falls into place as the company hopes, the Canoo truck should hit the market by early 2023.

Does the Canoo Truck Have a Future?

Canoo has had some difficulty with consistent leadership recently, making prospective buyers and investors unsure of its future. As with any new vehicle manufacturer, getting off the ground with a new idea is a struggle. Actually designing and building a few of these trucks is the easy part. Meeting all the regulatory hurdles, then actually mass-producing the vehicle is the hard part.

As Canoo is publicly traded in their first quarter 2022 earnings report they admitted to burning through cash quickly. Its hard to say from earnings reports alone how a company is being run but at this point, their success seems like it could be on the fence.

In Canoo’s case, they had an initial partnership agreement with automotive manufacturer Hyundai, which they terminated due to changes in their corporate structure, as their two founders left the company. And a tentative agreement with Apple to work on their Titan car project fell through.

But it appears that the company has finally found level footing with the recent announcements of a new CEO and a commitment to a new factory to build the Canoo truck. The factory will eventually handle the manufacturing of all their vehicle lines because of the skateboard chassis. The truck, minivan, and all-purpose vehicle all require only one chassis assembly line. 

By 2019 Canoo had employed 435 people, which has already increased to over 800. The company has a new office headquarters and manufacturing hub in Bentonville, AR. It seems Canoo is on its way to making its electric vehicle dream come true.

What’s Cool About the Canoo EV Truck?

The Canoo truck has several useful and unique features, including fold-down sides that you can use as a workspace. And it features a tailgate that extends the bed from 6 to 8 ft. The truck will have an all-wheel-drive option, getting about 200 miles per charge with an 80kWh battery. Or you can get a rear-wheel drive and a possible 250 miles per charge.

It has a targeted 500 hp with a payload of up to 1,800 lbs. But the company has not announced a towing capacity yet. And currently, it will only have one color option. However, you can order customized wraps to make the vehicle unique.

Pro Tip: Do you have an electric vehicle? If you’re taking it on your camping trip, find out Can You Charge Your Electric Car at an RV Park Campground?

Who Makes Canoo?

Canoo is a publicly-traded electric vehicle company (GOEV), but initially, they had a partnership with Hyundai. This would have given them experience in the automotive segment. But now, on its own, Canoo is attempting to prove that it can break into the EV market successfully. To do so, it is building assembly plants in Pryor, OK, and Bentonville, AR.

Does Canoo Have a Working Prototype? 

All three Canoo vehicles have working prototypes with innovative features and shared mechanics. Each starts with the same skateboard chassis with the cabin directly above the front axle, creating a shorter and more efficient vehicle. 

The Canoo truck and other prototypes appear to have the same frontal design. The engineering differences on the rest depend on their use as commercial or personal vehicles. The travel range will differ based on the size of the batteries included.

Can You Buy a Canoo? 

Canoo will manufacture electric vehicles like trucks, minivans, and commercial vans when assembly lines are up and running. The company initially planned to offer the trucks and minivans on a subscription basis, where users paid a monthly fee for registration, licensing, charging, insurance, and servicing. 

But Canoo recently changed its marketing strategy to mimic all the other automobile manufacturers and will offer them for sale when they become available. The first minivans for purchase should release by the end of this year, with trucks coming in 2023. First, the company has to finish the new assembly plant in Pryor, OK. You can preorder a Canoo truck today with a $100 fully-refundable deposit.

Pro Tip: With electric cars, vans and trucks, we must wonder are electric RVs the future? We uncovered The Reason We Haven’t Seen One Yet.

How Much Does the Canoo Truck Cost? 

Because Canoo has yet to manufacture the truck, the price to purchase one is simply a guess. Most agree that Canoo will offer the all-electric truck for somewhere between $35,000 and $50,000 when it premiers in 2023. Of course, those estimates don’t include recent industry frustrations with limited supply chains and work shortages. So the MSRPs may rise significantly.

Is the Canoo Truck Worth Investing In?

When Canoo was founded in 2017, they were ahead of the electric vehicle revolution. But with the challenges it has faced in recent years, the industry has caught up with Canoo’s ideas. It may be smart to sit back and watch the company’s first vehicles come off the line before diving in for a purchase. Consistent performance will be important in convincing the general public that Canoo is a serious contender in the EV truck market. 

Personally, we hope to see them succeed, the more competition in the market the better the trucks will be. We cant wait to get our first EV pickup and hope that Canoo can actually make their 2023 goals to be in the running with all the new models.

Are you interested in a Canoo electric truck? Tell us in the comments!

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