Guide to Canoo EVs: Models, Cost, Availability, and Range

Canoo

Article QuickTakes:

• What kinds of cars does Canoo make?
• How much will they cost?
• When can you buy one?

What Is Canoo?

Founded in 2017 as Evelozcity, Canoo is an Arkansas-based, publicly traded EV startup that has a few vehicles in the works, for both business and consumer needs. It also has a deal with NASA to build crew transportation vehicles for the agency’s upcoming Artemis lunar explorations by June, 2023. That, of course, depends on whether the company can stay afloat for another year, which is by no means certain. Canoo, which trades under the ticker symbol GOEV, recently stated in an SEC filing that it’s at risk of running out of cash: At the end of March, the firm had around $100 million—less than the company spent in the first quarter of 2022. If it can’t raise the money it needs, it could mean curtains for Canoo.

Canoo

What Kinds of Cars Will Canoo Make?

If it can survive its financial troubles, Canoo will kick off production at its Arkansas plant with the Multi-Purpose Delivery Vehicle and the Lifestyle Vehicle. The MPDV is a 200-hp electric van aimed at commercial customers who might otherwise look at a Ford Transit or Mercedes-Benz Sprinter. It will come in two sizes and provide between 90 and 230 miles of range, depending on the configuration and battery capacity.

The company also has plans for an electric pickup truck uncreatively named the Pickup Truck. It will ride on the same skateboard platform as Canoo’s other vehicles and boast a 200-plus-mile range and an 1,800-pound payload rating. What will set it apart is its modular, extendable bed with flip-down workbenches. It will come in single- and dual-motor forms, with the latter offering up to 600 hp and 550 lb.-ft. of torque.

Canoo

The consumer-focused LV is a cross between a minivan and an SUV, offering an estimated 250 miles of range from a single-motor, rear-wheel-drive configuration, as well as a number of trim levels (including a two-seat delivery van and a towing-capable Adventure model) to accommodate various needs. Canoo hopes the LV’s wraparound rear bench seat and panoramic glass canopy will make the interior feel even more spacious than it is.

How Much Will a Canoo EV Cost?

Currently, Canoo is advertising base prices of about $35,000 for the LV and $33,000 for the MPDV. We suspect the destination charge will bring those outlays up by $1,500 or so. No word yet on how much the Pickup Truck will cost, but interested parties can preorder any of these models through Canoo’s website with a refundable $100 deposit.

When Will Canoo EVs Go on Sale?

Canoo intends to build about 3,000 vehicles in 2022, 17,000 in 2023, and 40,000 in 2024. If all goes to plan, production will start with the MPDV and LV in the fourth quarter of this year. But new vehicle production is notoriously difficult to ramp up even without the ongoing financial concerns Canoo is facing. The next year will likely make or break this EV startup.