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Canoo Announces EV Battery Module Manufacturing Facility in Oklahoma

12/14/2022

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Canoo (NASDAQ: GOEV), a leading high-tech advanced mobility company has announced a battery module manufacturing facility at MidAmerica Industrial Park in Pryor, OK. The new facility will expand Canoo’s manufacturing and employment footprint in the region. Once ramped, the facility will be capable of approximately 320 MWhs of battery module manufacturing capacity.

“We are accelerating our hiring plans in Pryor with the establishment of our EV Battery Module Manufacturing Facility, which will produce our proprietary battery modules, energy management system and thermal control technology for our MPP platform” said Tony Aquila, Chairman and CEO at Canoo. “This is the first building block for Canoo’s production ramp strategy, with more news coming very soon. The location has been strategically selected due to its proximity to our battery cell partner Panasonic and our future Mega-Micro factory. In addition, we will be the first EV company to produce our battery modules with Hydro-Power from the Grand River Dam Authority. We will work closely with and hire within the surrounding communities to create an EV Ecosystem in the region.”

Canoo previously announced Panasonic as its battery cell provider. The company will begin renovations on its 100K sq.ft building located on a 10-acre campus in Q4, 2022 in preparation for delivery of secured manufacturing equipment in Q1, 2023. This location will produce proprietary battery modules on high-capacity assembly lines with state-of-the-art automated machinery. Canoo has refined and validated its battery module manufacturing over recent months and is awaiting delivery of machinery at the new facility. The battery campus will be powered by hydroelectricity from Grand River Dam Authority. 

Canoo’s battery campus will implement workforce training programs in partnership with the Cherokee Nation, MidAmerica and other local training partners with a goal to provide high paying light blue collar jobs to the local community.

“We are very excited about Canoo accelerating their activities in Pryor with this Battery Module Manufacturing Facility as they ramp up production and ultimately prepare the site for their previously announced MegaMicro Factory,” said Dave Stewart, CEO of MAIP. "This is a very encouraging signal to the community and the state of Oklahoma as we continue to attract high-technology companies and jobs.”

The Battery Facility will be in proximity to Canoo’s 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. When built, 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.


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