Canoo Inc. (NASDAQ:GOEV) announced its official entry into the U.K. market by establishing Canoo Technologies UK Limited. This move represents a key milestone in the company’s global expansion strategy.
“Our expansion into the UK is a key milestone in our global growth strategy, enabling us to establish a local presence for our commercial customers to better serve their needs,” said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo.
Canoo has chosen Bicester Motion, a historic automotive campus, for its Activation Center, allowing U.K. customers to experience and test drive right-hand drive commercial electric vans.
The CEO noted that the U.K. activation center at Bicester Motion would enable the company to utilize local expertise and enhance its commercial operations in a promising market, highlighting incentives like the plug-in van grant (PIVG) that support growing demand and align with the government’s zero-emissions goals.
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Aquila expressed anticipation for sharing more details soon. The site, formerly a WWII Royal Air Force base, highlights the enduring partnership between the U.S. and the U.K., founded on shared values and economic collaboration, as Canoo advances its mission of providing sustainable mobility solutions worldwide, per a press release.
This initiative marks a crucial milestone in Canoo’s global expansion, paving the way for introducing innovative commercial electric vehicle (EV) solutions in the U.K.
Bicester Motion will function as Canoo’s operational, customer, and activation hub, creating a vibrant base for its commercial activities throughout the U.K. and Europe, with plans to open in October.
Price Action: GOEV shares are trading lower by 0.99% to $0.9707 at last check Tuesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
