Canoo Selects Northwest Arkansas for its Headquarters, R&D Center and EV Industrialization FacilityNovember 15, 2021
Investments will Bring EV Technology and New Jobs to Bentonville and Fayetteville
Justin, TX (November 15, 2021) – Today, Canoo (Nasdaq: GOEV) announced that it has selected Bentonville, Arkansas as its headquarters and that it will establish an R&D center and an advanced industrialization and low-volume production facility for small package delivery vehicles in the state. These and other investments will bring at least 545 high paying jobs to Benton and Washington counties.
“We are proud to partner with the State of Arkansas to develop American-made clean energy vehicles,” said Tony Aquila, Investor, Chairman and CEO of Canoo, Inc. “Our investment in these new facilities will accelerate the development of high demand delivery vehicles for customers around the world. We thank Governor Hutchinson and his team for their leadership and vision for the state’s role in the mobility revolution.”
The R&D center will be located Fayetteville, Arkansas and will support advances in vehicle electronics and powertrain. The industrialization facility will be in Bentonville.
“Canoo’s selection of Northwest Arkansas for its corporate headquarters, technology hub and development facilities is an excellent example of why our state has put so much effort and energy into computer science education and workforce training and development in recent years,” Governor Hutchinson said. “As a leader in technology with a talent pool that prioritizes innovation, hard work, and entrepreneurship, Arkansas shares many of the values that Canoo embodies, making this partnership a natural fit.”
“Canoo is an American-made company with a vision for modernizing the future with its electric vehicle technology, and I am pleased that it will be making that vision come to life in Arkansas,” Arkansas Secretary of Commerce Mike Preston said. “Northwest Arkansas is one of the fastest-growing regions in the United States and a hub for technology and business development. I am confident that Northwest Arkansas and Canoo are perfect matches for each other. We expect great things from this partnership in the coming years and are happy to welcome Canoo to the Natural State.”
Canoo is working with Arkansas and Oklahoma to advance America’s capacity to lead the EV revolution, enabling sustainable business and jobs. Today’s announcements are part of transforming the U.S. Route 412 corridor from Oklahoma through
Arkansas into a center of electric vehicle research, development and manufacturing power. In June, 2021 Canoo selected Oklahoma as the site for its U.S. manufacturing facility.
Canoo’s mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that spans the full lifecycle of the vehicle. Distinguished by its experienced team from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space that is customizable across all owners in the vehicle lifecycle to support a wide range of vehicle applications for consumers and businesses. Canoo has offices in California and Texas.
For more information, please visit www.canoo.com. For Canoo press materials, including photos, please visit press.canoo.com. For investors, please visit investors.canoo.com.
Vice President, Communications
Arkansas Economic Development Commission