Canoo Expands Scope Of Its Partnership With US Department Of Defense Unit
Portfolio Pulse from Nabaparna Bhattacharya
Canoo Inc. (NASDAQ:GOEV) has expanded its partnership with the U.S. Department of Defense's Defense Innovation Unit (DIU) to develop a high-power battery pack. This partnership validates Canoo's technological and operational reliability for demanding U.S. government projects. The battery pack will set the standard for energy-dense lithium batteries for the U.S. Navy. Despite this, GOEV shares are trading lower by 2.3%.
July 10, 2023 | 2:12 pm
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Canoo's expanded partnership with the U.S. Department of Defense could potentially boost its reputation and future prospects. However, the company's stock is currently trading lower.
The expanded partnership with the U.S. Department of Defense validates Canoo's technological capabilities and could potentially open up more opportunities for the company. However, despite this positive news, the company's stock is currently trading lower, indicating that other factors may be influencing the stock's performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100