Canoo Inks Deal with USPS: Postal Service to Acquire 6 Electric Vehicles
Portfolio Pulse from Anan Ashraf
Canoo Inc. (NASDAQ:GOEV) has announced a deal with the U.S. Postal Service (USPS) to supply six electric vehicles as part of USPS's $40 billion investment strategy. The vehicles, Canoo's Lifestyle Delivery Vehicle 190 (LDV 190), are expected to be delivered in Q1 2024. This purchase aligns with USPS's goal to have 66,000 EVs by 2028, including 45,000 battery-electric Next Generation Delivery Vehicles. USPS's total EV procurement plans include 21,000 vehicles, with 9,250 from Ford Motor Co, depending on market and operational factors.
January 26, 2024 | 2:46 am
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Canoo Inc. has secured a deal with USPS for the delivery of six electric vehicles, which may lead to further opportunities within the USPS's extensive EV procurement plans.
The deal with USPS is a positive development for Canoo Inc., indicating potential revenue growth and increased market credibility. The news could boost investor confidence and drive short-term stock price appreciation. However, the size of the deal relative to the total USPS procurement plan and the fact that it's for a small number of vehicles tempers the impact slightly.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80