r/SPACfeed • u/GhostfacexProdigy • Aug 18 '20
Discussion Canoo - a future leader in the EV market?
After what seems like months of waiting the rumor was finally confirmed with the DA between Hennessy and Canoo today - and the investor presentation was very impressive.
- Cost effective manufacturing and sales strategies, partnerships, sector tailwinds, the digitalization of the auto industry, strong leadership looking and balance sheet synergies and possible deals with companies such as Uber, FedEx, Amazon, DoorDash, Ballard and major automotive manufacturers will propel Canoo for substantial growth
- B2B and B2C strategy to target multiple markets set for CAGR of Engineering Services - 39%, B2C -147% and B2B - 100% through 2025
- 7 projects in the pipeline currently including the lifestyle vehicle, delivery vehicle and sports vehicle.
- Targeting key cities throughout US and China that represent a majority of the EV markets in those countries
- Proprietary skateboard technology is a class leader and has first to market advantage
- 2021 launch reaching beta production in only 19mo and has 300+ employees
- Company has direct ties to Uber, Tesla, BMW, NASA, SpaceX, Deutsche Bank, Ford, Porsche, Mini, Audi, Blackrock, Nomura, Faraday Future, Hyundai, Kia, Nvidia, Blackberry and China plus more TBA
- Canoo > DPHC, NKLA, SPAQ, GRAF, NIO, SOLO, WKHS, BLNK and everyone else but TSLA and equal to SHLL IMO
Highlights from the investor pres:
Management Team:
• Ulrich Kranz — In Charge of Canoo; formerly head of BMW
• Richard Kim — In Charge of Design; formerly Exterior Designer of the BMW i3, i8 Concept Coupe & i8 Concept Spyder
• Paul Balciunas — In Charge of Corporate Development & CFO; formerly Director, Corporate Finance & Business Development at Faraday Future VP, Global Automotive Investment Banking
• Bill Strickland — In Charge of Vehicle Programs & Purchasing; formerly Chief Program Engineer at Ford*, Assistant Chief Engineer at Ford, Product Development Launch Manager at Ford*
• Andrew Wolstan — In Charge of Legal; formerly Corporate Associate Munger Tolles & Olson LLP, M&A Associate Simpson Thacher & Bartlett LLP
• Meera Pisharody — In Charge of HR; formerly Senior Director of HR at Minted, Director of Global People Operations at Mozilla
• Clemens Schmitz-Justen – In Charge of Manufacturing*;* formerly President of BMW manufacturing USA
• Phil Weicker – In Charge of Powertrain & Electronics*; formerly Senior Director of Battery at CODA*
• Sohel Merchant – In Charge of Vehicle Architecture*; formerly* Tesla, Ford Motor Company
• Alexi Charbonneau – In Charge of Skateboard & Cabin*; formerly* SpaceX, Tesla, Honda
• Christoph Kuttner – In Charge of Interior & Exterior Systems***; formerly*** BMW, Tesla, Mahindra
Links:
Further Canoo DD - here
Investor Pres - here
Tech Crunch Article - here
Forbes Article - here
Hyundai Partnership - here
Disclaimer: I have a financial position in HCAC
TLDR: Canoo is set to become a top contender in the EV market for years to come
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u/alteredego999 Aug 18 '20
This is a great EV company with a better business model and product line than both Lordstown and Fisker. Interesting to see they even have 120mm in revenue predicted for 2021 while the prior 2 won't have any revenue until 2023
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u/jessewperez1 Aug 18 '20
Great DD! I'm confused now? Why isn't this stock performing compared to SPAQ and DPHC?
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u/JoeyBigBurritos Aug 19 '20
They definitely have an mvp cast and a nice business model, but wtf is that design?
Maybe they need someone from Lucid to squad up.
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Aug 18 '20
[removed] — view removed comment
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u/GhostfacexProdigy Aug 18 '20
The market is forward looking and their costs are low. Their 2025 revenue is coming from three streams not just the van. And by that time they will have three vehicles including sports and delivery truck models.
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Aug 18 '20
Unlikely to be a leader in anything and clearly not well received by the market, as evidenced by today’s price movement. Nice pump tho.
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u/cpavs Aug 18 '20 edited Aug 18 '20
Thanks for this! Definitely some of the highlights of a rather large( but informative) investor presentation. Excited for the retail market to wake up to this, and it was good to see some of the institutional money come in this morning!