Canoo Electric Vehicles selects Oklahoma for plant

[chssooner]

You have to remember that the governor lives and has his company in Tulsa. He naturally tends to push projects that way.

He has tried this, and quite a few of these types of announcements have still gone to OKC, despite him actively telling companies Tulsa is better (from people i know who would know, he is almost a bigger recruiter for Tulsa than their own chamber). Makes what OKC is doing, in spite of what the governor is telling companies, more impressive.

But enough about the city vs city thing. Just glad to get a huge development like this.

[ChrisHayes]

I've been tracking this for a while...

OKC made a major pitch and they were trying to get them to build at I-240 and Eastern:

What used to be on that plot of land? I'm guessing a tornado wiped it out.

[WheelerD Guy]

I’ll be pleasantly surprised if they end up building this. Most of these EV startups don’t have the capital to follow through on much of anything.

[Laramie]

Oklahoman, 06-18-2021

Electric Car Plant, good news for our sister city of Tulsa. A plant of this size and magnitude is sure to attract a number of satellite companies to neighboring Tulsa.

Wish them the best of luck.

[jccouger]

Any EV company that isn't Tesla has major major work ahead of them to ever become a legitimate company.

[catcherinthewry]

What used to be on that plot of land? I'm guessing a tornado wiped it out.

I don't remember anything ever being on that square mile.

[G.Walker]

I'm sure with Stitt being from Tulsa has something to do with it. He was probably making his home city look a lot more business attractive, lol.

Maybe he feels it was owed to them, since they lost out on the Tesla deal.

[shavethewhales]

I'm sure Stitt had very little to do with landing this. Mid American Industrial Park is a pretty serious enterprise and they have a lot to offer and market themselves very well. They landed a huge Google facility... Local govs like to take credit, but businesses go where it makes sense for them to go, and Mid American is good at making the case that it makes sense for businesses to locate there. They have good rail infrastructure, close access to Port of Catoosa, cheap reliable power, and are close enough to population centers to get employees while being out it the boondocks enough to make building anything you want pretty easy.

[chssooner]

I'm sure Stitt had very little to do with landing this. Mid American Industrial Park is a pretty serious enterprise and they have a lot to offer and market themselves very well. They landed a huge Google facility... Local govs like to take credit, but businesses go where it makes sense for them to go, and Mid American is good at making the case that it makes sense for businesses to locate there. They have good rail infrastructure, close access to Port of Catoosa, cheap reliable power, and are close enough to population centers to get employees while being out it the boondocks enough to make building anything you want pretty easy.

If they received a large amount of state incentives, then he DEFINITELY had a lot to do with it. Sure, infrastructure is there. But companies don't build huge plants like this without massive subsidies, since that is the way of the world, unfortunately.

[Bunty]

If they received a large amount of state incentives, then he DEFINITELY had a lot to do with it. Sure, infrastructure is there. But companies don't build huge plants like this without massive subsidies, since that is the way of the world, unfortunately.

True to the tune of $300 million, according to company CEO. Unusual, though, how the state doesn't want to confirm it: https://www.stwnewspress.com/news/ok...26a2a9563.html

Former Senator Nickles helped: https://tulsaworld.com/business/loca...me-top-story-1

[Bunty]

I'm sure Stitt had very little to do with landing this. Mid American Industrial Park is a pretty serious enterprise and they have a lot to offer and market themselves very well. They landed a huge Google facility... Local govs like to take credit, but businesses go where it makes sense for them to go, and Mid American is good at making the case that it makes sense for businesses to locate there. They have good rail infrastructure, close access to Port of Catoosa, cheap reliable power, and are close enough to population centers to get employees while being out it the boondocks enough to make building anything you want pretty easy.

'Beginning of a new wave': MidAmerica Industrial Park wants to capitalize on Canoo investment in Pryor: https://tulsaworld.com/business/loca...b3dcc883a.html

[David]

True to the tune of $300 million, according to company CEO. Unusual, though, how the state doesn't want to confirm it: https://www.stwnewspress.com/news/ok...26a2a9563.html

Former Senator Nickles helped: https://tulsaworld.com/business/loca...me-top-story-1

I hope there's a clawback process for any actual dollars spent if and when this arrangement falls through.

[HangryHippo]

I hope there's a clawback process for any actual dollars spent if and when this arrangement falls through.

This!

[jerrywall]

I hope there's a clawback process for any actual dollars spent if and when this arrangement falls through.

Outside of land purchases and such, aren't most incentives based on performance metrics?

Of course, this would all be easier to decode if this information was public. I understand needing some confidentiality during the process, but at some point all the details need to be released.

[FighttheGoodFight]

Outside of land purchases and such, aren't most incentives based on performance metrics?

Of course, this would all be easier to decode if this information was public. I understand needing some confidentiality during the process, but at some point all the details need to be released.

I assume they will come back as the legislature is interested in what was promised from both sides.

[GoGators]

Animation of the conceptual design for the Oklahoma campus

[Jersey Boss]

Outside of land purchases and such, aren't most incentives based on performance metrics?

Of course, this would all be easier to decode if this information was public. I understand needing some confidentiality during the process, but at some point all the details need to be released.

In as much the process is over, the details should already be released. Stitt has shown a penchant for keeping the public in the dark. No details means no accountability. The Covid reports generated by the Feds are an example. My opinion is partly based on the fact that not only is this company a start up but more importantly is the fact that it is under SEC investigation.

[Pete]

The Canoo people are talking about the deal publicly, so it's not like the state needs to withhold info to avoid killing the deal (the common excuse given for secrecy).

They just don't want the hard numbers out because they know people will raise objections and they want to just shove this through.

[ChrisHayes]

I'm not a fan of electric cars for a whole host of reasons, and I think Canoo should at least change their designs a bit. However, I really hope this works out. One of my dreams for Oklahoma is it to be a huge manufacturing hub. We can certainly generate a work force for manufacturing with all of the tech schools.

[BG918]

I'm not a fan of electric cars for a whole host of reasons, and I think Canoo should at least change their designs a bit. However, I really hope this works out. One of my dreams for Oklahoma is it to be a huge manufacturing hub. We can certainly generate a work force for manufacturing with all of the tech schools.

NE Oklahoma has a large skilled manufacturing workforce thanks to existing industries and trade schools like Tulsa Tech, Tulsa Welding School, Spartan and TCC. Manufacturing of various O&G components, heat exchangers, mechanical equipment, aircraft parts and various other misc things like Whirlpool appliances and paper products at Kimberley Clark and Sofidel . With the downturn in O&G many of these same types of jobs could be easily transferred to electric car production with sites east of Tulsa with highway, waterway and rail access.

[gopokes88]

The Canoo people are talking about the deal publicly, so it's not like the state needs to withhold info to avoid killing the deal (the common excuse given for secrecy).

They just don't want the hard numbers out because they know people will raise objections and they want to just shove this through.

Or the fact Canoo like almost every other electric start up company is probably a scam and likely to be bankrupt within 24 months. They're not any different than Lordstown Motors or Nikola.

[Pete]

Or the fact Canoo like almost every other electric start up company is probably a scam and likely to be bankrupt within 24 months. They're not any different than Lordstown Motors or Nikola.

I'm sure Stitt wants them to hold on long enough so he can use this deal as a feather in his cap for the November 2022 reelection.

[gopokes88]

https://twitter.com/HindenburgRes/st...519417861?s=20

https://hindenburgresearch.com/nikola/

[gopokes88]

I'm sure Stitt wants them to hold on long enough so he can use this deal as a feather in his cap for the November 2022 reelection.

Broader economy will determine that.

Nikola has been proven to be a scam. Still churning along as a $7B stock somehow.

[GoGators]

Or the fact Canoo like almost every other electric start up company is probably a scam and likely to be bankrupt within 24 months. They're not any different than Lordstown Motors or Nikola.

Unfortunately, I think you are spot on with this take.