Canoo Electric Vehicles selects Oklahoma for plant

[chssooner]

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

[FighttheGoodFight]

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

I mean the difference being Tesla actually has factories/makes cars. Canoo doesn't yet. I think that is a legit concern.

[gopokes88]

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

I'm ecstatic we landed it.

Given broader trends and frauds in the EV space, I'm extremely skeptical.

[Pete]

Man, if Oklahoma had lost this factory to another state, there would be complaints that Oklahoma needs to step their game up. Now that they won the bid, there is still bashing of Oklahoma. Can't win for losing, I guess...

Almost everyone has said they are happy for the state.

But there are also a lot of reasons to doubt this company will ever be able to perform, and that's based on hard information.


Both these things can be simultaneously true.

[FighttheGoodFight]

Little more info on the incentives to come to Oklahoma. ~300 million over all with 16 million in land and 15 million in cash as an upfront payment.

https://twitter.com/readfrontier/sta...863979522?s=21

[David]

I hope there's a clawback provision for that cash.

[Bill Robertson]

Those are some odd loving vehicles but I hope to see some of them on the road!

They are odd looking. But they say they're shooting for 500+ HP for the pickup version. Not shabby.

[shavethewhales]

That's a pretty wild slate of incentives, but I guess if it works, it works. This project needs to be watched closely, and it is concerning that the company is under investigation, but still... Going from conception to reality in this business is going to be rocky. If it all works out and they actually build this factory, I think the incentives will be worth it, but it's definitely a gamble.

I was hoping it wouldn't take that much to get them here, but I guess it makes sense seeing how many other places they could have gone that are probably better suited for it.

I am still rooting for them.

[BG918]

If Canoo is successful it will likely lead to suppliers and other companies setting up shop in NE OK. An excerpt from The Frontier article:

Economic development officials in the state hope Canoo will lure more electric vehicle makers and suppliers, helping make Oklahoma part of a regional manufacturing corridor for the burgeoning industry.

The electric vehicle industry is poised for major growth over the next decade, and landing one manufacturer is often the key to attracting other companies, Stewart said.

“It’s a very logical progression of an industry and the benefits it can bring to Oklahoma are significant and long-lasting,” he said.

[Jersey Boss]

Canoo is setting up headquarters in Walmart’s hometown, picks Panasonic as battery supplier | TechCrunch
https://techcrunch.com/2021/11/15/ca...tery-supplier/

[chssooner]

Canoo is setting up headquarters in Walmart’s hometown, picks Panasonic as battery supplier | TechCrunch
https://techcrunch.com/2021/11/15/ca...tery-supplier/

Ouch. Losing to Arkansas. Not good.

[Jake]

https://tulsaworld.com/business/loca...412bb7314.html

[dcsooner]

On the money front, the company reported a net loss of $80.9 million in the third quarter, about a fourfold increase from the $23.4 million in losses it reported in the same period last year.

[Plutonic Panda]

Damn. They should have made their HQ in Tulsa. Oh well, this is a good sign I guess it’s moving forward. OKC is also getting a slice of the pie as well which is good. Why have so much presence in Oklahoma only to relocate HQ to Arkansas? Is the business climate better there?

[Jake]

On the money front, the company reported a net loss of $80.9 million in the third quarter, about a fourfold increase from the $23.4 million in losses it reported in the same period last year.

I'm still skeptical of any of this actually happening.

[BG918]

Damn. They should have made their HQ in Tulsa. Oh well, this is a good sign I guess it’s moving forward. OKC is also getting a slice of the pie as well which is good. Why have so much presence in Oklahoma only to relocate HQ to Arkansas? Is the business climate better there?

Tulsa will be an R&D center with 375 new jobs planned. I’m still skeptical but they are certainly doubling down on the region.

[shavethewhales]

Ugh, it drives me nuts that no company wants to have an HQ here. The lack of a major university presence really hurts us. I wish UTulsa had grown better. ORU is rapidly expanding, but...

The supposed R&D center sounds like a political offering. We'll see how many jobs actually materialize.

[chssooner]

Ugh, it drives me nuts that no company wants to have an HQ here. The lack of a major university presence really hurts us. I wish UTulsa had grown better. ORU is rapidly expanding, but...

The supposed R&D center sounds like a political offering. We'll see how many jobs actually materialize.

Thank goodness our idiot governor favors Tulsa, rather than OKC, where there are 2 large universities, and a few other private colleges, as well.

[Plutonic Panda]

Tulsa will be an R&D center with 375 new jobs planned. I’m still skeptical but they are certainly doubling down on the region.

The WPIX oil building would have been great for the HQ.

[Plutonic Panda]

Thank goodness our idiot governor favors Tulsa, rather than OKC, where there are 2 large universities, and a few other private colleges, as well.

Meh, show Tulsa some love. OKC’s is fortunate to be able to hold a time while this moron governor we have does everything in his power to screw the state up beyond belief. Quite frankly and I don’t mean this as a knock on Tulsa but imagine if the place didn’t have George Kaiser. Similarly, imagine if OKC had someone like him who did some thing on the same scale. We got close with Aubrey but taken in the perspective I would say that Kaiser did more.

[dcsooner]

Ugh, it drives me nuts that no company wants to have an HQ here. The lack of a major university presence really hurts us. I wish UTulsa had grown better. ORU is rapidly expanding, but...

The supposed R&D center sounds like a political offering. We'll see how many jobs actually materialize.

I agree. OU, TU and OSU need to improve academic standing

[BG918]

Ugh, it drives me nuts that no company wants to have an HQ here. The lack of a major university presence really hurts us. I wish UTulsa had grown better. ORU is rapidly expanding, but...

The supposed R&D center sounds like a political offering. We'll see how many jobs actually materialize.

I think this has a Wal-Mart connection hence why they are in Bentonville. Tulsa will have the R&D center, Pryor has the factory and OKC has customer service ops. Net win for Oklahoma.

[progressiveboy]

I have always wondered why Oklahoma can never compete for major HQ relocations? What is it that makes Oklahoma so undesirable.? Just this week in DFW we landed a major international headquarters in Plano from Dublin, Ireland setting up their US HQ. A high tech company. Canoo sounds like a fly by night organization and I have my major doubts!! Oklahoma can do way better, however the question is "Does Oklahoma want to do better"?

[Plutonic Panda]

It really puzzles me. Do the “Oklahoma has a backwards reputation” really have merit? Is Arkansas that more progressive than Oklahoma?

[chssooner]

It really puzzles me. Do the “Oklahoma has a backwards reputation” really have merit? Is Arkansas that more progressive than Oklahoma?

I think it has less to do with being progressive (Arkansas is NOT progressive, by any means), and more to do with Oklahoma, at least at the very top, being less willing to market OKC vs Tulsa. Tulsa has its plusses, but they pale in comparison to OKC. Yet you only see the Governor calling for Tulsa to get in on these events. If a company sees that your top leader doesn't see the difference in the 2 cities, then why should they come here? Just my opinion. Sure, OKC has landed stuff under Stitt, but not with any help from him, either. But he is very vocal about getting Tulsa jobs.