The EV era is now in full swing and mobility is being redefined. Canoo Holdings Ltd. is one of the companies at the forefront of this movement, which should see utilization soar in a post-Covid era as EV infrastructure becomes ubiquitous with the help of government subsidies and the industrialization and commercialization of the vehicles reaches maturity through partnerships.
The company will go public through a merger with SPAC Hennessy Capital Acquisition Corp. IV (ticker: HCAC) and will make its debut on Nasdaq under the ticker EVGO after Hennessy Capital shareholders vote in favor of the pending merger.
Canoo’s model is its skateboard platform that was designed to allow the most possible vehicle interior space. The skateboard serves as the base for a range of vehicle designs known as top hats that have a wide range of cabin layouts.
Walmart Inc. has already bought electric long-haul vehicles and said it aims to convert its whole fleet in the next several years. And with recent investments in its last-mile operations, the next step could easily be to switch to an all-electric last mile fleet. Such a massive contract would be transformational for Canoo and extremely lucrative for investors.
Demand for last mile delivery has been strong, according to Paul Balciunas, Chief Financial Officer of Canoo, who joined IPO Edge’s November 16 event: Acceleration of Electrification: California’s 2035 Ban and the Future of EVs, Energy Technology and Regulation. Mr. Balciunas spoke at the event with The California Governor’s Office of Business and Economic Development, CEOs and senior executives from Blink Charging Co., QuantumScape, XL Fleet, Lordstown Motors and Romeo Power, along with Vinson & Elkins LLP and Nasdaq. The event featured data from Sentieo, an AI-enable research platform.
To hear more from Mr. Balciunas and the other event speakers listed below, watch the full two-hour replay here.
- Tyson Eckerle, Deputy Director, Zero Emission Vehicle Market Development, California Governor’s Office of Business and Economic Development
- Steve Burns, Founder, Chairman and CEO, Lordstown Motors Corp. (NASDAQ: RIDE)
- Michael Farkas, Founder Executive Chairman and CEO, Blink Charging (NASDAQ: BLNK)
- Lionel Selwood, Jr., CEO, Romeo Power (Merging with RMG Acquisition Corp., NYSE: RMG)
- Tod Hynes, Founder and Chief Strategy Officer, XL Fleet (Merging with Pivotal Investment Corp. II, NYSE: PIC)
- Jagdeep Singh, Founder and CEO, QuantumScape (Merging with Kensington Capital Acquisition Corp., NYSE: KCAC)
- Paul Balciunas, CFO, Canoo (Merging with Hennessy Capital Acquisition Corp. IV, NASDAQ: HCAC)
- Jack Cassel, Vice President, Listings & Capital Markets, Nasdaq
- Mark Saraiva, Managing Director and Head of Transportation Group, Cowen Inc.
- Ramey Layne, Partner, Capital Markets and Mergers & Acquisitions, Vinson & Elkins
- Hope King, Multimedia Editor, IPO Edge
- Jarrett Banks, Editor-at-Large, IPO Edge
- John Jannarone, Editor-in-Chief, IPO Edge
John Jannarone, Editor-in-Chief