Canoo Announces Commercial Fleet Order from Go2 Delivery

Carbon-free courier to purchase up to 90 Class 1 electric delivery vans for on-demand, route-based last-mile healthcare deliveries

JUSTIN, Texas, July 03, 2024 (GLOBE NEWSWIRE) — Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that Go2 Delivery, a provider of sustainable logistics solutions, has signed a definitive agreement to purchase five all-electric commercial delivery vans with the option to purchase up to 85 additional vans. Go2 Delivery will integrate Canoo’s popular Lifestyle 130 Class 1 Delivery Vehicle (LDV130) into its delivery fleet to improve operational efficiency, provide environmentally friendly deliveries to its customers and significantly reduce its environmental impact.

The company selected Canoo’s LDV vehicles to accelerate its commitment to becoming the first carbon-free logistics company to meet the last-mile transportation and other delivery needs of its customers in Virginia and the Chesapeake Bay region.

Canoo’s all-electric Lifestyle LDV130 delivery vehicles provide Go2 Delivery with the durability, range, reliability, configuration and cargo space needed to meet the rigorous demands of its logistics operations.

Go2 Delivery provides same-day courier and last-mile delivery services to B2B and B2C customers in the retail, healthcare and e-commerce industries.

About Go2 Delivery

Built on the 25-year legacy of Mobile One Courier, Go2 Delivery is a carbon-free courier company committed to sustainable practices and restoring the local Chesapeake Bay ecosystem. Rooted in values ​​of innovation, minimalism, and interconnectivity, Go2 Delivery strives to provide exceptional service while actively working toward a greener future. www.go2delivery.com

For more information about GO2 Delivery and its services, please visit https://go2delivery.com.

About Canoo

Canoo Inc. (NASDAQ: GOVERNMENT) is on a mission to bring electric vehicles to all. The company has developed revolutionary electric vehicles that are reinventing the automotive landscape through their pioneering technologies, unique design, and business model that extends to multiple owners throughout the vehicle lifecycle. Canoo has designed a modular electric platform that is purpose-built to maximize vehicle interior space and customizable for all owners throughout the vehicle lifecycle to support a wide range of commercial and consumer applications. Canoo has teams in California, Texas, Oklahoma, and Michigan. For more information, visit www.canoo.com And investors.canoo.com.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. These forward-looking statements include, but are not limited to, statements about our plans, expectations and objectives regarding the results and timing of the reverse stock split and the effect that the reverse stock split will have on the Company’s ability to regain compliance with Nasdaq’s listing standards. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Canoo’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to be, and should not be relied upon as, a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from those assumed. Many actual events and circumstances are beyond Canoo’s control. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; Canoo’s ability to access future capital, through debt or equity markets or other sources; the deployment of Canoo’s business and the timing of anticipated commercial milestones and commercial launch; future market adoption of Canoo’s offerings; risks related to Canoo’s go-to-market strategy and manufacturing strategy; risks related to Canoo’s ability to invest in future capital, through debt or equity markets or other sources; the effects of competition on Canoo’s future operations; and the factors discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Canoo’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission. U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2024, as well as its past and future Quarterly Reports on Form 10-Q and other filings with the SEC, copies of which may be obtained by visiting Canoo’s Investor Relations website at investors.canoo.com or the SEC’s website at www.sec.gov. If any of these risks materialize or if our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Canoo is not currently aware of or that Canoo currently believes are not material that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Canoo’s expectations, plans or projections regarding future events and views as of the date of this press release. Canoo anticipates that subsequent events and developments will cause its assessments to change.

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However, while Canoo may elect to update these forward-looking statements at some point in the future, Canoo expressly disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Canoo’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.

CONTACT: Media Contacts [email protected]   Investor Relations Contact [email protected] Yedda Stancil, Go2 Delivery, 1 804-405-4358, [email protected]