*Updated version* Notes from today’s investor webinar with #ForceFamily office. .
Canoo investor webinar
- the IRA $7500 is fully accessible for our fleet customers
- our drive-by wire is exciting, can be LHD, RHD, front or back of vehicle ..... important for use cases of our government and military applications
- steer-by-wire has redundancy of 12V also Nitin:
- can easily adapt from 400v to 800V system, if future needed
- battery packs are built to 5kWh, saving warranty and maintenance
- Walmart truck minor mods for LDV 130 cuFt (18 totes) to LDV 190 cuFt (42 totes, 100% of Walmart use cases)
- Globally protected IP 232 patents
Greg: Discussed benefits of the 1st to 4th user, 1 million miles, software overlay and upfitting opportunities, etc.
- Walmart (is clearly very alive)
- focused on class 1 and 2
- Greg Etheridge (CFO) is in OKC now, for customer deliveries in OKC this afternoon!!
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1st set of questions *Corrected*
Q : What are the biggest challenges you're facing in next 12-months : showing that we moving from low-scale (current capacity of 1 vehicle per day) to high volume 8 per hour. We need to walk before we run, and make steady progress. \We just bought some machinery cheaply from a competitor, showing judicious use of capital
Q: What are the milestones investors should look for in next 12 months : Army and military use cases. the LDV measured delivering to backlog of customers, and additional wins of contracts. We don't know exactly when, when dealing customer such as DoD
Q : Is the LDV in production today ? YES in process of delivering this
Q. We can produce 1 per day, ramping up to higher volume Q1 2024, and working of supply chain harmonization
Q : will there be a reverse split ? DoD fundung ? Greg : notice was given by NASDAQ extension till end of March, we haven't made final decision on reverse split. on the DOE, we are working with many agencies and on DOE we continue to work with them.
Q: US postal contract, USPS can you discuss ? I cannot talk in detail, will announce if needed. Cannot talk on social media speculation. On the use case we think we are a player in the next round of RFPs.
Q : partnership with Fortune 100 and 500 ? we hope to announce shortly. Been longer than we expected, expect in new year
Q : how quickly can you fill Walmart's order ? our relationship with Walmart is deep, they love the vehicles...for their
e-commerce strategy, we hopeful to get vehicles on the road in a meaningful way Q2 or Q3 2024.
Q : Do you see opportunities in international market ? yes, our vehicle would be phenomenal in Europe and middle east. We have plenty of work in NA before spending time and work overseas. We always thinking of BizDev opportunities
Q : What is the vehicle service structure ? 7 adjacent fleet blocks to commercial fleets. will partner and will do in-house. More work to be done.
Q : On stock price action, why is market not endorsing your commitment ? The market is challenged last 18-months. Sector is under fire. Recently, there has been strong interest that has not resulted in price appreciation. The dilutive effect has had impact on our stock price. After $1.6BN raised, we think we should be valued, market valuing at discount and there is meaningful upside when look at the cost.
-- Greg: We have really interesting VR tech for vehicle technicians
Q: Partnering with Google cloud and Onix, will you offer mapping and route changes to your delivery customers ? we have in house operating system called Canoo Hub, pulling all relevent data vehicle and post it to cloud of our fleet customer.
Q: Are you on track for breakeven timeframe ? Yes in 2025
Q : is Canoo on track for 20,000 runrate ? Yes. Q1 readiness. It was pushed back due to capital, we are opportunistic purchasers of machinery at discounted prices.
Q : how hard to swap top hats ? Ability to change body is straightforward. Design is to keep rolling chassis independent from body. Few hours of changeover process
Greg: We think our price is good value. Exciting to building family office networks, expect a series of webinars.
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