The U.S. EV startup Canoo earlier this week announced that it had acquired “a substantial portion of the advanced manufacturing assets” formerly owned by the U.K. startup Arrival for “pennies on the dollar.”
The assets acquired by Canoo from the failed startup include robots, control equipment, and dynamic vehicle testing equipment, it said.
“These assets enable the company to increase its general assembly and vehicle cabin build capacity and provide redundancy in the event of equipment malfunction, thereby increasing efficiency and productivity,” Canoo explained. So if Canoo can tap into the know-how and manufacturing expertise necessary to put this equipment to use, this equipment might help it ramp up production of some components, if not the vehicles themselves, at lower cost.
Canoo had already acquired what remained of Arrival’s South Carolina facility in…
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