An eagle eyed Canoo fan was driving by their Oklahoma City manufacturing facility when they spotted a Lifestyle Delivery Vehicle(LDV) 190 with AT&T logos driving out from behind the plant. When they swung back around to get a closer look the passengers were exiting and the vehicle was being parked.
The photo were first shared by user treelife07 on Stocktwits, a stock market focused social media app. When we asked them about their experience they told us "I had to do what all of us would do and swing in there and take some pictures...I was really surprised how large the van was. I pictured it being much smaller"
This shouldn't come as a surprise to anyone following the Canoo journey with us, as we reported earlier this March, Canoo had been seen showing off their vehicles outside of AT&T headquarters in Dallas TX.
AT&T also announced a pilot program with Rivian late last year, it should be noted they have a large fleet and won't be able to rely on a single manufacturer to meet their environmental goals as their fleet consists of a large range of vehicles with many different use cases and requirements.
As of 2018, AT&T had the largest commercial fleet in the nation, along side Canoo's other large scale client, the United States Postal Service. Many will argue that getting an order from AT&T or anyone else doesn't matter when they aren't really producing vehicles in any meaningful numbers due to budget constraints and high cost of ramping up a complicated process of vehicle manufacturing. However, in this case it's more about quality over quantity, locking in a partnership with AT&T would likely ease pressures on the stock price, but also make it easier to raise awareness and financing terms with lenders and institutional investors.
There are also opportunities for pre-payments, joint ventures and using the credit rating of those high value clients to do purchase order financing.
Although seeing a single EV with AT&T logos onsite at a Canoo facility doesn't guarantee there are any binding orders in the pipeline, we feel very confident this electrifying story will have a happy ending for all.
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