Canoo To Build Battery Manufacturing Facility In Oklahoma

Electric vehicle startup Canoo Inc said on Wednesday it would build a battery manufacturing facility at Pryor in Oklahoma with a capacity of 3,200 Megawatt hours production.

The company's Pryor facility will make proprietary battery modules, energy management system and thermal control technology, CEO and Chairman Tony Aquila said.

Canoo added it will be the first electric vehicle company to produce battery modules using hydro-power from the Grand River Dam Authority.

The company's new battery manufacturing facility will be in the same industrial park as its future "MegaMicro" factory, Canoo said.

Canoo last year announced Panasonic Holdings Corp, which also supplies battery cells to Tesla Inc, will be its provider for manufacturing battery packs.

The EV startup, which is set to report third-quarter results on Nov. 9, had access to about $250 million in capital at the end of the second quarter.