Canoo Acquires Arrival's Gear to Slash Production Costs
...Source: https://driveteslacanada.ca/news/cano... Transcript: Drive Tesla reports that EV startup Canoo has acquired manufacturing equipment from the bankrupt British EV company Arrival. Canoo paid 80% of the equipment's appraised value, aiming to cut production costs by 2025. The equipment will be shipped to Canoo’s Oklahoma plant, enhancing automation and reducing capital expenditures by 20%. Arrival, despite a $300 million cash injection last year, filed for bankruptcy and is selling off its assets.