‘American Bulldog’ by Canoo Is Coming for Rivian, F-150 Lightning, Tesla Cybertruck
Though it’s burning through cash and recovering from an SEC investigation, EV startup Canoo continues to valiantly press forward. Its latest is the “American Bulldog” pickup/SUV. Canoo’s “lifestyle vehicles” have found some very un-lifestyle customers like NASA and the U.S. Army. It is also developing high-capacity battery packs for the Defense Department.
All of this background activity gives more off-road cred to its American Bulldog truck. “Like the American Bulldog, this vehicle is loyal and courageous,” CEO Tony Aquila says in a statement. “It’s woven into the American spirit and reflects this country’s innovation. When we say ‘Made in America,’ we mean it.”
What features does the Canoo American Bulldog have?
The American Bulldog is a variant of the vehicle the U.S. Army is currently testing. It features a lightweight honeycomb design, with steer-by-wire and brake-by-wire technology. Though going unmentioned for the Bulldog’s release, the military version has a 600-hp four-wheel drive powertrain.
All of its vehicles also take advantage of a modular design, so they can transform from flatbed trucks to cargo vans or pickups. It also features air springs for extra ground clearance and rides on 32-inch off-road tires.
It appears that Canoo is banking on American pride to increase its exposure and sales of EVs. Unfortunately, the EV maker has had little of both. With production requiring much more capital than it has on hand, it is unclear if Canoo will be able to produce the American Bulldog. The Bentonville, Arkansas, company is just now seeing revenue from sales after being in business for six years.
How solvent is Canoo?
If Canoo can hang on, and its defense, commercial, and NASA sales buoy it, there’s a chance we may see the American Bulldog in production. This past April, the company purchased a second manufacturing facility in Oklahoma City. Its primary assembly plant is in Justin, Texas. So it appears to be able to satisfy its intent to build 20,000 vehicles a year.
But without capital, that will be next to impossible without another transfusion of investor money. Forecasts show that there will be some profit this year, rising substantially in 2024. Its stock has been holding steady since August, with some analysts predicting its value to rise to $10 a share. It’s currently at $0.24.
Canoo debuted its modular cargo van back in 2019. Since then, several versions have been shown, some similar to the American Bulldog truck. The next year will determine if the EV manufacturer can make it or not.