Those new electric vehicles being manufactured by Canoo at its Oklahoma City manufacturing plant will cost more than the current average price of $44,331 for a new non-luxury car in the U.S.
In a recent article in the Yukon Progress, Canoo CEO Tony Aquila said his EVs will have a price range of $50,000 to $60,000. The new Canoo cars will have a range of 200 to 250 miles.
Financial author Clark Howard estimated the average price for new electric vehicles, as of October, was $51,726, an increase of $1.436 compared to September 2023. However, compared to last year, the average cost of a new EV is own more than $13,000 because of big declines in the prices of Teslas.
Canoo is moving ahead with hiring workers for the Oklahoma City manufacturing plant located along Interstate 40 and Morgan Road. The current employees, based on Aquila’s information, are paid between $18 and $26 per hour and some are making up to $30 an hour.
Aquila indicated his firm will have 120 workers by the end of this year and eventually hire 700 employees.
Canoo has a contract to provide up to 1,000 EVs to the state of Oklahoma. The company was offered up to $15 million in incentives by the state’s Quick Action Closing Fund. But Aquila says his company has yet to receive any state funding to launch the manufacturing plant in Oklahoma City and an EV battery operation in Pryor.
“We still lhave never taken a dollar from the State of Oklahoma,” said Aquila, according to the Yukon Progress.
He said his firm has invested a lot in the state.
“The way the governor has put this deal together, we have to perform to get a payment. But it’s money we already spent. We know we shouldn’t get (state funding) if we don’t prove it.”