d0llars: Panasonic to provide batteries for Canoo’s upcoming Lifestyle Vehicle

American EV startup Canoo announced that it has reached an agreement with Panasonic to supply the batteries for its upcoming Lifestyle Vehicle. This currently in development EV sits upon Canoo’s multipurpose platform which includes a structurally integrated battery module and proprietary battery system technologies.

Canoo ($GOEV) is an LA-based EV startup founded in 2017 by two former employees of Faraday Future. The automaker has several flagship EVs in the works including the MPDV – an all-purpose, modular delivery van, and the Canoo Pickup Truck.

First, however, Canoo is working to launch its Lifestyle Vehicle, the initial EV that caught the public’s attention when the company debuted. It sits upon Canoo’s proprietary modular platform, allowing for various “top hats” to sit upon it to offer different vehicles and uses.

Canoo’s Lifestyle Vehicle utilizes maximum cabin space, sitting in the footprint of a compact electric vehicle, with the interior of an SUV. The exterior features 22 windows, offering enhanced light and visibility for passengers and drivers.

As Canoo approaches a start of production on the Lifestyle Vehicle late next year, it has now found a provider for its batteries.

The Canoo Lifestyle Vehicle interior from the back

Canoo teams with Panasonic for EV batteries

In a press release, Canoo shared the news that it has officially signed an agreement with Panasonic to supply the battery cells for its upcoming Lifestyle vehicle.

The Panasonic battery cells will be present in a unique battery module approach in the Lifestyle Vehicle as a component in Canoo’s modular platform.

Rather than placing its battery modules into an enclosure that is sealed and bolted into the chassis, Canoo integrates the battery modules directly into the platform structure. This makes it easier to perform service repairs and upgrades to the battery at the module level.

Canoo investor, Chairman, and CEO Tony Aquila spoke about the agreement with Panasonic:

Our team is very focused on continuous optimization and creating IP in the areas of battery module technology, higher energy density and on a flexible thermal management platform that contributes to enhanced safety and lower cost of ownership. We designed our battery systems to account for future advancements in cell technology and today we are excited to announce the selection of Panasonic, a global technology company and a leader in the cylindrical lithium-ion battery industry, as our partner. This decision is based on extensive testing as well as our outlook of Panasonic’s innovation that aggressively focuses on the factors mentioned above and its leadership team. With billions of cells on the road, they are a proven pioneer and world-class manufacturer of what we believe are one of the most durable electric vehicle batteries.

As previously mentioned, Canoo’s Lifestyle Vehicle is scheduled for production in Q4 of 2022. So far, the agreement with Panasonic appears to only apply to this EV, and not other upcoming Canoo vehicles like the MPDV or Pickup Truck slotted for 2023 and beyond.

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