Canoo revs up U.S. electric vehicle production plan as drops overseas deal

By Ben Klayman

A Canoo Lifestyle Vehicle is displayed during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. REUTERS/Mike Blake/file photo

DETROIT (Reuters) -Electric vehicle startup Canoo Inc on Wednesday said it was accelerating its production plans in the United States while ending its deal for VDL Nedcar in Netherlands to serve as its contract manufacturer in Europe.

Canoo shares were up 3% in after hours trading.

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