Electric-vehicle maker Canoo said Monday that its vehicles will be used in a pilot program in Saudi Arabia.
Canoo said its Lifestyle Delivery Vehicle 190 and its Bulldog pickup will be used to travel between Red Sea Global's international airport and its resorts, facilities and for excursions. The pilot program will help Canoo match its vehicles' capabilities with Red Sea Global's needs.
Real estate development and tourism company Red Sea Global is a closed joint-stock company owned by the Public Investment Fund of Saudi Arabia.
On April 1, Canoo reported a fourth-quarter loss of $29 million compared with a loss of $80.2 million a year ago. For the year, Canoo said it booked a loss of $302.6 million, or 53 cents per share, compared with $487.7 million, or $1.81 per share, for all of 2022. Total revenue for 2023 was $886,000.
Canoo made less than 20 cars during the quarter and has said it intends to scale up to an eventual run rate of 20,000 annually.