Oklahoma
Canoo’s Oklahoma City Manufacturing Facility Achieves Final Activation as First Automotive Foreign-Trade Zone in the State of Oklahoma
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FTZ activation insulates Canoo from import tariffs and allows for deferments and exemptions as the company expands its global presence
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The approval of Canoo’s FTZ allows other vendors and partners to relocate into Canoo’s user-driven site thereby broadening the benefits to Canoo and its partners
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Effective immediately providing a 5% reduction in BOM costs for imported parts significantly improving margins
JUSTIN, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) — Canoo Inc. (NASDAQ: GOEV), a high-tech advanced mobility company, announced today that the U.S. Customs and Border Protection (CBP) has officially approved final activation of Canoo’s Oklahoma City operations as a Foreign-Trade Zone (FTZ), becoming one of the largest FTZs in the State of Oklahoma.
This activation status qualifies Canoo to take advantage of FTZ benefits, effective immediately. This final designation will allow Canoo to significantly streamline its operations, offering financial and logistical benefits as the company scales production of its modular electric commercial vehicles for customers in the U.S., the United Kingdom, Europe, and the Middle East.
Canoo has worked for approximately a year with the U.S. Customs and Border Protection for approval and activation of the FTZ. Initial approval was received in March 2024 and over the last several months Canoo completed this final activation milestone for this facility, which includes having the necessary infrastructure to activate the site.
“We thank Oklahoma City Customs Port Director Pequano and the Dallas U.S. Customs and Border Protection Area Port office for the work, support and direction for the activation approval. It’s great to get this milestone completed as it’s part of a larger strategy with more to come,” said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo.
This is a significant first step in harmonizing Canoo’s supply chain and insulating the company from the standard practices in other countries, providing stability against the ever-changing tariffs landscape.
For more information on Canoo please visit www.canoo.com.
About Canoo
Founded in 2017, Canoo Inc. (NASDAQ: GOEV) is an automotive tech company that manufactures electric cargo vehicles, built to deliver, for large commercial, government and fleet customers globally. The company has developed design-forward innovative electric vehicles with steer-by-wire technology on its common modular platform with end-to-end software plus power solutions. Canoo’s platform is purpose-built to maximize the vehicle interior space and is customizable to support a wide range of business and government applications. Headquartered in Justin, Texas, Canoo has teams located in California, Michigan and Oklahoma with world-class vehicle and battery facilities in Oklahoma City. For more information please visit www.canoo.com and investors.canoo.com.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward- looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements about our plans, expectations and objectives with respect to the results and timing of the reverse stock split and the effect the reverse stock split will have on the Company’s ability to regain compliance with the Nasdaq Listing standards. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Canoo’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Canoo. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; Canoo’s ability to access future capital, via debt or equity markets, or other sources; the rollout of Canoo’s business and the timing of expected business milestones and commercial launch; future market adoption of Canoo’s offerings; risks related to Canoo’s go-to-market strategy and manufacturing strategy; the effects of competition on Canoo’s future business, and those factors discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Canoo’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2024, as well as its past and future Quarterly Reports on Form 10-Q and other filings with the SEC, copies of which may be obtained by visiting Canoo’s Investors Relations website at investors.canoo.com or the SEC’s website at www.sec.gov. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Canoo does not presently know or that Canoo currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Canoo’s expectations, plans or forecasts of future events and views as of the date of this press release. Canoo anticipates that subsequent events and developments will cause Canoo’s assessments to change.
However, while Canoo may elect to update these forward-looking statements at some point in the future, Canoo specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Canoo’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Media Contact
press@canoo.com
Investor Relations Contact
IR@canoo.com
Oklahoma
RECAP: Democrat State Superintendent Candidates Address Oklahoma Education Issues in Primary Debate
In just two weeks, Oklahomans will take to the polls to place their vote for several races in the state’s primary elections.
Two Democratic candidates for Oklahoma state superintendent met Wednesday night to provide their vision for Oklahoma schools. News 9, News On 6, and NonDoc hosted “Education Equation” at the Embassy Suites in Norman, giving the candidates a chance to address key educational issues.
The debate participants were:
Wednesday night’s debate also helped kick off the annual conference for the Oklahoma Public School Resource Center, which is dedicated to driving transformation and increased academic achievement in state schools. OPSRC is the presenting sponsor of tonight’s debate, and we are grateful for their support.
Republican Debate Recap
News 9, News On 6, and NonDoc will hosted the Republican primary debate on Tuesday June 2nd.
Debate Recap and Highlights (Watch Full Debate Above)
Opening Statements
Craig McVay opened by readiing about a young boy who was able to translate for his family when they needed help from EMSA after a storm and said it showed the power of education for that young boy. He said he has visited all 77 Oklahoma counties and spoken with superintendents and school leaders in each one. McVay said what he continues to hear is that Oklahoma needs to change the conversation in order to change the direction of public education. He said the state needs an experienced leader who is qualified and certified.
Dr. Jennettie Marshall said she is the mother of three children, grandmother of 12 and great-grandmother of three. She said she has worked for both the Oklahoma Department of Corrections and the Oklahoma Department of Human Services, experiences she believes helped prepare her administratively for the role. Marshall is a graduate of Tulsa Community College, Langston University, Southern Nazarene University and Integrity Seminary. She described herself as a lifelong learner and noted that she has served on the Tulsa Public Schools Board of Education.
“What is the No. 1 Priority for Oklahoma’s next State Superintendent?”
Mr. McVay said his top priority is ensuring teachers have the resources they need and manageable class sizes to help them succeed.
Dr. Jennettie Marshall said the top priority is cleaning up the Oklahoma State Department of Education and ensuring it functions cohesively so it can properly support teachers and schools.
“What qualities make a good educator and what qualities make a good administrator? “
Mr. McVay pointed to teachers in attendance whom he has worked with over the years and credited them as models for others. As for administrators, he said the most important quality is presence, arguing they must be active and engaged in every aspect of their schools.
Dr. Marshall said a good educator must have a “heart to teach” and a genuine commitment to working with students. She said good administrators must understand teaching and be able to put systems in place that empower both students and educators.
“Do you support Senate Bill 1788’s reading reforms, which include the re-implementation of strict grade-level retention for those who are behind?”
McVay said he does not support the retention requirement because third grade is too late to identify and address reading deficiencies. He said schools need to identify struggling readers earlier and provide support as soon as possible.
Dr. Marshall said she opposes the retention provision for similar reasons. She said reading challenges must be addressed before third grade and that retention should not be punitive. Marshall also called for greater investment in early childhood education and daycare centers so they can serve as educational foundations rather than simply child care providers.
“We asked each candidate to bring a book with them that you would recommend for students’ summer reading lists.”
Craig McVay brought “The Cat in the Hat” by Dr. Seuss. He also recommended “The Cost of Politics in Public Education” by Leon Phillip for Oklahoma voters.
Dr. Jennettie Marshall brought “Oh, the Places You’ll Go!” by Dr. Seuss. She said the book sends a message to Oklahoma students that they have a bright future ahead of them.
Related Story:
Local Non Profit Works To Help Kids Overcome Summertime Reading Slump
“Yes or No, would you want to restore a public comment period at OSBE meetings? 6″
Both Participants answered yes.
“If you become state superintendent, would you support efforts to add more licensed mental health counselors in schools, and would you include School Counselor Corps funding in your first budget request to the Oklahoma Legislature? Why or why not?”
Mr. McVay said he would advocate for restoring School Counselor Corps funding. He said that on his first day in office, he would submit a budget request to increase counselor funding and argued that no counselor should be responsible for more than 200 students.
Dr. Marshall said she supports directing additional funding to schools for licensed counselors. She said she has seen firsthand the impact counselors can have by helping students process trauma and address mental health challenges before situations escalate. She also discussed creating Parenting Academies to help parents remain engaged in their children’s education.
What policies or strategies would you push for to combat absenteeism? And how do you measure success?
McVay said chronic absenteeism is a difficult issue to address, but expanding access to counselors and school resource officers could help. He said some students face complex challenges, including health issues and difficult home situations, while others may not be properly accounted for. He said all of those issues need attention.
Dr. Marshall said schools must address the needs of families. She pointed to parents working multiple jobs, mental health challenges and unemployment as factors that can affect student attendance.
“As state superintendent, where you draw the line between state oversight and local control?”
Craig McVay said balancing local control ultimately comes down to state law. He cited the debate over instructional hours versus school days as an example. He noted that severe weather events have historically disrupted school schedules, while the state Department of Education remained focused on testing requirements. He said lawmakers addressed that issue by requiring schools to complete 1,080 instructional hours, giving districts flexibility in determining how to meet that requirement.
Dr. Marshall said she approved curriculum during her time as a school board member and believes those decisions should remain with local school districts.
“Do you agree with the decision to have longer school calendars with more days? Why or why not?”
Related Story: New law will mean more classroom time for Oklahoma students
McVay said he supports students spending more time in school but believes teachers and support staff should be compensated for the additional work. He expressed concern about the financial burden additional school days could place on smaller districts with limited budgets.
Dr. Marshall said she opposes adding more days to the school calendar, calling it a temporary fix that could create additional challenges. She said schools already struggle to hire support staff such as bus drivers and custodians and questioned how districts would pay those employees for extra days. She added that she might support the change if additional funding is provided.
“Four years ago, Oklahoma voters elected Ryan Walters to be state superintendent. His tenure was tumultuous, to say the least, and he resigned early to take a think tank job trying to dismantle teachers’ unions.
What did Mr. Walters do well as state superintendent that you would emulate, and what did he do poorly that you would not?”
McVay responded, “hell no,” when asked whether he would emulate Ryan Walters. He said Walters did nothing positive and instead focused on promoting himself and securing another job.
Dr. Marshall said there is nothing Walters did that she would seek to emulate. She said he was effective at disrupting public education but argued that no future superintendent should follow that example.
Related Story: Supt. Ryan Walters announces resignation
“What was your reaction to Mr. Mazzei’s saying Oklahoma schools or school unions are led by “radical socialists,” and have you decided whom you are supporting for governor?”
Related Story: GOP gubernatorial candidates talk tribes, schools, health care and corruption in debate
McVay said his reaction was similar to that of many Oklahoma school superintendents, whom he described as generally conservative or center-right. He said educators want what is best for their students and districts and argued that Mazzei’s comments resemble rhetoric frequently directed at educators during Ryan Walters’ tenure. McVay said he supports Cyndi Munson for governor.
Dr. Marshall said she opposes labeling people and argued that Oklahoma’s school leaders are committed to improving student outcomes and caring for children. She said such comments distract from the work of helping educators and students. Marshall said she supports Sen. Connie Johnson for governor.
Closing Statement Watch Below
Oklahoma
What Oklahoma Does Better Than Texas and Why It Matters
During Oklahoma’s Lincoln Riley era, the Sooners dominated Texas. Riley went 6–1 against the Longhorns, including a victory in the Big 12 Championship Game on Dec. 1, 2018. However, things have been different over the last half-decade.
Brent Venables took over as the Sooners’ head coach in 2022, one year after Steve Sarkisian became the Longhorns’ lead man. Texas is 3–1 since Venables was appointed, with an average margin of victory over the Longhorns’ three wins of 32.3 points.
Texas is looking to extend its winning streak to three games for the first time since 1997–99. Oklahoma has one clear advantage, and while it has not mattered in previous matchups, it could define the 2026 edition.
Oklahoma’s Defense Could Cause Texas-Sized Problems
When Oklahoma’s defense lines up against the Texas offense, the two best units in the game will be on the field at the same time.
When it comes to the Red River Rivalry, it often feels as though preconceived notions about the team are irrelevant. The intensity and familiarity set both teams back to the basics. However, the matchup of the Longhorns’ offense and the Sooners’ defense will likely define this season’s rivalry game.
Last season, Oklahoma was carried by its defense to the College Football Playoff, with its offense doing just enough to get the job done. The Sooners were 79th in points per game (26.2) while allowing the seventh-fewest points per game (15.5).
There is optimism that Oklahoma’s offense will improve. Quarterback John Mateer could take the next step with Parker Livingstone and Trell Harris coming in to catch passes. However, the Sooners’ defense has been among the best in the country during Venables’ tenure and has come to characterize the program — a far cry from the Riley era.
Under Venables, Oklahoma has ranked inside the top 20 in each of the last three seasons in adjusted EPA per play allowed. Last season, it ranked second behind only Texas Tech, according to GameOnPaper. This includes top-three finishes in yards allowed per rush attempt (2.4, second) and sacks (45, third).
The Longhorns were productive on defense last season, ranking in the top 30 in points allowed per game. The defense was particularly impactful against the Sooners, dominating in all four quarters. In nearly every metric, though, Oklahoma outperformed its rival defensively last season.
|
Stat |
Texas Longhorns’ Defense (Rank) |
Oklahoma Sooners’ Defense (Rank) |
|---|---|---|
|
Rushing Yards Allowed per Attempt |
3.1 (12th) |
2.4 (2nd) |
|
EPA per Rush |
-0.05 (27th) |
-0.21 (2nd) |
|
Passing Yards Allowed per Attempt |
6.6 (38th) |
6.2 (22nd) |
|
EPA per Dropback |
-0.06 (33rd) |
-0.17 (9th) |
Over the last four matchups, however, this defensive production has been mostly meaningless. Texas is averaging 34 points per game and outpacing the Sooners’ season averages.
|
Season |
Oklahoma PPG Allowed |
Points Allowed vs. Texas |
Oklahoma YPG Allowed |
Yards Allowed vs. Texas |
|---|---|---|---|---|
|
2022 |
30.0 |
49 |
461.0 |
585 |
|
2023 |
23.5 |
30 |
389.4 |
527 |
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2024 |
21.5 |
34 |
318.2 |
406 |
|
2025 |
15.5 |
23 |
272.5 |
302 |
While this has been the case every season since Venables took over for OU, the Sooners have also steadily improved defensively. This has decreased the margin for error on the Longhorns’ side. Texas needs to take advantage of every opportunity it gets.
Last season, Texas missed multiple field goals. The Longhorns avoided disaster, though, by winning the turnover battle 3–0 and getting relentless pressure on Mateer. This season, they may not be as fortunate, as the Sooners will test the new-look Longhorns offense
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Oklahoma
Oklahoma data center boom sparks backlash as Yukon leaders, residents raise concerns
A contentious debate over water and growth is intensifying in Yukon as residents and city leaders grapple with the long-term costs of supplying major industrial projects, including a data center that uses up to 3 million gallons a day.
The discussion spilled into another packed Yukon City Council meeting, where residents learned how strained and expensive the city’s water outlook could be over the next 25 years.
Emotions ran high, with one resident comparing city leadership to a Nazi regime.
Yukon’s water supply plan examines eight options, including five aquifers, non-potable reuse water, direct potable reuse water, and purchasing 2 million gallons a day from Oklahoma City.
Projected costs exceed $200 million, with millions more expected over the next 25 years for operations and maintenance.
The data center was part of the conversation from the start of the water study, which began in late 2024.
The facility uses up to 3 million gallons a day to cool its servers. One option discussed for meeting that demand is a non-potable supply providing 3 million gallons a day, with $55.9 million in capital costs and a required 18-inch pipe stretching 3.5 miles.
The option is recommended to meet great industrial demands, including a data center.
Council member Rick Cacini said his focus is on residents’ needs rather than industrial users. Cacini said, “We had water problems 8 years ago when I started, and we have water problems today.”
Another council member raised the idea of taking cost out of the equation when considering whether to supply water to the data center.
Residents spoke out one after another against the data center after hearing details of the water plan and costs.
One resident referenced Piedmont, where two data center proposals were tabled on Monday. Another resident said, “It’s not a good deal for us, and the other cities know it already.”
Some residents escalated their criticism of city leadership. One resident said, “I voted for Pillmore, and I regret that vote more than anything probably I’ve ever done in my life because this feels like some nazi regime.”
Others called for city leaders to be recalled. “We will collect those signatures within 30 days, and we’re gonna remove you.”
Concerns also grew over the data center agreement, centered on the purchaser having an “out” while the seller does not.
The city manager was said to have gotten something wrong in August.
The meeting ended with Cacini threatening to sue Mayor Brian Pillmore over comments made in an early May meeting.
Pillmore was not at the meeting, saying he was on vacation with his family.
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