EV startup Canoo unveils quirky pickup coming in 2023

• EV startup Canoo on Wednesday unveiled an electric pickup truck with loads of unique features.
• It has fold out work surfaces, a hidden exterior drawer, and a built-in bed extender.
• Canoo says deliveries will start in 2023 and the truck will be available to preorder this year.

Yet another startup is entering the battery-powered pickup arena. And this latest entry may just have the quirky looks needed to take on the upcoming Tesla Cybertruck.

Electric-vehicle firm Canoo on Wednesday took the wraps off of a striking truck it says will hit streets come 2023. Preorders open later this year, but Canoo hasn't yet released all specs or pricing details.

The startup initially announced a pill-shaped EV it plans to sell under a subscription model, but has since pivoted to offer commercial vehicles people can actually own. In December it announced a lineup of delivery vans of various shapes and sizes, and now it's moving into pickup trucks, which it's targeting toward businesses and regular consumers.

Shares of Canoo rose more than 14% as of Thursday afternoon following the news.

Canoo decked out its pickup with a host of useful features for work and play, many of which are made possible by the flexibility an electric platform provides. There isn't an engine up front to work around or many of the other bulky mechanical components traditional pickups have.

Like in many EVs, there's a front storage compartment where the engine would normally be. But Canoo's frunk also has a fold out work table. There are also fold-down work surfaces built into the side of the bed.

Canoo's pickup comes with a built-in bed extender that lengthens it from six to eight feet, power outlets inside the bed and cargo compartments, and a hidden pull-out step that provides easier access to the bed. The interior comes with two seats up front and a rear area that customers can configure with additional seats or other customizations.

With its new pickup, Canoo also takes aim at the outdoorsy crowd that competing startup Rivian is targeting as well. The startup says there will be cargo racks available, along with a variety of camper shells. The pull-out step also doubles as a drawer where Canoo says owners can put their cooler.

The truck will be built on the same modular platform as Canoo's other vehicles. The company says the dual-motor version will deliver up to 600 horsepower and 550 lb-ft of torque. The truck will also have a payload capacity of 1,800 pounds and at least 200 miles of range, Canoo says.

Canoo's truck will compete with a slew of EV pickups slated to hit the market in the coming years, including the long-awaited Tesla Cybertruck, which caused a stir when it debuted in 2019 with similarly out-there styling. Tesla CEO Elon Musk said in January that deliveries of the pickup will start in 2022.

The Rivian R1T and Bollinger B2 are both set to start deliveries in 2021, and electric models from Ford and Chevrolet are also on the way.