May 16, 2020

February was a slow month for UK manufacturing sector, but rise in oversea activity

PMI
UK
Output
UK
Sophie Chapman
2 min
PMI indicates expansion and positive output forecasts
The Purchasing Mangers’ Index (PMI) for the UK’s manufacturing industry indicated that February was a slow month, with production growing at its slo...

The Purchasing Mangers’ Index (PMI) for the UK’s manufacturing industry indicated that February was a slow month, with production growing at its slowest pace for 11 months.

The consumer, intermediate, and investment goods sectors all saw decelerations, the PMI data shows.

However, new orders accelerated at a faster pace then recorded in the first month of 2018.

Domestic demand rates strengthened whilst new export business rose at a slower, but still stable, rate, making February the 22nd consecutive month for growth in the business.

The growth is anticipated to be linked to client sales in the US, China, Europe, Brazil, and East Asia.

Expansion rates in the industry dropped to a four-month low, but outlook and confidence remained high – 56% of firms predict output will improve this time next year.

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The PMI suggested employment also increased for the 19th consecutive month, following expansion and output forecasts.

“Production in the sector may be lagging compared to the closing months of last year, but UK manufacturing output remains in positive territory with demand still strong,” The Manufacturer reported Head of Manufacturing at Barclays, Mike Riby, stating.

“That said, although the sector remains positive, the continuing uncertainty over Brexit negotiations can’t be helping the investment intentions of manufacturers who are looking for some degree of clarity over the future relationship with the EU sooner rather than later.”

“Manufacturers will also need to remain flexible in their planning as they negotiate the uncertain market conditions in 2018.”

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Jun 17, 2021

Canoo Awards Manufacturing Contract to VDL Nedcar

Canoo
VDLNedcar
EVs
Manufacturing
2 min
Canoo, a trailblazing company in the electric vehicle (EVs) manufacturing industry, has officially announced owned and contract manufacturing plans

Canoo, a trailblazing company in the electric vehicle (EVs) manufacturing industry, has officially announced owned and contract manufacturing plans that will ensure the company manages to deliver on its promise to consumers of production and delivery of vehicles in Q4, 2022. 

 

During the company’s first Investor Relations Day, Chairman & CEO of Canoo, Tony Aquila, named VDL Nedcar as its contract manufacturing partner. VDL Nedcar, which I’m sure many of you will already have heard of, is the only independent Vehicle Contract Manufacturer in the Netherlands and has enjoyed fifty years of growth under owners, including Mitsubishi Motors and Volvo cars. According to the report, Nedcar will manufacture the Lifestyle Vehicle for the United States and European Union markets, while Canoo builds a US-based mega micro-factory. 

 

 

"We conducted an exhaustive search, invested significant amounts of time and resources that span the globe, in our search for our Phase 1 contract manufacturer. VDL Nedcar is the right partner," said Tony Aquila, Investor, Chairman and CEO of Canoo, Inc. "They are the top trusted European manufacturer building high-quality products for leading OEMs, and they significantly outcompeted the other contenders. VDL is also independently owned by the van der Leegte family of entrepreneurs - which aligns with our commitment to support businesses that form the backbone of communities. This strategic partnership will enable us to deliver vehicles to market while we build our Phase 2 factory in Oklahoma. It also strongly positions us for geographic expansion in Europe and builds a lasting relationship with VDL Groep of companies. Our investment will help us scale quickly and fulfil our mission to bring affordable, purpose-built EVs to Everyone."

 

Canoo and VDL have already gotten to work on vehicle manufacturability and production planning so that Canoo can successfully lay the groundwork for its upcoming US manufacturing operations expansion, which will be completed in Oklahoma in 2022. The Nedcar facility currently expected to produce around 1000 units for both the US and European markets in 2022, with an additional 15000 targeted for the following year. 

 

"Canoo's bold approach to designing and building electric vehicles makes them an ideal partner as we work together to shape the future of mobility," said John van Soerland, CEO of VDL Nedcar. "This partnership advances our strategic vision to provide a contract manufacturing solution and expand our expertise in the EV arena."


Currently, Canoo is entering its GAMMA phase of development and is on track to start production soon. The company intends and expects to launch its Lifestyle Vehicle in Q4 2022, closely followed by the Multi-Purpose Delivery Vehicle and Pickup Truck.

Watch this space.

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