FTZ | Jotup

Canoo Enters a $30 Billion Market with Multiple Commercial Vehicle Sales in Saudi Arabia

Retrieved on:

Tuesday, April 2, 2024

EVS, Partnership, FTZ, Transport, Free-trade zone, KSA, Pleasure, Workflow, GCC, TAM, MENA, Crown, LDV, Gulf Cooperation Council, Renewable energy

Jazeera Paints will initially purchase 20 Canoo's electric vehicles (EVs) into its fleet in 2024, with the option to expand up to 180 additional vehicles.

Key Points:

Jazeera Paints will initially purchase 20 Canoo's electric vehicles (EVs) into its fleet in 2024, with the option to expand up to 180 additional vehicles.
This agreement taps into the Saudi Arabian EV market, which commands a total addressable market (TAM) of over $30 billion, and aligns with initiatives within the GCC region to enhance sustainable mobility solutions.
In addition, these electric commercial delivery vehicles provide Canoo with a first mover advantage in the Saudi market and a competitive position in the Gulf Cooperation Council (GCC) region.
Both companies anticipate this alliance will catalyze further innovation and collaboration, paving the way for a more sustainable and technologically advanced future in commercial transportation within the GCC and beyond.

Canoo Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results

Retrieved on:

Monday, April 1, 2024

Conference, Webcast, FTZ, Public expenditure, OKC, Net, GAAP, Cryptocurrency

JUSTIN, Texas, April 01, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced its financial results for the fourth quarter and fiscal year 2023.

Key Points:

JUSTIN, Texas, April 01, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced its financial results for the fourth quarter and fiscal year 2023.
“In Q4 2023, we started our first commercial fleet customer deliveries from our Oklahoma City manufacturing facility while we continue to prepare the site for our 20,000 unit run-rate production target.
Our strategy to purchase manufacturing assets at deep discounts creates immediate shareholder value.
A telephone replay will be available until April 15, 2024, at (877) 660-6853 (U.S.) and (201) 612-7415 (international callers/U.S.

Mullen Files for Foreign Trade Zone Status in Tunica, Mississippi

Retrieved on:

Monday, April 1, 2024

Mullen Technologies, EV, Commerce, Tax, Pressure, IBN, FTZ, Free-trade zone, Life insurance

BREA, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today the Company has filed for Foreign Trade Zone (“FTZ”) status with the U.S. Department of Commerce at its commercial vehicle manufacturing and assembly center located in Tunica, Mississippi. Mullen filed its application on March 25, 2024, and expects final determination within 30 to 90 days.

Key Points:

Mullen filed its application on March 25, 2024, and expects final determination within 30 to 90 days.
Upon approval as a designated FTZ site, Mullen would qualify for a variety of benefits including deferment of payments on duties owed related to import fees.
Upon approval, Mullen estimates that resulting deferred working capital on domestic sales could result in deferred capital outlays of $10 million for the remainder of FY 2024.
“Achieving FTZ approval status is an important strategic initiative to further strengthen Mullen’s supply chain management and deliver significant cash flow savings,” said David Michery, CEO and chairman of Mullen Automotive.

Canoo’s Oklahoma City Manufacturing Facility Approved as Foreign Trade Zone

Retrieved on:

Monday, March 18, 2024

FTZ, Free-trade zone, Commerce, I-40, Customs, Port

Justin, TX, March 18, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ: GOEV ), a leading high-tech advanced mobility company, announced that the U.S. Department of Commerce has approved its Oklahoma City facility as a Foreign Trade Zone (FTZ).

Key Points:

Justin, TX, March 18, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ: GOEV ), a leading high-tech advanced mobility company, announced that the U.S. Department of Commerce has approved its Oklahoma City facility as a Foreign Trade Zone (FTZ).
Canoo’s Oklahoma City facility currently employs more than 100 workers and will support as many as 1,100 good-paying manufacturing jobs at full capacity.
Canoo’s manufacturing footprint will create high-paying direct and indirect jobs and expand the advanced manufacturing sector in the heartland of America.
Canoo’s manufacturing strategy includes ownership of the supply chain where parts are purchased and delivered into Canoo’s manufacturing facilities unlike some other companies that outsource their supply chain, logistics, and manufacturing to third parties.

Brazil Data Center Market Investment Analysis Report 2023-2029: Growth Opportunities in IT, Electrical, Mechanical Infrastructure, General Construction, and Tier Standards - ResearchAndMarkets.com

Retrieved on:

Friday, March 1, 2024

The "Brazil Data Center Market - Investment Analysis & Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

Key Points:

The "Brazil Data Center Market - Investment Analysis & Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The Brazil data center market was valued at USD 3.11 Billion in 2023 and is expected to reach a value of $4.72 billion by 2029, growing at a CAGR of 7.16%
This report analyses Brazil's data center market share.
The Brazil data center market is also witnessing investment from new entrants in Brazil, such as CloudHQ, Surfix Data Center, and EVEO.
A detailed study of the existing Brazil data center market landscape, an in-depth industry analysis, and insightful predictions about market size during the forecast period.

Brazil Data Center Market Growth Opportunities Report 2023-2029: Coverage of 68 Existing Facilities, 21 Upcoming Facilities and 9 States - Sao Paulo is the Premier Hub for Investments

Retrieved on:

Thursday, February 29, 2024

DUBLIN, Feb. 28, 2024 /PRNewswire/ -- The "Brazil Data Center Market - Investment Analysis & Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

Key Points:

DUBLIN, Feb. 28, 2024 /PRNewswire/ -- The "Brazil Data Center Market - Investment Analysis & Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
In Brazil data center market, Sao Paulo is the premier hub for investments in the country, driven by substantial contributions from industry leaders such as Microsoft, Huawei, Cirion Technologies, Ascenty, Scala Data Centers, CloudHQ, and Elea Digital.
The Brazil data center market is also witnessing investment from new entrants in Brazil, such as CloudHQ, Surfix Data Center, and EVEO.
Snapshot of existing and upcoming third-party data center facilities in Brazil:
Data Center Colocation Market in Brazil:
The Brazil data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.

Shanghai FTZ to speed up data flow, cooperation

Retrieved on:

Tuesday, February 20, 2024

Bank of China, PBOC, Blockchain, FTZ, Central China, Bank, News, State Council, Pudong, Commerce, Classification, Certification, Drug

To better conduct the general plan, the Shanghai FTZ will set up a unified system for cross-border data exchange, featuring higher compatibility and interoperability.

Key Points:

To better conduct the general plan, the Shanghai FTZ will set up a unified system for cross-border data exchange, featuring higher compatibility and interoperability.
Yang Chao, deputy director of the administrative committee of the Shanghai FTZ, said major breakthroughs should be made at the Shanghai FTZ, with the introduction of catalogs for key data as one important mission.
Lin-gang Special Area, the part of the Shanghai FTZ included in 2019, is expected to roll out its first batch of general data lists and key data catalogs in March, said Zhao Yihuai, deputy director of Lin-gang's administration.
By giving full play to local data industrial parks, key industrial clusters of data outsourcing, international cloud services and data compliance should be part of Lin-gang.

Hangzhou's Binjiang District continues Asian Games glory with smart, charming style

Retrieved on:

Tuesday, January 2, 2024

This quadruped robot, which was put into use for the first time in the Asian Games' history, comes from Unitree Robotics, a Binjiang-based company.

Key Points:

This quadruped robot, which was put into use for the first time in the Asian Games' history, comes from Unitree Robotics, a Binjiang-based company.
The district is home to a large number of high-tech enterprises like Unitree Robotics, according to the Information Office of the People's Government of Hangzhou Binjiang District.
Along with the "Little White Bowl" Binjiang Gymnasium, they make up a new urban landmark of Hangzhou after the Asian Games, showcasing a fresh Jiangnan style.
With scenic sights, facilitating investment policies and considerate public services, Binjiang is continuing its Asian Games glory by playing a leading role in Hangzhou's endeavor to promote high-quality development.

Qemtex Powder Coatings to Build New Powder Coatings Plant in the UAE

Retrieved on:

Tuesday, November 21, 2023

Free-trade zone, UAQ, FTZ, Zawar Farid, MENA

Umm Al Quwain, United Arab Emirates--(Newsfile Corp. - November 21, 2023) - Qemtex Powder Coatings has commenced the construction of the inaugural powder coatings plant in Umm Al Quwain, UAE.

Key Points:

Umm Al Quwain, United Arab Emirates--(Newsfile Corp. - November 21, 2023) - Qemtex Powder Coatings has commenced the construction of the inaugural powder coatings plant in Umm Al Quwain, UAE.
All countries within the MENA and EU regions will be able to buy powder coatings from Qemtex, and there are plans for market entry into the US.
The project will draw upon European technologies and innovations by Kazakhstan-based AsiaColor Powder Coatings.
CEO and Co-founder of Qemtex Powder Coatings, Alexandr Glukhov
To view an enhanced version of this graphic, please visit:
Key participants in the groundbreaking ceremony included Alexandr Glukhov (CEO and Co-founder of Qemtex Powder Coatings) and Johnson M. George (General Manager of UAQ FTZ), along with partners of Qemtex.

DigiKey Receives Governor's International Trade Award

Retrieved on:

Tuesday, December 12, 2023

Marketing, Investment, FTZ, Digi-Key, Free-trade zone, CBP, Partnership, Film industry

THIEF RIVER FALLS, Minn., Dec. 12, 2023 /PRNewswire/ -- DigiKey , a leading global commerce distributor offering the largest selection of technical components and automation products in stock for immediate shipment, announced today it has received the 2023 Governor's International Trade Award for Large Companies from Minnesota Governor Tim Walz and the Minnesota Trade Office.

Key Points:

THIEF RIVER FALLS, Minn., Dec. 12, 2023 /PRNewswire/ -- DigiKey , a leading global commerce distributor offering the largest selection of technical components and automation products in stock for immediate shipment, announced today it has received the 2023 Governor's International Trade Award for Large Companies from Minnesota Governor Tim Walz and the Minnesota Trade Office.
DigiKey received the 2023 Governor's International Trade Award for Large Companies from Governor Tim Walz.
The Governor's International Trade Award recognizes Minnesota companies that have shown exceptional progress and success in exports to foreign markets, as well as foreign-owned companies that have made significant economic contributions through their investments in the state.
Since DigiKey received its first Governor's International Trade Award in 2012, international sales have expanded by more than five times with 46% of sales taking place in the international market.