Photo Credit:Canoo Automotive

Canoo's Oklahoma Plant Becomes First Automotive Foreign-Trade Zone In The State, Cutting Red Tape And Reducing Fees

30 Sep 2024 | Abstracted from Benzinga

"Foreign-Trade Zones (FTZs) are specially designated sites close to U.S. ports that importers and exporters use to move goods in and out of the country. Companies operating in FTZs pay reduced or zero duties, taxes or fees...Canoo's Oklahoma plant, which the company opened last April, occupies close to 500,000 square feet

"Canoo's delivery vehicles are designed to be modular, built for global roads and a variety of commercial uses."

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