Beginning the electrical car Canoo Inc. (NASDAQ: GOEV) on Wednesday unveiled its all-electric pickup truck.

What occurred: The California-based firm will start taking pre-orders for the manufacturing model of the pickup within the second quarter of 2021, with deliveries scheduled to start in 2023.

The pickup truck is the third car to be based mostly on Canoo’s versatile platform structure, dubbed “skateboard”, and is geared toward each enterprise and shopper prospects.

The car, geared up with steer-by-wire and brake-by-wire expertise, could have an output of as much as 600 horsepower and a spread of over 200 miles.

The compact truck has a number of distinctive options, together with a six-foot-long truck mattress that may lengthen as much as eight ft absolutely enclosed, a multi-accessory load port, and non-compulsory roof racks. It additionally has a entrance storage space that may maintain instruments or gear, a folding worktable with electrical shops and a hidden aspect step with a storage space and quick access to the truck mattress.

See Additionally: Apple Maintain Talks With Canoo On Electrical Car Foray: The Verge

Why is that this vital: Pickup vehicles are the best-selling autos within the U.S. market and gross sales have lengthy been dominated by automakers like Ford Motor Co. (NYSE: F), Common Motors Co. (NYSE: GM) and Stellantis NV (NYSE: STLA).

Nonetheless, electrical pickup vehicles are a brand new a part of the phase and US automakers are more and more specializing in this rising phase. Tesla Inc. (NASDAQ: TSLA), Lordstown Motor Corp. (NASDAQ: RIDE) and Amazon.com Inc. (NASDAQ: AMZN) Startup Rivian all plans to introduce electrical pickup vehicles later this yr.

Value motion: Canoo shares closed almost 5.5% increased on Wednesday at $ 12.89 and moreover added almost 4% within the after-hours session.

Learn extra: Electrical Truck Maker Xos Goes Public Through SPAC: What Traders Must Know

Picture: Courtesy of Canoo