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As part of the agreements, Canoo said it has already started hiring for its vehicle assembly facility in Oklahoma City and the battery manufacturing factory in Pryor.
The company said the agreement with the Department of Commerce will enable Canoo to receive performance-based payouts and make it eligible for some state tax credit and exemption programs.
Canoo, which will invest more than $320 million at both its facilities in the state, had entered into a long-term lease agreement for the vehicle manufacturing facility in Oklahoma City earlier this year.
Analysts expect the startup to report a loss of about $75 million when it reports second-quarter results after markets close on Monday, according to Refinitiv data.
