Canoo jumped nearly 20% in premarket trading as it advanced manufacturing dates for electric vehicles

Canoo jumped nearly 20% in premarket trading as itadvanced manufacturing dates for electric vehiclesThe company has advanced its U.S. manufacturing timeline to begin production before the fourth quarter next year, and would expand to more locations apart from its Oklahoma facility, it said on Monday.

In June, Canoo said it would set up a plant in Pryor, Oklahoma, to assemble the pod-shaped vans it calls "lifestyle vehicles", beginning in 2023.

The company now plans to expand to include Arkansas and other locations in Oklahoma, for research and development, software development, customer support and finance centers.

"We are targeting approximately $100 million in vehicle orders ... where we are locating these facilities," Chief Executive Officer Tony Aquila said in a statement.

Canoo also forecast capital expenditures between $60 million and $80 million for the current quarter, and operating costs between $95 million to $115 million.