10:25 AM EDT, 09/19/2024 (MT Newswires) -- Canoo ( GOEV ) said Thursday that the US Customs and Border Protection approved the final activation of the company's manufacturing facility in Oklahoma City as a Foreign-Trade Zone.

The company said it now qualifies for Foreign-Trade Zone benefits, including a 5% reduction in bill of materials costs for imported parts, effective immediately.

Shares of Canoo ( GOEV ) were up 2% in recent trading.

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