Wednesday, May 11, 2022

Report: Canoo May Not Have Enough Money To Stay In Business

Canoo, the pie-in-the-sky electric vehicle startup which fled Los Angeles for Arkansas in June of 2021, apparently "may not have enough money to stay in business", according to a report. The report, from TechCrunch, says Canoo has been burning through cash and has no near-term revenue, and is currently grappling with the exit of its co-founders, legal issues, an SEC investigation and production delays.