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Canoo spent double its annual revenue on the CEO’s private jet in 2023
Tucked inside Canoo's 2023 earnings report is a nugget regarding the use of CEO Tony Aquila's private jet — just one of many expenses that illustrates the
Tucked inside Canoo’s 2023 earnings report is a nugget regarding the use of CEO Tony Aquila’s private jet — just one of many expenses that illustrates the gap between spending and revenue at the EV startup. Canoo posted Monday its fourth quarter and full-year earnings for 2023 in a that shows a company burning through cash as it tries scale up volume production of its commercial electric vehicles and avoid the same fate as other EV startups, like recently bankrupt Arrival. Under a deal reached in November 2020, Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft.
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