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EV Maker Canoo 'Goes Belly-Up After Moving to Texas'
2021: "Automotive Startup Canoo Debuts a Snub-Nosed Electric Pickup" 2025: Canoo "Goes Belly-Up After Moving to Texas" "Its production volumes paled in comparison to Canoo's rate of cash burn, which was substantial, with net losses in 2023 totaling just over $300 million..." reports AutoWeek. ...
In its four-year span as a public company, Canoo battled investor lawsuits, Securities and Exchange Commission charges, executive departures and a mixed reception of its cars. ""Canoo is the latest EV startup to go bankrupt after merging with a special purpose acquisition company (SPAC) as a shortcut to going public," notes TechCrunch. In the years since it went public, [Canoo] made a small number of its bubbly electric vans and handed them over to partners — some paying — willing to trial the vehicles.
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