The most likely Electric Car company to go bankrupt this year...

The most likely Electric Car company to go bankrupt this year...
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#canoo #evs #evnews
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[@debeeriz]

before investing in these companies, check out the ceo's house to see if the money is going into the company or supporting their lavish lifestyle

[@mikafiltenborg7572]

Nikola Motors founder Trevor Milton have a BIG house + private jet...... Payd by stupid NKLA investors ‼️🤣🤣🤣🤣

[@Lifecoach7Ra]

The typical SCAM SCHEME of such companies unlike with Tesla and especially Elon INVESTING HIS OWN money earned with PayPal and earlier but this guy WORKED for money and was not sponsored to buy a bigger house first… We always said it’s easy to build a prototype as we did ourselves but then the problems just start even before production hell as Elon named it and just made the very best out of the situation. Look what other CEO do with your money? They engage some consultants to blame later the company fails and open golden parachutes like Hendrick Fisker probably now leaving customers in the 💩

[@KnowNotNo_I]

Canoo CEO has invested heavily in stock, so the conversations of his own private jet use expense from company should be balanced with that news. I still have confidence they somehow get into a production phase. I think the commitment & interest on orders is high but none of that matters if they don’t ramp up a production line. I bought a small amount of stock at $3.50 & placed a $100 deposit on one just to put some skin in the game. I’d love to have a work truck and a work transport van and maybe personal awd van if they could step it up. All the tech and modular options are there for commercial & consumer market. The lag in prod line improvements is very frustrating.

[@joewilder]

They probably don't have a clue how to make it in an affordable way. It's like Elon said, an innovative product is worth nothing if you don't have an efficient machine to build the machine.

[@briansture4353]

This is a case of bad management looking for the good times before they have made the product. I feel sorry for all the engineers who have worked so hard on this project. I bet the management had much less input.

[@stigbengtsson7026]

Exactly what Elon said, no problem making some cars, but make the whole machine that makes the cars, for a resonable cost It is going into " the production Hell " Best whishes from Sweden I agree 100% what you said.

[@richardweyland116]

The Electric Jesus is full of crap. The only way Tesla makes a profit is from selling scam carbon credits to other auto makers. This ultimately cost consumers billions of dollars. I'm looking forward to when the carbon credit scam is over and hope Tesla has to pay back all the money they scammed from auto makers. Then it will go bankrupt. Tens of thousands of Teslas are sitting unsold on dealer lots.

[@pritambissonauth2181]

The devil knows how to do it . . .

[@brettbrewer6091]

I live in OKC and their factory is on the drive to work, so I drive by them frequently. I didn't even see any of their vehicles in their factory parking lot. I've never seen them driving around anywhere even though I'm only a few miles from their factory.

[@earth2006]

Do the words "Golden Parachutes" for all the upper echelon management. Mean anything to anyone.

[@robertmendlein1090]

Assuming that wasn’t a rhetorical question, YES, a massive transfer of wealth to the most needy wealthy!

[@richardcalon3724]

1.7 million doesn't buy much of a jet.

[@foxtrotwolf6081]

It was the fuel and maintenance for his personal jet.

[@aesma2522]

​@@foxtrotwolf6081That makes more sense.

[@roysimpson9711]

That's just a one year lease

[@UsserError]

Elon Musk sleeps on a couch in his factory..... Canoes CEO buys a luxury jet.....

[@lesliecarter4295]

Being renamed ‘Nocando’

[@Woburn-RoxburyMedia]

I've passed the Canoo factory in Oklahoma City several times, Yes, it is on my way to New Mexico. It is tragic that this company was such a promising product, amount to nothing more than an Obvious grift by this egregiously immoral CEO. He should be held accountable for essentially stealing the money, and robbing us of a promising EV for the future.

[@larryc1616]

Fisker did it twice! 2x the same scam and investor fraud. People are dumb

[@ericyuan9718]

Indeed sad news, I was looking forward to VanLife in their MPDV cargo van.

[@aielvis]

4:32 It makes a lot of sense for Canoo to target fleets and commercial customers. You need lots more infrastructure to target consumer customers.

[@melvinnoble8552]

Where is all the money? Even a company jet doesn't account for the MILLIONS that has been pissed through!! I smell embezzlement and misappropriation!

[@kabysummit5801]

US EV industry has been a target of the big oil, union, and political groups. Tesla and a couple more have escaped from being crushed. The others have a huge uphill battle. Clearly US ingenuity is alive, but not well!

[@user-hw5ph8jy5s]

Is trump running it ?

[@ryancragg2907]

Aquila also got canned from Solera back in 2019 because he had misappropriated Solera’s resources and money by fraudulently claiming that certain flight and hotel expenses were for Solera business. Solera had paid $700,000 towards Aquila's private jet.

[@joezolo9986]

@@user-hw5ph8jy5s If Biden was running it, they would have been out of business three years ago.

[@alanakafang6143]

in 2023 they paid the CEO's family business 1.7 million for his travel in the family jet, double the revenue they made from sales that year.

[@dlee9547]

OMG at one stage the stock in this so called company was worth $466 USD... today its worth $2 glad it wasn't my money 😂

[@andreasl4507]

Crazy 😂

[@frescoo4824]

O9​@@jameschalkwig787

[@larryc1616]

Short all US ev makers except tesla = 💰💰💰

[@user-hw5ph8jy5s]

It's the ev stock equivalent of dwac 😂😂😂...

[@CMDR_Hal_Melamby]

​@@larryc1616why not Tesla without SDV it's way way overvalued.

[@archiefleming652]

I think Canoo had never intended to sell cars but the aim was to make a few at the top very rich at the expense of the shareholders. In the old days, before we had coroprate lawyers, it was called Fraud.

[@douginorlando6260]

They probably incorporated in Delaware or Cayman Islands … better check before investing

[@davidbrayshaw3529]

There are a lot more suckers, these days, and protection laws just don't seem to come into play, anymore. As the old saying goes, "a fool and their money are soon parted".

[@michigandon]

Gary Davis went to prison for it!

[@billhill4479]

l don't see a problem with Canoo addressing the commercial market first. After all, the design is really suited to the cargo van/work truck market. lt makes sense that if they can scale quickly with large customers such as delivery companies then that could really underpin the business going forward. Once established they could then move to the domestic market which no doubt is way more fickle.

[@mitchbarber4748]

And there’s no need for NACS support if you’re selling commercial vehicles for fleet local delivery usage (think USPS, FedEx or Amazon delivery vans) that spend the night in a private lot where they can be charged for use the next day. It also means they can produce a simpler vehicle without all the bells and whistles. That strategy could give the company more runway to refine a consumer vehicle as a follow-on product. Doesn’t excuse the private jet, though. Or the consumer focused marketing. Seems like the company has a leadership problem.

[@mk1st]

Yes that makes sense but why tease the world with all those videos showing consumer models? Seems like they have an identity (as well as a money management) crisis.

[@invertedcnc705]

The problem is they started as a consumer vehicle company and took thousands of deposits and don’t have the balls to tell those holders directly they don’t plan on making good on those reservations

[@ambroulard]

I love the fact that the nastiest thing Sam ever says about anyone is to call them a Muppet!! It shows ReaL class and becomes more effective than if he was swearing all the time.

[@derphyn]

Hmm...I like Muppets. Perhaps "Sauronian" would be a better term - I imagine Mr. Tolkien would approve.

[@GreenLine4444]

Exactly, no need for people to be cursing at all. A person can make their point without cursing, even more effectively without cursing.

[@kamingcloud2880]

This is very sad news. Another great electric car company going bankruptcy . Canoo's has AWESOME designs !!! I would love to have Canoo's Large Cargo Van and pick-up trucks. Canoo definitely need new management team, as fast as possible in order to save the company. 😯💔🙏💯🔋🌞🌏✌️

[@davidbrayshaw3529]

No, it's not "another great electric car company". It's a corporate scam, in my opinion. Take the investor's money, pay yourself, your friends and relatives directors fees, throw the investors a bit of hope, and job done!

[@kamingcloud2880]

​@davidbrayshaw3529 Agreed with you 💯 percent David. Sorry for all the investors who had hopes and dreams for this Canoo Company . Let hope another Company will take over the greedy management team and start building electric vehicles to the consumers and make a profit. Canoo has a great innovative engineering team that can build Awesome Electric Vehicles ! Hope Canoo will become a successful company !!! 😉💖🔋🌞🌏✌️

[@davidbrayshaw3529]

@@kamingcloud2880 Hopefully for investors, there is something to salvage. Unfortunately, "great, innovative engineering" is a euphemism for successful marketing, in this day and age. Proof of that abounds us, particularly from a certain manufacturer that shall go unnamed. Eggs and baskets. There is a lesson for everyone, in the fall out from this.

[@rRobertSmith]

I think Amazon should buy them out and fire the CEO.

[@larryc1616]

Apple

[@johnnyb8629]

I really wanted this vehicle to make it, I threw some money at it but fully knowing it was complete gamble. it's such a good product, and all we have for a good pickup truck is cyber truck that only rich people can have, damn it!

[@khalifahmuhammad1574]

This would truly be sad. I like them, too. I like Fisker too, but I would much rather see Fisker go belly up than Canoo if one had to go bankrupt.

[@crosslink1493]

That pick-up version might sell in the consumer market, but it wouldn't work as a 'commercial' vehicle here in the USA as it would need a longer bed to meet the 'unofficial standard' of holding a full-sized sheet of plywood or 8 ft long framing lumber (does the back of the cab open up to hold longer wood products?). Minimum 6-foot long bed. The van looks really nice. It would work for plumbers or electricians, and I'd go for a consumer model if they produced them. I'm in the USA and would even consider a right-side drive model as its nice to get out on the curb/sidewalk/street shoulder side of a vehicle rather than onto the street when you park at a curb.

[@Nerdmom1701]

That would make me sad as well. Their van and pick-up truck looked really interesting, and I was enthusiastic about seeing it progress!😊😢☹️

[@cptr]

Very informative channel. Subscribed!

[@cyrilvankeirsbelk7299]

This is an incredible opportunity for any legacy automaker. Buy the intellectual property after it goes bust for cheap. Redesign the skateboard and cab for manufacture with a giga-press and pump out identical pickup trucks that can be customized with plug and play modules at their dealerships. When a customer gets tired of their configuration or wants a newer battery they can go to a dealership and for much less than the cost of a new car reconfigure their existing vehicle. The legacy automaker even gets to look like a hero for saving a popular design.

[@N8844H]

$1.7 million doesn't buy much in the way of a private jet.

[@GreenLine4444]

That's actually a lot for a private jet.

[@Avionics_test_pilot]

I agree that this was a bad PR move at the least. I work for a company that maintains jets and it can cost over 1 million USD a year to maintain and that is what the CEO billed to the company. Still not a good idea when you’re not making money.

[@trevorsoh2130]

The canoo cabin is really nice - I really like it.

[@ericr385]

You can pre-order the Canoo pick up off their website for $100 right now. Submitting your company name on the form is optional. No compute.

[@douginorlando6260]

How much of their advertising budget is spent boosting preorder numbers? Especially since the money comes right back

[@ivantuma7969]

Aquila seems really excited about the LHD markets (UK, Asia and India) and I think he mentioned he would shortly be flying to some of these places to negotiate some deals. Since Canoo is all drive-by-wire, developing LHD versions is already done thanks to the USPS demo vehicles. The vehicles are supposedly designed with ease of manufacturing, maintenance and upgradeability in mind and yet only 22 exist. It's like they're putting in all the infrastructure for a turn-key company in order to sell it to another entity (otherwise, why not just build a thousand units - even if it's at a loss - instead of filling the manufacturing floor with idle robots). They had deals with Hyundai and Apple that never bore any fruit. I'm invested in them (less than 1% of my portfolio) and have a Canoo Truck pre-order but after the quarterly report, IF I ever get their truck - it wont be until 2027. By then other companies will already be producing competing products. The thing is, they picked a very good niche market that no other EV manufacturer has tapped yet (except those with ICE-to-EV conversions). The government and commercial sector focus doesn't bother me at all - but I don't think those sectors will trust them until they start rolling out vehicles. Since this was a gamble, I'm just going to keep watching what the company does.

[@rais1953]

That's RHD. US is LHD. Factories in Melbourne and Sydney convert US made pickups to RHD but drive by wire could be done in the US.

[@dietmarwolf79]

In my opinion, a reasonably well designed commercial vehicle is spoiled by a grotesque windscreen, which doesn't do anything for a harmonious proportion. Look at the front of a VW Buzz and you see my point.😢😢

[@rodmitchell831]

Thanks so much Sam

[@electricviking]

You are so welcome!

[@wookieecantina]

After they completed the 23-1 reverse split, it took approx. 6000 shares to 260! I was really pissed off and sold my Canoo stock immediately before I lost more money. Sadly, I loved their design concept and the vehicles looked terrific. So sad. Needless to say, I'm done with them!

[@Wemdiculous]

It did that for everyone tho, you still owned the same % of the company. It changed literally nothing, but stock exchanges don’t like doing the paperwork for an exchange of stock when it’s worth $0.25. It isn’t worth their time. That’s the only people that it actually affects.

[@davidbrayshaw3529]

Investing in "what you like" is often a one way ticket to losses. For some strange reason, it doesn't matter how good the product is or how much it serves a purpose or potential purpose to you, it always ends in tears.

[@wookieecantina]

@@Wemdiculous Buying the dip, for a long term investment, based upon reasonable volume was my goal. While price was not the short term goal, volume based upon longevity was the reasoning. Sadly, I’ve lost faith in the company and will be focusing more on Tesla.

[@wookieecantina]

@@davidbrayshaw3529 Very true but the product absolutely looked fantastic and with so many commercial contracts in the works, a cautious, moderately bullish approach was not out of the question. Thankfully I sold without losing much, and now the stock is slowly sinking back down. I want Canoo to succeed but no longer feels a viable investment opportunity.

[@DAVIDTATLITUG]

I'm with you. I owned thousands of shares and got screwed also.

[@DAVIDTATLITUG]

Canoo is truly innovative. They had drive by wire years ago. They have orders and are delivering vans albeit slowly. Someone should pick them up. Oh well, there goes my gamble.

[@ttkddry]

ElectricBrands in Germany (Xbus) is also bankrupt, 17k preorders

[@chillfluencer]

Fisker, Canoo, Nikola, Faraday Future...so the US not only has a legacy auto but also a scammer problem.

[@hs5312]

I think Nikola could go broke, but out of the company you listed it will take the longest to go broke

[@tedg1609]

A fossil car company should buy Canoo and build it - design is better than old car company designs.

[@josephbradford5930]

That is EXACTLY right.

[@oldbloke204]

And yet in spite of comments like this EV companies seem to keep going belly up.

[@christophers707]

wait till it goes bankrupt and buy what you want pennies on the dollar

[@davidbrayshaw3529]

The market is flooded with EV companies. Legacy auto have already dug a hole for themselves by trying to compete. Why in the world would anyone want to invest in them? It's lunacy. Just take a look at pre war car manufacturers and you'll know what's going to happen next. Now is not the time to invest.

[@larryc1616]

Legacy auto can't make profitable EV's. Just more debt to eventual bankruptcy for Legacy auto

[@richh650]

I agree and really hope Canoo can get some additional funds to put some real tires on the road asap. I know it is tough for startups, but too many newcomers are taking much too long to get their vehicles into at least into small scale production. Aptera also falls into that same category...

[@ArizonaPoet]

5 to 7 years for an established manufacturer to gain production on a new model. To expect a startup to do that in 2 years is a stretch. From inexperience to need to sound promising to investors results in Elon time forecasts.

[@invertedcnc705]

Original day one reservation holder and stock holder from spac . I cancelled my reservation couple weeks ago and was quite surprised they refunded the deposit within 24hrs half expected that money was long gone

[@MrRossi1805]

Hello Sam, as well Electric Brands with the X-Bus is bankrupt…. Looked similar to the Canoo Bus

[@teslabulls1238]

Maybe Canoo should make canoes.

[@tedecker3792]

Electric canoes

[@teslabulls1238]

@@tedecker3792 i would buy one.

[@neilfromclearwaterfl81]

Perhaps they are eyeing competition from Telo and decided that they won't be able to compete very well with them if they bring it to market. Then there is the possibility that they want to focus on meeting a potential contract for supplying the US Post Office with its fleet of electric delivery vehicles and step back from the consumer models. Of course using company funds to purchase status symbols is the first sign of a con game going on or at least trying to look like a bigger fish in a pool of sharks. Best!

[@satay8167]

If rivian is having financial problem then canoo has no hope

[@EV-FUN]

Such a pity, because there aren't useful vans available. Mist with less than 350km of autonomy and if more very expensive.

[@jdreynolds29]

Man that sucks cuz I really wanted one of those

[@billhill4479]

Absolutely Spewin'. The Canoo design was by far the most practical ev layout for me. Forget about all the other electric SUVs. l want an all wheel drive ev on a very flexible platform. The Canoo was the closest anyone had come to the style of ev that l would buy. The Rivian has some clever features but it is still limited by it's 4 door pickup platform. The Canoo with it's much bigger utility bed is the one for me. Work truck, camper style bed big enough for dirt bikes etc with a frunk is what l want. Hopefully someone else will scoop up this company and bring this new style of ute to the market.

[@BerriBerriJam]

I'm really torn on this one. On one hand Canoo valuation and stock price is down 99% to 10 cents pre split or about 120M valuation. Love the design and core technology: Flat bed chassis with horizontal suspension (transverse leaf springs), Steer by wire, which opens up top hat. Tony CEO takes over in 2021, who seems to be competent having built Solera an automobile related business into a 6 billion dollar enterprise. On the other hand: serious conflict of interest, is Tony Aquila exploiting Canoo out to dry? It's not just the private jet expenses, which I find not a big deal (only $1.5M/year) when it was the same situation with Tesla's Elon Musk back in 2010. But instead of Canoo buying the Oklahoma City plant and reaping subsidies from Oklahoma, Tony's AFV buys it for $34.27M and leases to Canoo for 10 years with yearly lease payments of about $3M. His AFV gets a Cap yield of 10% return every year for the next 10 years. Serious conflict of interest here, more so than the jet chartering. Also for the past 3 years, he's opened up facilities and office in Pryor city ( MidAmerica Industrial Park 400 acre), Bentonville Arkansas, Justin Texas, Auburn Hills Michigan, Oklahoma City (ex Terex on I-40). And now to top it off something about a Cherokee Nation! And they still have all their facility and staff in Torrance CA. No wonder their burn rate is still well above 30M every quarter and have burned over $1.5 Billion since the beginning. All can be forgiven only if Tony Aquila actually hunkers down in one main facility (I-40) and gets through "production hell" to start producing. The more I see him flying around to Saudi Arabia and where else, the less confident he can actually produce even 100 units under actual production run.

[@deisen123]

What about Fisker? Seems like they’re already cooked.

[@unclegeorge7845]

Hi Sam, I liked the pickup so much I ordered one. The airplane thing stinks. I think it's lease fees from another of his properties. No NACS? Just stupid.

[@richardmiller4388]

Analysis is spot on as usual, Viking. I don't know what happens to CEO's after they create a truly worthwhile creation and then loose the compass - and the drive to succeed. Buy a jet . . .

[@mrmawson2438]

Cheers mate

[@tariqs2072]

Love Canoo, i think its a phenomenal design. I really hope this vehicle makes it. The delivery van, lifestyle van & pickup all such great looking spacious car designs. ❤

[@HullioGQ]

Looking at their consumer pickup truck and van, I am sure they may have faced some regulatory hurdles considering the glass front. I still wonder how it faired in the frontend crash test. But if they were to choose to start out in the commercial fleet with a good strategy to vamp production to over 200,000 vehicles annually, I think they would have a better chance of survival. The only other option is to be bought out by an ICE car maker or whatever the company that makes those UPS/Fedex box trucks/vans and needs to enter the consumer market.

[@tomchupick9450]

I love the design and invested a grand to support the dream of a more practical compact vehicle. I guess I’ll have to wait for the Zeekr Mix instead.

[@sc00Bay]

Unfortunately, I think the same applies to Aptera. We have/had the same in Germany with SION Motors (goes bankrupt) and Electric Brands X-Bus (will go bankrupt, shortly).

[@zdme4864]

it’s a shame too that Canoo is up that shitz creek without a paddle

[@TonyGrant.]

I'm sad to hear this as well. Out of all the EVs out there the Van version of this was the closest thing to what I want in a vehicle.

[@dennislyons3095]

I also would like to see them succeed. Unfortunately, I agree--they are headed for BK before the end of this year. Unfortunately. I saw them at San Diego, very nice for amount of room & some interesting layouts & cockpit. BUT--I doubt they will make it.

[@artildawn]

I'm still hoping this company makes it. I really like the vehicle designs and considerations.

[@user-vn6bi3dm4y]

You are right! Great vehicle especially the utility but piss ant management

[@theadoresmith2777]

Kind of looks like an iteration of the VW van/ute ...

[@stanpiers247]

Poor baby !!!.......Aptera seems like they are in the same boat.......nordic noir ??

[@tommycollier9172]

Same here Sam I'm disappointed too

[@Smith-zo5xh]

I agree, the jet prompted me to sell my position. Last straw.

[@EatSleepEmpire]

It’s a rivian van. It’s just not unique enough company to invest in. Team with rivian to make a specific van fleet, like Holden started as a coach builder for GM.

[@OveToranger]

This is sad news. I liked the Canoo. I would've liked to have one down the line, but now it looks like I wont have that option

[@mopower01]

I'd really like to see Canoo pull through this. For me this is like a modern day Tucker. I would love to own one of the trucks, but at the rate they are going I'd be better off to put my money into an Edison Motors hybrid pickup kit.

[@jonsaircond8520]

I have seen one on the road the van one. Looked really good but I think the day is done for car companies like this

[@vanrozay8871]

I believe Canoo had some orders from the U.S. Army, which could explain prioritizing those over retail sales. Wish some venture money would pump them up, take a shot.

[@crosslink1493]

They had orders for some demonstration vehicles from the USPS, too. Some low number like 6 vehicles with right-side drive. It makes sense for the USPS to have EVs in suburban/urban areas.

[@3DThrills]

I like their designs

[@KingLutherQ]

Canoo CEO Tony Aquila has been saying stuff that doesn't add up. Tony shows factory robots in its PR videos, while at the same time says that they will only manufacture at very low volume. He said producing at a very low volume will reduce Canoo's expenses and be profitable. What a load of bovine crap is this? There is no such thing as being profitable by selling EVs in low volume! An OEM needs to manufacture them at scale in hundreds of thousands to make a profit. Every OEM that doesn't manufacture at scale loses money for every EV they sell. I looked into Tony Aquilas history and found out that he is not even an engineer like Elon Musk or RJ Scaringe of Rivian. Tony was a high school drop out who started out as an insurance adjuster. So, Tony Aquila is more like a Trevor Milton. Last year, Tony Aquila spent half of Canoo's revenue on private jet travel. It gets better: Aquila owns the jet company! He is fleecing Canoo investors using jet rental and overpriced software subscription from Solera Holdings which he also owns. This seems like a creative and legal way of stealing investors money. This is starting to look like Nikola all over again. It is not hard to make prototypes. We see that in car shows every year. What is very difficult is to manufacture an EV at scale.

[@douginorlando6260]

Bingo

[@ArizonaPoet]

King, you're missing the point. Cost = direct materials, direct labor, indirect manufacturing overhead applied. Direct materials? Canoo's made with 1800 parts, vs 8000 parts for a comparable vehicle. Direct labor? Easier to assemble 1800 parts than 8000. When you have a gigafactory purchased at retail prices your NUT is quite large for indirect manufacturing overhead applied .... building & machinery. Tesla got Fremont for $25 million, a plant with a value of $250,,000,000. U.A.W. will force many many U.S. car plants to close. Tony Aquila wants one of those fully equipped plants for $25,000,000.... I think he'll get one. When he does I'll get my Bulldog.

[@KingLutherQ]

@@ArizonaPoet He also said Canoo is not in the business of selling to consumers. They will only sell to commercial business or fleets like USPS, Walmart or even the military. So, you don't get your Bulldog unless you order a fleet. You will never get it anyway because I'm pretty sure this start up will go bankrupt.

[@stevejames5064]

Thx for your information.

[@ArizonaPoet]

@@KingLutherQ ... consumer EV's have come on hard times King. They're distancing themselves with that line. After Canoo gets their first 250,000 unit a year factory they'll sell to consumers. At this point there's no maintenance network set up yet. They have a mobile team of engineers who will fly out and repair overnite any units they have night time access to. Tony's holding close to the vest his sources of capital until it's needed to purchase the big time factory. They got an order from Saudi's, and U.K.'s chomping at the bit to import Canoo's to the U.K. And, if you look at Arrival's failure of the micro-factory concept you'll see why 20,000 run rate at the end of this year's not favored by them. Just something they need to present until they get a full size, fully equipped factory from Ford or GM.

[@user-ni6le7hk9y]

Canoo van front and back looks the same. VACATION MOVIE.😮

[@Michael-yi4mc]

Rivian has commercial vans.

[@lonnieschreiner5879]

Sad. Looks and sounds like a great vehicle but not going anywhere. Where has all of the money gone?

[@IndigenousEarthling101]

Canoo may get some kind of government or private bailout. If they don’t, I hope they get acquired by Ford or Rivian. They actually do have a good vehicle platform and technology. However, they don’t appear to have plans for profitable scale or sufficient factory automation.

[@mrmawson2438]

Morning mate

[@audience2]

Never heard of them.

[@sullivanrachael]

The thing is, it’s very hard to make a practical, affordable EV when fundamentally a huge battery makes the realisation of this thing, impractical.

[@robertmendlein1090]

Excellent points. And another example of how the egocentric wealthy are so out of touch with not only “Everyman and woman” but basic financial fundamentals. It’s another example, for me, of “can’t we give this groundbreaking and valuable resource to someone who can actually reach its fully potential?” I’m saying this, because like Musk, we’ve provided tons of capital via government grants that once passing to the company are treated like the company has no responsibility to manage that money wisely, even if we never see a nickel in return. Taxes that went into NASA created some of the greatest advancements for humanity that we have ever seen and all of that innovation was SHARED across so many fields. While I support capitalism, this has become a crazy stupid trend that even solid companies like Boeing have succumbed to. Let’s hope we all wake up before it’s too late. Take care everyone.

[@janmessek1826]

Well that jet can be sold to recover that money unless they break it or use it to leave the country. Definitely an interesting vehicle.

[@jfernsle]

The top EV type I want is a van, and the Canoo looked like the best option, better than the VW ID Buzz. Really hope they survive

[@ericyuan9718]

U thinking of Vanlife?

[@keelferm]

Completely agree with your disappointment Sam, such a shame, and sounds like the people running Canoo, don't understand how markets work 😞

[@keelferm]

wtf... private jet?! Goes against everything Canoo should stand for!!!! FFS!

[@jeffhunter8879]

The company needs a new CEO. They have excitement in their product but no aggressive business plan.

[@justice1902]

That is sad, I was quite keen on this truck even though I ordered a Cybertruck.

[@Michael-yi4mc]

Or Cybervan.

[@tonystorcke]

It is sad because their vehicles have such potential.

[@stoner27th]

Give the design to the Chinese and they'll make the car in 3 months and sell it at half the price.

[@anindyodutta8247]

I would say, like Rivian that's not able to deliver on cars either, the EV bubble really really needs a wake-up call.... Guys a company should just not go public without sales .. An idea and great names on leadership and boards does not mean anything... To think about it, the commercial EV market is truly lucrative... I'm in India, and it has great potential here too.. But businesses don't want to get ripped off... They're not idiots, and they would not just sign paperwork seeing nice creatives and EVs driving in the snow.. It would be great Sam, if you can also throw some more light on what the heck their selling strategy was... Did they have any naked / battery only models for businesses... Did they target any specific kind of businesses... Did they plan for autonomous/remote logistics... I see good potential in even cold logistics for EVs where fuel consumption drives up costs significantly... I can't figure out what they wanted to do... But even more, I can figure out how the heck the regulators let a company go public with nothing but Ditz VC funding

[@thorbjrnhellehaven5766]

We need more car-sized electric picup trucks, for Europe. The American aircraft carrier sized pickup trucks are way too large for many users in Europe. To fit European vehicle categories and driver's license, they should be: Max gross weight: 3500 kg (7716 lbs) Trailer towing capacity: 3500 kg Normal drivers license type B is up to 3500 kg max gross weight. If you have to reduce that number for vehicle registration, you reduce legal load capacity too. Normal trailer license type BE can tow up to 3500 kg, its not a problem if capacity is more, you just can't legally tow more, unless you have higher class trailer license, or old BE from before 2013. If you inly have type B license, you can still tow a smaller trailer, but those rules are irrelevant and too comprehensive to include here,

[@timothyallbritton7203]

I was getting my hair cut the other day and there was a picture of this guy on a poster saying "Think You Are having A Bad hair Day, Look At This Guy"

[@DAVIDTATLITUG]

Just cancelled my preorder. Got my money back from Fisker also.

[@jongabrielsen3868]

Canoo is proof that you can have the greatest product in the world and still fail if all the other aspects of running a business are not also in place.

[@douglaswatt1582]

Wrong conclusion. Actually it's proof that sociopaths and narcissistic personalities don't really care about the mission they care about self-aggrandizement. That's their primary goal, and the mission is all just veneer covering the rot underneath

[@FWrulesful]

Haha the Jet for 1.7 USD😂😂😂😂😂

[@robertfonovic3551]

The guy is completely clueless, as are most of the subscribers.

[@DAVIDTATLITUG]

Maybe rented but the Viking evidently hasn't priced corporate jets.

[@marviwilson1853]

I think the future could be more shocking. Just like we lost Kodak with the digital camera revolution and Nokia who did not respond fast enough to the new Smartphone technology so I believe VW could end up on the brink. I don't believe they will make a successful transition from ICE cars to EV cars given the new competition around them. They won't be able to reinvent themselves and their EV brand. Lots of investment but no sales.

[@ryancragg2907]

The bigger news is that this isn't the first time Canoo has paid outrageous amounts for private jet use. Canoo paid Aquila Family Ventures $1.3 million in 2022 - a year where their revenue was zero dollars - and $1.8 million in 2021 for use of the private aircraft. Aquila also got canned from Solera back in 2019 because he had misappropriated Solera’s resources and money by fraudulently claiming that certain flight and hotel expenses were for Solera business. Solera had paid $700,000 towards Aquila's private jet.

[@mattbba8451]

They said they had contracts for the local government and the State they build in. They said they had a contract with the fed to make government vehicles. What a waste. I'm glad I didn't buy in. I was a year away from buying in for that Truck - not the UTE/Van.

[@Draconhuegela1]

Great news .... hopefully not long and they'll all follow them

[@maurobrattich7971]

Probably Canoo plan was to milk the US defense department with extremely lucrative contracts for a military spec. vehicles and leave the less profitable, somewhat competitive commercial side to others. Isn`t what all US manufacturers are interested in doing? Sad, sad state of affairs!

[@kalebdaark100]

Didn't Canoo just buy Arrival...or some of Arrival...or something?

[@fozzyrinker313]

I got my $100 deposit refunded a few months ago, really is a shame.

[@lunatik9696]

Investors should require yearly audits with quality accountants. This level of mismanagement sounds sketchy.

[@JoeyBlogs007]

Perhaps they can re-brand it as "barbed wire canoe".

[@dougm659]

I heard the CEO spends more on private jets than the company generates in revenues….says it all!

[@mk1st]

This bums me out. I am looking to replace my 2004 Tacoma. Their pickup would have been perfect for my business. Canoo, there is a consumer market: ME!