Canoo Enters A Dark EV Reality

Summary:

  • Canoo’s total cash outflows from operations in 2022 came in at $400 million to push its cash and cash equivalents to $36.6 million as of the end of the year.
  • Total operating expenses and capital expenditure for the first quarter of 2023 are expected to not be less than $85 million.
  • The subsequent liquidity gap has thrown Canoo’s future into disarray even as large orders have bolstered a fledging sales pipeline.

Electric Car And Electric Vehicle Charging Station

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There might be too many EV companies. This did not seem like a problem during the pandemic boom years when investors viewed demand for EVs as near-infinite and valued the common shares of EV companies under the lens


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