Making cars is hard

[MintJulep]

Another EV startup learns that a "vision" isn't enough.

EV startup Canoo files for bankruptcy and ceases operations | TechCrunch https://search.app/v16dQRSg4jTteBJ88

 

[IRstuff]

link got messed up EV startup Canoo files for bankruptcy and ceases operations

It looks like it was essentially in trouble before the SPAC merger, and the merger was simply a low-overhead way of funding the company in a "fake it till you make it" approach.

 

[GregLocock]

600M is not a whole lot of money to get an entire new platform into production, even for an experienced company.

 

[TugboatEng]

The fact that the prototype lacked front crumple zones should have been a red flag.

 

[IRstuff]

600M is not a whole lot of money to get an entire new platform into production, even for an experienced company.

The timing of the SPAC merger might have had something to do with the low capitalization, which probably accelerated the company's doom.