Friday, March 31, 2023

Canoo Settles SEC Charges

Canoo, the electric vehicle company which fled Los Angeles for Arkansas in 2021, and then went public via a SPAC, has settled with the SEC over an investigation into the company. The company had $33.6M in cash at the end of 2022, but apparently had a net loss of $487.7M for the entire year, and is still pre-revenue. The company has yet to deliver a production vehicle.