Not really surprising, but sad to see.
You could argue that the employees should also be held accountable for happily collecting paychecks without actually producing anything this whole time, but that’s a conversation for another day.
Are you kidding me!? Workers are supposed to be liable for part of the blame despite not having decision-making power to steer the company?? If things had gone better and the company was wildly successful, would employees have received shares of the profits…?
There’s a decent chance some salaried employees got stock grants. It’s great if you’re at Nvidia. If you’re at Canoo, though…
But yeah, the failure is ultimately on leadership. And I’m sure the founders will make some kind of excuse and move on to get funded for their next failed venture.
If things had gone better and the company was wildly successful, would employees have received shares of the profits…?
Sarcasm incoming:
Sharing‽ Sounds like commie bullshit to me! /S
(It’s sad that I have to put so many explicit qualifiers, but that’s the world we live in, now.)
Not really surprising at all given these EVs were clearly designed for Australia not the US.
So that’s why the image is upside down.
Ah see I was just thinking the Canoo was in amphibious mode.
Take your upvote and get out :)
That’s too bad, I liked the more utilitarian approach and thought the design was cute
A bit of a heist ? State subsidies, and now protection from creditors?
Where’s all the money ?
Ultimately, I’d guess they had no order book, despite the name dropping USPS and NASA all over the place. If you’ve got government orders, you have no problem financing increased production.
That’s the standard way a company goes through bankruptcy. Unless the executives overpaid themselves or otherwise extracted money from the company, that’s just the way it goes with a startup that fails.
I see what they did there.
Damn, that’s a shame. I wasn’t aware that the company was struggling with management issues. Their concept vehicles looked a little dorky, but practical. I’m sad I’ll never see them on the roads.
Bets on who’s next? I say Lucid.
Lucid’s not going anywhere for a while, they’ve got lots of Saudi money flowing
Considering they’re predominately Chinese software and they’re a looming Chinese software ban….
