EV startup Canoo might go out of business before a single vehicle ships

Next time someone tells you that Tesla needs more competitors, tell them that bringing a new EV to market — especially one manufacturing in the US, is no easy feat, as all-electric van startup Canoo revealed this week.

The company, founded in 2017, announced first quarter results yesterday, and there are some alarming details. 

There are alot of big numbers and technical terms for those of us without a degree in finance or accounting. But let’s take a look at who Canoo is, its offerings, and what its financial woes might mean for the company.  

Canoo’s funky designs