Canoo is yet another electric vehicle maker that is burning through cash and not producing many vehicles. Yet there is hope on the horizon for this company, which has just cut a deal with walmart, the world's biggest retailer, for 1,000 electric vehicles to use in a new delivery service.
Fortune reports: The push for the use of electric vehicles in the U.S. is ramping up. Especially in California as the state just put a ban on gas-burning cars by 2035. Tony Aquila, the CEO of Canoo, a public EV company, is certain he can compete with brands like Tesla. But there’s one hurdle—Canoo hasn’t yet generated any revenue. .
Indeed, Fortune reports that the company burned through $164 million in its second quarter this year
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Auto Styling News is a blog that covers car concepts, newly released models, and the auto industry.
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Auto Styling News is a blog that covers car concepts, newly released models, and the auto industry.
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