Financial StabilitySince early 2022, there have been concerns about Canoo's ability to continue as a going concern, despite funding from Yorkville and the CEO's family office.
Production SuspensionCanoo has suspended production in Oklahoma and is facing a need for capital.
Workforce ImpactCanoo consolidated its facilities from six to three, impacting its workforce and leading to a 23% furlough of its Oklahoma City factory workers.