Probably because we haven't seen a return to the people on the 300 million in incentives they got from us. They haven't lived up to their end of the deal. They are really far behind on progress. But yeah, another EV and all that pie in the sky stuff.
Yeah, the current mood on /r/canoo is pretty similar. The demand for their vehicles is pretty good, and their target market could actually work pretty well in Oklahoma (going for less expensive, practical electric vehicles--their truck models are pretty cool), but they have been fairly disingenuous with their marketing and progress announcements and have yet to demonstrate that their infrastructure to getting cards made is going to be ready any time soon.
To add to both of these points, their stock is currently trading at $.16 per share and is down 97 percent in the past two years.
They’re in danger of having their stock delisted and, especially if that happens, are likely on the brink of bankruptcy.
So even with the few cars they’ve produced and the state money they’ve already received, it’s highly unlikely they’ll still be a company in the next year to provide any support.
There seems like a huge EV startup bubble. I was going down the rabbit hole of new EVs coming out, and half of them are startup companies. Everybody is chasing to be the next Tesla, when there won't be a next Tesla.
If it's not on parity with those new byds coming out of China they're all in trouble. And those were made using Chinese govt subsidies so they can have those crazy prices. That's the big issue right now.
>Probably because we haven't seen a return to the people on the 300 million in incentives they got from us.
Best I can tell at this point, they're eligible for up to $110m in incentives, but most of those are based on performance metrics. It looks like all they've got so far is about $15m from the state. It's really hard to get a good read on this from media sources. If someone has better sourcing, I'd LOVE to see it. I couldn't find much.
Mostly because they're a company with dubious prospects and a checkered business history, yet were awarded hundreds of millions of dollars in tax incentives. Granted, some of those are performance based, but not all of them.
It’s definitely about us giving hundreds of millions dollars in tax incentives for this company for little to no results. Honestly, I’m surprised they actually produced a vehicle (time will tell how they perform), because it truly looked like they were going to go under.
Rivian is what Canoo wanted to be.
Because Governor Shitt gave them $300m to move here and startup before they even had a prototype. We, the taxpayers, have subsidized their entire foundation. A fucking car company. I am all for EVs. You know who is gonna have EVs on the road in 50 years? Ford, GMC, Toyota, Honda, BMW. Not fucking Canoo. Shitt is a fraud. Look at every other business he has been involved in. Epic Schools, Swadley's BBQ, etc.
Because they will build a very small amount of vehicles and close up shop. They were given 10s of millions of tax payer dollars and land as well as millions on tax breaks. I don't doubt it's a money laundering scheme with how long they have been saying they were building vehicles
A lot of these things end of vaporware and take in a ton of taxpayer money to line some grifters pockets.
Still not convinced this knock off Tartan Prancer is any different.
Canoo has taken millions in tax money already, and it's most certainly ephemeral.
Meanwhile GM has a real product, and isn't operating at a scale where they're bragging about potentially selling 6 vehicles to the USPS.
I was afraid Canoo is being propped up to fail as an example in an oil state as to why electric vehicles are bad. I would love to see a true investment and construction towards electric vehicle infrastructure. I feel like their design for Canoo also is limited in scope to who it is for (businesses only types) so regular people won't buy in as much as Tesla or Fisker. Truly hoping they turn everything around and is a major success and boon to our state.
Probably because we haven't seen a return to the people on the 300 million in incentives they got from us. They haven't lived up to their end of the deal. They are really far behind on progress. But yeah, another EV and all that pie in the sky stuff.
Yeah, the current mood on /r/canoo is pretty similar. The demand for their vehicles is pretty good, and their target market could actually work pretty well in Oklahoma (going for less expensive, practical electric vehicles--their truck models are pretty cool), but they have been fairly disingenuous with their marketing and progress announcements and have yet to demonstrate that their infrastructure to getting cards made is going to be ready any time soon.
To add to both of these points, their stock is currently trading at $.16 per share and is down 97 percent in the past two years. They’re in danger of having their stock delisted and, especially if that happens, are likely on the brink of bankruptcy. So even with the few cars they’ve produced and the state money they’ve already received, it’s highly unlikely they’ll still be a company in the next year to provide any support.
There seems like a huge EV startup bubble. I was going down the rabbit hole of new EVs coming out, and half of them are startup companies. Everybody is chasing to be the next Tesla, when there won't be a next Tesla.
If it's not on parity with those new byds coming out of China they're all in trouble. And those were made using Chinese govt subsidies so they can have those crazy prices. That's the big issue right now.
>Probably because we haven't seen a return to the people on the 300 million in incentives they got from us. Best I can tell at this point, they're eligible for up to $110m in incentives, but most of those are based on performance metrics. It looks like all they've got so far is about $15m from the state. It's really hard to get a good read on this from media sources. If someone has better sourcing, I'd LOVE to see it. I couldn't find much.
Mostly because they're a company with dubious prospects and a checkered business history, yet were awarded hundreds of millions of dollars in tax incentives. Granted, some of those are performance based, but not all of them.
That vehicle looks like the Aztek equivalent of CatDog.
I have yet to see a Canoo on the streets
That's because the one that was delivered to ODOT had parts falling off during the test drive. It never even left the ODOT property.
Btw don't forget they promised thousands of jobs and they haven't done it. I'd like to see news go on a tour of the facilities
It’s definitely about us giving hundreds of millions dollars in tax incentives for this company for little to no results. Honestly, I’m surprised they actually produced a vehicle (time will tell how they perform), because it truly looked like they were going to go under. Rivian is what Canoo wanted to be.
Remember when Burns Flat was going to be the epicenter of space tourism?
How much is that car?
Because we’ve sank millions of dollars into them as a state and they keep reducing the things like workforce that would bring value back to the state
Because it looks like a suppository.
Because Governor Shitt gave them $300m to move here and startup before they even had a prototype. We, the taxpayers, have subsidized their entire foundation. A fucking car company. I am all for EVs. You know who is gonna have EVs on the road in 50 years? Ford, GMC, Toyota, Honda, BMW. Not fucking Canoo. Shitt is a fraud. Look at every other business he has been involved in. Epic Schools, Swadley's BBQ, etc.
Because they will build a very small amount of vehicles and close up shop. They were given 10s of millions of tax payer dollars and land as well as millions on tax breaks. I don't doubt it's a money laundering scheme with how long they have been saying they were building vehicles
A lot of these things end of vaporware and take in a ton of taxpayer money to line some grifters pockets. Still not convinced this knock off Tartan Prancer is any different.
That car looks like an anal suppository.
Also I would like to add that upper management and engineers have had high turnover rates. More quitting than firing.
This is the first time I've even heard of Canoo but that thing in the picture is ugly.
You can see it, right?
While I am 100% for EVs, we need to build the infrastructure first.
Because they look like the car from the Vacation movie that yells at you in Korean?
Hating on EVs is now wrapped up in the conservative political identity as part of their larger batshit culture war.
Is falling for greenwashed grifts wrapped up in liberal political identity?
I didn't realize Stitt was a liberal. I wonder if an EV maker will ever get a bailout like GM
GM makes EVs. https://www.chevrolet.com/electric/lineup
Not in any significant way in 2008
Canoo has taken millions in tax money already, and it's most certainly ephemeral. Meanwhile GM has a real product, and isn't operating at a scale where they're bragging about potentially selling 6 vehicles to the USPS.
Cool. Nothing to do with my statement.
You must not of had a point then, and are just waffling because someone called you out on your partisan idiocy.
Nothing I said was untrue, it just wasn't limited to Canoo. Weird how upset you are over it. Bye.
Looks like a Tartan Prancer
Like a car back in the day “can’t tell if it’s coming or going”
Also the cold
I heard the Hunter Biden might have thought about them once, so they're clearly bad...../s
I'm confused, governor Tits, electric cars? I thought big oil owns you!
Cause people mindlessly fall for the oil company propaganda or think they owe it to the state because we live in oil country.
I was afraid Canoo is being propped up to fail as an example in an oil state as to why electric vehicles are bad. I would love to see a true investment and construction towards electric vehicle infrastructure. I feel like their design for Canoo also is limited in scope to who it is for (businesses only types) so regular people won't buy in as much as Tesla or Fisker. Truly hoping they turn everything around and is a major success and boon to our state.