Struggling EV startup Canoo says it has furloughed 82 employees and is idling its factory in Oklahoma while it grasps for the capital needed to survive. The company claims it is in “advanced discussions with various capital sources” to raise emergency funding.
The announcement comes just a few days after board member James Chen resigned, and roughly one month after the company saw its chief financial officer and head lawyer depart. Canoo is also facing multiple lawsuits from suppliers over alleged late payments.
https://techcrunch.com/2024/12/18/canoo-furloughs-workers-and-idles-factory-as-it-scrapes-for-cash/