Canoo

[Paule4ou]

https://seekingalpha.com/pr/19247780...ancial-results

[BridgeBurner]

https://seekingalpha.com/pr/19247780...ancial-results

Is that as bad at it looks? Not very well versed in start up investments.

[fortpatches]

Not that great.
But this next 1-2yrs will be their make or break. They will be accelerating their manufacturing this year and just brought on a new CEO with similar experience.

> Mr. Damoa has held critical leadership positions at early start ups and well-established corporations. His history includes Flight Module Logistics Management at SpaceX, Integration Project Manager at Northrop Grumann, Vice President at Romeo Power Technology, Vice President at XOS Trucks, Logistics & Safety Director at Canoo, and VP of Operations at Serial 1 Cycle Company.

I actually got a few hundred shares. Like I might lose $200 but I figure they will go up from where they are. Plus they are investing in the area so I support that.

[Jeepnokc]

Not that great.


I actually got a few hundred shares. Like I might lose $200 but I figure they will go up from where they are. Plus they are investing in the area so I support that.

I did same $560 for 1000 shares. I donate more than that to the tribal casinos on a night out so dont mind the gamble.















































i

[FighttheGoodFight]

https://www.readfrontier.org/stories...hifting-plans/

"The electric vehicle startup Canoo missed a key deadline and lost out on a deal to reap up to $10 million in state incentives from Oklahoma after failing to start construction on a factory in Pryor.

And the company could forfeit the right to collect millions more in state money if it doesn’t finalize the purchase of an Oklahoma City plant later this year, according to documents obtained by The Frontier."

[Paule4ou]

“Aquila said the company hopes to get cars off the assembly line in Oklahoma City by the end of 2023 and has already begun moving manufacturing equipment there. But one analyst predicts the company will only produce a “modest” number of vehicles this year.”

Quote from their earnings call last week yet now we hear they haven’t even finalized the purchase of the old TEREX facility. Full disclosure I’m a shareholder here but this is turning into a smoke & mirror game real quick.

[Midtowner]

I’m a shareholder here but this is turning into a smoke & mirror game real quick.

annd it's gone.

[Jersey Boss]

Canoo chief design officer Richard Kim departs EV maker | Fortune
https://fortune.com/2023/04/06/canoo...d-kim-departs/

[Pete]

Startup struggles are understandable, but there is a massive gap between what this company keeps saying and what they actually do.

[jerrywall]

I figure there will be more EV failures than successes, so I'm not totally surprised here. It's rather disappointing though, and at this point it's hard to take any positive Canoo news seriously.

[jedicurt]

exactly. like all of the statements about OKC assembly means nothing until they at least finalize a purchase of a facility to perform the assembly

[Swake]

https://tulsaworld.com/business/110-...f6aa0a41b.html

[jedicurt]

https://tulsaworld.com/business/110-...f6aa0a41b.html

again, until there is an approved agreement for a location, then i will believe it

[Swake]

again, until there is an approved agreement for a location, then i will believe it

They do have a location in Pryor that they currently occupy and are building out.

[Plutonic Panda]

They do have a location in Pryor that they currently occupy and are building out.

Where’s the photos of that? Something more than a sign and some land clearing would be more exciting.

[Swake]

Where’s the photos of that? Something more than a sign and some land clearing would be more exciting.

There are outside and inside photos with the TW article.

KOTV has inside and outside video. The video from inside shows a lot of huge crates that have been delivered and not opened yet.

https://www.newson6.com/story/642e01...n-mayes-county

[Plutonic Panda]

The larger facility is planned in Mid-America, no? That article implies the current facility and larger one will be in two separate areas so I am confused here. I do remember reading that but haven’t heard much sense. You’d think they want to better publicize their progress with pictures of construction all over social media.

[Zuplar]

Channel 9 just ran a piece at their 5pm newscast that said they acquired a plant. Are they talking about the altered facility? Did they finally close on this or is this Canoo PR trying to save face?

[Pete]

Channel 4 reporting the sale closed:

https://kfor.com/news/local/canoo-bu...ng-operations/

[Pete]

I just checked the Canadian County Assessor site and the Terex property has not changed hands.

[catch22]

They mentioned easy on-site rail access when this was announced, but I don't really see it. Maybe they will build a separate facility nearby for their shipping and receiving and just truck things over as needed? There's a Union Pacific mainline north of I-40 but no easy way to get a rail line to the facility. There would be a very expensive right of way as well as construction of a grade-separated bridge... It would easily be a $40 million project to connect to that. To the south, there's the Stillwater Central Railroad that interchanges with BNSF. There "might" be some preserved right of way just looking at the aerial photos and what looks to possibly be a very old railroad bed...but I am not sure. It would be expensive to lay that much track, but it would be the easiest solution would be to extend the industry track that passes through Hobby Lobby. This would also require the construction of a bridge over Mustang Creek.

[Plutonic Panda]

Briana Bailey posted this on Twitter: https://ir.stockpr.com/canoo/sec-fil...12158d1_8k.htm

Canoo didn’t buy the property but a shell company did. Huh.

[Paule4ou]

Briana Bailey posted this on Twitter: https://ir.stockpr.com/canoo/sec-fil...12158d1_8k.htm

Canoo didn’t buy the property but a shell company did. Huh.

I believe they may have bought the property with the intent to immediately sell it to another party who in turn leased it back to them. Since they are so low on cash that may be the only way they could have done the deal.

I’m still not buying Tony’s comments during the last earnings call that 60% of their equipment “is already in OKC”.

[Plutonic Panda]

I don’t know enough about economics to even have a clue as to what is going on. I’ll just believe this is real deal when they start producing and selling vehicles.

[T. Jamison]

While the Assessors site does not show the property has sold, the County Clerks does.