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Canoo, The Most Embarrassing EV Startup Failure
Canoo, The Most Embarrassing EV Startup Failure
Canoo, founded in 2017 by Stefan Krause and Ulrich Kranz, is an EV (electric vehicle) startup that aimed to begin entering the EV market with commercial clients, including Walmart, USPS, NASA, and others. Canoo EVs are all built upon the same skateboard base design, that allows Canoo to potentially save money on research and development. Canoo initially had talks with Nissan to create some sort of partnership, however those talks fell through. In 2021, Canoo went public via a SPAC, or special purpose acquisition company, and their stock reached all the way to the $460s. That year, Ulrich Kranza stepped down from his CEO position and was replaced by Tony Aquila, the head of Aquila Family Ventures. In 2023, it was reported that Canoo reimbursed Aquila Family Ventures $1.7 million for flights on Tony's private jet. Canoo's 2023 revenue was just $886,000, meaning that Canoo spent double the amount of money they made on private jet flights for their CEO. Additionally in 2023, Canoo delivered just 22 vehicles. Looking forward to 2024, Canoo project revenue of $50-100 million, althought it's unclear how they will achieve this. Additionally, in Quarter 1 of 2024, Canoo reported a loss of over $110 million, compared to analysts' expected loss of around $55 million. Let's dive into Canoo and where the company stands today, as well as the future of the EV startup.
All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material, please comment below (I read all comments) and we can sort anything out!
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Komentáře

  • @gauchoalum
    @gauchoalum Před 5 hodinami

    Sounds like a robot talking

  • @samihamouri
    @samihamouri Před 5 hodinami

    I did not even know about the existence of this company, I am from Saudi Arabia , and al jazeera paints are nobodys over here .. there are atleast 1000 other companies in saudi that are far more important than aljazeera paints, having canoo declare this partnership with such company makes them really desperate for any collaboration to boost the stock price. Great video as usual !

  • @Imlivingyoushouldtryit
    @Imlivingyoushouldtryit Před 16 hodinami

    In the early years, Amazon was losing millions or billions of dollars just like Lucid is now and look at Amazon now lucid to the moon.🚀🚀🚀🚀

  • @renetorres9041
    @renetorres9041 Před dnem

    lie. You repeat the same thing as everyone else.

  • @coma13794
    @coma13794 Před 3 dny

    Lucid is spending heavily on r&d, tooling and infrastructure, it was never going to be profitable just yet. Gravity SUV coming out later this year.

  • @stockey
    @stockey Před 3 dny

    Fisker tried twice, and twice their timing was not good.

  • @osterreichischerflochlandl4940

    Just because SA invested in Lucid does not mean that the company survives. There are car manufactureres with luxury class vehicles in their portfolio (Mercedes, Rolls Royce, Porsche, Jaguar, Lotus, Lamborghini, Maserati, BMW, Audi, maybe in the future Cadillac, etc) which are well established. If e.g. Cadillac would offer an electric car then it is likely that some people switch from Tesla to that. And in Europe there are enough established manufactureres with the same price levels and known quality.

  • @jereignjayavenhenryjohn6802

    Nice video keep it up.

    • @JStoryOfficial
      @JStoryOfficial Před 4 dny

      Thank you I appreciate it!

    • @jereignjayavenhenryjohn6802
      @jereignjayavenhenryjohn6802 Před 4 dny

      it's very sad Fisker will or might not be here any longer, even though the Ocean has many many features missing, the styling looks great and lastly, Fisker missed that opportunity to make the Ocean feel more premium and competitive

  • @muLin-gq4yk
    @muLin-gq4yk Před 4 dny

    Do you think there is still a chance to relist?

  • @Victic005
    @Victic005 Před 4 dny

    It already went bankrupt

    • @JStoryOfficial
      @JStoryOfficial Před 4 dny

      Not yet

    • @wizzyno1566
      @wizzyno1566 Před 3 dny

      Not yet

    • @CorridosXmusic
      @CorridosXmusic Před 10 hodinami

      Remember when Tesla went through the same situation Be Patient

    • @Victic005
      @Victic005 Před 10 hodinami

      @CorridosXmusic that's not anywhere near the same thing. Fisker have officially gone out of business. It turns out that it was a Ponzi scheme from the beginning. Do some research and quit using click bate statement.

  • @jorgecintron9674
    @jorgecintron9674 Před 5 dny

    Many think that Saudi Arabia is just throwing away 5-6+billion on Lucid because most especially in the U.S. only think about the here & now. This is a long term investment into their country/economy. It’s the only vehicle manufacturer in the country which is a huge deal and can export them to Europe/Asia. Let’s face it $6billion is a drop in the bucket. Elons compensation is almost 10X the amount the PIF has paid , just think about that. Not saying he shouldn’t get paid just making a $$$ comparison. Lucid is fine, what I’m worried about are the other upstarts that will need more money soon to stay solvent. Cheers!

  • @emoney822
    @emoney822 Před 7 dny

    Saudi Arabia need to invest in lithium mines in Canada that will help them become more diversified

  • @brianbassett4379
    @brianbassett4379 Před 7 dny

    Federal assistance, State emergency funds, and insurance on the bridge, combined with insurance from the ship owner, will cover the cost. I bet the replacement will have a toll, shifting much of the cost onto the public.

  • @SupraSav
    @SupraSav Před 7 dny

    I don't know why people like to use words like "never" or "impossible". You figure humans would learn from things like the Titanic.

  • @nnutanprabhat
    @nnutanprabhat Před 8 dny

    Nice click bait

  • @Lawiah0
    @Lawiah0 Před 8 dny

    BULLSHIT

  • @ImDreamingVideo
    @ImDreamingVideo Před 9 dny

    All investment funds and venture capitalists also invest in projects that are going to fail and one day will abandon them. Just because a strong one supports Lucid now, doesn't mean they will do so forever.

    • @FS-eh4dj
      @FS-eh4dj Před 8 dny

      you forget that the result of successful or failure can be answered when they produce mainstream market car in 2027

    • @ImDreamingVideo
      @ImDreamingVideo Před 8 dny

      @@FS-eh4dj I'm not saying that Lucid will be a failure. I'm saying that it is wrong to assume something must become a success only because a strong investor is behind it. There is never a guuarantee for success.

    • @casperhansen826
      @casperhansen826 Před 8 dny

      ​@@FS-eh4djDo you really believe anything they say? Lucid = Nikola Motors, Mr Rowlinson= Mr Trevor, I have no faith in either

    • @FS-eh4dj
      @FS-eh4dj Před 6 dny

      @@casperhansen826 Nikola hasnt achieve any innovation or advanced products ,,, Lucid is supervised by the Saudi investment fund they control most of the company voting power they can fire rowlinson but they dont because they are confident in the company they know the company they have insight unlike Nikola .

    • @FS-eh4dj
      @FS-eh4dj Před 6 dny

      @@casperhansen826 compering Lucid a company with innovative advanced products ( supervised by PIF ) with Nikola doesn’t make sense .

  • @henpil7098
    @henpil7098 Před 10 dny

    Worst car on market

    • @allencastell6538
      @allencastell6538 Před 4 dny

      Seriously? Have you forgotten about the crapwagons Elon makes?

  • @na93r
    @na93r Před 10 dny

    I'm from Saudi Arabia and I rarely see Lucid on the streets, but I believe PIF has bigger plans for Lucid, they are not just throwing billions into a losing company. very informative video, keep up the good work.

  • @Ronan_Shaw
    @Ronan_Shaw Před 12 dny

    Every animation does not need a sound effect. Super distracting 😢

  • @user-ur5wm4ek6q
    @user-ur5wm4ek6q Před 13 dny

    It is a long play for sure

  • @isserdigan2835
    @isserdigan2835 Před 13 dny

    FYI Dream is not 250k its the Sapphire

  • @roxter299roxter7
    @roxter299roxter7 Před 14 dny

    They need their investments to pay off, but that doesn’t mean they will. At some point you have to cut your losses.

  • @Colin-ir6et
    @Colin-ir6et Před 20 dny

    Hope this company fails, they and carmax have totally fucked the used car market with their venture capital raising cost of living an insane amount for lower and middle class Americans who need vehicles to exist and work.

  • @Droidman1231
    @Droidman1231 Před 21 dnem

    For a video titled about it's comeback, too much time is spent going over basic/irrelevant facts. Feels very dragged out and repetitive to artificially increase watch time. Couldn't finish

  • @Allen_Leigh_Canada
    @Allen_Leigh_Canada Před 21 dnem

    Impressive turn around, at least temporary turnaround! however, a new company will always have its early years of ups and downs, while they go through their trial and errors. in addition, it's a very cyclical business, which is an unfavourable sector to invest.

  • @wendyharbon7290
    @wendyharbon7290 Před 27 dny

    The early NTSB accident report, on this Baltimore bridge accident, is helpful and interesting over what lead to the container ship hitting the bridge and causing the bridge collapse too. It seems multiple circuit breakers, went off line for some reason, not once but twice within a few seconds or minutes of each other. Which cut power to engine pumps and rudder systems, which lead to the ship engine automatically shutting down too. So the bridge crew had no control over steering or propulsion too, so the container ship hit the bridge basically.

    • @brianbassett4379
      @brianbassett4379 Před 7 dny

      Yeah, Wendy, we have all seen the videos and analysis, basically

  • @danvanhoose6783
    @danvanhoose6783 Před 28 dny

    Bend over tax payers.

  • @mazozpk
    @mazozpk Před 29 dny

    Great production and especially mic quality for such an extremely small channel! Good Luck bro

  • @Melina.folina.123
    @Melina.folina.123 Před 29 dny

    Well edited, good luck

  • @greyfox3931
    @greyfox3931 Před měsícem

    Good luck my guy, good vid.

  • @Eclihpse
    @Eclihpse Před měsícem

    Channel will boom

  • @nicheroni3452
    @nicheroni3452 Před měsícem

    Surprised to be the first comment. Your editint is super good.

  • @box420
    @box420 Před měsícem

    how long until automaker figure out the normal people cant afford 80k car or trucks. it blows me away how out of touch they are. like who wants there auto payment to be more than there rent? the prices for cars is ridiculous. bring back the 20k new cars and they sell hanover fist. but unfortunately i bet the stealer ships will mark them up to 25-28k. just look at the ford maverick. msrp is 20k but you cant find one that's any less than 24k. cant hardly find a car without 100k miles on it under 17k

  • @grilsegrils9330
    @grilsegrils9330 Před měsícem

    Our first Airbnb as guests was a disaster, so we never tried it again. There was something wrong in the bathroom that was unacceptable and impossible for the host to do anything about. We had to stay at a hotel instead for our stay. Airbnb customer support didn't live up to our expectations, when we finally had to pull the plugs on this contract. We ended up loosing much of our money

  • @bossfan61
    @bossfan61 Před měsícem

    07:25 Users in billions???

    • @JStoryOfficial
      @JStoryOfficial Před měsícem

      Haha whoops good catch, yes should say millions

  • @computersales
    @computersales Před měsícem

    Basically ruined by greed like everything in the US.

  • @Idontwantahandle3
    @Idontwantahandle3 Před měsícem

    We Airbnb one of the rooms in our house, so far all of the visitors have been people between houses that are struggling to find a new place to live. None have been people travelling and visiting. Our house is not on a lake or anything, so it may not attract vacationers, but It seems to me the only reason why Airbnb is doing well, is because there is a housing crises and people are being forced to Airbnb between houses. - Australia.

  • @metetong2065
    @metetong2065 Před měsícem

    There are also other consequences of rnbnb in renting in general...it made renting prices explode for locals as landlords dicovered they could make more money turning their flats into rbnb instead of renting it to a local, the shrinkage of available long term rent caused invreases in renting fees for no added benefit for locals

  • @jonathanmandl4001
    @jonathanmandl4001 Před měsícem

    Great video!

  • @OLDMANTEA
    @OLDMANTEA Před měsícem

    I remember when BnB’s came with chat with the owners and homemade breakfasts.

  • @Leothegoat13
    @Leothegoat13 Před měsícem

    Sub number 37. You’re gonna blow up, man. Great vid!

  • @getonwithit.2847
    @getonwithit.2847 Před měsícem

    Air bnb outside of the US in South East Asian countries like Thailand and Vietnam is actually well worth it as opposed to booking a Hotel.

  • @luigivincenz3843
    @luigivincenz3843 Před měsícem

    In our area, you might as well stay in a hotel because it's almost the same rate. And unlike a hotel, I dont remember the rentee lecturing the renter (guest) about cleaning the bed sheets afterwards.

  • @marketrooper6473
    @marketrooper6473 Před měsícem

    What happened is right!…may as well just pay for a hotel for what you get

  • @adammorrison3281
    @adammorrison3281 Před měsícem

    Great videos man. Keep them coming.

  • @KlassiusK
    @KlassiusK Před měsícem

    This is an excellent video mate, your channel will get traction in no time. keep up the good work.

  • @samuraijack1371
    @samuraijack1371 Před měsícem

    There is no disruption from Airbnb. Concept of Airbnb is no owning physical assets and being the middle man. Big hotel chains are exactly the same. They do not own most of the hotels but instead license their names and standardize the services.hotel chains have been Airbnb before Airbnb existed. None of the hotel chains are worried about Airbnb. A note about these “middle man” companies like Airbnb, Uber, DoorDash they are just middle man but they are taking a 30-40% from the market place. That’s just absurdly large. Someone has to pay the cost and it will be the customers. No wonder every such company just sucks. Imagine if the real estate agent took 30% cut from the home sales price. There won’t be any housing market left. They are ripping people off and people know so and are just not happy and feel stuck with sub par service apps.

  • @blockchainbreakdown2009
    @blockchainbreakdown2009 Před měsícem

    You have....a very narrow understanding of Coinbase's revenue models....you need to do a lot more research, you didn't even touch on Base...which is just one of the MANY sources you missed.

  • @robertmint388
    @robertmint388 Před měsícem

    Coinbase's fees are just way too high. Don't use them anymore!