Canoo seems to be facing serious financial issues. About 30 workers are on furlough
Some Oklahoma-based papers have been lately reporting news about several accusations by the staff, with about 30 workers recently put under furlough at Canoo's factory in Oklahoma. The pieces of news were confirmed th the U.S.-based manufacturer.
Electric vehicle manufacturer Canoo may be facing serious financial difficulties. Indeed, some Oklahoma-based papers have been lately reporting news about several accusations by the staff, with about 30 workers recently put under furlough at Canoo’s factory in Oklahoma.
According to Electrive, which reports an article published by carscoops, Canoo “now only holds $4.51 million in cash and equivalents and is still struggling to deliver vehicles in a profitable manner”. In addition, Electrive states that “last year, Canoo only managed to deliver 22 vehicles and faced legal issues over non-payment of suppliers“.
The official statement about Canoo’s difficult financial situation
The U.S.-based company, led by controversial CEO Tony Aquila, released an official comment at the local newspaper The Oklahoman, confirming the news about people on furlough: “Canoo has made the difficult decision to temporarily reduce our workforce in Oklahoma City by furloughing 23% of our factory workers for a period of twelve weeks as part of a broader realignment of our North American operations. This reduction is a continuation of our efforts to consolidate our U.S. workforce which includes redistributing some of our tenured and skilled employees to our Oklahoma City and Texas facilities as part of our comprehensive plan and supply chain harmonization to prepare the company for the next phase of growth.”
Only last month, Canoo released a news about the company’s intention to set a very first European location in the UK, as we wrote in this post.
