Pour one out for Canoo. It's official.

[Dark-Fx]

color me surprised. https://techcrunch.com/2025/03/05/canoos-ceo-is-buying-the-bankrupt-ev-startups-assets/

I might still be able to get my canoo afterall

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[COdogman]

Why do I feel like Tony Aquila is running a scam and this was his plan all along? Use investor money to pay yourself handsomely so that when the company fails you can buy all it's assets for pennies on the dollar and start over from a better place and even more control....

 

[AO_Pete]

That's exactly what's happening. Don't forget his family company (AFV) was the only one with tier 1 debt in Canoo, so he'll be paid before all the other suppliers, and since AFV owns most of the buildings in OK (largely funded with grants, then leased to Canoo), it's not a huge stretch to get things going again, the one small issue being all the suppliers and employees that he pissed off.

The longer it takes though, the less relevant Canoo become, their IP was already getting stale, so still not quite sure of the end game here.

I guess you've got to admire the grift, he's a fascinating character, had many bizarre meetings with him.

 

[UnsungZero_OldTimeAdMan]

That's exactly what's happening. Don't forget his family company (AFV) was the only one with tier 1 debt in Canoo, so he'll be paid before all the other suppliers, and since AFV owns most of the buildings in OK (largely funded with grants, then leased to Canoo), it's not a huge stretch to get things going again, the one small issue being all the suppliers and employees that he pissed off.

The longer it takes though, the less relevant Canoo become, their IP was already getting stale, so still not quite sure of the end game here.

I guess you've got to admire the grift, he's a fascinating character, had many bizarre meetings with him.

My thoughts exactly. Product-wise, if they could make it affordable ($20-40k range) and get to market, they might have a chance. But, with no mass manufacturing capacity and no battery deals, AND tariffs on anything that could be sourced from China... chances look worse than fantasy. Then there's range on a full charge. The average consumer is still thinking they need to see at least 300 mi advertised (even though they don't actually need it). Consumer education and perception is one of the hardest things to overcome/change in marketing. AFV might not have owned or fully owned Canoo's footprint before, this is a way for it to acquire those on the cheap—including whatever Canoo got when it acquired Arrival in the UK (when that went belly up).

 

[AO_Pete]

yeah, the UK effort was also a bit weird. The space they had in Bicester was a whopping 486sqft, i.e. the size of an average living room. Not clear if the gear they acquired from Arrival at 20c on the $ ever made it to OK, allegedly it was about 20 containers worth of robots and other manufacturing line equipment, so seems like that was part of the show and tell they kept doing from OK, where they appeared to have a functional production line.

In any case, don't bet against Tony (or at least make sure your bonus is paid from the same cost-center as his ?)

 

[COdogman]

EV truck maker Harbinger accuses Canoo of hiding assets in bankruptcy sale

https://techcrunch.com/2025/03/31/e...es-canoo-of-hiding-assets-in-bankruptcy-sale/

 

[Dark-Fx]

EV truck maker Harbinger accuses Canoo of hiding assets in bankruptcy sale

https://techcrunch.com/2025/03/31/e...es-canoo-of-hiding-assets-in-bankruptcy-sale/

One of those two things explains the only actual vehicle in the auctions disappearing before the auction started.

 

[COdogman]

One of those two things explains the only actual vehicle in the auctions disappearing before the auction started.

I would start by searching Tony's underground lair.

 

[schlosrat]

There goes my chance of having my own lunar rover.

Not so! Cybertrucks are still for sale...

 

[NY_Rob]

Gee, with all the dirty dealings, mismanagement, possible fraud by the CEO... I thought I was on the Fisker forum

 

[Donald Stanfield]

Not so! Cybertrucks are still for sale...

I said lunar rover, not shit box refrigerator.

 

[Blueassassin]

If anyone hasn't seen it KIA has a pretty cool adventure van they are prototyping as well. Got to see it in person at the Chicago auto show. Probably more chance this comes to life then Canoo ever had.

https://adventurouswayoflife.com/kia-wkndr-advntr-sema-concept-vehicles/

 

[AO_Pete]

Telo Trucks has potential too, again, more likely to get to market than Canoo.

https://www.telotrucks.com/pre-order?view=build

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