Electric vehicle (EV) stock Canoo (NASDAQ: GOEV) sank today, plunging 11.4% as of 11:50 a.m. ET. In its latest regulatory filing, Canoo revealed it doesn't expect to sign a definite contract-manufacturing agreement with Netherlands-based VDL Nedcar anymore. The two companies announced a deal in June, under which VDL Nedcar was expected to build 1,000 units of Canoo's first all-electric passenger vehicle, dubbed the Lifestyle Vehicle, in 2022, with a target 15,000 vehicles by 2023.
Arcimoto (FUV) and Canoo's (GOEV) third-quarter 2021 loss widens year over year. Meanwhile, Fisker (FSR) and XPeng (XPEV) launch Ocean SUV and G9 models, respectively.
The recent IPO of EV maker Rivian Automotive, Inc. captivated the market, soaring in its first few sessions and commanding a higher valuation than Ford. But investors keen to ride the EV revolution should consider lesser-known companies, especially Canoo Inc., whose skateboard-and-tophat model gives it flexibiliy to offer both recreational and commercial vehicles with minimal […]