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Canoo announces massive stock sale to fund production ramp

Teslarati

Like many other EV startups, Canoo has consistently faced issues with financing. In mid-2022, the company was even looking down the barrel of bankruptcy, and without last-minute orders of thousands of vehicles, the company would not be here today. However, volume production has not yet started.

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Canoo (GOEV) stock surges after OKC EV facility gets key approval

Baua Electric

Shares of American EV startup Canoo (GOEV) are surging after its Oklahoma City facility received approval as a Foreign Trade Zone (FTZ). Electrek’s Take Like other EV startups (or any growth company), a higher stock price makes it easier to raise funds (via debt) and attract new investors. million in cash and equivalents.