Canoo sinks

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dan_b
Posts: 2445
Joined: Tue Jun 15, 2021 10:16 am
Location: SW London

Canoo sinks

#1

Post by dan_b »

And another EV start-up bites the dust.
It's ruthless out there.
Wonder who's next?

https://cleantechnica.com/2025/01/20/ca ... whos-next/
Tesla Model 3 Performance
Oversees an 11kWp solar array at work
Mart
Posts: 1390
Joined: Mon Jun 14, 2021 1:17 pm

Re: Canoo sinks

#2

Post by Mart »

Next could be Rivian (possibly Aptera). Rivian's losses keep mounting, and sales of their PU have dropped off significantly with the launch of the Cybertruck.

I think Lucid is safe, but purely because of the cash injections from the Saudi PIF. If those stop, it will go bust in about 1yr. They've been losing a lot of money for 17yrs now.

And BYD are yet again, ramping up the price war in the Asian and Oceania regions, so that could (or will) reduce the number of new(ish) companies there. China appears to be a bloodbath, not just new EV companies dying, but 1,000's and 1,000's of dealerships too, as the new energy vehicle market evolves.

...... and then there's legacy auto, going through hell, and no idea what to do.

This decade will be brutal, perhaps a repeat of the early decades of the 20th Century, with 100's of car start up consolidating, such as General Motors.
8.7kWp PV [2.12kWp SSW + 4.61kWp ESE PV + 2.0kWp WNW PV]
Two BEV's.
Two small A2A heatpumps.
20kWh Battery storage.
dan_b
Posts: 2445
Joined: Tue Jun 15, 2021 10:16 am
Location: SW London

Re: Canoo sinks

#3

Post by dan_b »

Rivian could just get bought by VW I think - maybe they’ll wait till they’re on the verge of collapse and pick them up cheap?
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Oversees an 11kWp solar array at work
Mart
Posts: 1390
Joined: Mon Jun 14, 2021 1:17 pm

Re: Canoo sinks

#4

Post by Mart »

dan_b wrote: Tue Jan 21, 2025 10:03 am Rivian could just get bought by VW I think - maybe they’ll wait till they’re on the verge of collapse and pick them up cheap?
Good idea Dan, that could really help VWG. Rivian market cap now $15bn, has been half that, but the VW deal helped them. Drop in the ocean for VWG who regularly trade places with Toyota for most indebted company (of any type) in the World*, at ~$200bn. But much of that debt is linked to car leases.

*Recent new entrant to the debt podium is the Chinese property company Evergrande, which is somewhere north of $300bn.
8.7kWp PV [2.12kWp SSW + 4.61kWp ESE PV + 2.0kWp WNW PV]
Two BEV's.
Two small A2A heatpumps.
20kWh Battery storage.
dan_b
Posts: 2445
Joined: Tue Jun 15, 2021 10:16 am
Location: SW London

Re: Canoo sinks

#5

Post by dan_b »

VW has a vested interest in Rivian as their own in-house EV software development arm Cariad seems to have utterly stuffed up and VW has partnered with Rivian to help it develop its software.
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Oversees an 11kWp solar array at work
Swwils
Posts: 584
Joined: Sat Feb 26, 2022 12:58 pm

Re: Canoo sinks

#6

Post by Swwils »

I quite want to obtain one of the two trial vans they had with royal mail. Anyone with contacts please DM me.
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