Canoo Announces Production Numbers, Plans For 2024
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- เผยแพร่เมื่อ 1 เม.ย. 2024
- Canoo says it is borrowing a few pages from the playbooks of Ford and Tesla with stair-set manufacuturing goals. Here's a wrap up of the EV start-up's April 1, 2024 earnings call that includes several key soundbites with Chairman and CEO Tony Aquila . A more detailed story that includes additional financial information is at: evrider.tv/ev-startup-canoos-...
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So 3,000 vehicles in 2024 with a planned profit of 50 to 100 million so 16.6k to 33k profit per vehicle but burning through up to 300M. This must be that fuzzy math I’ve heard about.
Good job. But yeah, how did you not even mention the Tony Aquila jet travel debacle?
Nice report. Your enthusiasm level is just right: not too amped up, not too laid back.
Informative and clear.
Production numbers should really begin to accelerate once its new magic wand plant comes on line.
"We're really investing in the wand economics to get our foundation right. As a contingency we've also invested 200 million in 12 magic beans offered to us by a wandering band of tinkers."
The Post Office has a Right Hand Drive for a reason, Delivery. What they had with the Jeep and the LLV was a Sliding Door on the Right Drivers Side.. It can be left open while moving along. That is what the USPS needs again.. Canoo would have a winning profile if they offered that.. JMPO on USPS
USPS already has a new truck coming out, it's a little goofy but it's designed for mail delivery from the ground up. Whatever Canoo gets contracted will be pretty limited and delayed on top of that.
I am convinced that they'll be successful in the long run.
In 1000 years maybe.
6.....6 cars. I would bet they will build closer to 300 than 3000.
Canoo is building vehicles manually. the number of 30 vehicles will be built in 2024.
Holy wow! 30?
Where do i invest?????
Wow Canoo are nearly building as fast as GM'S Hummer EV...!!
I thought they had gone bankrupt, as I had heard NOTHING for years.
Please where can I order one?
You can order at www.canoo.com/ but fyi that Canoo is only selling to fleet customers (businesses). It isn't selling to consumers at this point.
Notably, back when Ford was starting, and more recently when Tesla was starting, each had something of a blue ocean market available. Canoo is launching into a very different market today. It is good they are trying to be much more disciplined with capital, but still, will probably take huge dilution to raise enough to keep going.
prototype is ez, production is extremely hard.....Elon
How is Musk to be taken seriously?
@@tettazwo9865 Billions of dollars is not a joke.
In 2023, Canoo CEO Tony Aquila spent half of Canoo's revenue on private jet travel. Aquila owned the jet but fleeced Canoo investors gobs of money for the jet rental. There is no such thing as being profitable by selling EVs in low volume. That is pure BS!!! An OEM needs to manufacture them at scale in hundreds of thousands to make a profit. Every OEM that doesn't manufacture at scale loses money for every EV they sell. Tony saying Canoo will make a profit through low volume production with an MSRP price between $35K to $50K is pure BS. Tony is no engineer like Elon Musk, he is more like a insurance claims adjuster who found a way to con investors. To me Canoo seems like Nikola all over again.
If this is, in fact, the case, how can the shareholders possibly put faith in somebody who burned through their hard invested money on whimsical expenses, such as private jet travel? Surely he's been called to account ?
Any more info on this, or links? I can see someone heading a new company flying to meet investors to pitch to them, but do it on commercial flights to keep costs down. Using his own plane might be time-effective, but charging those excessive costs to the fledging company for private jet travel (even if he owns it) is not. Even Bill Gates was flying commercial after Microsoft was solidly in the black back in the 1980s.
@@crosslink1493 Solera holdings which tony CEO owns has several sub companies (usually software). CEO tony would bill Canoo with all sort of things that doesn't ad value to the company. These are creative ways for someone to legally steal investor's money. Google it: "Solera holdings." It's a big con job.
How does you equate an insurance adjuster to conning investors? Ridiculous statement! I don't know of anybody who "invested" in a claims adjuster!.....even an independent one like I was for 40 years during which time my clients, the insurers who hired me, never once, not once, asked/ordered me to "con" one of their insureds. Can't say the same for some insureds who did.
@@nickcrncich7255, No offense to insurance adjusters, but you actually need an engineer with good business sense to lead a successful EV startup. Tony is not an engineer like Elon Musk or RJ Scaringe of Rivian. Tony was a high school drop out who started out as an insurance adjuster. If Tony Aquila spending half of Canoo's revenue on private jet travel, doesn't turn you off, maybe Tony fleece investors using overpriced software subscription from Solera Holdings which he also owns will. Seems like a legal way of stealing naive investors money. BTW, its very easy to make prototypes. We see that in car shows every year. What is very difficult is to manufacture an efficient EV at scale. So, don't get too impressed with a few prototypes. Nothing adds up in this start up. Tony shows factory robots in his PR videos, while at the same time says that they will only manufacture at very low volume. If you think its a good idea for your barber to do your appendectomy instead of a medical board certified surgeon, then go ahead and invest your life saving into Canoo.
Canoo spent only 1.7 million on private jet which was double 2023s revenue because they hardly made any in that year, its not a terrible sounding investment
Forgive me if I simply have serious questions about any EV manufacturer HQ'd in Oklahoma.
True, that is a question I had, too. While facilities/labor may be cheaper in OK, what about getting parts from far-off suppliers? Shipping delays, poor quality parts problems (look at Boeing's "MAX" fiasco). I'd rather be within 1-2 hours of my suppliers.
Mr. CEO probably forgot that Tesla's initial growth was fueled by subsidies across the globe.
Really wish that Canoo would have a 300 mile ranged vehicle… would love to have a few in my Pest Control Fleet…
My guess is that a large percentage of your vehicles don't travel 300 miles a day.
As an investor, after hearing the CEO spending more cash on private jet rentals than the company made in 2023, I think they need to start ramping up and getting orders delivered. I don't understand why they are wasting money in the UK when they have plenty of orders to keep them going for years in the USA. Expanding to the UK is just going to cost more money than they need to be spending on production equipment and raw materials in OKC.
Awesome vehicle.
Since they said they are for commercial and NOT for consumer, I just canceled my deposits for two vehicles. You lost me Canoo!
Agreed. We wanted one too, but the company executives sound clueless and Musky, if I dare say so.
The company is headquartered in California, but does other stuff in Michigan, Texas, Oklahoma, and Arkansas apparently. It doesn't seem very efficient for a small, struggling start-up to be spread out all over the country like that. I hope they can survive.
They are Headquartered in Texas.
@@kb6241 See, that's what I'm talking about. Wikipedia says they are headquartered in Torrance, California. They were going to move their HQ to Texas (is that a done deal?), but then they were also going to move it to Bentonville, Arkansas. And I have read that they have other various facilities in other cities and states. It doesn't seem like a very good way for a small start-up to organize itself, if for no other reasons, the communication, transportation and shipping costs involved in being that spread out. It's probably because they are trying to win government and defense contracts. In that case, it may help to get approval for funds if you are spread over as many states as possible.
Cool! Building 100 a week starting in June 2024?
Need to announce a major investment by Wal-Mart to keep operations moving. In the meantime Ford and Rivian are starting to ramp up Van production and Ford already has a US Postal Service contract.
I hope Tony is not burning through cash unwisely.
The vehicle is a surefire thing and there's lots of potential.
When they will sell more than 20,000, then tell me more about Canoos.
I thought we were supposed to be at build rate 20K this year and 40K next year.
good❤
This company has so much potential if only they could step up their production. What’s going to happen is VW buzz, and offerings from Toyota (they have a product similar to this) will reach the market competing in the EV van space….RIVN is already flooding fleet applications. 5k-15k vehicle contract with big box (Walmart, target etc) should already be locked in
I still think the best thing for Canoo would be bankruptcy followed by assets being acquired by a responsible party. I think they have a competitive product, if it could be mass produced by someone?
Don’t think we’re at a 20000 rate of build. On the positive side they have been acquiring production equipment.
I want Canoo to succeed, but what's your take on Aquila's mil spent on private jets at this stage
I love these cars and as soon as it seems likely that they’ll survive I might even preorder one 🤞🤞🤞
Me also. Wheater or not its a scam i will leave my 500dollers imvested lol even though im 170 down after the earnongs call the design and concept is great
My household owns 4 very well kept Honda products from 4 to 30 years old. We don't need to worry about buying another car. So that money goes into Canoo stock. Here's the buzz: Canoo and Arrival were my investment choices. Arrival went belly up and Canoo grabbed manufacturing Robots and the like for fire sale prices. In fact these two manufacturers based their vision and plans on New Paradigm Technology. A comfortable well appointed personal luxury model will be very much like a unit built for plumbing or HVAC companies.
I hope to have 5000 - 7000 shares by year end. This is not about enthusiasm; this is a bout monitoring the sobriety the whole operation in building a path dictated by the demands of future transportation needs. It worked for Henry Ford 100+ years ago. Big investors want a piece of this; don't allow speculators and day traders cloud your perspective.
The CEO is spending your investment on jet travel.
According to MGUY, Tony Aqulia spent TWICE the company's revenue on his private jet.
= dont invest
I love their designs. But the cash burn is the issue. I put their chance of success at twice that of Aptera.
Twice zero is still zero.
I think they’re pretty much done and the CEO may be siphoning off cash……..
CEO of struggling EV startup SPENDS DOUBLE its revenue on PRIVATE JET!!
They seem to be a much more responsible company than their peers.
I sure hope they survive where others have failed because they make compelling vehicles.
Reports are coming out that the ceo is siphoning money
Too bad
I like tier cars
Responsible? Spending twice as much money as they make on private jets for the CEO 😂😂😂😂😂😂
Were you awarded stocks for this comment or.....???
@@brotherowl
Nope, although that would be interesting!
BOM for ev less but supply chain spread deals costly and time-sucking slows scale-up.
My guess is , we will never see it on the road.
I own Canoo stocks. There has been a big drop in their share value since about a year ago (when I bought them). I see the slander articles about Canoo CEO spending half of their revenue on a personal jet. Makes it sound like he has just been partying all the time to us 'non-private-jet' users. But I can understand a world where a private jet gets you to making that deal faster (whether it is sales deal or purchase deal).
.
One way or the other Canoo faces the same issue as Tesla - a slew of negativity and myth around EVs from established media companies funded by legacy auto. EVs are obviously the future that is going to happen (just look at Finalnd) ... and I'm betting on that.
Stockholm Syndrom. Canoo has lost you a whole bunch of money, and you still defend them.
I’d think hard about whether to hold on or dump that stock. All EV companies are struggling (Tesla’s dropped 20% this year already), but something really not going right at Canoo when CEO spends more money than he’s actually made on private jets….. 🤑🤔
@@cp4512 You know that Tesla has given more money to Elon in the form of stock bonuses than they have made in revenue since founding? Or at least that was true before the share price collapsed. Not sure if it still is.
Watch MGUY much?
Love this truck/van concept and hope the company makes it! It's a charming, practical counterpoint to that gawky rolling stainless steel batt signal for assholes, and the other hulking mass trucks Americans use overwhelmingly just for suburban big-box shopping.
What a bunch of crap 😂
love them
It's too bad that such an aesthetically pleasing and cool design line has to be first of all EV, and second of all, the property of a staggeringly mismanaged company.
🤔
Very soon bankruptcy file news
Moved my investment to Shiba Inu
Tony Aquila seems to be out of his depth and full of crap.. sad because I really want to see these on the road. His business model isn’t a business model if you don’t sell anything at all.
THIS IS A GRIFT.
The ship is sinking.
maybe elon will buy canoo an fix it
Like he fixed Twitter?
@@tettazwo9865 ya just like that,, corruption at canoo is 50% of the problem
Canoo’s electric go bankrupt this year🙃
Didn't the founder and CFO jump ship? This company out of business in 2 years.
Canoo remains a revolutionary car👏👍. This car is a Tesla killer.
All I know is it's been on reg sho for a month and the borrow rate is over 350%. Leaps>shares
Bankrupt soon.. 😢
Lie, Lie, Lie
yep
Nah. I’ve got inside info. It’s legit. He’s making cars. Slowly, but they are.
Sooo many people lost money with this. Stay away, my opinion.
I wish Canoo the best of luck, but it looks to me like a dead horse.
Knucklehead
Anyone who buys an EV at this point is just dumb
ca-new ca-nerdy ca-car
Another failure, plant will never be finished