Could Canoo Really Become the Next Tesla?
(NASDAQ: TSLA) defied the odds and upended the auto sector, effectively proving that electric vehicles (EVs) were a viable product. Today, every major car company is working on EVs. But there are also a lot of upstart EV makers that want to follow in Tesla's tire tracks.
One of those startups is Canoo (NASDAQ: GOEV). How likely is this EV maker to succeed? The odds are against it and there are at least three reasons it probably won't.
At this point, Tesla has a whole lineup of autos to sell, from an SUV to a sedan, with a pickup truck in the works. It produced 440,000 vehicles in the first quarter of 2023, with deliveries of 422,000. While not exactly the largest automaker on the planet, it is clearly well-established.
Source Fool.com
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