Canoo Accelerates Production Plans, Wins $100 Million in New Incentives

Electric vehicle start-up Canoo Holdings (NASDAQ: GOEV) said in conjunction with its third-quarter earnings report on Monday that it is accelerating its manufacturing plan and now expects to begin building vehicles at a factory in Oklahoma before the fourth quarter of 2022.

Canoo reported a net loss of $80.9 million ($0.35 per share) for the third quarter, much of that attributable to research and development expenses and administrative spending. Wall Street analysts polled by Thomson Reuters had, on average, expected a larger loss of $0.44 per share.

The company had no revenue in the quarter, and none was expected.

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Source Fool.com