Canoo receives a lifeline from Walmart after relocating its headquarters to the retailer’s backyard
Canoo began in 2017 as Evelozcity, a California start-up, and soon after it was renamed Canoo in 2019, it revealed the VW-style microbus EVs it planned to make available via subscription. Since then, the company has lost a deal with Hyundai, lost executives, and not only missed out on a deal with Apple, but also lost its former CEO and co-founder to Apple. And today, Bloomberg reports that Canoo had a battery fire that set a company trailer on fire — the company’s second fire in a year. This company occasionally feels like it’s on fire, and not in a good way. With the latest cash from Walmart, perhaps it can put out some of those fires.