Canoo (US:GOEV) Globenewswireยท2024-12-18 21:26Core Viewpoint - Canoo Inc. has announced the furlough of 82 employees and idling of its factories in Oklahoma while seeking necessary capital to continue operations [1][2]. Company Overview - Canoo Inc. is an automotive tech company founded in 2017, specializing in manufacturing electric cargo vehicles for commercial, government, and fleet customers globally [2]. - The company utilizes a common modular platform with steer-by-wire technology and end-to-end software and power solutions, designed to maximize vehicle interior space and support various applications [2]. Current Situation - The company is in advanced discussions with various capital sources to secure funding [2]. - Canoo expressed regret over the furloughs, particularly during the holiday season, but emphasized the necessity of this action [2].