GOEV - The EV Market Is Accelerating but Canoo Stock Could Be Left Behind
2023-04-17 10:59:33 ET
The electric vehicle (EV) market is speeding up quickly, thanks in part to recent investments by the U.S. government to move the industry along. The Biden administration has already invested billions of dollars into the EV sector, and the EPA recently proposed new tailpipe regulations that could accelerate EV adoption, resulting in 67% of all new vehicles sold in the U.S. being EVs by 2032.
This is certainly welcome news for EV start-ups, but not all will benefit equally. Canoo (NASDAQ: GOEV) , which is working on multiple EV models, has some grand plans for the EV market, but there are three reasons why this electric vehicle maker could miss out on the industry's growth over the next few years.
Image source: Canoo.
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The EV Market Is Accelerating, but Canoo Stock Could Be Left Behind