- In a previous article we have argued that Canoo’s differentiated go-to-market model would position it favorably in the EV space.
- Our financial projections focused on the contract engineering business, the subscription-model for its EV types, plus its commercial B2B segment.
- Canoo‘s management pulled most of the strategy and is deemphasizing its engineering and subscription offerings, which accounted for ~$2.5bn in projected revenues until 2026.
- Significant changes to its leadership team including the resignation of its former CEO, Ulrich Kranz, add to the uncertainty.
- We are reversing our initial positive view on the stock and have sold all our shares.
For further details see:
Canoo: Significant Changes In business Strategy Change Our View On The Stock