I didn’t realize that Canoo had filed for bankruptcy. I liked their approach to vehicle development. Their products were definitely different, but had a purpose to their design.
True, but there is an opportunity cost in axing affordable models in the pursuit of profit on a smaller number of vehicles. By doing so, they are not creating a pipeline of Ford loyal buyers. Instead, they are having to market more intensely to try and justify the increased prices. Do vehicles like the European Explorer and Capri really move the needle enough on this front?
So that puts the casualties among start ups who were eyeing the USA market as Lordstown, Cannoo, Poterra, Fisker, Nevs (SAAB) and Nikola.
Tesla is on top with Rivian and Lucid still in the fight.
Faraday Future is probably the next to die.
The two best selling segments in Europe are small and compact SUVs. Also 4 out of the top 6 segments. They’re moving to crossovers and away from cars just like North America.