@@hedleypepper1838 it’s true. Look it up on Google. “Canoo private jet”. Canoo’s CEO spent more than twice of Canoo’s 2023 total earnings on a private jet. Tony Aquila is not a good man.
My understanding was that the Canoo CEO owned his own jet and leased it to Canoo. It may not be as bad as having Canoo buy him a private jet, but it's pretty sketchy behavior. I would honestly expect the CEO of a startup to be very tight with the company's money and, if he has to fly for business purposes, I'd expect him to fly commercial, possibly coach class.
Great insight. I hate seeing Canoo leaving the stage. But you are so right that the differentiation was stylistic and not ground breaking. I would have loved to see canoo on the streets, the future would look like the future. And i hate seeing the CEO buying a private jet, he saw the editing on the wall and wanted something out of it, rather than walk away with nothing. He served himself rather than the company. I agree, focus on your core to get to production, rhen see where you can branch out. I love seeing that aptera is selling its technology, that should be a huge advantage. Thank you again for the great content!
@@JacksonWalter735 He is tech focused not on financial or manufacturing prowess. Aptera has Sandy Munro for their financial and manufacturing prowess. Google him.
Canoo should sell company to Honda & Nissan since they're planning on merging. It should help them have a dedicated EV lineup along with Nissans Leaf, Ariya & Hondas (GM) Prologue
The problem for me with these vehicles is that it looks like a VW bus so you think you sit way forward over the wheels which would give you all this space on the inside but then you realize that the front is just wasted space and sit no more forward than a regular designed car. There was no point of that bubble front.
Back when trains were new, a lot of investors were scammed out of money by charlatans selling plans that resembled existing train operators, but having no intention to implement anything
I’m really crushed. 😢 I need a minivan for my electric wheelchair, and I had such high hopes that they’d get it together and make a real product that would help the disabled community.😖☹️
The massive advantage of a cab forward driving position is that you can fit so much more between the wheels. If you have ever lived in the city and worked in the trades where you had to have a truck, you would wish that you could have that cab and a half and a 6.5' bed in a vehicle with a shorter wheelbase than a single cab with a 5.5' bed. Easier to see, easier to maneuver. The problem is that they didn't build a truly basic range extended EV work truck
They didn’t fail because they delivered there product to early. They failed because they delivered their product too late and people aren’t as interested anymore. Aptera will face an even bigger challenge when cars without solar start delivering 400 and 500 miles range in the same price range. Aptera is now expected to be over $40,000 at lunch with no AWD. People will not choose an aptera over a Tesla with fsd and all the technology packed into it.
I like the vehicle design because it seems to maximize the interior space/exterior footprint metric. Most automakers seem to be trying to make the smallest car with the biggest footprint these days and I hate it.
@TecnamTwin i wouldn't invest in any of these new start-up companies. It's too risky for me. I am buying tesla stock. Other companies don't have an Elon.
i think that what could have been a standout differentiator of the canoo design is modularity. if they had gotten an actual consumer product to market in 2023 (not just one or two fleet vehicles), one that could have been built upon by the consumers (at the consumer level); that would have been a stand-out feature that could have kept them going. no other design of electric vehicle out there has the versatility of use-case through consumer configurability. if they had leaned intot hat and stayed focused on getting a basic chassis and one or two basic configurations to market.. it could have worked.
I dont agree... the shape of canoo was crazy good selling point. Same as for ID.buzz. EV people start to understand that you no longer need the hood to store V6, and you can use the space in a different way.
4:50 I have Tello Mobile service and thought you were referring to them but then learned Telo Trucks is your company! Best of luck & success to you guys!
I agree. 1. The Why: There was not a clear vision or mission for the product. Like, why purchase a Canoo vehicle versus another product? 2. The What and How: There was not a clear strategy of what needed to be done and how it would be done. 3. The Who: The leader clearly was out for self gain and not provide a product or service. We all work for money but that has to be secondary to the purpose. Otherwise, we would be robbing each other which is what he did to his investors and company. You first have to seek a problem to solve, solve it, and seek remunerations.
GM should consider purchasing Canoo. They have nothing to lose, given that $35 billion has already been squandered during Mary Barra's tenure. Canoo's design could be adapted to revive the 1973 GMC motorhome, as it bears a resemblance and was a huge success.
@@codycast Canoo's assets, including patents for their electric vehicle platform, battery enclosure, seating systems, fractional slot electric motors, impact features, proximity detection, and reconfigurable vehicle bumper ends, are valuable. Canoo holds a total of 101 patents. The liquidation price for the acquisition is expected to be significantly lower than the original investment.
I agree that this sounds like a good idea, however it'll never happen. GM has put a ton of money into their own skateboard and battery design. They're not happy with either which is why it's highly unlikely that they'll junk it all to try another untested design from a company that's already failed. They're most likely to look around for a more proven drive train manufacture who they can partner with.
All of what you said, and also this: The designers were given TOO MUCH free reign in some key areas. They were trying to create an ideal delivery van, but they had exclusively haptic controls, including on the steering wheel itself. Same mistake VW is making right now with the ID Buzz. The AC system would produce cool air but never blow on the occupants. I guarantee the first purchase of any driver in this van would be a USB fan to blow air on them. They clearly were not thinking of the end users so much as their own design ideas. I am sad to see them go. I am a handyman and would LOVE to have had this as a work truck.
NO , I disagree. The Canoo wasnt just "another vehicle". It had the potential to be the VW Combi of the 2020's, for big family's, stealth campers, young surfers, and a whole slew of non-conformist opportunities. I would bet Canoo gets bought out by someone with the vision, but better management skills.
As a product developer I can say that going from a good prototype to manufacturing is about 80% of the whole problem. No video I ever saw from canoo led me to believe they had anybody onboard with a true glimpse of what that takes or the ironclad will to make it happen. Hopefully someone else will build off their ideas.
@8:15 Actually, the cab forward, high viz, novel packaging (of cabin and bed for the pickup) was exactly why I had interest in it over other EVs. Starting with a skateboard platform, heavily developed, and a completely electrical (and thus easy to reposition) control group meant they had a lot of directions they could go and I think they took them in well chosen directions. I don't drive 75 on the highway often so not having a .26 cd was less of a factor. You have to admit, the flexible truck bed design was really, really good. I think the engineering had a lot of promise. The people that worked on the design should have a good resume to take to other companies. I think the product was good but it's always a risky market to try and enter and the management put in place just got worse and worse over iterations. Those people *should* have trouble getting employed by boards in the future but we all know that's not how that gang rolls..
The unique feature was the common "skateboard" platform that enables them to create many body styles with minimal effort. The thing I didn't like was all the wasted space in front of the driver.
I see this Canoo car/van years ago and though that's too weird, no one will buy that then the Cybertruck cam out lol, I had hope for them then so this is sad news to be honest. But so glad I never bought shares in any other car company than Tesla.
Most ev companies will go bankrupt. Current ev technology is lacking and will find it difficult to compete with incentives gone. With out the heavy hand of government subsidies and regulations they will struggle more.
That’s a side effect but not the intent from the beginning. The design was originally made as an answer to how to make the most efficient vehicle possible
100% agree on delivering too soon. A late good product is always more successful than a rushed incomplete one. Tesla is almost always late and they are doing great.
Your observations about startups chasing too many business models and sales channels are a huge warning signs for investors. Many don't have the bandwith and sophistications to manager diverse requiements of each option.
OK! we are down to two 'players' in the EV start up field--Aptera & Telo. Aptera has a financial year to live, UNLESS they find big money. I am unsure of Telos funding systems, but they SEEM to be in the same 'slot' as Aptera, This sort of business failure goes WAY BACK in automotive history. The Dodge Bros. made cars in the 1920s. They failed and we now see Dodge as part of Stellantis. Time will give us an answer.
Sorry about so many comments. Nothing for me beats "up to" 40 miles a day of free driving. Any feature of any electric car pales in comparrison. Aptera charging off standard 110 wall sockets is so appealing as well. I wouldn't mind the test vehicle bare bones non-design just need heating and cooling and airbags just the standard saftey stuff. I dont care about glitz and glam. Good solid transportation is what I want.
Fiskers problem was they rushed the vehicle to production before finalizing the soft ware. The vehicle is actually pretty good once it is updated to software 2.2 (from 1.0 release..) and they built 10k of them. But it is too late now... Don't rush an unfinished vehicle to production. The bad reviews will kill the company. Hopefully Aptera will learn from this.
@@Drewcardello can you remind me numbers on sales on mini EV or station wagon in the US? in 2019 nobody wanted to buy a small EV because 1) they wanted SUV 2) small car equals small battery, so small range, and without infrastructure that means you have overpriced schoolrunner car. You can design small EVs in 2025 when infrastructure is much better, you have new battery and motors tech, and people no longer has range anxiety. In Europe Ocean was looking super cheap made compared to anything else, yes, range was great (in theory at least) but software was terrible, and every single feature was 'it will be available later via OTA', gods... even volkswager had a better start with ID.4
@@michalklucz6907 no station wagons or mini evs were sold because nobody is making them. A small EV wagon/compact pickup with 200 miles of range would sell if it wasn't an overpriced 35k Fiat or a tacky-tesla. The reason evs are struggling is because they are ALL blobby-crossovers for too much money. That's why the Proluge is selling so well it has an nice boxy design, sharp edges, old school button controls, nearly 300 mile range and costs less than 2/3 the Fisker cost while not being stupidly large. I say that's closer to station wagon than the CRV.
@ renault 5, citroen eC3, hyundai inster, mini cooper, byd dolphin… they are making them now because we finally have a tech to fit battery dense enough to give you some range. Todays’ phevs have batteries bigger than first leaf.
Yes! I was waiting for an answer to Marques Brownlees Ranking🥳 (he even forgot about Tela🤨) I wonder if Steve from Aptera Owners Club will make a video about Marques Ranking
Your 3 main reasons for Canoo’s demise seem spot on. I wonder if a super whale investor (cough, Saudia Arabia, cough, Lucid; or Elon cough Tesla) would have saved them or would the poor business practices you mention have sunk them regardless?
My thoughts are that Canoo would specialize in the self-driving taxi service space producing income through an Uber style app, continuing to produce vehicles to that purpose beginning with 4-5 vehicles in every large city then producing more vehicles as demand grows
The VW Combi, some of the older British, and indeed, Japanese vans were forward cab designs. However, in Europe at least, these were outlawed due to safety concerns. I can't speak for the US.
Very good synopsis and accurate reasoning. I do think Aptera and TELO are watching the space carefully, and frankly, it must appear daunting. As much as I love both vehicles, it's likely they'll remain niche compared to vehicles from multi-billion dollar automakers. We love the unusual and unique... most people don't. Average buyers want reliability, security and brand trust. Early adopters don't care. They want the innovation, the design, the courageous thinking. But once early adopters are fulfilled, is that enough to sustain a business? Is the fate of niche-level startup companies to shine brightly for a moment only to fade when reality sets in? Or will the buying public open their eyes? History isn't kind in this regard, but perhaps they can buck the norm.
Contract manufacturing (Asset Light) also has its challenges. Partner/vendors go bankrupt, get bought out, OR find a better deal with another company leaving management always looking over their shoulders on when the next shoe drops.
If Canoo focused on production, they would have taken off. They had: - NASA Contract valued at $147,855 - U.S. Army Contract - U.S. Department of Defense Contract for supplying battery modules for analysis, demonstration, and advanced testing - Oklahoma State Contract for 1,000 electric vehicles, potentially worth millions, with pricing set between $35,000 to $50,000 per vehicle - Prime Time Shuttle Contract for 550 electric vehicles - Walmart Contract for 4,500 EVs, with an option for up to 5,500 more, in exchange for exercisable warrant shares totaling 20% of Canoo - Kingbee Rentals Contract for 9,300 light-duty vehicles - United States Postal Service (USPS) Contract for six right-hand drive Lifestyle Delivery Vehicle 190s, expected in Q1 2024 - Saudi Arabia Contract with Jazeera Paints for 20 electric vehicles initially, with options for up to 180 more They could've been big.
Canoo should of focused on the van only as there wasn't a competitive EV van segment. When they showed off the pickup, and then the commercial work vans, I suspected they weren't going to build it but just keep showing concepts. I, too, liked Canoo's idea bring your own screen, as that means the tech wouldn't be obsolete.
During the bankruptcy auction of another failed EV delivery truck manufacturer, Arrival, I saw that Canoo had spent a significant amount on the robot assembly arms left behind by Arrival. Dozens of vehicle-sized robot arms? At secondhand prices? What a deal! Alas.
Sorry new to the channel but confused why you have so much confidence in aptera. I work in the industry with alot ex aptera and Canoo (and faraday and Nikola) coworkers and both companies have seemed like vaporware circling the drain internally for a long time.
5:45 Wait-wait-wait-wait, why do you say there was nothing but the look? Didn't they have everything-by-wire modular platform, and that's what enabled them to have that see-through front with no steering column blocking the way, and all the form-factors like pick-up and everything built on the same chassis?
Perhaps Fisker and Canoo announcing additional concept models bring in more investments? Could be profitable if those investments are higher than the cost of making concept models. Thoughts? Does anyone have experience of this or against this theory?
I remember years ago seeing videos about the truck and being able to put down a reservation. Probably should've taken it as a bad omen when I go to the site and the only vehicle available to reserve was the van. I got that refunded sometime before Tony got himself a private jet.
Sooner or later all EV manufacturers will throw the towel in. It's only China and its EV manufacturers that will survive. There is a huge competition amongst the Chinese EV manufacturers in China. Only the fittest, most innovative and efficient will survive. And the ones that do survive, will have no problem conquering the world EV market. I personally welcome their arrival in my country. I consider it a win/win
The name alone did them in. It’s like the bumper sticker that says “ Cool Prius said no one.” Oh, you’ve got a Canoe? Really, does it fit on top of your car ? Can I borrow a paddle?
I was wondering what Canoo was doing. Like their vehicle designs looked interesting, but I wasn't really sure what they're doing. They kept saying they wanted to make a cargo vehicle but I didn't really hear anyone making deals with them like Rivian and Amazon.
I think their minibus and/or van design had huge value. To me, it makes no sense for EVs to have frunks when they no longer have engines up front. So, eliminating frunks and maximizing the interior opens up a many opportunities not being addressed by Tesla or Rivian right now. Granted, the aerodynamics could have been improved though.
I wish Aptera would have bought canoo. I was watching canoo and Aptera for years and decided to go with Aptera for investments. I’m glad I chose what I did so far. Apples electric cars are going to be very popular. Good looking cars too.
I converted a ‘61 Sunbeam to EV and don’t use Speedo or any gauges. Don’t miss them. Sure, I have tp use laptop to keep track of when to charge. But that’s it.😊
There's an obvious market niche, same as the Telo - there's nothing else on the market in that niche. I need/want a minivan for 5 person seating and/or some cargo. The only e-vans on the market are the eTransit and eSprinter, and those are both fleet vehicles not consumer vehicles. CUVs don't cut it. The Telo is nice, but not large enough. The CT and Lightning are more truck than I need. So now.. back to waiting for an EV that actually fits my usage needs.
@@lsh3rd read the other comments. It was a well liked design by many. I think it resembled the old VW microbus from the side. Telo could easily adapt their mini-truck to a similar vehicle though without buying anything, so point taken.
the only good thing is they were unibody most all the different models used the same base. but you have to get one product off the line before you start worrying about everything else
30 or so years ago when Ford Australia decided to put a new design Ford Falcon sedan and wagon on the market well that cost Ford just over 600 million but that's from design to first model off the factory floor, they already had the existing assembly line and factory. Do to have Canoo doo what they were doing i think they maybe under capitalised.
The CEO got confused between Business- Plan and Plane. The board wanted a business plan but the CEO bought a business plane.
Lol, what's one letter and $ multi millions between friends?
Is this factual ??
@@hedleypepper1838 'course not, it's just a funny joke
Quick gratification...
@@hedleypepper1838 it’s true. Look it up on Google. “Canoo private jet”. Canoo’s CEO spent more than twice of Canoo’s 2023 total earnings on a private jet. Tony Aquila is not a good man.
My understanding was that the Canoo CEO owned his own jet and leased it to Canoo. It may not be as bad as having Canoo buy him a private jet, but it's pretty sketchy behavior. I would honestly expect the CEO of a startup to be very tight with the company's money and, if he has to fly for business purposes, I'd expect him to fly commercial, possibly coach class.
I hope someone buys their design, especially their van/pickup truck.
Ford maybe. They want to make a new EV truck eventually
Shame, I like their design
Great insight. I hate seeing Canoo leaving the stage. But you are so right that the differentiation was stylistic and not ground breaking. I would have loved to see canoo on the streets, the future would look like the future. And i hate seeing the CEO buying a private jet, he saw the editing on the wall and wanted something out of it, rather than walk away with nothing. He served himself rather than the company. I agree, focus on your core to get to production, rhen see where you can branch out. I love seeing that aptera is selling its technology, that should be a huge advantage. Thank you again for the great content!
Silver lining for Canoo: Marques Brownlee ranked them several tiers higher than Aptera !
It was a design
MKBHD is a technology and software guy. His expertise doesn't extend to the automotive industry.
Aren't we all?
@@TecnamTwinhave you seen his auto focus channel?!?!
@@JacksonWalter735 He is tech focused not on financial or manufacturing prowess. Aptera has Sandy Munro for their financial and manufacturing prowess. Google him.
The Canoo could have pushed just the van and got a niche to dig in with.
Canoo should sell company to Honda & Nissan since they're planning on merging. It should help them have a dedicated EV lineup along with Nissans Leaf, Ariya & Hondas (GM) Prologue
This earned my subscription. It's too rare for people to put the finger where it hurts, but it's so necessary. Thank you.
Kia is already releasing "Canoo" this year. Kia PV5 and PV7
The problem for me with these vehicles is that it looks like a VW bus so you think you sit way forward over the wheels which would give you all this space on the inside but then you realize that the front is just wasted space and sit no more forward than a regular designed car. There was no point of that bubble front.
Once the CEO purchased that plane he crossed over from a simple failure to a petty thief. Expect law suits to follow.
⚠️ Next bankruptcy :
Scam compagny Nikola Motor 😂
Back when trains were new, a lot of investors were scammed out of money by charlatans selling plans that resembled existing train operators, but having no intention to implement anything
I’m really crushed. 😢 I need a minivan for my electric wheelchair, and I had such high hopes that they’d get it together and make a real product that would help the disabled community.😖☹️
I loved the concepts!!
The massive advantage of a cab forward driving position is that you can fit so much more between the wheels. If you have ever lived in the city and worked in the trades where you had to have a truck, you would wish that you could have that cab and a half and a 6.5' bed in a vehicle with a shorter wheelbase than a single cab with a 5.5' bed. Easier to see, easier to maneuver. The problem is that they didn't build a truly basic range extended EV work truck
They didn’t fail because they delivered there product to early. They failed because they delivered their product too late and people aren’t as interested anymore. Aptera will face an even bigger challenge when cars without solar start delivering 400 and 500 miles range in the same price range. Aptera is now expected to be over $40,000 at lunch with no AWD. People will not choose an aptera over a Tesla with fsd and all the technology packed into it.
I like the vehicle design because it seems to maximize the interior space/exterior footprint metric. Most automakers seem to be trying to make the smallest car with the biggest footprint these days and I hate it.
It was not a bad idea. This is a tough business.
It's called a scam riding the money train
What a bummer. I'm an Okie and was really pulling for them.
The Bulldog pickup looked great! If they’d just focused on one skateboard chassis and battery, they could have sold a decent, small pickup and van!
Damn. Bad management. The CEO rather have a plane than save the company. They are very unique. It attracted a lot of buyers.
Not enough buyers to make it worth it for investors
@TecnamTwin i wouldn't invest in any of these new start-up companies. It's too risky for me. I am buying tesla stock. Other companies don't have an Elon.
@TecnamTwin they had a lot of orders. They just didn't make any vehicle.
@@victic2277 they need billions to build a factory to fulfill those orders. they spent years doing everything except building a factory.
@@victic2277thats a plus 😂
i think that what could have been a standout differentiator of the canoo design is modularity. if they had gotten an actual consumer product to market in 2023 (not just one or two fleet vehicles), one that could have been built upon by the consumers (at the consumer level); that would have been a stand-out feature that could have kept them going. no other design of electric vehicle out there has the versatility of use-case through consumer configurability. if they had leaned intot hat and stayed focused on getting a basic chassis and one or two basic configurations to market.. it could have worked.
I liked how the Canoo truck had a bed that extends and retracts. Telo should borrow this idea!
I dont agree... the shape of canoo was crazy good selling point. Same as for ID.buzz. EV people start to understand that you no longer need the hood to store V6, and you can use the space in a different way.
Aptera and Telo are next. They’re basically novelty vehicles that no one is going to buy.
4:50 I have Tello Mobile service and thought you were referring to them but then learned Telo Trucks is your company! Best of luck & success to you guys!
I agree.
1. The Why: There was not a clear vision or mission for the product. Like, why purchase a Canoo vehicle versus another product?
2. The What and How: There was not a clear strategy of what needed to be done and how it would be done.
3. The Who: The leader clearly was out for self gain and not provide a product or service. We all work for money but that has to be secondary to the purpose. Otherwise, we would be robbing each other which is what he did to his investors and company. You first have to seek a problem to solve, solve it, and seek remunerations.
The "why" is usually "because I want to live off of the investors money for as long as I can"...
GM should consider purchasing Canoo. They have nothing to lose, given that $35 billion has already been squandered during Mary Barra's tenure. Canoo's design could be adapted to revive the 1973 GMC motorhome, as it bears a resemblance and was a huge success.
What do they get for buying them.
@@codycast Canoo's assets, including patents for their electric vehicle platform, battery enclosure, seating systems, fractional slot electric motors, impact features, proximity detection, and reconfigurable vehicle bumper ends, are valuable. Canoo holds a total of 101 patents. The liquidation price for the acquisition is expected to be significantly lower than the original investment.
I hope GM listens and does this
@@yunseosextras That will be GM's best decision in 51 years.
I agree that this sounds like a good idea, however it'll never happen. GM has put a ton of money into their own skateboard and battery design. They're not happy with either which is why it's highly unlikely that they'll junk it all to try another untested design from a company that's already failed. They're most likely to look around for a more proven drive train manufacture who they can partner with.
All of what you said, and also this: The designers were given TOO MUCH free reign in some key areas. They were trying to create an ideal delivery van, but they had exclusively haptic controls, including on the steering wheel itself. Same mistake VW is making right now with the ID Buzz. The AC system would produce cool air but never blow on the occupants. I guarantee the first purchase of any driver in this van would be a USB fan to blow air on them. They clearly were not thinking of the end users so much as their own design ideas. I am sad to see them go. I am a handyman and would LOVE to have had this as a work truck.
NO , I disagree. The Canoo wasnt just "another vehicle". It had the potential to be the VW Combi of the 2020's, for big family's, stealth campers, young surfers, and a whole slew of non-conformist opportunities. I would bet Canoo gets bought out by someone with the vision, but better management skills.
Hope you're right
💯
As a product developer I can say that going from a good prototype to manufacturing is about 80% of the whole problem. No video I ever saw from canoo led me to believe they had anybody onboard with a true glimpse of what that takes or the ironclad will to make it happen. Hopefully someone else will build off their ideas.
@8:15 Actually, the cab forward, high viz, novel packaging (of cabin and bed for the pickup) was exactly why I had interest in it over other EVs. Starting with a skateboard platform, heavily developed, and a completely electrical (and thus easy to reposition) control group meant they had a lot of directions they could go and I think they took them in well chosen directions. I don't drive 75 on the highway often so not having a .26 cd was less of a factor. You have to admit, the flexible truck bed design was really, really good.
I think the engineering had a lot of promise. The people that worked on the design should have a good resume to take to other companies. I think the product was good but it's always a risky market to try and enter and the management put in place just got worse and worse over iterations. Those people *should* have trouble getting employed by boards in the future but we all know that's not how that gang rolls..
Haha, i was counting the seconds until you would do a plug for Aptera! 😁👍
The seat layout was the main thing that pulled me in!
Problem was they were named after a boat.
Thanks for the info! I'm building an automotive company too so it's good to see what people are up to!
The unique feature was the common "skateboard" platform that enables them to create many body styles with minimal effort. The thing I didn't like was all the wasted space in front of the driver.
Not sure what’s unique about this. Nearly every EV company has a skateboard platform
I see this Canoo car/van years ago and though that's too weird, no one will buy that then the Cybertruck cam out lol, I had hope for them then so this is sad news to be honest. But so glad I never bought shares in any other car company than Tesla.
Most ev companies will go bankrupt. Current ev technology is lacking and will find it difficult to compete with incentives gone. With out the heavy hand of government subsidies and regulations they will struggle more.
My favorite design! Not just EV. Uggh!
The Aptera is actually designed as a three wheeler to dodge the 4 wheeled car regulations.
That’s a side effect but not the intent from the beginning. The design was originally made as an answer to how to make the most efficient vehicle possible
100% agree on delivering too soon. A late good product is always more successful than a rushed incomplete one. Tesla is almost always late and they are doing great.
Tesla is in trouble, too.
@@jailbird1133it’s the most valuable car company in the world…. They are doing fine.
Not accordingly to their SEC filings.
How many models did Henry Ford start with… Any color you want as long as it’s black.
And you wanted anti-Semitic literature that influenced the Nazis.
Great video explanation, patiently waiting for Telo
I wanted a Canoo Coffee shop so bad, And a tall electric van.
Thanks for this update. RIP Canoo.
Your observations about startups chasing too many business models and sales channels are a huge warning signs for investors. Many don't have the bandwith and sophistications to manager diverse requiements of each option.
3:39 The MPDV mobile storefront / food truck idea seemed quite cool
OK! we are down to two 'players' in the EV start up field--Aptera & Telo. Aptera has a financial year to live, UNLESS they find big money. I am unsure of Telos funding systems, but they SEEM to be in the same 'slot' as Aptera, This sort of business failure goes WAY BACK in automotive history. The Dodge Bros. made cars in the 1920s. They failed and we now see Dodge as part of Stellantis. Time will give us an answer.
The pivot for Aptera the first time to a four wheel vehicle is what ended them. I’m glad they’re back as a solar transport.
They were always 3 wheels but they were gas before
@ I’m referring to when the government denied their loan and was going to pivot to a sedan.
I see comments all the time about the importance of deliveries sooner. I think this proves getting it right first is more important!
Sorry about so many comments. Nothing for me beats "up to" 40 miles a day of free driving. Any feature of any electric car pales in comparrison. Aptera charging off standard 110 wall sockets is so appealing as well. I wouldn't mind the test vehicle bare bones non-design just need heating and cooling and airbags just the standard saftey stuff. I dont care about glitz and glam. Good solid transportation is what I want.
I was rooting for Canoo, it’s just a shame.
Fiskers problem was they rushed the vehicle to production before finalizing the soft ware. The vehicle is actually pretty good once it is updated to software 2.2 (from 1.0 release..) and they built 10k of them. But it is too late now... Don't rush an unfinished vehicle to production. The bad reviews will kill the company. Hopefully Aptera will learn from this.
Fisker would have survived it was a budget vehicle (like a mini or station wagon) instead of another overpriced crossover.
@@Drewcardello can you remind me numbers on sales on mini EV or station wagon in the US? in 2019 nobody wanted to buy a small EV because 1) they wanted SUV 2) small car equals small battery, so small range, and without infrastructure that means you have overpriced schoolrunner car. You can design small EVs in 2025 when infrastructure is much better, you have new battery and motors tech, and people no longer has range anxiety. In Europe Ocean was looking super cheap made compared to anything else, yes, range was great (in theory at least) but software was terrible, and every single feature was 'it will be available later via OTA', gods... even volkswager had a better start with ID.4
@@michalklucz6907 no station wagons or mini evs were sold because nobody is making them. A small EV wagon/compact pickup with 200 miles of range would sell if it wasn't an overpriced 35k Fiat or a tacky-tesla. The reason evs are struggling is because they are ALL blobby-crossovers for too much money. That's why the Proluge is selling so well it has an nice boxy design, sharp edges, old school button controls, nearly 300 mile range and costs less than 2/3 the Fisker cost while not being stupidly large. I say that's closer to station wagon than the CRV.
@ renault 5, citroen eC3, hyundai inster, mini cooper, byd dolphin… they are making them now because we finally have a tech to fit battery dense enough to give you some range. Todays’ phevs have batteries bigger than first leaf.
Yes! I was waiting for an answer to Marques Brownlees Ranking🥳 (he even forgot about Tela🤨) I wonder if Steve from Aptera Owners Club will make a video about Marques Ranking
Your 3 main reasons for Canoo’s demise seem spot on. I wonder if a super whale investor (cough, Saudia Arabia, cough, Lucid; or Elon cough Tesla) would have saved them or would the poor business practices you mention have sunk them regardless?
It was obvious Canoo wouldn’t make it…
Nice breakdown. Hope your fingers are OK
I have requested the return of my reservation deposit. I hope I get it back.
Another silver lining is that the end of Canoo leaves Telo more potential customers.
The Law of the Jungle, you know.
My thoughts are that Canoo would specialize in the self-driving taxi service space producing income through an Uber style app, continuing to produce vehicles to that purpose beginning with 4-5 vehicles in every large city then producing more vehicles as demand grows
The VW Combi, some of the older British, and indeed, Japanese vans were forward cab designs. However, in Europe at least, these were outlawed due to safety concerns. I can't speak for the US.
Bummer, i really liked their design and engineering...
Very good synopsis and accurate reasoning. I do think Aptera and TELO are watching the space carefully, and frankly, it must appear daunting. As much as I love both vehicles, it's likely they'll remain niche compared to vehicles from multi-billion dollar automakers. We love the unusual and unique... most people don't. Average buyers want reliability, security and brand trust. Early adopters don't care. They want the innovation, the design, the courageous thinking. But once early adopters are fulfilled, is that enough to sustain a business? Is the fate of niche-level startup companies to shine brightly for a moment only to fade when reality sets in? Or will the buying public open their eyes? History isn't kind in this regard, but perhaps they can buck the norm.
but i love their designs
I thought this thing would have made a wonderful “autonomous bus”. Like an extra large Waymo. Oh welll…
It was a longshot. They never got around to fixing the ability to build an assembly line. I did invest, but not too much.
Contract manufacturing (Asset Light) also has its challenges. Partner/vendors go bankrupt, get bought out, OR find a better deal with another company leaving management always looking over their shoulders on when the next shoe drops.
If Canoo focused on production, they would have taken off. They had:
- NASA Contract valued at $147,855
- U.S. Army Contract
- U.S. Department of Defense Contract for supplying battery modules for analysis, demonstration, and advanced testing
- Oklahoma State Contract for 1,000 electric vehicles, potentially worth millions, with pricing set between $35,000 to $50,000 per vehicle
- Prime Time Shuttle Contract for 550 electric vehicles
- Walmart Contract for 4,500 EVs, with an option for up to 5,500 more, in exchange for exercisable warrant shares totaling 20% of Canoo
- Kingbee Rentals Contract for 9,300 light-duty vehicles
- United States Postal Service (USPS) Contract for six right-hand drive Lifestyle Delivery Vehicle 190s, expected in Q1 2024
- Saudi Arabia Contract with Jazeera Paints for 20 electric vehicles initially, with options for up to 180 more
They could've been big.
A business needs sales. Seems that Canoo overlooked this.
Bummer! That was the coolest platform out there IMO!
Canoo should of focused on the van only as there wasn't a competitive EV van segment. When they showed off the pickup, and then the commercial work vans, I suspected they weren't going to build it but just keep showing concepts. I, too, liked Canoo's idea bring your own screen, as that means the tech wouldn't be obsolete.
Just another EV company that was good at taking investor’s money and declared bankruptcy.
I love the little window and left-hand screen, but Chinese vans' specs blow Canoo's out of the water, and they actually exist.
Plenty of people like me that would never buy a Chinese brand car/Rv
Problem is I’ve never even heard of them and I’m an EV fanboy.
IPO before established production usually ends in failure!
Listen carefully, Aptera is talking more that way now.
During the bankruptcy auction of another failed EV delivery truck manufacturer, Arrival, I saw that Canoo had spent a significant amount on the robot assembly arms left behind by Arrival. Dozens of vehicle-sized robot arms? At secondhand prices? What a deal!
Alas.
Sorry new to the channel but confused why you have so much confidence in aptera. I work in the industry with alot ex aptera and Canoo (and faraday and Nikola) coworkers and both companies have seemed like vaporware circling the drain internally for a long time.
Don’t worry guys MKBHD said it was above Aptera on the tier list
5:45 Wait-wait-wait-wait, why do you say there was nothing but the look? Didn't they have everything-by-wire modular platform, and that's what enabled them to have that see-through front with no steering column blocking the way, and all the form-factors like pick-up and everything built on the same chassis?
@1:21 I mean, who _CAN_KNEW_
I have only recommended two car Share investment lines being BYD and Rivian
Perhaps Fisker and Canoo announcing additional concept models bring in more investments? Could be profitable if those investments are higher than the cost of making concept models. Thoughts? Does anyone have experience of this or against this theory?
Difference is the started late and didnt get to suck down all those sweet sweet carbon credits to keep aflot like Tesla did 🤫🤫
I remember years ago seeing videos about the truck and being able to put down a reservation. Probably should've taken it as a bad omen when I go to the site and the only vehicle available to reserve was the van. I got that refunded sometime before Tony got himself a private jet.
Marques was wrong and we all knew it
Sooner or later all EV manufacturers will throw the towel in. It's only China and its EV manufacturers that will survive. There is a huge competition amongst the Chinese EV manufacturers in China. Only the fittest, most innovative and efficient will survive. And the ones that do survive, will have no problem conquering the world EV market. I personally welcome their arrival in my country. I consider it a win/win
The name alone did them in. It’s like the bumper sticker that says “ Cool Prius said no one.”
Oh, you’ve got a Canoe? Really, does it fit on top of your car ? Can I borrow a paddle?
So is there a fire sale. May pick one up. 😊
I was wondering what Canoo was doing. Like their vehicle designs looked interesting, but I wasn't really sure what they're doing. They kept saying they wanted to make a cargo vehicle but I didn't really hear anyone making deals with them like Rivian and Amazon.
I think their minibus and/or van design had huge value.
To me, it makes no sense for EVs to have frunks when they no longer have engines up front. So, eliminating frunks and maximizing the interior opens up a many opportunities not being addressed by Tesla or Rivian right now. Granted, the aerodynamics could have been improved though.
I guess I’m the only one that never heard of canoo
I wish Aptera would have bought canoo. I was watching canoo and Aptera for years and decided to go with Aptera for investments. I’m glad I chose what I did so far. Apples electric cars are going to be very popular. Good looking cars too.
Aptera has no capital for acquisition - and, more importantly, nothing to gain from buying Canoo.
@@noelhwang9359gotcha. That makes sense.
I converted a ‘61 Sunbeam to EV and don’t use Speedo or any gauges. Don’t miss them. Sure, I have tp use laptop to keep track of when to charge. But that’s it.😊
That's such a rare vehicle, why?
There's an obvious market niche, same as the Telo - there's nothing else on the market in that niche.
I need/want a minivan for 5 person seating and/or some cargo. The only e-vans on the market are the eTransit and eSprinter, and those are both fleet vehicles not consumer vehicles.
CUVs don't cut it. The Telo is nice, but not large enough. The CT and Lightning are more truck than I need.
So now.. back to waiting for an EV that actually fits my usage needs.
Telo will probably buy the scraps & rebrand it as Kyack
why would they want it?
@@lsh3rd read the other comments. It was a well liked design by many. I think it resembled the old VW microbus from the side. Telo could easily adapt their mini-truck to a similar vehicle though without buying anything, so point taken.
@@MarkSparks-xd9yy Telo needs to focus on their mission and avoid doing what Canoo did by trying to do too much.
Flaw number 4: Modelling their lifestyle vehicle after the Tartan Prancer from Vacation 2015.
Nailed it.
the only good thing is they were unibody most all the different models used the same base. but you have to get one product off the line before you start worrying about everything else
30 or so years ago when Ford Australia decided to put a new design Ford Falcon sedan and wagon on the market well that cost Ford just over 600 million but that's from design to first model off the factory floor, they already had the existing assembly line and factory.
Do to have Canoo doo what they were doing i think they maybe under capitalised.