A view shows the Canoo logo on a Canoo LV (Lifestyle Vehicle) electric vehicle outside a manufacturing site in Livonia, Michigan, U.S. November 29, 2022.
The EV maker expects capital expenditure of $30 million to $40 million in the second half of 2023, compared with its prior forecast range of $70 million to $100 million.
Canoo projects core loss to be between $85 million and $105 million for the second half, versus its previous range of $120 million to $140 million.
Adjusted loss per share was 6 cents, compared with LSEG estimates of a 12-cent loss.
Its cash and cash equivalents were $8.3 million as of Sept. 30, compared with $5 million in the preceding three months.
Persons:
Rebecca Cook, Canoo, Tony Aquila, EVs, Aquila, Samrhitha, Shilpi Majumdar
Organizations:
REUTERS, Ford, General Motors, U.S . Defense Department, Walmart, NASA, Thomson
Locations:
Livonia , Michigan, U.S, Oklahoma, Bengaluru