Canoo predicts that it'll make between $50 and $100 million during 2024, which is below expectations. At the same time, it plans to spend at least $45 million per quarter. Last year it spent twice as much on private jet flights for its CEO than it gained in revenue. Canoo just posted another quarterly loss and the plan for 2024 doesn't look like it'll end that streak. It made $886,000 during 2023, but spent twice that on private jet flights for its CEO.
What makes this tidbit even more interesting is that the struggling EV startup paid that money to Aquila Family Ventures, which, as you guessed, is owned by the CEO for the use of the aircraft. The EV company had previously paid Aquila Family Ventures $1.3 million in 2021 and $1.8 million in 2022 for jet hires. Additionally, Canoo allocated $1.7 million in 2023, $1.
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