Walmart Gives Embattled Tesla Rival Canoo a Lifeline

Walmart Gives Embattled Tesla Rival Canoo a Lifeline

Canoo  (GOEV) – Get Canoo Inc. Report, a young electric-vehicle manufacturer navigating serious financial stresses, got a lifeline just when it needed it.

The financial problems have clouded Canoo’s future, to the point where analysts were wondering whether the company would file to reorganize or would be bought by either a competitor or by a company that wanted to enter the huge-potential EV market.

Speculation and press reports, for example, point to a possible acquisition of the group by Apple  (AAPL) – Get Apple Inc. Report. On May 10, the Torrance, Calif., company had warned that it ran the risk of running out of money in coming months.


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