https://techcrunch.com/2022/08/08/canoo-burns-cash-in-race-to-hit-1b-ev-sales-goal/

Electric vehicle company Canoo’s second-quarter results, like its first-quarter results, show a pre-revenue company that’s burning through cash. However, last quarter, Canoo was warning it might not have enough cash to stay in business. Three months later, the EV startup-gone-SPAC is touting access to enough capital to see it through the rest of 2022.

“We are preparing for [standard operating procedure] readiness,” said Ramesh Murthy, chief accounting officer at Canoo, during Monday’s earnings call. “We have customers. We have access to capital. We have a strategy that benefits our company and shareholders against the backdrop of this global economic condition. We are making it happen.”