WALMART GIVES EMBATTLED TESLA RIVAL CANOO A LIFELINE

Walmart Gives Embattled Tesla Rival Canoo a Lifeline

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Canoo, a young electric-vehicle maker going through dire financial straits, found a lifeline when it needed it.

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Canoo said it needed at least $180 million for its operations for the second quarter ended June. The group said it only has $104.9 million in cash.

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The EV maker is taking advantage of the competition between Walmart and Amazon.

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[{"selector":"#anim-c90bf8c6-6cbc-487d-8a7c-2ea357ecb7af","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Yellow Star Established in 2017, Canoo develops electric vehicles. One of its creations is the Lifestyle, an innovative minivan whose prototype was unveiled in 2019.

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