Canoo’s deal with Hyundai appears dead

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Image: Canoo

The deal between Canoo and Hyundai to build electric vehicles appears to be dead, as the California EV startup is moving away from trying to sell its electric vehicle technology to other automakers.

Canoo chairman Tony Aquila shared the news Monday during an icy investor call — Canoo’s first as a publicly-traded company. Canoo’s CEO was also absent from the call, and the company announced earlier in the day that its CFO had resigned to take another job — the second major departure in recent weeks following Canoo losing its head of corporate strategy.

“These are significant surprises on the call today, and that’s not ideal,” Roth Capital analyst Craig Irwin said at one point on the call.

The deal with Hyundai was announced in February...

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