Canoo goes bankrupt, with less than $50,000 left and millions more to go
Canoo filed for Chapter 7 bankruptcy after burning through cash and failing to secure funding. Despite high-profile support, it has failed to secure financial backing from U.S. or foreign investors. The electric vehicle startup lost more than $900 million between 2022 and mid-2024. Another electric vehicle startup is in trouble. Following Lordstown Motors and Fisker's recent filings for varying degrees of bankruptcy protection, Canoo announced late Friday that it would file for Chapter 7 bankruptcy and cease operations immediately. After years of promises and prototypes, Canoo has officially run out of steam. Even its public website appears to have been shut down, as it now redirects to an investor page, signaling the end. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP"){ adpushup.triggerAd("0f7e3106 -c4d6-4db4-8135-c508879a76f8"); } else { adpushup.triggerAd("82503191-e1d1-435a-874f-9c78a2a54a2f"); More: Canoo furloughs 23% of factory workers after selling just 22 cars last year The company was founded in 2017 as Evelozcity and changed its name to…
Smart mobility: Armenian flying taxi startup raises millions
Listen to audio Want to stay ahead of the curve when choosing a destination for your next meeting? Consider a great new option located in the capital of Armenia. Looking for a unique, nature-filled venue option? Marriott just teamed up with Postcard Lodge to change the game for outdoor meetings. Want your attendees to be able to levitate from the airport to the conference venue? $660 million has just been spent on making that dream a reality. Read the latest travel news brought to you by Smart Travel. Dubai makes progress on tourism, events and sustainability in 2024 With nearly 15 million overnight visitors as of October 2024, Dubai has become a top international tourism, conference and events destination. The city has also established a balanced appeal, attracting visitors from Western Europe (20%), South Asia (17%) and the GCC (15%). Dubai has made a concerted effort to emphasize its capacity growth, with an average occupancy rate of 77% across its…
European automakers spend millions to retain Chinese dealers
A high-tech BMW store in Beijing has closed, and thousands of other dealerships in the industry are expected to close. go through Chris Chilton 17 hours ago Premium European carmakers are spending millions of euros to keep their dealers afloat in a tough Chinese car market. The country's renewed price war has resulted in unsustainably deep discounts, pushing retailers into the red. BMW's China sales fell 30% in the third quarter, and its luxurious Beijing Xingdebao 5S store was forced to close. European carmakers have been making money in China for years, but now the profit stream has reduced to a trickle, and no one knows this better than the retailers struggling to move the metal. Western premium brands are now reportedly spending "hundreds of millions" of euros to prevent dealers from going bankrupt. China's new-car market has been hammered by an influx of aspirational products from China's increasingly aggressive domestic brands and an associated price war that has forced…
Millions of supercars are piled up, including Ferrari LaFerrari,
A group of supercars crashed while driving on a winding mountain road. The total value of the four vehicles involved is millions of dollars. The cause of the costly accident is unknown. Details and facts on this are sparse, but we hope none of us will experience a day as disastrous as these drivers. The four of them managed to crash cars worth a combined millions of dollars. The cheapest vehicle in this rather unique bumper car game was estimated to be worth around $300,000 before it crashed, although the chances of it surviving unscathed are slim. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP") { adpushup.triggerAd("4d84e4c9 -9937-4f84-82c0-c94544ee6f2a"); } else{ adpushup.triggerAd("6a782b01-facb-45f3-a88f-ddf1b1f97657"); What we see in the photo is rough. The cars appeared to be clustered together as the group made their way down a winding mountain road. The police in the photo are wearing uniforms that match those of the Austrian police. At least…
Lamborghini accuses dealers of making millions selling to it
Lamborghini says dealers claimed about $4 million in bonuses through 'shadow scheme' October 19, 2024 14:19 Lamborghini is suing one of its dealers, accusing it of taking millions of dollars in bonuses that the automaker says it did not earn. Audits of dealerships allegedly revealed a "shadow scheme" to sell cars to speculators rather than real customers. A judge has now allowed the lawsuit to go to trial, moving Lamborghini's case against the dealer forward. Across the automotive world, people with the ability to flip cars seem to be able to do so, often with little pushback from the automakers. But now, Lamborghini is taking a stand by publicly suing one of its dealers. The Italian company claims that dealers not only sold cars to speculators, but also made deceptive sales and received millions of dollars in bonuses in the process. Ultimately, Lamborghini accused Gold Coast Exotics of Illinois, its president and an employee of fraud. The automaker said an…
Countdown to 5 days | Brand exhibitors are ready to go! Millions of advertisements dominate the subway/airport…The 32nd Shenzhen Gifts and Furnishings Fair is full of atmosphere!
Countdown to launch in 5 daysThe 32nd Shenzhen Gift House ExhibitionAnd 1688 Source Factory Merchants’ Festival·This exhibition will present13 thematic exhibition rooms260,000㎡ exposure scale4,500 quality exhibitorsMillions of creative giftsMore than 10 bases and special exhibition groups9 flagship exhibition spaces17 thematic forums...Free tickets available until 12:00 p.m. October 18⬇Pre-register for benefits and get them for free①Save $50 on on-site tickets②“White Paper on the 2025 Outlook for China’s Gift Industry”It starts soon!The organizer and all exhibitors are actively preparing for the exhibitionBe fully prepared to welcome international buyersRenderings of special Yibo brand booths and metro/airport photosInvites you to feel the atmosphere of the upcoming exhibitionNEWSSpecial brand decoration renderings (part)Anhui Wangxiaolu Network Technology Co., Ltd.4D69-72Shenzhen Yigouzhijia Industrial Co., Ltd.4D81-84, E81-86Zhuoyue (Beijing) Agricultural Technology Co., Ltd.4E01-10Haishenghe Blue Ocean Technology (Qingdao) Co., Ltd.4G41-50Zhejiang Jinhua Ham Co., Ltd.4B63-66China Cartoon Alliance (Beijing) Technology Co., Ltd.5F01-10Ningbo Liangpingou Business Service Co., Ltd.5E53-62Jiangxi Huangshanghuang Group Food Co., Ltd.5H37-40Shanghai Weihong Trading Co., Ltd.5F11-20, 9:35-40Zhejiang Kuangdi Industry and Commerce Co., Ltd. 6E11-20,…
Hackers took control of millions of Kia vehicles using just one piece of software
Thanks to exploits and license plates, bad actors can unlock and launch everything from Forte to EV9 Researchers have discovered a vulnerability that could allow an attacker to gain access to millions of Kia vehicles within 30 seconds. The team created a tool that can be used to remotely lock/unlock a vehicle, start and stop the vehicle, and locate the vehicle. The organization notified Kia of the issue and the vulnerability has since been resolved. Kia Boyz is clearly doing it the hard way, as security researchers recently discovered that millions of cars built after 2013 could be taken over via their license plates. This was a shocking discovery, as the "key" was actually mounted on the rear bumper. The vulnerability was discovered in June by researchers including Sam Curry, Ian Carroll, Neiko Rivera and Justin Rhinehart. The vulnerability allowed a bad actor to take control of a vehicle in approximately 30 seconds and also exposed customer information, including names,…
Millions of dollars worth of cocaine washed ashore
Cupra is finally coming to the U.S., but it's not the electric car we expected Twenty-five bags of cocaine bearing the Cupra logo washed up on the Florida coast. The black market value of those 70 pounds of coke was over $1 million. A kind-hearted person discovered the drugs and alerted the relevant authorities. Earlier this year, Cupra announced plans to enter the U.S. market by 2020. The company will launch two electric vehicles on the East Coast, West Coast, and in "select states" in the Sun Belt. While the exact timing remains to be seen, Cupra has already made its debut in Florida. This isn't the Formentor EV, though, as we're talking about 25 packs of cocaine emblazoned with the Cupra logo. MORE: Do you think Cupra will be successful in the United States? The packages were blown onto a beach in the Florida Keys by Hurricane Debbie, according to Samuel Briggs II, acting chief patrol officer of the…
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