Oklahoma’s pledge of millions of dollars to help EV maker Canoo build a plant in Pryor were put at risk this week as the car-maker publicly admitted it had serious financial problems.
They arose after the company warned investors it might not be able to meet financial obligations and it was attempting to raise more money. Reuters reported the company admitted it had “substantial doubt” about its going concern even after Oklahoma agreed to give the company nearly $15 million in cash incentives over the next four years. The pledge included $10 million to help build an EV plant in Pryor.
The Oklahoma Commerce Department did not respond to a request by OK Energy Today for a comment.
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