The next time someone tells you that Tesla needs more competitors, tell them that launching a new EV on the market – especially one made in the US – is not an easy feat, as launching an all-electric van Canoo revealed this week.

This was announced by the company, founded in 2017 results for the first quarter yesterday and there are some disturbing details.

There are many big numbers and technical terms for those of us without a degree in finance or accounting. But let’s take a look at who Canoo is, its offerings and what its financial problems may mean for the company.

Canoo funky designs