Electric vehicle startup company Canoo is being investigated by the U.S. Securities and Exchange Commission (SEC), just a day after it announced plans to take deposits on three EVs it is scheduled to come out over the next couple of years. The SEC informed the company that the investigation does not mean that it has concluded that anyone has violated the law. Company officials have stated Canoo does not consider the investigation or other lawsuits the company is facing to be material to its business.
Canoo is not the only electric vehicle company to court conjecture over its operations. Both Lordstown Motors and Nikola have also come under scrutiny for a variety of issues.