EV Startup Canoo Follows Tesla's Footsteps, To Move Headquarters From California To Texas
Portfolio Pulse from Anan Ashraf
Canoo Inc (NASDAQ:GOEV) is relocating its headquarters from California to Texas, following Tesla's similar move in 2021. The company plans to reduce its workforce in California and relocate most employees to Texas or Oklahoma.
August 27, 2024 | 10:05 am
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Canoo Inc is relocating its headquarters from California to Texas, which involves a significant workforce reduction and relocation of employees. This strategic move may impact operational costs and align with the trend set by Tesla.
The relocation to Texas could reduce operational costs and align Canoo with a business-friendly environment, potentially improving its financial position. The move follows a similar strategy by Tesla, which may positively influence investor sentiment.
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