Canoo Inc., a start-up electric vehicle maker, remains in line to get nearly $150 million in subsidies despite failing to meet hiring and investment targets to date. The Canoo made news when it received the large subsidy, because the young company was unproven and because the state awarded it a no-bid contract to buy up to 1,000 of its vehicles.
The Frontier reports the job target requirements include a minimum hiring salary of $40,472 per year, which works out to $19.46 per hour.
Per the story, Canoo was set to receive several millions dollars in exchange for buying an existing factory site. Instead, Canoo got out of that requirement; instead Canoo CEO Tony Aquila bought the site and is leasing it to Canoo.
Read the full story at The Frontier.