Electric vehicle startup Canoo files for Chapter 7 bankruptcy and ceases operations.

Canoo Inc., an electric vehicle startup, has filed for Chapter 7 bankruptcy and will cease operations immediately. The company, known for delivering vehicles to NASA, the Department of Defense, and Walmart, failed to secure financial support from the U.S. Department of Energy and foreign investors. A court-appointed trustee will oversee the liquidation of Canoo's assets.

2 months ago
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