Electric vehicle startup Canoo files for bankruptcy, to liquidate after failing to secure vital funding.

Electric vehicle startup Canoo has filed for Chapter 7 bankruptcy and plans to liquidate its assets after failing to secure federal loans or foreign investment. Despite delivering vehicles to NASA, the Department of Defense, and Walmart, the company could not secure financial support from the U.S. Department of Energy and will now cease operations. A trustee will oversee the liquidation process.

2 months ago
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