Canoo was founded in 2017 by two former Faraday Future executives, changing its name from Evelozcity in 2019. That same year, it unveiled its so-called lifestyle vehicle prototype model. It made no revenue in 2022 and almost none in 2023. Development costs kept piling up, with more than $1 billion in loans.

EV startups are dying left and right, with Canoo the latest to file for bankruptcy after struggling to stay afloat in harsh economic conditions

Canoo Inc. has filed for Chapter 7 bankruptcy, marking the end of its operations.The filing was made with the U.S. Bankruptcy Court for Delaware, leading to th

Canoo Inc. has filed for voluntary relief under Chapter 7 of the U.S. Bankruptcy Code. This petition was submitted to the U.S. Bankruptcy Court for Delaware, which will appoint a Bankruptcy Trustee to oversee the liquidation of the company's assets and the distribution of funds to creditors.

Electric vehicle (EV) startup Canoo announced on Friday that it will file for Chapter 7 bankruptcy, ceasing operations effective immediately. The company, known for its innovative microbus-inspired cargo vans,

The company had been in talks for the same kind of loan from the Biden administration that Rivian was just awarded, only to be denied at the last moment.

Canoo said on Friday night that it has filed for Chapter 7 bankruptcy and “will cease operations effective immediately,” after failing to secure enough funding to keep it going. The writing was on the wall for the EV startup leading up to the announcement;