The startup, founded in 2017 and focusing on electric commercial vehicles, has run out of money, ceasing operations and beginning plans to liquidate its assets.

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

In late December, when TechCrunch reported that EV startup Canoo had just $700K in the bank and was putting its staff on a “mandatory unpaid break,” it felt like there’s never been clearer writing on any wall in history.

Struggling electric vehicle startup Canoo has filed for bankruptcy and ceased all operations.

Texas-based EV startup Canoo filed for Chapter 7 bankruptcy Friday, joining a growing list of failed electric vehicle manufacturers that initially blossomed in the wake of Tesla ’s success, albeit one that required six years before realizing a quarterly profit.

Canoo, the electric vehicle startup that once promised to employ thousands of Oklahomans, filed for bankruptcy on Friday.

The US electric vehicle manufacturer Canoo has filed for Chapter 7 bankruptcy and will cease operations immediately. This marks the end of the road for the company that emerged from the Californian EV startup Evelozcity in 2019.

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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.

Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to creditors. According to the Friday announcement,