Seven-year-old electric car startup Canoo has filed for bankruptcy. will be “Cease operations immediately.” The company is liquidating its assets through a Chapter 7 filing in Delaware bankruptcy court.
Said in a company. Press release It announced late Friday that talks with foreign capital sources had failed. The US Department of Energy's Office of Loan Programs, which has the pleasure of lending on waning days, also reported that funding was unavailable. The Biden administration.
This comes just weeks after Canoo filed for bankruptcy. The rest of the workers were removed. It does not operate its factory in Oklahoma. The company has struggled through 2024 to get more than a few of its electric vans into the hands of potential customers. Many executives left.. That's it there were. By mid-November, there was only $700,000 in the bank.
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