In fact, the situation is so bad, on Friday, the company announced it’s voluntarily filed for relief under Chapter 7 in the Bankruptcy Court of Delaware. According to a media release shared by the company,

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

Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will "cease operations immediately." The company is liquidating its assets in a