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

Electric van startup Canoo has filed for bankruptcy and announced that it is ceasing operations “immediately” and liquidating its assets. The America

Upstart electric automaker Canoo promised to build an adorable electric van. The California-based startup got some big-hitter backing in its early years, including a deal to develop platforms with Hyundai and talks with Apple for its planned car.

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;