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

Unable to secure any funding from the U.S. Department of Energy’s Loan Program Office (or, apparently from other sources, including international investors), Canoo will cease all operations effective immediately,

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.

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.

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

Electric vehicle startup Canoo declares Chapter 7 bankruptcy. The company is ceasing operations and will 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

LOS ANGELES (KTLA) – Authorities pursued a large group of motorcyclists as they performed stunts at high speeds in Los Angeles County Thursday night. Two suspects were initially wanted for a traffic violation and refused to pull over, leading to a chase involving both air and ground units. The riders traveled at high speeds as […]