Canoo sinks



Electric commercial vehicle startup Canoo has ceased operations and filed for bankruptcy. The American company, known for its LDV130 electric cargo van, failed to secure enough funding to address its debts.

Canoo is the latest in a series of collapsed EV manufacturers, following Arrival in early 2024 and Fisker shortly thereafter. Volta Trucks narrowly avoided a similar fate in 2023, rescued by Luxor Capital and now poised for recovery.

Canoo supplied vehicles to the US Postal Service, Department of Defense and NASA. The LDV130, based on a modular platform with drive-by-wire controls, allowed easy customisation for specific needs.

Chairman and CEO Tony Aquila expressed gratitude to employees, partners and clients, including NASA, the Department of Defense, and Walmart, for their belief in Canoo’s vision. “We are truly disappointed that things turned out as they did,” Aquila said, reflecting on the company’s struggles and ultimate closure.

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