Canoo Files for Bankruptcy, Bids Farewell to Ambitious EV Dreams
Canoo, a Texas-based electric vehicle (EV) startup, has officially filed for Chapter 7 bankruptcy, marking the end of its efforts to produce a unique lineup of electric vans and trucks. Founded in 2017, Canoo gained attention in 2019 with its innovative Lifestyle Vehicle, a seven-seat passenger van, but failed to take off as planned. The company announced its bankruptcy on January 21, 2025, after unsuccessful attempts to secure funding from sources including the U.S. Department of Energy and foreign investors.
Despite building a limited number of electric vans for clients like Walmart and the United States Postal Service (USPS), Canoo was unable to move beyond prototype production. Last year, it relocated its headquarters from California to Texas in hopes of reviving its prospects.
Canoo had once collaborated with major partners, including a contract with NASA for crew transportation in its Artemis program, but those agreements did not yield significant production results. The company’s plans for commercial vehicles, including the Lifestyle Delivery Vehicle, have now been halted indefinitely, and a trustee will oversee the liquidation of its assets.
With Canoo's filing, many who hoped for the brand's unique take on electric vehicles may be left with only memories of prototypes that never reached the consumer market.
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