The move comes as the company failed to obtain support from the US Department of Energy's Loan Program Office.

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

Canoo announced yesterday it is ceasing operations “immediately” and that it has filed for Chapter 7 bankruptcy in Delaware. The EV startup estimates in its filing that its assets are worth $126 million and that it owes over $164 million to its creditors, TechCrunch noted yesterday.

The EV start-up had at one point allegedly been in conversations with Apple and had signed contracts with both NASA and Walmart.

Electric vehicle (EV) startup Canoo announced on Friday that it will file for Chapter 7 bankruptcy, ceasing operations effective immediately. The company, known for its innovative microbus-inspired cargo vans,

Canoo said on Friday it would file for Chapter 7 bankruptcy and cease operations, effective immediately. The EV startup has been dealing with rapid cash burn and has struggled to raise additional funding amid uncertain demand for its microbus-inspired cargo vans.

Electric vehicle maker Canoo files for bankruptcy

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