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

Canoo Inc. has filed for Chapter 7 bankruptcy, marking the end of its operations.The filing was made with the U.S. Bankruptcy Court for Delaware, leading to th

Canoo Inc. has filed for voluntary relief under Chapter 7 of the U.S. Bankruptcy Code. This petition was submitted to the U.S. Bankruptcy Court for Delaware, which will appoint a Bankruptcy Trustee to oversee the liquidation of the company's assets and the distribution of funds to creditors.