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Canoo capsizes under capital struggles

Another EV start-up has declared bankruptcy in the struggle to secure financial resources. By Megan Lampinen

Troubled electric vehicle (EV) start-up Canoo has filed for bankruptcy and ceased operations. A court-appointed trustee will manage the liquidation of the company’s assets.

Automotive World Magazine – February 2025

The US hopeful was founded in 2017 by two former Faraday Future executives under the name Evelozcity. The aim was to “reinvent the automotive landscape” with a versatile zero-emission platform using a skateboard architecture that could be paired with any type of cabin design. The company claimed that its unique approach allowed for a smaller skateboard, reduced weight and fewer parts, providing more interior cabin space and a more cost-effective EV offering. The roadmap called for a range of models targeted at commercial fleets, like delivery and ride-sharing operations alongside commuter models, offered by subscription only.

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https://www.automotiveworld.com/articles/canoo-capsizes-under-capital-struggles/

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