Car manufacturer Canoo experiences financial collapse, files for bankruptcy in the United States.
In a disappointing turn of events, American advanced mobility company and electric vehicle manufacturer, Canoo, has filed for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code. The filing was made with the U.S. Bankruptcy Court for Delaware.
Canoo, known for developing the LDV130 electric cargo van, has been unable to secure sufficient funding to overcome its debts. This unfortunate news comes as a blow to the company's chairman and CEO, Tony Aquila, who acknowledged the employees' belief in the company and expressed gratitude for their dedication and hard work.
Aquila also thanked notable entities such as NASA, the Department of Defense, USPS, the State of Oklahoma, and Walmart for their belief in Canoo's products. Prior to filing for bankruptcy, the company had agreements with these entities and supplied its vehicles to them.
Meanwhile, the UK's transportation sector is looking forward to an exciting event – the CiTTi Awards. Scheduled for November 2025, the fourth annual CiTTi Awards will recognise achievements and innovations in EV charging infrastructure.
The unmissable event will take place on 26 November 2025 at De Vere Grand Connaught Rooms in London. The CiTTi Awards is a significant platform for the UK's transportation sector, offering a platform to celebrate and recognise the strides being made in EV charging infrastructure.
For more information about the CiTTi Awards, visit www.cittiawards.co.uk.
In the liquidation process, a Bankruptcy Trustee appointed by the federal government will oversee the distribution of proceeds to Canoo's creditors. As Canoo's journey comes to an end, the focus now shifts to the future of electric vehicle manufacturing and the continued advancements in EV charging infrastructure.
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