Inside EVs Global
Canoo was one of those EV startups that seemed to have a future with a cool product that showed plenty of promise. However, after failing to secure the necessary capital to stay afloat, the company announced yesterday that it’s filing for Chapter 7 bankruptcy.
We knew Canoo, founded in 2017 and initially called Evelozcity, was in serious trouble when, in November, it cut almost a quarter of its workforce (around 30 employees)—it employed around 800 people in 2021, so its workforce in 2024 was already considerably diminished. At the time, the company said this was a temporary move to help itself stabilize financially, although one of the workers who were shown the door spoke to the media and said they didn’t see Canoo “lasting maybe until the end of next year.”
However, one month later, Canoo decided to dismiss its 82 remaining employees, casting further doubt about its future. Now, it’s the start of 2025, and the company has issued a statement announcing its bankruptcy and that it will “cease operations immediately.” It will also begin liquidation of all its assets, and the proceeds will exclusively go toward paying its creditors and other unpaid bills. More
Knock-knock!
Who’s there?
Canoo.
Canoo who?
Canoo come out and shove this EV off the road?
…when you said “Ugly EV”, I thought you meant Rivian…
https://cdn.motor1.com/images/mgl/nRyNl/s3/rivian-r1s-in-white.webp
Learn to code!
Rivian: The vehicle with the surprised look that sez:
“OMG I’m uglier than a can of smashed assholes!”
As far as I can tell, they were unable to obtain any federal loans.
So what was the point then? I thought the idea was: 1. start an ‘eco’ company. 2. get federal loans/grants. 3. pay bonuses. 4 go bankrupt.
@SNS – you may not like the Rivian’s looks, but the Tesla truck is undeniably the ugliest thing on the road. Even the Aztec isn’t that bad.
The Tesla truck looks like a rolling dumpster! Cool Tech, but UAF!
Harry, my thoughts exactly.
EVs are strictly for dickheads.
So, what about all those electric postal vans idiot Biden committed to buy? Oshkosh who got the contract (cough, cough, bribery,) admitted they know nothing about making EVs.
Gimmee agood ol’ smelly diesel locomotive to deliver the freight ANY day – offloaded onto a good teamster driven diesel semi or UPS van
And liberal greenie fools with a lot of money to burn. No thanks, if I want an ugly car I’ll stick with an Edsel or a butt ugly Pontiac Aztec or anything built by AMC.
The AMC Pacer was considered the ugliest American car until the Pontiac Aztec came out.
It’s a box. With wheels on it. a k.a. a government people’s car.
Car shopping: who makes something that strikes a balance of practical and cool looking? Not geeky cool, but zoomy cool?