Canoo CEO Cleared to Acquire Bankrupt EV Startup's Assets

Canoo CEO Cleared to Acquire Bankrupt EV Startup's Assets
A judge has approved Canoo CEO Anthony Aquila's acquisition of the bankrupt EV startup's assets for approximately $4 million. Despite objections regarding the fairness of the sale process, Judge Brendan Shannon ruled that no other bids were made. Aquila aims to continue offering services to former clients like NASA and the Department of Defense. The case highlights ongoing challenges in the EV sector, with several startups facing bankruptcy. Canoo's situation is further complicated by legal disputes over trade secrets with rival Harbinger, which objects to the sale's terms.