Canoo, a seven-year-old electric vehicle startup, has filed for Chapter 7 bankruptcy and will cease operations immediately. The company is currently liquidating its assets in Delaware after unsuccessful funding discussions. Despite efforts to secure capital from foreign sources and the U.S. Department of Energy, Canoo struggled throughout 2024 to deliver its electric vans. The startup recently furloughed its employees and closed its Oklahoma factory amid significant financial challenges, reporting only $700,000 in the bank in mid-November. This story is still developing.