American EV Startup Canoo Officially Bankrupt

It’s not easy to keep your head above water as a new player in the automotive world. Many people can talk about that, including the people behind Canoo. It once emerged from the American start-up Evelozcity, which in 2019 opted for the catchier name Canoo. Not a very appropriate name, admittedly. After all, there were no canoes at Canoo; it focused on the development of electric vans and passenger vans but also targeted the pickup market.

In 2021, Canoo chose VDL Nedcar in the Netherlands for the production of its cars. That was big news at the time, and it seemed to bring some light on the horizon for many Nedcars employees. Unfortunately, that joy was short-lived because, at the end of 2021, Canoo pulled the plug. Now the plug is being pulled from all of Canoo due to a lack of financial resources. According to Reuters, Canoo is bankrupt, work will cease immediately, and the remains of the company will be sold under judicial supervision.

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