EV startup Canoo files for bankruptcy and ceases operations

1. Canoo has filed for Chapter 7 bankruptcy and ceases operations. 2. The company failed to secure funding, contributing to its liquidity issues. 3. Canoo had only $700,000 left in the bank by mid-November. 4. Furloughs and executive departures marked Canoo's struggles in 2024. 5. The bankruptcy highlights challenges for electric vehicle startups amid funding difficulties.