Canoo, once a promising EV startup, has filed for Chapter 7 bankruptcy after failing to secure sufficient capital, dismissing its total workforce of 112 employees.
The company has begun liquidation of its assets, emphasizing that proceeds will go solely to creditors and unpaid bills, marking a stark end to its operations.
CEO Tony Aquila expressed disappointment in the company's shut down, thanking employees and investors, noting their belief in the company’s potential and advancements.
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