In a recent statement, EV startup Canoo revealed that it has filed for Chapter 7 bankruptcy and will "cease operations immediately." The struggling EV startup noted that it failed to secure “foreign sources of capital,

San Antonio-based Marc III General Contractors LLC is seeking Chapter 7 protection in the U.S. Western District of Texas, according to filings made this week in court. The company lists about $9.7 million in liabilities among three secured claimants. Marc III also lists more than $16.5 million in assets.

Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to creditors.

Seven-year-old electric vehicle startup Canoo has filed for Chapter 7 bankruptcy and announced an immediate halt to operations weeks after it furloughed its remaining workers and idled its Oklahoma factory.

The startup, founded in 2017 and focusing on electric commercial vehicles, has run out of money, ceasing operations and beginning plans to liquidate its assets.

The move comes as the company failed to obtain support from the US Department of Energy's Loan Program Office.

Struggling electric vehicle startup Canoo has filed for bankruptcy and ceased all operations.

Though it received and delivered orders, EV startup Canoo just filed for Chapter 7 bankruptcy and ceased operations after failing to secure needed financing.

Not long after moving its headquarters from California to Texas, EV startup Canoo is sinking. The 7-year-old company making pod-shaped electric vehicles announced late last week that it filed for bankruptcy and ceased operations.