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.

Canoo, the electric vehicle startup that once promised to employ thousands of Oklahomans, filed for bankruptcy on Friday.

US electric van manufacturer Canoo has become the latest innovative vehicle start-up to file for bankruptcy after failing to secure vital funding. Canoo had inked deals to sell its pod-like electric van to high-profile customers such as the United States Postal Service (USPS),

EV startups are dying left and right, with Canoo the latest to file for bankruptcy after struggling to stay afloat in harsh economic conditions

Justin, Texas-based electric vehicle startup Canoo announced Friday it had begun bankruptcy proceedings and ceased operations, effective immediately.

Electric vehicle manufacturer Canoo announced it was filing for bankruptcy Friday. The Oklahoma government was not just a customer but also a de facto investor in Canoo, offering more than $100 million in incentives to bring facilities to the state.

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.

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. According to the Friday announcement,