CV Show 2025

Electric van start-up files for bankruptcy

Electric van start-up files for bankruptcy

Electric commercial vehicle startup Canoo has filed for bankruptcy. The American business, which had developed the LDV130 electric cargo van, failed to raise sufficient funding to overcome its debts.

Published 22 Jan 2025By CV Show News

Canoo produced a number of vehicles and supplied them to The United States Postal Service, Department of Defense and NASA.

The Canoo LDV130 was based on a modular platform with drive-by-wire controls, which made it straightforward to alter the body to suit specific requirements.

Tony Aquila, one of the company’s largest investors as well as chairman and CEO, said: “We would like to thank the company’s employees for their dedication and hard work. We know that you believed in our company as we did. We are truly disappointed that things turned out as they did.

“We would also like to thank NASA, the Department of Defense, the United States Postal Service (“USPS”), the State of Oklahoma and Walmart for their belief in our products and our company. This means a lot to everyone in the company.

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