Electric trucking company Harbinger has filed an objection to the sale of Canoo’s assets to its CEO, potentially throwing a wrench into the two-month-old bankruptcy case. Harbinger’s objection, filed late Friday, accuses Canoo of hiding certain assets from the sale process, including what the startup purchased from another bankrupt EV company, Arrival. It also accuses…
Category: Canoo
Canoo, electric vehicles, EVs, Global IT News, Global Security News, Transportation
Canoo’s CEO is buying the bankrupt EV startup’s assets
The CEO of Canoo is buying nearly all of the defunct EV startup’s assets out of bankruptcy, according to a court filing. A new entity controlled by the CEO, Anthony Aquila, has offered to purchase “substantially all” of the assets for $4 million in cash. The sale will also wipe clean a more-than-$11 million debt…
Canoo, Ford, Global IT News, Global Security News, GM, Government & Policy, Rivian, techcrunch mobility, Transportation
Canoo craters and Trump comes for EVs
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! We’re just a few days into a new Trump administration, and it’s already a firehose of executive orders, declarations, and even pardons. A few have crossed into…
Canoo, electric vehicles, EVs, Global IT News, Global Security News, Transportation
EV startup Canoo files for bankruptcy and ceases operations
Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will “cease operations immediately.” The company is liquidating its assets in a Chapter 7 proceeding in the Delaware Bankruptcy Court. The company said in a press release published late Friday that it was “in discussions with foreign sources of capital” that proved unsuccessful, and also…
Canoo, electric vehicles, EVs, Exclusive, Global IT News, Global Security News, Transportation
EV startup Canoo places remaining employees on a ‘mandatory unpaid break’
Struggling electric van startup Canoo has placed its remaining employees on what it’s calling a “mandatory unpaid break” through at least the end of the year, according to an email obtained by TechCrunch. The company told employees they are being locked out of Canoo’s systems at the end of the day Friday, according to the…
Canoo, Global IT News, Global Security News, lucid, RAM, robotaxis, techcrunch mobility, Tesla, Transportation, Waymo, zoox
Waymo fills the Cruise void overseas and a salute to icon Jean Jennings
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. This will be the last newsletter of 2024! But don’t worry, we’ll be back in 2025 — sign up here to get it in your inbox every week. Thank you for reading and your emails. I love…
Canoo, EVs, Global IT News, Global Security News, Layoffs, layoffs and furloughs, Transportation
Canoo furloughs workers and idles factory as it scrapes for cash
Struggling EV startup Canoo says it has furloughed 82 employees and is idling its factory in Oklahoma while it grasps for the capital needed to survive. The company claims it is in “advanced discussions with various capital sources” to raise emergency funding. The announcement comes just a few days after board member James Chen resigned,…