Canoo electric van manufacturer Canoo is now bankrupt. In an announcement made over the weekend, the company said that the company has ceased operations immediately after running out of funds. The news of Canoo's closure is surprising because their electric vans will be used by NASA to transport astronauts for the Artemis Mission to return to the surface of the moon.
In addition to NASA, Canoo has also received support from the Department of Defense, the United States Postal Service (USPS) and Walmart. After showing off an early prototype, Canoo has received praise for its realistic-looking van design and plans to offer it as an electric truck to compete with the Cybertruck.
Canoo's failure to fully produce their vans has caused the company to face problems. As of October last year, only 12 vehicles were successfully produced out of thousands of orders received from Walmart and the USPS.