American electric car start-up Canoo has gone bankrupt, ceasing operations with immediate effect.
Canoo was founded in 2017 and rose to prominence in 2020, when Tesla-fulled hype on the stock market spiked the value of numerous EV start-ups.
It began producing its LDV van in late 2023, delivering early examples to organisations as varied as NASA, the US Department of Defense and supermarket chain Walmart. Last year it expanded into the UK, delivered a van to Royal Mail.
