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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…
“Lucky me,” I thought as I navigated the 2025 Hyundai Ioniq 5 into the last spot of a Tesla Supercharging station in Palm Springs. The EV didn’t really need any juice. But this refreshed compact all-electric SUV comes equipped with Tesla’s North American Charging Standard port; it was time to test out how well Hyundai…
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…
When Hindenburg Research posts a blog on its website, it often means a company’s final days are near. Today, that company is Hindenburg Research. Nate Anderson announced Wednesday he has shut down short-selling firm Hindenburg Research after a seven-year run issuing damning reports about high-profile companies, including many of the technology world’s giants and buzzy…
Even before CES 2025 kicked off a few trends began to emerge — or more accurately, some gaps appeared. All U.S. and some European automakers that have helped turn CES into an auto show were absent. Several Chinese automakers filled that void, notably Zeekr, the EV brand owned by China’s Geely Holdings. Wey, a premium…
I did not go to CES 2025 with the goal of getting drenched by Lake Mead’s chilly January waters. But when I discovered Los Angeles-based boat startup Arc had brought its new sport boat to Las Vegas, I figured it was worth the risk. It was. The Arc Sport was a joy to drive, even…
Volkswagen-backed startup Scout Motors broke cover just a few months ago, and at this week’s CES 2025 in Las Vegas, Nevada, they hold the honor of being one of the only American automakers with a presence at the show. That’s not the only thing that stands out about Scout being here, though. In a sea…
Five years ago, Toyota Chairman Akio Toyoda went to CES to share with the world his “personal field of dreams” — a plan to build a prototype city on a 175-acre site at the foot of Mount Fuji in Japan, where people would live and work amongst all of Toyota’s projects, including autonomous vehicle technology,…
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…
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,…