The EV start-up had at one point allegedly been in conversations with Apple and had signed contracts with both NASA and Walmart.

Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will "cease operations immediately." The company is liquidating its assets in a

Canoo, the electric vehicle startup that once promised to employ thousands of Oklahomans, filed for bankruptcy on Friday.

Canoo announced yesterday it is ceasing operations “immediately” and that it has filed for Chapter 7 bankruptcy in Delaware. The EV startup estimates in its filing that its assets are worth $126 million and that it owes over $164 million to its creditors,

Following failed talks with investors, Canoo is insolvent. The US company builds electrically powered delivery vans.

Canoo will stop operations after it filed for Chapter 7 bankruptcy. The Texas-based advanced mobility company announced Friday it was unable to secure financial support from the U.S. Department of Energy's loan program office. This comes after the company furloughed 82 employees at its factories in Oklahoma.

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