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. Canoo said in its bankruptcy filing (and the filings for its subsidiaries) that it owes money to hundreds of creditors and that it has more than $164 million in total liabilities.