EV Startups Struggle to Stay Afloat: Canoo Becomes Latest Victim

Another electric vehicle (EV) startup from the pandemic boom has folded. The EV market had been a hotbed of innovation and optimism, particularly for startups eager to replicate the success of industry leader Tesla (TSLA) . However, most have failed to make the leap from concept to commercial success.Last April, Canoo (GOEV) raised concerns about its survival, revealing that it lacked enough cash to last the next 12 months. On Friday, this Texas-based company finally decided to shut down operations and file ...