Struggling EV startup Canoo said it has laid off 82 employees and is idling its plant in Oklahoma while it raises the capital it needs to survive. The company said, “We are in prior discussions with various funding sources” to raise emergency funds.
The announcement comes just days after director James Chen resigned and about a month after the chief financial officer and senior attorney left the company. Canoo is also facing several lawsuits from suppliers over alleged late payments.
The new holiday caps off a difficult year for startups. The company suffered several rounds of layoffs and layoffs and closed the Los Angeles office that served as its headquarters. Canoo’s chief technology officer left the company in August, and the company’s founders are now gone. In the meantime, it was maintained with a loan from a venture company run by CEO Tony Aquila.
It’s unclear what Canoo was making at its facility in Oklahoma before it decided to cease operations. So far, the company has delivered electric vans to NASA, USPS, Walmart and the Department of Defense for testing. But it failed in its broader ambitions of expanding manufacturing for other commercial customers.
In an unsigned statement, Canoo said: “We regret having to lay off staff, especially over the holidays, but we have no choice at this time. We hope they can get back to work soon.” Aquila did not immediately respond to a request for comment.
