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Canoo

EVUSA
💀 Dead / Bankrupt
Peak $2.4 BillionToday
~-99%
from peak
  1. 🦄
    Became a unicorn
    2020
  2. 📈
    Peak valuation
    $2.4 Billion ’20
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$0
Current status
Chapter 7 (Jan 2025); liquidation

How it happened

Canoo was a US electric-vehicle startup valued around $2.4B after a 2020 SPAC merger, pitching modular EVs and subscription models. It struggled with chronic cash shortages, leadership turnover, and minimal production. Its stock collapsed well below $1B, and the company filed for Chapter 7 bankruptcy and liquidation in January 2025, wiping out roughly 99% of its value.

Source: TechCrunch/Quartz