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Up a creek without a paddle: Canoo files for bankruptcy

Canoo, the US-based electric van company that was one of the main draws of the 2024 Commercial Vehicle Show, has announced that it is filing for bankruptcy and ceasing operations with immediate effect.

The news comes soon after the enterprise had established a UK operations centre in Bicester from where it was planning a major UK launch in 2025.

Canoo was formed in California in 2017 and was developing breakthrough electric vehicles to shake-up the LCV landscape with 'bold innovations in design, pioneering technologies and a unique business model that defies traditional ownership to put customers first'.

The intended line-up included the Canoo Lifestyle Delivery Vehicle (LDV) electric van, which had been procured for contract work by NASA, Walmart and US Mail across the Atlantic. A pick-up truck variant was also previewed at the NEC and the company had recently begun UK trials with Royal Mail.

Tony Aquila, Canoo's chairman and CEO, said: 'We would like to thank the company’s employees for their dedication and hard work. We know that you believed in our company as we did. We are truly disappointed that things turned out as they did.'

Ask HJ

What are the speed limits for my seven-seater electric van?

I have a Vauxhall e-Vivaro seven seat van which is registered as a car but is not car derived. What are the speed limits? According to the police, it’s not car derived and is therefore a van so reduced to van speed limits but the V5 says it’s a car. Please can you clarify?
This is a very grey area and one that is quite often misinterpreted by the authorities, as well as by the vehicle manufacturers themselves. Ultimately, the only failsafe way is to check how the vehicle has been registered with DVLA. You can check via the V5C - look at the "Vehicle type approval." If it's N1, it's subject to van speed limits. If it's M1 it's subject to car speed limits.
Answered by Craig Cheetham
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