Texas-based EV startup Canoo filed for Chapter 7 bankruptcy Friday, joining a growing list of failed electric vehicle manufacturers that initially blossomed in the wake of Tesla’s success, albeit one that required six years before realizing a quarterly profit.

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.

Struggling electric vehicle startup Canoo has filed for bankruptcy and ceased all operations.

Unable to secure any funding from the U.S. Department of Energy’s Loan Program Office (or, apparently from other sources, including international investors), Canoo will cease all operations effective immediately,

Upstart electric automaker Canoo promised to build an adorable electric van. The California-based startup got some big-hitter backing in its early years, including a deal to develop platforms with Hyundai and talks with Apple for its planned car.

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The company had been in talks for the same kind of loan from the Biden administration that Rivian was just awarded, only to be denied at the last moment.

Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to creditors. According to the Friday announcement,

Canoo, the electric vehicle startup, has announced its filing for bankruptcy after failing to secure the necessary funding over the past few months.In a press release issued on Friday, the company stated that it would cease all operations immediately and plans to file for Chapter 7 bankruptcy.