Chief Executive of Canoo Forms Company to Acquire Assets of the Bankrupt Electric Vehicle Manufacturer

The chief executive of Canoo Inc. has formed a company to acquire the assets of the bankrupt electric vehicle manufacturer for $4 million. Known as WHS Energy Solutions, the company founded by Anthony Aquila needs approval from the bankruptcy court to complete the transaction. It was founded in Torrance and had its headquarters there until moving to Texas last year.

Canoo was a seven-year-old startup electric vehicle manufacturer that had contracts with NASA, the Department of Defense, the United States Postal Service and others, but had delivered very few vehicles since its founding. The company went public through a merger with a special purpose acquisition company in 2020. It claimed to raise nearly $600 million in venture capital funding and had contracts worth $2 billion but declared bankruptcy in January as it could not find investors to support continued operations.