Canoo, an electric vehicle company, is out of money and uncertain about its future

Canoo, an electric vehicle company, is out of money and uncertain about its future

Canoo was formed in late 2017 by former BMW executive Stefan Krause, who left the faltering electric vehicle startup Faraday Future. Faraday Future sued Krause and some of the other executives who co-founded Canoo — which was then called Evelozcity — for poaching employees and allegedly stealing trade secrets, though the dispute was settled in late 2018.