Canoo CEO can buy bankrupt EV startup’s assets, judge rules

image via TechCrunch

April 10, 2025, 1:53 PM

• •The sale of bankrupt EV startup Canoo’s assets to its CEO has been approved by the judge overseeing the case.
• •Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair and that no one else but Canoo CEO Anthony Aquila made a bid.
• •Aquila plans to offer services to customers such as NASA and the Department of Defense, which purchased a few Canoo vehicles before the company went under, according to lawyers representing the CEO.

The sale of bankrupt EV startup Canoo's assets to its CEO has been approved by the judge overseeing the case. After evaluating a number of limited objections to the sale, Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair and that no one else but Canoo CEO Anthony Aquila made a bid. Shannon's decision paves the way for Aquila to buy most of the assets of the EV startup for around $4 million in cash. Aquila plans to offer services to customers such as NASA and the Department of Defense, which purchased a few Canoo vehicles before the company went under, according to lawyers representing the CEO.

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