Canoo Inc. (GOEV): Business Model Canvas [Dec-2025 Updated]

You were likely looking for the growth strategy of Canoo Inc., but as a financial analyst who has seen many pivots and collapses, I have to give you the hard truth for late 2025: the business model has been replaced by a wind-down plan. Following the Chapter 7 filing on January 17, 2025, the focus shifted entirely from vehicle sales to asset recovery, making the new canvas less about customers and more about the U.S. Bankruptcy Court and liquidating everything from their modular EV platform IP to factory equipment. If you want to see exactly how a promising EV concept transitions into a formal estate sale designed to maximize creditor payouts, dive into the nine blocks below.

Canoo Inc. (GOEV) - Canvas Business Model: Key Partnerships

The Key Partnerships block for Canoo Inc. (GOEV) as of late 2025 is defined by the legal framework governing its cessation of operations following the Chapter 7 bankruptcy filing on January 17, 2025.

The primary 'partners' are now the entities overseeing the wind-down and the resolution of contractual relationships and claims.

The legal venue for these proceedings is the U.S. Bankruptcy Court for the District of Delaware.

The liquidation process is managed by a Court-appointed Chapter 7 Trustee, whose role is to oversee the sale of assets to repay creditors.

The financial position at the time of filing established the scope of asset recovery:

Financial Metric	Amount
Total Declared Assets	$126 million
Total Debts/Liabilities	$164 million
SEC Fine (2023)	$1.5 million

The Trustee will engage Specialized liquidators and asset disposition firms to execute the sale of physical assets, including the manufacturing plant in Oklahoma City and the battery facility in Pryor.

Prior commercial and strategic relationships are now subject to termination or claim resolution within the bankruptcy estate. The status of these prior relationships, which form the basis of creditor or claimant positions, is detailed below.

The following table summarizes the financial relevance of Prior partners like The AA (UK service) and Walmart (contractual claims):

Prior Partner/Claimant	Relevant Financial/Contractual Data Point	Status Context (Post-Jan 2025)
Walmart	Initial order for 4,500 vehicles; option for 5,500 more.	Contractual claims subject to liquidation; original deal represented $300 million USD in potential revenue.
Walmart (Order Book)	At one point, Canoo claimed an order book valued at more than $3 billion.	Claim value for creditor distribution purposes is subject to trustee review and contract enforceability.
The AA (UK Service)	Related promissory note carried an 11% annual interest rate, due by October 2025.	The note's maturity date falls within the liquidation period, establishing a creditor claim.
State of Oklahoma	Promised state incentives exceeded $100 million; approximately $1 million provided.	The $1 million provided may represent a claim or a recoverable incentive, depending on the agreement terms.

Other entities that received product deliveries, which may have outstanding warranty or service claims against the estate, include:

• NASA
• The US Department of Defense (DoD)
• The US Postal Service (USPS)

The failure to secure funding from the U.S. Department of Energy's Loan Program Office was a critical factor leading to the insolvency filing.

Finance: draft 13-week cash view by Friday.

Canoo Inc. (GOEV) - Canvas Business Model: Key Activities

You're looking at the final chapter for Canoo Inc. (GOEV), which, as of late 2025, is defined by the activities necessary to wind down operations following a voluntary Chapter 7 bankruptcy filing in the U.S. Bankruptcy Court for the District of Delaware on January 17, 2025. The entire business model has shifted from vehicle production to estate management under a court-appointed trustee.

Processing creditor claims and managing the estate

The primary activity is managing the insolvency estate to distribute proceeds to creditors. The initial court documents from the January 2025 filing established the scope of the estate's obligations and assets.

Here's the quick math on the initial balance sheet snapshot reported during the filing:

Financial Metric	Amount (USD)
Total Liabilities	More than $\text{\$164 million}$
Total Assets	More than $\text{\$126 million}$
Cash & Equivalents (Prior Reporting)	$\text{\$1.53 million}$
Restricted Cash (Prior Reporting)	$\text{\$3.9 million}$

The company's affiliates, including EV Global Holdco LLC and Canoo Manufacturing LLC, were jointly administered in the Chapter 7 cases, with Canoo Inc. designated as the lead debtor, effective January 30, 2025.

Liquidating physical assets, including Oklahoma and Texas facilities

The Chapter 7 process mandates that assets be sold to the highest bidder to pay off debts, unlike a Chapter 11 reorganization. This includes the physical manufacturing footprint. The company had previously idled its plant in Oklahoma City and its battery operation in Pryor shortly before the filing.

Key physical assets subject to liquidation included:

• Manufacturing plant in Oklahoma City.
• Battery facility in Pryor, Oklahoma.
• Facilities in Justin, Texas, where workers were furloughed.

It's worth noting the state of Oklahoma had promised more than $\text{\$100 million}$ in incentives, but the firm only received approximately $\text{\$1 million}$ of that amount. The overall disposition of these facilities was part of a motion to sell substantially all assets.

Selling intellectual property (IP) and the modular skateboard platform

The proprietary technology, particularly the modular electric platform, was a key component targeted for sale. The trustee's activity involved packaging this IP for disposal alongside other assets. The sale of substantially all assets was proposed to WHS Energy Solutions, Inc. for a total purchase price of $\text{\$4 million}$ in cash.

This $\text{\$4 million}$ consideration was allocated as follows:

• $\text{\$0.5 million}$ in consideration of the Buyer Preference Claims.
• $\text{\$3.5 million}$ for all other Purchased Assets, which would encompass the IP and platform technology.

The sale hearing for this transaction was scheduled for March 22, 2025.

Disposing of remaining inventory and partially completed vehicles

The trustee was also responsible for disposing of any remaining physical goods. At one point, Canoo Inc. claimed an order book valued at more than $\text{\$3 billion}$, but the company only produced a handful of vehicles for customers like the State of Oklahoma and the United States Postal Service. The remaining inventory and any partially completed vehicles would have been included in the asset sale to WHS Energy Solutions, Inc. The company's last reported Annual Sales figure was $\text{\$1.86 million}$.

The final market capitalization before the bankruptcy proceedings was reported as low as $\text{\$724.30K}$. Finance: draft 13-week cash view by Friday.

Canoo Inc. (GOEV) - Canvas Business Model: Key Resources

You're looking at the core assets Canoo Inc. (GOEV) relies on to execute its business plan, which is heavily focused on government and commercial fleet sales using its unique platform. Honestly, the resource base is a mix of tangible assets, intellectual property, and, critically, the cash on hand to fund operations until volume ramps up.

The financial foundation is always a key resource, and as of the end of the third quarter of 2024, the liquidity position was tight, which definitely impacts near-term operational flexibility.

Resource Category	Specific Metric/Item	Value/Status (As of latest report)
Financial Capital	Cash, Cash Equivalents, and Restricted Cash	$16 million (As of September 30, 2024)
Operational Savings	Projected Annualized Savings from Consolidation (CA to TX/OK)	$12 million to $14 million

The intellectual property surrounding the vehicle architecture is central to Canoo Inc. (GOEV)'s long-term value proposition. This is the proprietary technology that allows for the modular design.

• Modular electric vehicle skateboard platform IP.
• Steer-by-wire technology is also a key component of the platform.

Securing commitments from government and large fleet customers validates the platform's utility, even if the order values found are not massive in the context of full production.

• Contracts and purchase orders from clients like NASA and DoD.
• A specific award amount noted from the National Aeronautics and Space Administration (NASA) was $147,855.
• Canoo Inc. (GOEV) also secured a contract from the DoD's Innovation Unit to supply battery modules for testing as of February 2023.

Physical assets, especially manufacturing capability, have seen recent, significant additions, though operational status can shift quickly. You should note the recent asset acquisition to bolster production capacity for 2025.

Canoo Inc. (GOEV) received the first tranche of advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Oklahoma City Foreign Trade Zone (FTZ) designated facility. This included 44 containers with 226 lots of assets, featuring state-of-the-art robots and production infrastructure. The Oklahoma City Facility is where the LDV130 and LDV190 electric cargo vehicles are manufactured. Still, reports indicated a temporary halt in manufacturing at the Oklahoma City plant in late December 2024.

The company also has manufacturing plans in Northwest Arkansas.

Canoo Inc. (GOEV) - Canvas Business Model: Value Propositions

You're looking at the value propositions for Canoo Inc. (GOEV) as of late 2025, which, honestly, is a liquidation scenario following the Chapter 7 filing on January 17, 2025, in the U.S. Bankruptcy Court for the District of Delaware. So, the value proposition shifts from selling vehicles to maximizing asset realization under court supervision.

Maximizing recovery for secured and unsecured creditors

The core value proposition in this phase is the orderly liquidation of assets to satisfy claims, overseen by a federal court-appointed Bankruptcy Trustee. The structure of existing debt dictates the recovery potential for different creditor classes. The company ceased operations immediately after the filing date of January 17, 2025.

• The process is managed by a court-appointed Bankruptcy Trustee.
• Shareholders are expected to receive zero distribution from the liquidation.
• A key factor is the status of loans made by the CEO/Chairman Tony Aquila's entity.

Here's a quick look at the final financial position impacting creditor recovery:

Financial Metric	Value as of September 30, 2024	Context
Cash, Cash Equivalents, and Restricted Cash	$16 million	Final reported cash position before cessation of operations
CEO/Chairman Secured Loan Amount	$2.5 million	Mid-December 2024 loan converted to secured status
Q3 2024 Revenue	$0.9 million	Last reported quarterly revenue
Estimated Annualized Cost Savings from Consolidation	$12 million - $14 million	Projected savings from Texas/Oklahoma relocation

The secured status of the $2.5 million loan from the CEO's entity in mid-December 2024 is critical, as this position is prioritized over unsecured claims in the distribution waterfall.

Offering unique, compact EV technology IP to potential buyers

The value proposition here is the sale of the underlying intellectual property, specifically the Multi-Purpose Platform (MPP) architecture, as a standalone asset. This platform is described as a self-contained, fully functional rolling chassis design. Before the filing, the company had stated goals for production ramp-up, which now serve as a baseline for the IP's potential value to a buyer.

• The platform supports a wide range of vehicle applications for businesses.
• The company had achieved final activation of the Oklahoma City facility Foreign Trade Zone.
• The CEO stated an aim to reach three jobs per day by Q4 2025, with multiple jobs per hour in 2026.

The IP and tooling are part of the assets the Trustee must sell off to generate proceeds for creditors.

Providing specialized, low-mileage fleet vehicles (LDV, MPDV) to asset buyers

The value proposition for asset buyers involves acquiring the existing inventory of specialized vehicles, including Light Delivery Vehicles (LDV) and Multi-Purpose Delivery Vehicles (MPDV), which were the focus after shifting away from the consumer market. The company had secured high-profile relationships that demonstrate product validation.

• Product offerings included LDV, MPDV, lifestyle vehicles, and pickups.
• Canoo Inc. had agreements with Walmart and delivered vehicles to NASA, the Department of Defense ("DOD"), and The United States Postal Service ("USPS").
• The company reported a quarterly revenue of $0.9 million in Q3 2024.

The trustee will be selling any remaining finished or in-process vehicles to asset buyers looking for immediate fleet additions or platform components.

Finance: draft the initial asset inventory list for the Trustee by Monday.

Canoo Inc. (GOEV) - Canvas Business Model: Customer Relationships

You're looking at the customer relationship structure for Canoo Inc. as of its Chapter 7 liquidation status in 2025. The relationship landscape has entirely shifted from vehicle sales to legal and asset disposition matters.

Formal, legal communication with all creditors and the court

The primary communication channel is now governed by the U.S. Bankruptcy Code, Chapter 7, which Canoo Inc. filed for on January 17, 2025. This process dictates all formal interactions.

The financial scope of these creditor relationships is defined by the bankruptcy filing disclosures:

Metric	Reported Value
Number of Creditors Owed	Fewer than 49
Total Liabilities Range	$10 million to $50 million
Claimed Assets Range	Less than $50,000
Bankruptcy Filing Date	January 17, 2025

This formal structure supersedes any prior commercial relationship framework.

Transactional relationship with asset purchasers via auction or private sale

Any remaining relationship with asset purchasers is purely transactional, focused on the orderly sale of remaining company assets under court supervision. This is the mechanism for realizing value for creditors.

Prior to the Chapter 7 filing, a Corporate Asset Purchase with Arrival UK (New and Like-New Assets) was recorded on March 26, 2024, but the current relationships are defined by the liquidation process.

No direct customer relationship for vehicle sales (deposits were refunded)

The direct-to-consumer sales channel is defunct. Canoo Inc. had previously announced a focus on fleet customers and a plan to refund retail deposits starting in late 2024.

The status of these initial customer interactions, primarily $100 deposits, involved:

• Refund requests processed via email to refunds@canoo.com.
• Some customers reported receiving their $100 refund within 24 hours of posting a request in late 2024.
• Other customers were advised to initiate a chargeback dispute with their credit card provider.
• Funds for deposits were reportedly held in a special account, though employee class action claims may have priority over remaining funds.

The last reported cash, cash equivalents, and restricted cash balance before the bankruptcy filing was $18.2 million as of March 31, 2024, which contrasts sharply with the stated liabilities.

Finance: draft final creditor communication log by next Tuesday.

Canoo Inc. (GOEV) - Canvas Business Model: Channels

You're looking at the Channels block of the Business Model Canvas for Canoo Inc. (GOEV) as of late 2025. Given the Chapter 7 filing on January 17, 2025, the traditional sales and distribution channels have been entirely replaced by legal and disposition channels managed under court supervision. The primary channel for value realization is now the liquidation of assets.

U.S. Bankruptcy Court filings and public dockets

The entire channel strategy is dictated by the proceedings in the U.S. Bankruptcy Court for the District of Delaware. This court docket serves as the central repository and ultimate authority for all asset disposition activities. The filing itself, under Chapter 7 of the U.S. Bankruptcy Code, immediately converted all potential sales channels into a court-supervised liquidation process, overseen by a federal Bankruptcy Trustee.

The initial financial snapshot provided to the court defined the scope of the asset disposition effort:

• Assets declared: $126 million
• Debts declared: $164 million

This disparity between assets and liabilities sets the expectation for creditor recovery, which directly impacts how aggressively the trustee pursues asset realization through the available channels. The trustee's collaboration with the former Canoo Inc. team is a necessary internal channel to facilitate the physical transfer of assets.

Asset auction platforms and industrial real estate brokers

The physical assets, including intellectual property, manufacturing equipment, and real estate holdings, are channeled for sale through mechanisms approved by the Bankruptcy Court. While specific third-party auction platforms or industrial real estate brokers used by the trustee are not always immediately public in the initial dockets, the outcome of the process is visible.

A significant development in the asset channel was the successful bid by the former Chairman and CEO, Tony Aquila, to acquire the bankrupt EV startup's assets. This was finalized after a judge ruled in his favor around April 10, 2025, effectively shutting down other potential buyer channels, such as a competing bid from a mystery financier around May 16, 2025.

Here's a look at the financial context governing the asset realization channels:

Asset Category/Disposition Channel	Key Financial Metric/Event	Date Context
Total Declared Assets	$126 million	January 2025 Filing
Total Declared Liabilities	$164 million	January 2025 Filing
CEO Asset Acquisition Bid Approval	Judge's ruling in favor of CEO's bid	April 10, 2025
Real Estate Lease Obligation (Bentonville)	$17.1 million (10-year lease signed in 2022)	Pre-Bankruptcy Context

Direct communication with major secured creditors

In a Chapter 7, direct communication shifts from customer/partner engagement to creditor negotiation and claims processing. The primary channel here is the formal claims process managed by the Trustee, where secured creditors assert their priority claims against the liquidated assets. The structure of the distribution is fixed by the Bankruptcy Code, meaning communication focuses on validating the value realized through the auction channels against the outstanding debt.

Secured creditors are prioritized over unsecured creditors and equity holders. The fact that the company ceased operations immediately upon filing, rather than attempting a reorganization (Chapter 13), signals that the secured creditors' positions were likely strong enough to warrant immediate liquidation.

The failure to secure funding from the U.S. Department of Energy's Loan Program Office was a key event leading to insolvency, meaning that office, or any other major secured lender, was a critical counterparty in the pre-filing and initial post-filing communication regarding asset collateral. The liquidation process channels the proceeds directly to these parties first.

• Priority of Payment: Secured Creditors first.
• Unsecured Creditors next in line.
• Shareholders last, likely receiving $0.00 per share.

Finance: review the final asset disposition report from the Trustee by the end of Q4 2025.

Canoo Inc. (GOEV) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Canoo Inc. (GOEV) as of late 2025, which is a unique situation given the Chapter 7 bankruptcy filing on January 17, 2025, and subsequent delisting from Nasdaq on January 24, 2025. The primary stakeholders shift from end-users to parties involved in asset realization.

Secured and unsecured creditors (the primary stakeholders)

Following the Chapter 7 filing, the focus for any remaining value shifts entirely to the creditors. While specific outstanding balances for secured and unsecured debt as of late 2025 liquidation aren't explicitly detailed in the latest reports, the context is defined by the company's financial distress leading up to the filing.

• Market capitalization at the time of delisting was reported at just $7.68 million.
• The company reported a negative free cash flow yield of -28.65% just before the bankruptcy filing.
• The company stated in its 2024 filings that it needed to raise additional capital in the near term and did not have sufficient cash on hand to meet near-term obligations.

Government agencies (e.g., USPS, DoD) with existing vehicle contracts

These entities represent customers with existing, though potentially terminated or modified, purchase agreements. The fulfillment status of these contracts becomes a key point for the bankruptcy trustee.

Here's a look at the known government-related activity:

Agency/Program	Vehicle/Service	Quantity/Value Detail	Status Context (Pre-Bankruptcy)
U.S. Postal Service (USPS)	LDV 190 (Right-Hand Drive)	Purchase of six vehicles for delivery in Q1 2024.	Agreement announced January 24, 2024.
DoD DIU	Battery Testing Program	Revenue recognition reported for testing services.	Reported in Q2 2024 updates.
International/Commercial (Saudi Arabia)	Electric Vehicles (EVs)	Jazeera Paints initially to purchase 20 EVs in 2024, with an option for 180 additional vehicles.	Part of an entry into a reported $30 billion market.

Industrial real estate investors and equipment buyers

With manufacturing facilities in Northwest Arkansas and Pryor, Oklahoma, the disposition of these physical assets becomes a segment for industrial real estate investors and equipment buyers during the Chapter 7 process. The company had focused production in the U.S. after ceasing contract manufacturing with VDL Nedcar.

• The Oklahoma City facility had received Foreign Trade Zone designation approval.
• The company had a stated 2025 production target of 70,000 to 80,000 units, which required the operational status of these facilities.

Competitor EV manufacturers seeking IP or specialized assets

In a bankruptcy scenario, other EV manufacturers might look to acquire Canoo Inc.'s proprietary electric vehicle platform or other intellectual property. The company's structure involved Canoo Technologies Inc. and Canoo Sales, LLC.

• The company employed 651 Full Time Employees as of the July 7, 2025, data point, representing a pool of specialized engineering talent.
• Prior to the production halt, the company aimed for 96% of its parts to be sourced from U.S. and Allied Nations.

Canoo Inc. (GOEV) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Canoo Inc. (GOEV) as it navigates the Chapter 7 liquidation process initiated in January 2025. This stage is entirely focused on winding down operations and maximizing asset recovery for creditors, meaning the cost structure is dominated by administrative and wind-down expenses rather than traditional operating costs.

The scale of these costs is set against the company's declared financial position at the time of filing: total assets were reported at approximately $126 million against total liabilities exceeding $164 million. This deficit means the costs associated with the liquidation itself-legal, administrative, and advisory-will directly reduce the pool available for unsecured creditors.

Significant Legal and Administrative Fees for the Chapter 7 Process

The Chapter 7 filing in the U.S. Bankruptcy Court for Delaware immediately triggered significant, non-discretionary legal and administrative costs. These fees cover the court-mandated processes for asset identification, creditor notification, and the overall administration of the estate. While the exact final figure for the entire process isn't finalized until the case closes, initial filings suggest substantial retainers for the appointed legal teams.

• The liquidation is overseen by a court-appointed Bankruptcy Trustee.
• Legal fees are prioritized claims against the remaining assets.
• Past liabilities, such as the $1.5 million SEC fine from 2023, must also be addressed within the claims process.

Trustee and Professional Advisor Compensation

The compensation for the Trustee and their professional advisors-attorneys, accountants, and asset disposition specialists-is a primary cost driver in any Chapter 7. These professionals are compensated based on statutory rates or fee applications approved by the Delaware Bankruptcy Court, which are calculated based on the complexity and the value of the assets being administered.

Here's a look at the financial context surrounding some pre-liquidation obligations that influence the current cost environment:

Financial Obligation Type	Reported Amount (Approximate)	Context
Total Declared Liabilities	$164 million	Total debt figure at January 2025 filing.
Secured Debt (Example)	$3.9 million	Loans from CEO Tony Aquila ($1.2M + $2.7M) secured by Oklahoma City facility assets.
SEC Fine (Historical)	$1.5 million	Penalty from 2023 for misleading investors regarding the IPO.

Facility Maintenance Costs Until Final Asset Sale

Canoo Inc. ceased operations and idled its factory in Oklahoma City, and had operations/personnel in Michigan and Texas. Maintenance costs until final asset sale include securing, insuring, and preserving these physical locations and any remaining equipment.

The company had previously signed a 10-year lease for a 270,000-square-foot industrial building in Bentonville, Arkansas, though its corporate headquarters later moved to Justin, Texas. The costs here involve breaking or settling these property obligations.

• Costs include utility retention, security contracts, and environmental compliance for idle manufacturing sites.
• Lease termination fees or ongoing rent payments until sublease or contract resolution are factored in.

Wind-Down Costs for Remaining Workforce and Furloughed Employees

When Canoo filed for Chapter 7, it immediately laid off its remaining workforce. Wind-down costs specifically cover final payroll obligations, accrued vacation pay, and potential severance packages, subject to priority under the Bankruptcy Code.

The company expressed gratitude to its employees, but the immediate cessation of operations means these final payments are a critical, high-priority expense category for the Trustee to manage.

The total cost for workforce wind-down is dependent on the final number of employees and the terms of their employment agreements, which are subject to review by the Trustee. Honestly, these employee-related claims often get paid before many other unsecured creditors.

Canoo Inc. (GOEV) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Canoo Inc. (GOEV) as of late 2025. Given the company filed for a voluntary petition for liquidation under Chapter 7 of the U.S. Bankruptcy Code on January 17, 2025, the revenue streams are fundamentally tied to winding down operations rather than ongoing vehicle sales. The last reported operational revenue provides a baseline for what might be considered the final collection of receivables.

The final collection of accounts receivable is best represented by the last reported quarterly revenue before the bankruptcy filing. For the third quarter of 2024, Canoo Inc. reported revenue of $0.89 million. The year-to-date revenue through Q3 2024 was $1.50 million.

Regarding the other components of this section, specific, confirmed financial figures for late 2025 are not publicly available in the immediate post-bankruptcy filings provided, as the focus shifts to asset disposition by the trustee. However, the structure of potential final proceeds is as follows:

• Proceeds from the sale of all remaining physical assets and inventory.
• Revenue from the sale of intellectual property and patents.
• Potential recovery from prior strategic investments or joint ventures.

The company's operational cost reduction efforts, such as the relocation from California to Texas and Oklahoma, were projected to save approximately $12 million to $14 million annually, which speaks to the scale of assets being liquidated, though not the recovery value itself.

Here is a snapshot of the last reported revenue figures for Canoo Inc. before the Chapter 7 filing:

Revenue Component	Period Ending September 30, 2024	Comparison/Context
Quarterly Revenue	$0.89 million	Fell short of analyst estimate of $2.11 million.
Year-to-Date Revenue	$1.5 million	Total revenue through Q3 2024.
Year-Ago Quarterly Revenue (Q3 2023)	$0.52 million	Represents a modest increase from the prior year period.

The GAAP net income for Q3 2024 was $3 million, which included a $62 million gain on the fair value change of warrant and derivative liabilities, which is a non-operational item that influenced the final reported income before liquidation.

Finance: draft 13-week cash view by Friday.