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In contrast, electric vehicle startup Canoo announced it has filed for Chapter 7 bankruptcy, ceasing operations entirely. Despite partnerships with noteworthy organizations like NASA and Walmart, Canoo struggled to achieve profitability.
Ram's Strategic Shift in Electric Vehicle Offerings
Ram has decided to scrap plans for a long-range version of its all-electric pickup truck, the Rev. The company has chosen to prioritize a short-range model that will launch this year before introducing the Rev in 2026. This strategic shift allows Ram to concentrate on a different battery pack configuration while reallocating battery cells to more pressing EV developments.