Canoo’s chief financial officer and chief legal officer are the latest executives to leave.

Electric vehicle startup Canoo has lost its chief financial officer and chief legal officer, the latest in a string of executive departures as the company continues to struggle with mass adoption of its electric work vans.

Chief Financial Officer Greg Ethridge and General Counsel Hector Ruiz left Canoo on Oct. 31, the company said in a regulatory filing Tuesday. innings. Ethridge and Ruiz did not respond to requests for comment.

Canoo also announced it had furloughed 30 workers in Oklahoma for 12 weeks “as part of a broader reorganization of its North American operations.”

Ethridge was replaced by former investment banker Kunal Bhalla, who was chief of staff to CEO Tony Aquila. Bhalla will receive a base salary of $300,000. Assistant General Counsel Sean Yang will replace Ruiz.

The departure comes just weeks after Canoo closed its original headquarters in Los Angeles, California, to prioritize its operations in Texas and Oklahoma. the last remaining co-founder left the company around the same time as Kanu chief technical officer.

Kanu has been experiencing financial difficulties lately. Company reported as of June 30, 2024, total cash was approximately $19 million, of which $4.5 million was unrestricted. In October, Kanu revealed in regulatory documentation that a fund associated with Aquila loaned the startup about $1.2 million at an interest rate of 11%. On Tuesday, the company announced in the same regulatory filing that it borrowed another $2.7 million from the Aquila fund. Canoo also entered into a revolving credit facility with the Aquila fund.

Canoo is also facing multiple lawsuits from suppliers blaming unpaid invoices, TechCrunch reported. previously reported. Another supplier, Kistler Instrument Corporation, has since filed a lawsuit against Canoo in Los Angeles Superior Court, seeking $56,000 in damages.