R The CEO of Canoo, Anthony Aquila, is set to purchase nearly all the assets of a defunct EV startup out of bankruptcy for $4 million in cash. This deal will wipe clean a staggering debt of over $11 million. The sale marks a significant development in the EV market, as it brings together a prominent figure with a history in the industry.The implications of this acquisition on the broader EV sector are unclear, but it is likely to have some impact. Investors and stakeholders of the defunct startup will also be affected, as their interests will be tied up in the new entity. It remains to be seen how Aquila plans to revamp and relaunch the brand and products.The deal provides a fresh start for the assets and intellectual property associated with the defunct startup. However, it is unclear whether the new entity can overcome the significant financial and reputational challenges that lie ahead.